Application Security Market

Application Security Market by Type, Component, Organization Size, Deployment Mode, Vertical (BFSI, Government & Public Sector, Healthcare, Telecommunication, Retail E-commerce, Education, IT&ITES) and Region - Global Forecast to 2029

Report Code: TC 4283 Jun, 2024, by marketsandmarkets.com

[350 Pages Report] The global Application Security Market to grow from USD  33.7 billion in 2024 to USD 55.0 billion by 2029 at a compound annual growth rate (CAGR) of 10.3% during the forecast period. Due to increased reliance on applications and the rising threat of cyberattacks, the application security (AppSec) market is rapidly growing. The frequent and sophisticated nature of these attacks drives the need for strong AppSec solutions. As organizations migrate to cloud-based applications, new security challenges emerge, requiring adaptable and robust controls. AppSec vendors are developing user-friendly tools that integrate with developer workflows to identify vulnerabilities early. SMEs and organizations with limited security resources are turning to Managed Security Service Providers (MSSPs) for affordable expertise. Additionally, the widespread use of open-source software necessitates evolving AppSec solutions to secure open-source code effectively.

Application Security Market

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Application Security Market Opportunities

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Application Security Market Dynamics

Driver: Rise in security breaches targeting business applications.

The surge in security breaches targeting business applications has become a significant market driver for the application security market. As enterprises increasingly rely on complex, interconnected software ecosystems, the attack surface for cyber threats has expanded, making application vulnerabilities a primary target for malicious actors. High-profile breaches, resulting in substantial financial and reputational damage, have underscored the critical need for robust security measures. Consequently, organizations prioritize investments in application security solutions to safeguard sensitive data, ensure regulatory compliance, and maintain customer trust. This heightened awareness and proactive stance towards mitigating risks are propelling the growth of the application security market, with a strong demand for advanced tools and services that offer comprehensive protection across the software development lifecycle.

Restraint: Budget constraints and return on investments

Budget constraints present a significant restraint for the application security market. Despite the clear necessity for robust security measures to protect against sophisticated cyber threats, many organizations, particularly small and medium-sized enterprises, struggle to allocate sufficient funds for comprehensive application security solutions. The high costs associated with advanced security tools, ongoing maintenance, and the hiring of skilled personnel can be prohibitive. Additionally, the rapid pace of technological change and the constant evolution of threats require continuous investment, which many businesses find challenging to sustain. This financial limitation hinders the widespread adoption of cutting-edge security technologies and services, potentially leaving numerous applications vulnerable to attacks and slowing the overall growth of the application security market.

Opportunity: Adoption of artificial intelligence and machine learning in application security

The adoption of Artificial Intelligence (AI) and Machine Learning (ML) presents a significant opportunity in the application security market. AI and ML technologies enhance the capability of security systems to detect and respond to threats more efficiently and accurately. By leveraging these technologies, application security solutions can analyze vast amounts of data in real time, identify patterns, and predict potential vulnerabilities before they can be exploited. AI-driven security tools can adapt to new and evolving threats, offering a proactive approach to threat detection and mitigation. Additionally, the automation capabilities provided by AI and ML reduce the dependency on human intervention, allowing organizations to manage security with greater precision and at lower costs. This technological advancement not only improves the efficacy of security measures but also fosters innovation, making robust application security more accessible and scalable for businesses of all sizes. As a result, the integration of AI and ML is poised to drive significant growth and transformation within the application security market.

Challenges: The complexity of modern applications

The complexity of modern applications poses significant challenges to the application security market, driven by the adoption of microservices architectures, extensive use of APIs, and integration of third-party services. As organizations increasingly deploy applications across diverse environments, including cloud and hybrid platforms, the potential attack surfaces multiply, necessitating robust and adaptive security measures. The rapid pace of continuous deployment in DevOps practices further complicates security, requiring seamless integration of security protocols without hindering development speed.

Application Security
Market Ecosystem

Top Companies in Application Security Market

By vertical, the BFSI segment is to account for a larger market size during the forecast period.

