HOME Top Market Reports Application Security Market by Component (Solutions, Services), Solution (Web Application Security, Mobile Application Security), Testing Type (SAST, DAST, IAST), Deployment Mode, Organization Size, Industry Vertical, Region - Global Forecast to 2022

Application Security Market by Component (Solutions, Services), Solution (Web Application Security, Mobile Application Security), Testing Type (SAST, DAST, IAST), Deployment Mode, Organization Size, Industry Vertical, Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: TC 4283

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[153 Pages Report] The application security market size is expected to grow from USD 2.79 billion in 2017 to USD 9.0 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.4%. The base year considered for the study is 2016, while the forecast period is 2017–2022. The application security market is gaining traction due to the increasing need to protect enterprise applications and data from emerging application layer attacks. Many enterprises across the globe still use web and mobile applications that contain vulnerabilities, which if exploited, might result in huge losses for the organizations. Enterprises are expected to increase their security spending in the upcoming years to ensure robust security for their IT infrastructure.

Market Dynamics:

Drivers

  • Need to protect enterprise applications and data
  • Government Regulations
  • Increasing sophistication level of cyber-attacks
  • Increasing deployment of third-party applications

Restraints

  • Lack of awareness about cybersecurity

Opportunities

  • Increasing smartphone adoption and evolution of IoT
  • Rapid digitalization in emerging economies

Challenges

  • High deployment costs and need to quickly deploy applications to end-users

Need to protect enterprise applications and data

In today’s hyperconnected business environment, there is a rapid emergence of digital solutions, devices, and associated services. The foundation of this digital infrastructure is based on the communication between various business critical applications and data, which are shared across platforms, devices, and users. As these business applications hold critical organizational data, they have become a prime target for hackers and cybercriminals, as they increase the risk exposure in a corporate environment. Due to an increase in the security breaches targeting business applications, organizations across the world are deploying application security solutions to safeguard their web and mobile applications.

Application Security Market


The following are the major objectives of the study.

  • To define, describe, and forecast the application security market by component (solutions and services), testing type, deployment mode, organization size, industry vertical, and region
  • To provide detailed information regarding the major factors influencing the growth of the application security market (drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets1 with respect to the individual growth trends, future prospects, and contributions to the total market
  • To forecast the market size of market segments with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile the key players of the application security market and comprehensively analyze their core competencies2 in the market
  • To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global application security market

The research methodology used to estimate and forecast the application security market size begins with the capturing of data on the key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentations. The bottom-up procedure is employed to arrive at the overall global application security market size from the revenues of the key market players. After arriving at the overall market size, the total market is split into several segments and subsegments, which are then verified through primary research by conducting extensive interviews with key individuals, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures are employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of the primary participants is depicted in the figure below:

BREAKDOWN OF PRIMARY PARTICIPANTS

Application Security Market

“To know about the assumptions considered for this research report, download the pdf brochure.”

The application security ecosystem comprises application security solution vendors such as Veracode (Massachusetts, US), HPE (California, US), Synopsys (California, US), IBM (New York, US), WhiteHat Security (California, US), Qualys (California, US), Checkmarx (Tel Aviv, Israel), Acunetix (St Julians, Malta), Rapid7 (Massachusetts, US), Trustwave ( Illinois, US), High-Tech Bridge (Geneva, Switzerland), Contrast Security (California, US), SiteLock (Arizona, US), Pradeo (Paris, France), and Fasoo (New Jersey, US). It also includes application developers, system integrators, and enterprises. Other stakeholders in the application security market include Managed Security Service Providers (MSSPs), information security consulting service providers, and security auditors.

To know about the assumptions considered for the study, download the pdf brochure

Major Market Developments

  1. In March 2017, High-Tech Bridge launched ImmuniWeb Mobile to enter into mobile application security market segment.
  2. In January 2017, Synopsys released a new version of its Coverity static analysis tool with version number 8.7. The new version includes the capabilities of Cigital and Codiscope, providing enterprise level security to both mobile and web applications.
  3. In January 2017, Synopsys acquired Forcheck B.V., the Netherlands-based static analysis tool provider for Fortran applications.

