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Application Security Market Growing at a CAGR 16.1% | Key Player Cisco Systems, Synopsys, Micro Focus, Whitehat Security, Capegemini
MarketsandMarkets forecasts the application security market size to grow from USD 6.2 billion in 2020 to USD 13.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.1% from 2020 to 2025. Rise in the security breaches targeting business applications, increase in the usage of mobile and web based technologies and favorable government regulations to boost the growth of application security market across the globe during the forecast period.
By type, mobile application security segment to grow at a higher CAGR during the forecast period
Mobile application security ensures the confidentiality of the data transferred among mobile applications while ensuring transparency and visibility among business processes. This involves examining the structure of mobile applications and studying how they exchange data in a cohesive manner, as well as identifying the key patches, which can be easily exploited by hackers for financial gains. This enables the IT security team to identify critical application risks and rapidly secure mobile applications from potential threats through various testing capabilities, such as SAST, DAST, RASP, and IAST.
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In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period
Cloud deployment is the fastest-growing deployment model in the application security market. SMEs, in particular, have implemented cloud deployment as it enables them to focus on their core competencies, instead of spending their capital on security infrastructure. By using cloud-based security solutions, organizations can avoid costs pertaining to hardware, software, storage, and technical staff. As web and mobile applications are the primary target for attackers, securing these applications are of utmost importance. The cloud-based platform offers a centralized way to secure the web and mobile applications across the organization, throughout the application development life cycle.
The application security market includes major vendors, such as IBM(US), HCL Software (India), Cisco Security Systems (US), Synopsys(Canada), Checkmarx(Israel), Veracode(US), MicroFocus (UK), WhiteHat Security(US), Capegemini(France), Rapid7(US), Onapsis(US), GitLab(US), CAST (France), Contrast Security(US), Qualys (US), VMware(US), OneSpan(US), Trustwave(US), Imperva(US), F5 Networks (US), Acunetix (Malta), NowSecure(US), Pradeo(France), Lookout(US), Data Theorem(US), Zimperium (US), Kryptowire(US). These players have adopted different growth strategies to expand their global presence and increase their market shares. New product launches, partnerships, and acquisitions are some of the important strategies adopted by the major players to grow further in the application security market.
IBM operates through various segments, such as cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM’s main activity is to find solutions for its wide range of clients that make use of advanced technologies. Its clients comprise individual users, specialized businesses, and institutions, such as government, IT, defense, and educational organizations. The company offers solutions to various verticals, such as IT, healthcare, life sciences, government, telecom, automobile, manufacturing, Fast-Moving Consumer Goods (FMCG), chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, BFSI, travel and transportation, and education. The company is present in North America, Europe, APAC, the MEA, and Latin America.
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HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. Our technology products and services are built on four decades of innovation, with a world-renowned management philosophy, a strong culture of invention and risk-taking, and a relentless focus on customer relationships. HCL also takes pride in its several diversity, social responsibility, sustainability, and education initiatives. The company’s ecosystem consists of close to 150 companies in various technology areas with which we form go-to-market alliances, specialist partnerships for niche technologies, and partnerships for specific customer requirements. The ecosystem of alliances allows the company to provide best-in-class solutions that meet customers business requirements. The company’s worldwide network of R&D facilities and co-innovation labs, global delivery capabilities, and over 150,000 employees across 49 countries. HCL delivers holistic services across verticals to leading enterprises, including 250 of the Fortune 500 and 650 of the Global 2000.
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