The Banking, Financial Services & Insurance (BFSI) sector is a prime target for cyberattacks due to the vast amount of sensitive data it handles. Robust application security (AppSec) is essential for protecting customer information, financial assets, and overall business integrity. Integrating AppSec solutions with complex legacy systems is a significant challenge for BFSI institutions, which are constantly under attack from sophisticated cybercriminals. The rise of Open Banking and its reliance on APIs introduces new vulnerabilities that must be secured to prevent unauthorized access to sensitive data. As BFSI institutions migrate to the cloud, AppSec solutions need to integrate seamlessly with cloud environments and provide robust security controls. The adoption of strong Identity and Access Management (IAM) solutions helps manage user access and minimize unauthorized access risks. Integrating AppSec within DevSecOps pipelines allows for earlier vulnerability detection and remediation. Effective AppSec strategies must also include security awareness training and phishing detection mechanisms, ensuring scalability, automation, and easier integration with cloud environments.

By Component, the Solution segment is to account for a larger market size during the forecast period

Organizations are increasingly turning to automated AppSec solutions to efficiently scan large codebases, reducing the need for manual efforts and enabling continuous security monitoring. Modern AppSec solutions are developer-friendly, featuring user-friendly interfaces and seamless integration with developer workflows. This approach encourages the adoption of "shift left" practices, integrating security early in the development lifecycle. With the shift towards cloud-based applications, there is a growing demand for cloud-native AppSec solutions. These solutions offer scalability, flexibility, and easier deployment compared to traditional on-premise alternatives, aligning with the evolving needs of organizations in today's digital landscape.

By deployment mode, the cloud segment to grow at a higher CAGR during the forecast period

Application security in this model is fully managed within a security vendor's cloud infrastructure, functioning like an internet-accessible security war room overseen by experts. This setup eliminates the need for on-premises hardware or software, as all security tools and configurations run on the vendor's platform. Users access security controls and reports through a web interface, providing a centralized view of their security status, while the vendor handles updates and maintenance to ensure continuous, up-to-date protection. Cloud-based solutions offer natural scalability, adjusting to changes in application usage and data volume, thus reducing the IT burden and freeing up internal staff for other tasks. This approach also enables quicker deployment, offering faster application protection. Subscription-based pricing models lower upfront costs and simplify budgeting, while automatic updates keep applications safeguarded against the latest threats, allowing easy adaptation to changing requirements.

By region, North America will have the largest market size during the forecast period.

North American Application Security Market Size, and Share

The North American application security market is currently experiencing substantial growth, fueled by several pivotal factors. Foremost among these is the concerning rise in security breaches targeting business applications, prompting companies to prioritize bolstering their security measures. This heightened awareness and urgency have significantly boosted the demand for advanced application security solutions. Moreover, the increasing adoption of cloud-based applications has further propelled this demand as organizations seek robust safeguards for their cloud-centric operations. Industry leaders such as IBM, Cisco, and Synopsys are spearheading the provision of cutting-edge security solutions tailored to the evolving needs of North American businesses.

In addition to these Market Dynamics

, the well-established IT infrastructure in North America serves as fertile ground for the development and adoption of innovative application security solutions. The region's prominence as a hub for global financial institutions also plays a crucial role in driving the demand for stringent security measures. With financial entities being prime targets for cyberattacks, the imperative for robust application security solutions is underscored. Furthermore, the rapid proliferation of IoT devices across various industries poses new security challenges, necessitating specialized security measures to mitigate risks effectively. Against this backdrop, the emphasis on developing threat intelligence solutions highlights a proactive approach in identifying and addressing security threats, further propelling the growth trajectory of the application security market in North America.

Key Market Players

IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Broadcom (US), Qualys (US), and Rapid7 (US) are some of the key players operating in the global Application Security market.

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Scope of the Report

Report Metrics

Details

Market size available for years

2018–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Million/USD Billion)

Segments Covered

  • By Type, By Component, By Organization Size, By Deployment mode, By Vertical, and By Region

Geographies covered

North America, Europe, Asia Pacific, Middle East Africa, and Latin America

Major companies covered

Major vendors in the global Application Security market include IBM (US), HCL (India), Synopsys(US), Microfocus(UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US) , Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US)

The study categorizes the Application security market by Type, Component, Organization size, deployment mode, vertical, and region.