Key Target Audience for Application Security Market

  • Government agencies
  • Application security solution vendors
  • Cybersecurity consultants
  • Application developers
  • Cybersecurity testers and auditors
  • IT managers
  • System integrators
  • Cybersecurity vendors
  • MSSPs
  • Application end-users

“The study answers several questions for the stakeholders, primarily, which market segments to focus on in the next 2 to 5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the application security market to forecast the revenues and analyze the trends in each of the following subsegments:

By solution

  • Web application security
  • Mobile application security

By service

  • Professional services
  • Managed services

By testing type

  • Static Application Security Testing (SAST)
  • Dynamic Application Security Testing (DAST)
  • Interactive Application Security Testing (IAST)

By deployment mode

  • Cloud
  • On-Premises

By organization size

  • Small and Medium Enterprises (SMEs)
  • Large enterprises

By industry vertical

  • Government and defense
  • BFSI
  • IT and telecom
  • Healthcare
  • Retail
  • Education
  • Others (manufacturing, oil and gas, and media and entertainment)

By region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

 

Critical questions which the report answers

  • What are the new opportunities which the application security vendors are exploring?
  • Who are the key players in the market and how intense is the competition?

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American application security market
  • Further breakdown of the European application security market
  • Further breakdown of the APAC application security market
  • Further breakdown of the MEA application security market
  • Further breakdown of the Latin American application security market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Market Opportunities in Application Security Market
    4.2 Market, By Solution, 2017–2022
    4.3 Market, By Service, 2017–2022
    4.4 Market, By Testing Type, 2017–2022
    4.5 Market, By Deployment Mode, 2017–2022
    4.6 Market, By Organization Size, 2017–2022
    4.7 Market, By Industry Vertical, 2017–2022
    4.8 Life Cycle Analysis, By Region

5 Application Security Market Overview and Industry Trends (Page No. - 33)
    5.1 Market Evolution
    5.2 Regulatory Implications
           5.2.1 The Open Web Application Security Project Foundation
           5.2.2 Common Weakness Enumeration/Sans Institute
           5.2.3 Payment Card Industry Data Security Standard
           5.2.4 Health Insurance Portability and Accountability Act/Hitech Compliance
           5.2.5 Federal Information Security Management Act
    5.3 Application Security Best Practices
           5.3.1 Best Practices for Web Application Security
           5.3.2 Best Practices for Mobile Application Security
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Need to Protect Enterprise Applications and Data
                    5.4.1.2 Government Regulations
                    5.4.1.3 Increasing Sophistication Level of Cyber-Attacks
                    5.4.1.4 Increasing Deployment of Third-Party Applications
           5.4.2 Restraints
                    5.4.2.1 Lack of Awareness About Cyber-Security
           5.4.3 Opportunities
                    5.4.3.1 Increasing Smartphone Adoption and Evolution of Iot
                    5.4.3.2 Rapid Digitalization in Emerging Economies
           5.4.4 Challenges
                    5.4.4.1 High Deployment Costs and Need to Quickly Deploy Applications for End-Users

6 Application Security Market Analysis, By Component (Page No. - 43)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Web Application Security
           6.2.2 Mobile Application Security
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Consulting
                    6.3.1.2 Training and Education
                    6.3.1.3 Support Services
           6.3.2 Managed Services

7 Application Security Market Analysis, By Testing Type (Page No. - 55)
    7.1 Introduction
    7.2 Static Application Security Testing (SAST)
    7.3 Dynamic Application Security Testing (DAST)
    7.4 Interactive Application Security Testing (IAST)

8 Application Security Market Analysis, By Deployment Mode (Page No. - 60)
    8.1 Introduction
    8.2 Cloud
    8.3 On-Premises

9 Application Security Market Analysis, By Organization Size (Page No. - 64)
    9.1 Introduction
    9.2 Large Enterprises
    9.3 Small and Medium Enterprises (SMEs)

10 Application Security Market Analysis, By Industry Vertical (Page No. - 68)
     10.1 Introduction
     10.2 Government and Defense
     10.3 Banking, Financial Services, and Insurance (BFSI)
     10.4 IT and Telecom
     10.5 Healthcare
     10.6 Retail
     10.7 Education
     10.8 Other Verticals

11 Geographic Analysis (Page No. - 77)
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia Pacific (APAC)
     11.5 Middle East and Africa (MEA)
     11.6 Latin America

12 Competitive Landscape (Page No. - 100)
     12.1 Introduction
             12.1.1 Vanguards
             12.1.2 Innovators
             12.1.3 Dynamic
             12.1.4 Emerging
     12.2 Competitive Benchmarking
             12.2.1 Product Offerings
             12.2.2 Business Strategies

13 Company Profiles (Page No. - 104)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     13.1 Fasoo
     13.2 HPE
     13.3 IBM
     13.4 Qualys
     13.5 Rapid7
     13.6 Synopsys
     13.7 Acunetix
     13.8 Checkmarx
     13.9 Contrast Security
     13.10 High-Tech Bridge
     13.11 Pradeo
     13.12 Sitelock
     13.13 Trustwave (Singtel)
     13.14 Veracode (CA Technologies)
     13.15 Whitehat Security

