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Application Security Market Report

RA05735

Application Security Market by Type, Component, Deployment, Organization Size, Vertical , and Regional Analysis: Global Opportunity Analysis and Industry Forecast, 2020–2027

COVID-19

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industries.

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Impact of covid-19 on Application Security Market

The global application security market is predicted to garner $9779.8 million by 2027, rising from $2994 million in 2019 at a healthy rate of 16.1%. The Asia Pacific application security market is anticipated to grow at a CAGR of 16.9% by generating a revenue of $2242.5 million during the review period. Strategic alliance among market players, along with the launching of advanced application security services, is expected to accelerate the Asia Pacific application security market growth.  

Application Security Market Analysis:

Application security is a type of security that will scan all kinds of faults, credibility, threats and protect data from attackers. The main purpose of application security is to protect data and identify defects of software network that can cause loss of important data or data breach in a company.

Impact Analysis of COVID-19 on the Global Application Security Market

The global application security market is experiencing a higher growth rate during the outbreak of the COVID-19. Due to the covid crisis, all businesses across the world have been facing challenges. Most people are entirely dependent upon networking to stay connected with each other. Professionals in healthcare facilities have experienced a lot of pressure as they have to stay connected with patients and other people on calls, chats and emails for emergencies. Application security plays a crucial role in securing all type of conversational data, information and online transactions. 

In addition to this, several companies, with their strategic steps, are helping the society to recover from the chaotic situation that COVID-19 has brought with itself. For instance, in May 2020, ImmuniWeb, a significant AI Platform for application security testing, made an announcement to provide ‘free cost web and mobile security testing services’ during the COVID-19 pandemic. The company is also providing free solutions and services to ventures that are migrating their workflows to the digital space. The above-stated support and company developments may generate substantial investment opportunities in the application security market, amidst the COVID-19 crisis.

Rising demand for security solutions across the industries is anticipated to boost the market growth and generate remarkable revenue for the global application security market

The global application security industry is witnessing massive growth mainly due to increase in cyber-threats such as ransomware, phishing attacks, and others threats across the world. Therefore, higher endpoint protection is needed to overcome such type of crimes related to security. Such key factors may surge the growth of the security testing market, throughout the forecast period. Moreover, as per data published by Cybint, an international cyber education leader, around 62% of the businesses witnessed social engineering attacks and phishing in 2018. For instance, in February 2020, HCL Technologies Limited announced that it is going to launch ‘HCL Appscan’, which is a set of security testing tools that ensures business security from cyber-attacks. Furthermore, it has the capability to discover and remediate application vulnerabilities in every phase of the development lifecycle, to reduce exposure to cyber threat. Such above-stated key factors may create exponential demand for application security technologies in the global marketplace throughout the analysis timeframe.

To know more about global application security market drivers, get in touch with our analysts here.

Expensive application security services may restrain the growth of the global application security industry 

The higher cost of application security tools is expected to restrain the growth of the global market in the forecast period. Moreover, complication in terms of confidential data and lack of knowledge about application security are key issues that may create a negative impact on the global application security market during the forecast period.

The growing prominence of artificial intelligence and machine learning in industry verticals may create huge opportunities for the global application security market in the future

The global application security market is growing at a very fast pace due to increase in the adoption of artificial intelligence and machine learning for mobile and web application. Application security in artificial intelligence helps in overcoming the challenges such as identifying security vulnerabilities, security threats and cyber-attacks. Moreover, the exponentially increased adoption of artificial intelligence and machine learning has majorly provided crucial advantages such as detection and remediation of malwares, feasibility to host security testing tools, and detection of all possible security risks. In addition, government and defense sector are major growth accelerating factors of the application security market since these sectors secure government’s confidential data from large breaches. For instance, as per data published by Cybint, an international cyber education leader, around 62% of the businesses witnessed social engineering attacks and phishing in 2018. Furthermore, approximately 59% of enterprises have experienced malicious code and botnets attacks worldwide. In addition to this, as per the news published by IANS (Indo-Asian News Service), India has seen around 37% growth in cyber-attacks in the 1st quarter 2020, as compared to the 4th quarter of 2019. Such key elements may further lead to lucrative market opportunities in the global application security market in the upcoming years.