By Type
  • Web Application Security
  • Mobile  Application Security
By Component
  • Solutions
    • Security Testing Tools
      • Static Application Security Testing (SAST)
      • Dynamic Application Security Testing (DAST)
      • Interactive Application Security Testing (IAST)
      • Runtime Application Self-Protection
    • Container Security
    • API Security
    • Other Solutions
  • Services
    • Professional Services
    • Managed Services
By Deployment Mode
  • Cloud
  • On-Premises
By Organization Size
  • Large Enterprises
  • SMEs
  • Vertical
  • Banking, Financial Services,  & Insurance (BFSI)
  • Government And Public Sector
  • Healthcare
  • Telecommunications
  • Retail And E-Commerce
  • IT & ITES
  • Education
  • Other Verticals
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Recent Development

  • In January 2024, IBM, the IT Services and Consulting company acquired Advanced. IBM announced its acquisition of application modernization capabilities from Advanced, aiming to strengthen its hybrid cloud and AI offerings. Expected to be finalized in Q2 2024, the deal will enhance IBM Consulting's services, particularly in mainframe application and data modernization, supporting clients' digital transformation journeys.
  • In December 2023, IBM, the IT Services and Consulting company acquired Streamsets and Webmethods. IBM plans to boost its AI and hybrid cloud abilities with the acquisition of StreamSets and webMethods. Expected to be finalized in Q2 2024, this integration aims to empower clients for enhanced application and data utilization.
  • In April 2021, IBM Security and HCL Technologies are teaming up to enhance threat management for clients through a modernized security operation center platform. HCL's Cybersecurity Fusion Centers will leverage IBM's Cloud Pak for Security to create a unified security platform, streamlining security teams, tools, and processes across the threat lifecycle. This collaboration aims to support organizations in their digital transformation by providing advanced threat management services worldwide.
  • In August 2023, Synopsys introduced Software Risk Manager, an advanced Application Security Posture Management (ASPM) solution designed to simplify and streamline application security testing across projects and teams. Led by Jason Schmitt, Synopsys' Software Integrity Group aims to address the challenges organizations face in managing software risk amidst digital transformation. With ASPM, teams can centrally define security policies, maximize existing security investments, consolidate vulnerability reporting, integrate security workflows into development processes, and optimize application security testing with a unified solution. Gartner predicts widespread adoption of ASPM by 2026, highlighting the increasing need for efficient application security management to mitigate risks effectively.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY CONSIDERED 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH APPROACH 
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION 
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
    2.4 RESEARCH ASSUMPTIONS 
    2.5 LIMITATIONS OF THE STUDY 
    2.6 IMPACT OF RECESSION ON THE GLOBAL APPLICATION SECURITY  MARKET 
 
3 EXECUTIVE SUMMARY  
 
4 PREMIUM INSIGHTS 
    4.1 BRIEF OVERVIEW OF THE APPLICATION SECURITY  MARKET 
    4.2 APPLICATION SECURITY  MARKET, BY TYPE 
    4.3 APPLICATION SECURITY  MARKET, BY COMPONENT 
    4.4 APPLICATION SECURITY  MARKET, BY VERTICAL 
    4.5 APPLICATION SECURITY  MARKET: REGIONAL SCENARIO, 2024 VS 2029 
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS 
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 CASE STUDY ANALYSIS 
    5.4 VALUE CHAIN ANALYSIS 
    5.5 ECOSYSTEM/ MARKET MAP 
    5.6 PORTER’S FIVE FORCES ANALYSIS 
    5.7 PRICING ANALYSIS 
           5.7.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY OFFERING
           5.7.2 INDICATIVE PRICING ANALYSIS BY SOLUTION
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 KEY TECHNOLOGIES
           5.8.2 COMPLIMENTARY TECHNOLOGIES
           5.8.3 ADJACENT TECHNOLOGIES
    5.9 PATENT ANALYSIS 
    5.1 TRENDS/DISRUPTIONS IMPACTING BUYERS 
    5.11 REGULATORY LANDSCAPE 
           5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.11.2 REGULATIONS BY REGION
    5.12 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
           5.12.2 BUYING CRITERIA
    5.13 KEY CONFERENCES AND EVENTS (2024-2025) 
    5.14 BUSINESS MODEL ANALYSIS 
    5.15 INVESTMENT AND FUNDING SCENARIO 
 