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 146)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (72 Tables)

Table 1 Application Security Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 2 Market Size, By Component, 2015–2022 (USD Million)
Table 3 Market Size, By Solution, 2015–2022 (USD Million)
Table 4 Solutions: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Web Application Security: Application Security Solutions Market Size, By Region, 2015–2022 (USD Million)
Table 6 Mobile Application Security: Application Security Solutions Market Size, By Region, 2015–2022 (USD Million)
Table 7 Application Security Market Size, By Service, 2015–2022 (USD Million)
Table 8 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Professional Services: Application Security Services Market Size, By Type, 2015–2022 (USD Million)
Table 10 Consulting Services: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Training and Education Services: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Support Services: Market Size, By Region 2015–2022 (USD Million)
Table 13 Managed Services: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Application Security Market Size, By Testing Type, 2015–2022 (USD Million)
Table 15 SAST: Market Size, By Region, 2014–2021 (USD Million)
Table 16 DAST: Market Size, By Region, 2015–2022 (USD Million)
Table 17 IAST: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 19 Cloud Deployment Mode: Application Security Market Size, By Region, 2015–2022 (USD Million)
Table 20 On-Premises Deployment Mode: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Market Size, By Organization Size, 2015–2022 (USD Million)
Table 22 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 23 SMEs: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Application Security Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 25 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 26 BFSI: Market Size, By Region, 2015–2022 (USD Million)
Table 27 IT and Telecom: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Healthcare: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Retail: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Education: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Other Verticals: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Market Size, By Region, 2015–2022 (USD Million)
Table 33 North America: Application Security Market Size, By Component, 2015–2022 (USD Million)
Table 34 North America: Market Size, By Solution, 2015–2022 (USD Million)
Table 35 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 36 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 37 North America: Market Size, By Testing Type, 2017–2022 (USD Million)
Table 38 North America: Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 39 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 40 North America: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 41 Europe: Application Security Market Size, By Component, 2015–2022 (USD Million)
Table 42 Europe: Market Size, By Solution, 2015–2022 (USD Million)
Table 43 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 44 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 45 Europe: Market Size, By Testing Type, 2015–2022 (USD Million)
Table 46 Europe: Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 47 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 48 Europe: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 49 APAC: Application Security Market Size, By Component, 2015–2022 (USD Million)
Table 50 APAC: Market Size, By Solution, 2015–2022 (USD Million)
Table 51 APAC: Market Size, By Service, 2015–2022 (USD Million)
Table 52 APAC: Market Size, By Professional Services, 2015–2022 (USD Million)
Table 53 APAC: Market Size, By Testing Type, 2015–2022 (USD Million)
Table 54 APAC: Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 55 APAC: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 56 APAC: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 57 MEA: Application Security Market Size, By Component, 2015–2022 (USD Million)
Table 58 MEA: Market Size, By Solution, 2015–2022 (USD Million)
Table 59 MEA: Market Size, By Service, 2015–2022 (USD Million)
Table 60 MEA: Market Size, By Professional Services, 2015–2022 (USD Million)
Table 61 MEA: Market Size, By Testing Type, 2015–2022 (USD Million)
Table 62 MEA: Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 63 MEA: urity Market Size, By Organization Size, 2015–2022 (USD Million)
Table 64 MEA: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 65 Latin America: Application Security Market Size, By Component, 2015–2022 (USD Million)
Table 66 Latin America: Market Size, By Solution, 2015–2022 (USD Million)
Table 67 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 68 Latin America: Market Size, By Professional Services, 2015–2022 (USD Million)
Table 69 Latin America: Market Size, By Testing Type, 2015–2022 (USD Million)
Table 70 Latin America: Market Size, By Deployment Mode, 2015–2022 (USD Million)
Table 71 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 72 Latin America: Market Size, By Industry Vertical, 2015–2022 (USD Million)


List of Figures (66 Figures)