To know more about global application security market opportunities, get in touch with our analysts here

 Global Application Security Market, by Type:

Mobile type sub-segment shall generate a revenue of $5,367.60 million by 2027 mainly   because of its various applications in detection of cyber vulnerabilities

Global Application Security Market, by Type	 

Source: Research Dive Analysis 

The mobile application security type sub-segment shall have a dominating market share in the global market and is expected to register a revenue of $ 5,367.6 million during the forecast period. Mobile application security helps in protecting data from vulnerabilities such as unauthorized password and pin cracking, unauthorized tethering, geo-location data leakage, and configuration data leakage. Moreover, key players operating in the global application security market are adopting strategic collaborations to offer advanced application security testing platforms to businesses. For instance, in February 2020, NowSecure, a pioneer in the integrated security testing, announced that they have recently introduced the world’s 1st ‘Interactive Application Security Testing’ (IAST) technology, developed for smartphone apps. This innovation offers app developers and security analysts with enhanced visibility into vulnerabilities of applications and privacy challenges in DevSecOps and Agile scenarios. These strategic alliances may bolster the growth of segment during the forecast period. 

Furthermore, the web application security market shall have the fastest market growth and it is predicted that the market shall generate a revenue of $4,412.2 million by 2027, growing from $1,290.8 million in 2019. The growth of the web application security segment for the global application security market is mainly attributed to its wide application in protecting online services or websites from threats or breaches. The aim of web application security is the protection of content across websites that possess highly confidential data. Web application tools help in accessing vulnerabilities and determining risks. Such key factors may have significant impact on market growth during the projected period. 

Global Application Security Market, by Component Type:

The global services sub-segment for the application security market is anticipated to have rapid market growth mainly due to increased instances of malicious activities in professional services and managed services    

Global Application Security Market, by Component Type	 

Source: Research Dive Analysis

The services sub-segment of the global application security market will have the fastest growth and it is projected to surpass $4,115.7 million by 2027, with an increase from $1,110.1 million in 2019. This growth in the market can be attributed to rising demand for application security solutions for Software as a Service (SaaS), and therefore the application security market is expected to grow in the upcoming years. More such initiatives may increase the demand for services and further surge the global application security market growth.

Furthermore, software sub-segment is anticipated to have a dominating market share in the global market and is anticipated to register a revenue of $5,664.2 million during the analysis timeframe. In recent years, majority of organizations operating in the global industrial sector have been using social platforms such as Facebook, YouTube, and Twitter for releasing, promoting, and selling their products & services. These will rise the security breaches and it will targeting businesses, organizations across the globe; therefore deployment of application security solutions will safeguard mobile and web applications. These element may create huge opportunities for the sub-segment throughout the forecast period.

Global Application Security Market, by Deployment Type:

The cloud sub-segment for the application security market will have rapid market growth mainly due to increasing deployment of Cloud application security     for monitoring unauthorized access, account hijacking and insecure APIs and interfaces
 

Global Application Security Market, by Deployment Type	 

Source: Research Dive Analysis

The cloud sub-segment of the global application security market is predicted to have rapid growth and it is expected to surpass $4,412.6 million by 2027, with an increase from $1,141.5 million in 2019 owing to its characteristics such as its effectiveness in cost and its integrated safety in various industries, small and large. Also, in July 2020, Carbonetes, a notable player in cloud technologies, announced to launch cloud native container application security testing (CAST)-as-a-Service solution, to provide ventures with the seamless capability to analyze the security of containerized code in real-time, and it is expected to flourish the global market in upcoming years.

On-premise sub-segment is also predicted to have a dominating market share in the global market and is expected to register a revenue of $5,367.3 million, during the analysis timeframe owing to its adoption in organizations that need full control of systems, data, platforms and applications. Moreover, the systems are handled and controlled by IT employees. As per data published by Cybint, an international cyber education leader, around 62% of businesses witnessed social engineering attacks and phishing in 2018. Furthermore, approximately 59% of enterprises have experienced malicious code and botnets attacks worldwide. Such factors may create huge opportunities for the sub-segment throughout the forecast period.

Global Application Security, by Organization Size:

Small enterprises will have significant growth in the global market mainly because due to increasing frequency of security breaches that are targeting business applications

Global Application Security, by Organization Size	 

Source: Research Dive Analysis

SMEs in application security market shall be the fastest growing sub-segment and it is anticipated to generate a revenue of $4,402.1 million by 2027 during the forecast period. Criminal offense is rapidly increasing and security breaches affect businesses in different ways such as contravention of data and payment. Hence, SMEs involved in security testing solutions are coming forward with advanced application security solutions that provide advantages such as simulate a real-world attack, exploit vulnerabilities, and pillage sensitive data. Such type initiatives may create a positive impact on the application security sub-segment during the forecast timeframe.

Large business organizations are also predicted to garner a dominant market share in the global market and is expected to register a revenue of $5,377.8 million during the analysis timeframe. The increasing focus on advanced application security platforms that cover confidentiality, availability, integrity, authorization and tractability of data will drive the demand for application security in large businesses. Moreover to the F5 Labs, applications and web are approximately 30% affected by security breaches and on an average of USD 8 million per breach. These factor will drive the sub-segment growth and eventually demand for application security market in upcoming years.