6 APPLICATION SECURITY MARKET, BY TYPE 
    6.1 INTRODUCTION 
           6.1.1 TYPE: APPLICATION SECURITY  MARKET DRIVERS
    6.2 WEB APPLICATION SECURITY  
    6.3 MOBILE  APPLICATION SECURITY 
 
7 APPLICATION SECURITY  MARKET, BY COMPONENT 
    7.1 INTRODUCTION 
           7.1.1 COMPONENT: APPLICATION SECURITY MARKET DRIVERS
    7.2 SOLUTIONS 
           7.2.1 SECURITY TESTING TOOLS
                               7.2.1.1.1 STATIC APPLICATION SECURITY  TESTING (SAST)
                               7.2.1.1.2 DYNAMIC APPLICATION SECURITY  TESTING (DAST)
                               7.2.1.1.3 INTERACTIVE APPLICATION SECURITY  TESTING (IAST)
                               7.2.1.1.4 RUNTIME APPLICATION SELF-PROTECTION (RASP)
           7.2.2 CONTAINER SECURITY
           7.2.3 API SECURITY
           7.2.4 OTHER SOLUTIONS
    7.3 SERVICES 
           7.3.1 SERVICES: MARKET DRIVERS
           7.3.2 PROFESSIONAL SERVICES
                    7.3.2.1 TRAINING AND EDUCATION
                    7.3.2.2 CONSULTING SERVICES
                    7.3.2.3 INTERGATION AND MAINTENANCE
                    7.3.2.4 PENETRATION TESTING
           7.3.3 MANAGED SERVICES
 
8 APPLICATION SECURITY  MARKET, BY ORGANIZATION SIZE 
    8.1 INTRODUCTION 
           8.1.1 ORGANIZATION SIZE: APPLICATION SECURITY  MARKET DRIVERS
    8.2 LARGE ENTERPRISES 
    8.3 SMES 
 
9 APPLICATION SECURITY  MARKET, BY DEPLOYMENT MODE 
    9.1 INTRODUCTION 
           9.1.1 DEPLOYMENT MODE: APPLICATION SECURITY MARKET DRIVERS
    9.2 CLOUD 
    9.3 ON-PREMISES 
 
10 APPLICATION SECURITY  MARKET, BY VERTICAL 
     10.1 INTRODUCTION 
             10.1.1 VERTICAL: APPLICATION SECURITY  MARKET DRIVERS
     10.2 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI) 
             10.2.1 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI): MARKET DRIVERS
     10.3 GOVERNMENT AND PUBLIC SECTOR 
             10.3.1 GOVERNMENT AND PUBLIC SECTOR: MARKET DRIVERS
     10.4 HEALTHCARE 
             10.4.1 HEALTHCARE: MARKET DRIVERS
     10.5 TELECOMMUNICATIONS 
             10.5.1 TELECOMMUNICATIONS: MARKET DRIVERS
     10.6 RETAIL AND E-COMMERCE 
             10.6.1 RETAIL AND E-COMMERCE: MARKET DRIVERS
     10.7 IT AND ITES 
             10.7.1 IT AND ITES: MARKET DRIVERS
     10.8 EDUCATION 
             10.8.1 EDUCATION: MARKET DRIVERS
     10.9 OTHER VERTICALS 
             10.9.1 OTHER VERTICALS: MARKET DRIVERS
*Note –The above market segments will be finalized/ quantified based on further assessment and client feedback
 