Figure 1 Global Application Security Market: Market Segmentation
Figure 2 Global Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 North America to Hold Largest Share of Global Application Security Market in 2017
Figure 8 Growing Need to Protect Critical Information Technology Assets to Boost Market
Figure 9 Mobile Application Security to Record Higher Growth During 2017-2022 (USD Million)
Figure 10 Managed Services Segment to Record Higher Growth During 2017-2022 (USD Million)
Figure 11 IAST Segment to Record Highest Growth During 2017-2022 (USD Million)
Figure 12 Cloud Deployment Mode to Record Higher Growth During 2017-2022 (USD Million)
Figure 13 SME Segment to Record Higher Growth During 2017-2022 (USD Million)
Figure 14 BFSI Industry Vertical to Record Highest Growth During 2017-2022 (USD Million)
Figure 15 APAC Region Offers Immense Growth Opportunities for Application Security Market
Figure 16 Evolution of Security Testing Market
Figure 17 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Number of Smartphone Subscriptions Worldwide, 2015–2021
Figure 19 Services Segment to Record Higher Growth During 2017-2022 (USD Million)
Figure 20 Mobile Application Security to Record Higher Growth During 2017-2022 (USD Million)
Figure 21 Professional Services Segment to Hold Larger Market Share During 2017-2022 (USD Million)
Figure 22 IAST Segment to Record Highest Growth During 2017-2022 (USD Million)
Figure 23 Cloud-Based Deployment Mode to Record Higher Growth During 2017-2022 (USD Million)
Figure 24 SMEs Segment to Record Higher Growth During 2017-2022 (USD Million)
Figure 25 BFSI Vertical to Record Highest Growth During 2017-2022 (USD Million)
Figure 26 North America to Hold Largest Market Share During 2017-2022 (USD Million)
Figure 27 Regional Snapshot: APAC to Be the Emerging Application Security Market
Figure 28 North America Market Snapshot
Figure 29 APAC Market Snapshot
Figure 30 Dive Chart
Figure 31 Fasoo: Company Snapshot
Figure 32 Fasoo: Product Offering Scorecard
Figure 33 Fasoo: Business Strategy Scorecard
Figure 34 HPE: Company Snapshot
Figure 35 HPE: Product Offering Scorecard
Figure 36 HPE: Business Strategy Scorecard
Figure 37 IBM: Company Snapshot
Figure 38 IBM: Product Offering Scorecard
Figure 39 IBM: Business Strategy Scorecard
Figure 40 Qualys: Company Snapshot
Figure 41 Qualys: Product Offering Scorecard
Figure 42 Qualys: Business Strategy Scorecard
Figure 43 Rapid7: Company Snapshot
Figure 44 Rapid7: Product Offering Scorecard
Figure 45 Rapid7: Business Strategy Scorecard
Figure 46 Synopsys: Company Snapshot
Figure 47 Synopsys: Product Offering Scorecard
Figure 48 Synopsys: Business Strategy Scorecard
Figure 49 Acunetix: Product Offering Scorecard
Figure 50 Acunetix: Business Strategy Scorecard
Figure 51 Checkmarx: Product Offering Scorecard
Figure 52 Checkmarx: Business Strategy Scorecard
Figure 53 Contrast Security: Product Offering Scorecard
Figure 54 Contrast Security: Business Strategy Scorecard
Figure 55 High-Tech Bridge: Product Offering Scorecard
Figure 56 High-Tech Bridge: Business Strategy Scorecard
Figure 57 Pradeo: Product Offering Scorecard
Figure 58 Pradeo: Business Strategy Scorecard
Figure 59 Sitelock: Product Offering Scorecard
Figure 60 Sitelock: Business Strategy Scorecard
Figure 61 Trustwave (Singtel): Product Offering Scorecard
Figure 62 Trustwave (Singtel): Business Strategy Scorecard
Figure 63 Veracode (CA Technologies): Product Offering Scorecard
Figure 64 Veracode (CA Technologies): Business Strategy Scorecard
Figure 65 Whitehat Security: Product Offering Scorecard
Figure 66 Whitehat Security: Business Strategy Scorecard

The application security market is expected to grow from USD 2.79 billion in 2017 to USD 9.0 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.4%. The major growth drivers of the application security market include concerns about the increased sophistication level of threats and the Advanced Persistent Threats (APTs) causing security breaches, strict regulatory compliances, and increased deployment of third-party applications.

The application security market offers solutions and services to protect applications, both web and mobile, from any form of cyber-attack by detecting and remediating the hidden vulnerabilities. The solution is offered in the form of three security testing techniques—Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), and Interactive Application Security Testing (IAST). The testing results can be integrated with other security systems, such as Security Information and Event Management (SIEM), Web Application Firewall (WAF), Integrated Development Environments (IDEs), and bug tracking tools to provide an enhanced level of security to applications.

Among the solutions, web application security is expected to hold a larger market share than mobile application security due to its larger usage in enterprises for business-critical operations. Mobile application security is expected to grow at a faster rate than web application security due to the growing numbers of smartphone users, increasing BYOD trend, and enterprise mobility needs.