11 APPLICATION SECURITY  MARKET BY REGION 
     11.1 INTRODUCTION 
     11.2 NORTH AMERICA 
             11.2.1 NORTH AMERICA: MARKET DRIVERS
             11.2.2 NORTH AMERICA: RECESSION IMPACT
             11.2.3 UNITED STATES
             11.2.4 CANADA
     11.3 EUROPE 
             11.3.1 EUROPE: MARKET DRIVERS
             11.3.2 EUROPE: RECESSION IMPACT
             11.3.3 UNITED KINGDOM
             11.3.4 GERMANY
             11.3.5 FRANCE
             11.3.6 ITALY
             11.3.7 REST OF EUROPE
     11.4 ASIA PACIFIC 
             11.4.1 ASIA PACIFIC: MARKET DRIVERS
             11.4.2 ASIA PACIFIC: RECESSION IMPACT
             11.4.3 CHINA
             11.4.4 JAPAN
             11.4.5 INDIA
             11.4.6 SINGAPORE
             11.4.7 REST OF ASIA PACIFIC
     11.5 MIDDLE EAST & AFRICA 
             11.5.1 MIDDLE EAST & AFRICA: MARKET DRIVERS
             11.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
             11.5.3 MIDDLE EAST
                       11.5.3.1 GULF COOPERATION COUNCIL (GCC)
                       11.5.3.2 REST OF MIDDLE EAST
             11.5.4 SOUTH AFRICA
             11.5.5 REST OF THE MIDDLE EAST & AFRICA
     11.6 LATIN AMERICA 
             11.6.1 LATIN AMERICA: MARKET DRIVERS
             11.6.2 LATIN AMERICA: RECESSION IMPACT
             11.6.3 BRAZIL
             11.6.4 MEXICO
             11.6.5 REST OF LATIN AMERICA
 
12 COMPETITIVE LANDSCAPE 
     12.1 INTRODUCTION 
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN  
     12.3 REVENUE ANALYSIS 
     12.4 COMPANY VALUATION AND FINANCIAL METRICS 
     12.5 MARKET SHARE ANALYSIS 
     12.6 BRAND/PRODUCT COMPARISON 
     12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 
             12.7.1 STARS
             12.7.2 EMERGING LEADERS
             12.7.3 PERVASIVE PLAYERS
             12.7.4 PARTICIPANTS
             12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
                       12.7.5.1 Company Footprint
                       12.7.5.2 Region Footprint
                       12.7.5.3 Type Footprint
                       12.7.5.4 Offering Footprint
     12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
             12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
                       12.8.5.1 Detailed List of Key Startups/SMEs
                       12.8.5.2 Competitive Benchmarking of Key Startups/SMEs
     12.9 KEY MARKET DEVELOPMENTS 
             12.9.1 NEW LAUNCHES
             12.9.2 DEALS
             12.9.3 OTHERS
 
13 COMPANY PROFILES 
     13.1 KEY PLAYERS 
             13.1.1 IBM
             13.1.2 HCL SOFTWARE
             13.1.3 SYNOPSYS
             13.1.4 MICROFOCUS (OPENTEXT)
             13.1.5 CAPGEMINI
             13.1.6 ONAPSIS
             13.1.7 FORTINET
             13.1.8 CLOUDFARE
             13.1.9 PALO ALTO NETWORKS
             13.1.10 CHECK POINT SOFTWARE
             13.1.11 GUARDSQUARE
             13.1.12 CHECKMARX
             13.1.13 BROADCOM
             13.1.14 RAPID 7
             13.1.15 QUALYS
     13.2 OTHER KEY PLAYERS 
             13.2.1 GITLAB
             13.2.2 CAST
             13.2.3 CONTRAST SECURITY
             13.2.4 ONESPAN
             13.2.5 TRUST WAVE
             13.2.6 THALES
             13.2.7 F5
             13.2.8 ACUNETIX
             13.2.9 NOWSECURE
             13.2.10 PRADEO
             13.2.11 LOOKOUT
             13.2.12 ZIMPERIUM
             13.2.13 QUOKKA
             13.2.14 VERACODE
*Note –This is a tentative list of vendors. As research progresses, the vendors will be shortlisted for the profiling section and finalized based on further assessment
 
14 ADJACENT MARKETS 
     14.1 INTRODUCTION TO ADJACENT MARKETS 
     14.2 LIMITATIONS 
     14.3 APPLICATION SECURITY  MARKET ECOSYSTEM AND ADJACENT MARKETS 
     14.4 PENETRATION TESTING MARKET 
     14.5 SECURITY TESTING MARKET 
 
15 APPENDIX 
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.3 AVAILABLE CUSTOMIZATIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

The research encompassed various vital activities to determine the current market size of the Application Security market. Extensive secondary research was conducted to gather information on the industry. Subsequently, primary research involving industry experts across the value chain validated these findings, assumptions, and estimations. The total market size was estimated using different methodologies, including top-down and bottom-up approaches. Following this, market segmentation and data triangulation techniques were applied to ascertain the market size of individual segments and subsegments within the Application Security market.

Secondary Research

During the secondary research phase, various sources were consulted to identify and gather pertinent information for the study. These secondary sources encompassed annual reports, press releases, investor presentations from Application Security software and service vendors, online forums, accredited publications, and white papers. This secondary research served as a foundation for acquiring crucial insights into the industry's supply chain, key players, market categorization, segmentation based on prevailing trends down to granular levels, regional markets, and noteworthy developments from both market and technological perspectives. These findings were subsequently corroborated and validated through primary sources. Factors considered in estimating regional market sizes included governmental and technological initiatives, Gross Domestic Product (GDP) growth rates, Information and Communication Technology (ICT) expenditure, recent market developments, and a comprehensive analysis of significant Operational Technology Security solution providers' market standings.

Primary Research

The comprehensive market engineering process employed a combination of top-down and bottom-up approaches, complemented by various data triangulation methods, to accurately estimate and forecast market trends for overall market segments and subsegments outlined in the report. The report systematically compiled and presented vital insights and information through meticulous qualitative and quantitative analyses conducted throughout the market engineering process.

After completing the market engineering process, which encompassed calculations for market statistics, segmentation breakdowns, market size estimations, forecasts, and data triangulation, thorough primary research was undertaken. This primary research gathered, verified, and validated critical numerical data and identified segmentation types, industry trends, and the competitive landscape within the Application Security market. Moreover, primary research was instrumental in elucidating fundamental market dynamics, including drivers, restraints, opportunities, challenges, industry trends, and strategic initiatives market players adopt.

Following is the breakup of the primary study:

Application Security Market Size, and Share

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Market Size Estimation

Both top-down and bottom-up approaches were employed to accurately estimate and validate the size of the global Application Security market and determine the sizes of various dependent subsegments within the overarching Application Security market. The research methodology utilized for estimating market size involved several key steps: Initially, the identification of key players in the market was conducted through comprehensive secondary research. Subsequently, their revenue contributions within respective regions were assessed through a combination of primary and secondary research methods. This process entailed thoroughly examining leading market players' annual and financial reports, supplemented by extensive interviews with industry leaders, including CEOs, VPs, directors, and marketing executives, to gain valuable insights. All percentage splits and segment breakdowns were derived from secondary sources and cross-validated through primary sources to ensure accuracy and reliability.

Application Security Market Estimation

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Infographic Depicting Bottom-Up And Top-Down Approaches

Application Security Market Bottom Up and Top Down Approach

Data Triangulation

Following the determination of the overall market size using the market above size estimation methodologies, the market was segmented into distinct segments and subsegments. Data triangulation and market segmentation procedures were utilized, as needed, to complete the comprehensive market engineering process and ascertain the precise statistics for each market segment and subsegment. Data triangulation was achieved by analyzing various factors and trends from both the demand and supply sides.

Market Definition

As per VMware, Inc., ‘Application security is the process of developing, adding, and testing security features within applications to prevent security vulnerabilities against threats, such as unauthorized access and modification.’

As per MicroFocus, ‘Application security is the discipline of processes, tools, and practices aiming to protect applications from threats throughout the entire application life cycle.’

MarketsandMarkets defined Application Security as “the process of finding a vulnerability and error in a web and mobile application during a Software Development Life Cycle (SDLC), including functional and non-functional aspects of application development in a lifecycle.”

Key Stakeholders

  • Chief technology and data officers
  • Business analysts
  • Software developers and testers
  • Information Technology (IT) professionals
  • Government agencies
  • Investors and venture capitalists
  • Third-party service providers
  • Consultants/consultancies/advisory firms
  • Managed and professional service providers

Report Objectives

  • To define, describe, and forecast the Application Security market based on Type,Component, organization size, deployment mode, vertical, and region.
  • To forecast the market size of five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
  • To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.
  • To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of Application Security market.
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Application Security market.  
  • To profile the key players of the Application Security market and comprehensively analyze their market size and core competencies.  
  • Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global Application Security market.

Customization Options

With the given market data, MarketsandMarkets offers customizations based on company-specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of the Asia Pacific market into major countries.
  • Further breakup of the North American market into major countries.
  • Further breakup of the Latin American market into major countries.
  • Further breakup of the Middle East African market into major countries
  • Further breakup of the European market into major countries.

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
TC 4283
Published ON
Jun, 2024
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