In the services segment, professional services that include consulting, training and education, and support services are expected to hold a larger market size than managed services, as professional services enable enterprises to remain robust against emerging cyber threats. Managed services are expected to grow at a CAGR higher than professional services due to to increasing demands for Software-as-a-Service (SaaS) applications among Small and Medium Enterprises (SMEs).

Among the various testing types, Interactive Application Security Testing (IAST) is expected to grow at the highest CAGR as IAST enables greater detection of internal and external vulnerabilities in the applications, which might malfunction the applications. Many application security solution vendors are planning to launch the IAST solution soon. In terms of the market size, Static Application Security Testing (SAST) is expected to hold the largest market size as SAST is used in the early phase of the Software Development Life Cycle (SDLC) and is mostly preferred by application developers.

The cloud-based deployment mode is the most preferred among the end-users, which makes it a higher contributor as well as a faster growing deployment mode as compared to the on-premises mode. Key reasons for the high adoption of cloud-based solutions are cost effectiveness, easy manageability, mobility support, and zero maintenance concerns.

SMEs and large enterprises are rapidly deploying application security services to gain complete visibility into security threats by identifying application security gaps throughout the application development lifecycle. Large enterprises are expected to hold a larger market share than SMEs, wherease SMEs are expected to witness a faster growth rate than large enterprises during the forecast period.

In the industry vertical segment, the government and defense vertical is expected to hold the largest market share in 2017. However, it is expected to be outpaced by the Banking, Financial Services, and Insurance (BFSI) vertical by the end of the forecast period. Increasing usage of web and mobile applications for financial transactions makes the BFSI vertical a lucrative target for attackers and thus, encourages higher adoption of advanced application security solutions.

The global application security market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue generating region for application security vendors in 2017. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) technologies. The APAC region is expected to be the fastest growing region in the application security market. The growth in this region is primarily driven by increasing digitalization and growing smartphone users.

Application Security Market

Usage of application security solutions in BFSI, government and defense, and retail industry verticals drive the growth of application security market

Banking, Financial Services, and Insurance

The BFSI sector mainly deals with the national and international regulations, such as Basel-III, GLBA, PCI DSS, and SOX. The industry is always on the lookout for security products and services that could protect the industry’s employees, customers, assets, offices, branches, and operations, and therefore, holds a significant share of the total application security market. This sector is continuously upgrading its processing and transaction technologies and requires end-to-end security solutions to optimize operations against both internal and external threats. With facilities such as smart banking, internet banking, and mobile banking, the BFSI sector is required to prioritize on application security.

Government and Defense

The sector has witnessed a drastic change over the past decade. The conventional insurgent activities, as well as the global threats, are creating a big challenge to the national security across the globe. Thus, the sector is equipping itself with the advancements in the IT infrastructure. The integration of technology with different functions in the government and defense is facilitating the sector to execute operations efficiently. These agencies and institutions across the globe handle critical and sensitive information serving citizens and collecting intelligence. The emerging use of IT in the sector has increased the cyber threats to sensitive information. The application security vendors offer robust security solutions to protect the critical information held by the sector. The solutions proactively help organizations mitigate the security gaps and avoid data breach.

Retail

The retail industry is always on the top in terms of cost cutting, revenue margin improvements, and adopting the latest technologies. This vertical is one of the most targeted verticals by cyber attackers because of the potential payouts and the huge number of monetary transactions made via VISA, MasterCard, and other payment processing networks. This leads to the adoption of comprehensive security solutions in this vertical, as data risk is present at all levels, from the various transactions to the confidentiality of personal information of customers and employees.

Critical questions which the report answers

  • What are the new opportunities which the application security vendors are exploring?
  • Who are the key players in the market and how intense is the competition?

The application security market faces many challenges, such as lack of awareness about advanced cyber-attacks, high deployment costs, and the need to support fast-paced Software Development Life Cycle (SDLC).

Major vendors that offer application security solutions across the globe are Veracode (Massachusetts, US), Hewlett Packard Enterprises (California, US), Synopsys (California, US), IBM Corporation (New York, US), WhiteHat Security (California, US), Qualys (California, US), Checkmarx (Tel Aviv, Israel), Acunetix (St Julians, Malta), Rapid7 (Massachusetts, US), Trustwave (Singtel Illinois, US), High-Tech Bridge (Geneva, Switzerland), Contrast Security (California, US), SiteLock (Arizona, US), Pradeo (Paris, France), and Fasoo (New Jersey, US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their offerings in the information security market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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