Global Application Security Market, by Vertical Type: 

The BFSI sub-segment is predicted to generate a dominating market share and a revenue of $2019.3 million by 2027, mainly because of significant growth in internet banking also increases the pressure on BFSI sector to make all transaction and payment secure 
Global Application Security Market, by Vertical Type	 

The BFSI application security sub-segment is anticipated to have a dominating market share and it is expected to generate a remarkable revenue of $2019.3 million by 2027 mainly because of application security under this sub-segment can detect hidden bugs and defects that can cause a breach in confidential data. For instance, Veracode, one of the largest independent global providers of best security analyzer on March 2020, announced that they are providing their platform to OneSpan Inc., to secure and protect financial institutions and other enterprises from cyber-attacks. These type of initiatives and effective strategies may further create a positive impact on the sub-segment during the forecast timeframe.

IT and Telecommunication sub-segment is predicted to be the fastest growing sub-segment and it is anticipated to generate a revenue of $1,538.5 million by 2027, during the forecast period, owing to adoption of application security by IT and telecommunication that helps in prevention for potential security breaches and malicious threats that can have a huge impact on your organization. IT application security offers security of confidentiality of organization’s data. There are different types of IT security such as, network security, internet security, endpoint security, cloud security and application security. Such factors will flourish the growth of sub-segment throughout the forecast period.    

Regional Insights:

North America region is anticipated to have a lucrative market and it is predicted to reach up to $2976.0 million by the end of 2027, mainly because of the increment in market players, technological advancements, and their adoption

Regional Insights	 

Source: Research Dive Analysis

The North America application security market accounted for $959.0 million in 2019 and is projected to register a revenue of $2976.0 million by 2027. The extensive growth of the North America application security market is mainly driven by the increasing penetration of mobile devices and cloud-based networking across the globe.  Increasing number of internet users, increasing adoption of IoT devices and strict government & industry regulations for the security of business processes will accelerate the application security market. Moreover, the strong presence of leading application security providers and manufacturers is fueling the market growth across the globe. For instance, in September 2020, International Business Machine Corporation (IBM), announced that it is soon going to launch a new service of quantification of risk that will help clients to quantify, prioritize, and identify security risks for businesses. These factors will ultimately drive the demand in the application security market across the region. 

The share of Asia-Pacific application security market is anticipated to grow at a CAGR of 16.9% by registering a revenue of $2242.5 million by 2027. The growth shall be a result of increasing adoption of application security solutions among SMEs and large businesses that will extensively raise cyber threats. For instance, Synerzip, LLC. On March 2019, announced that they are in collaboration with Amazon Web Services, Inc. (AWS) for development of cloud-based security solution for 5000 Fortune companies. Such developments and initiatives will increase the market growth, which will eventually boost the Asia-Pacific application security market in the upcoming years.    

Competitive Scenario in the Global Application Security Market:

The advanced technology development coupled with mergers & acquisitions are the frequent strategies followed by the significant market players
Competitive Scenario in the Global Application Security Market	 

Source: Research Dive Analysis

Some of the leading application security market players include IBM, Cisco Systems, Data Theorem, Hewlett Packard Enterprise Development LP, WhiteHat Security, Inc., NowSecure, Acunetix, LOOKOUT, Zimperium and Kryptowire. Application security market players are focusing on mergers & acquisitions and advanced technical developments. These are the effective strategies followed by startup as well as established organizations.

Porter’s Five Forces Analysis for Application Security Market:

  • supplier if the there is a hike in the price of a particular material. Thus, there is less threat from the suppliers. Thus, the bargaining power suppliers is Moderate.: The suppliers in the application security market are high in number. Several companies are working on product design that uses different raw materials to avoid changing the Bargaining Power of Suppliers
  • Bargaining Power of Buyer: Buyers will have huge bargaining power; they demand best services at low prices. This will increase the pressure on the application security test providers to offer the best service in a cost-effective way. Thus, buyers can freely choose the convenient service that best fits their preferences. Thus, the bargaining power of the buyer is HIGH.
  • Threat of New Entrants: Companies entering into the application security testing market are adopting technological innovations such as developing an innovative software application to attract clients. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. Thus, the threat of the new entrants is Moderate.
  • Threat of Substitutes: There is no alternative product for application security solutions. Thus, the threat of substitutes is Low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including IBM, Cisco Systems and Hewlett Packard Enterprise Development LP. These companies are launching their value-added services in the international market and strengthening the footprint worldwide. Therefore, competitive rivalry in the market is High.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Web Application Security
  • Mobile Application Security

  Segmentation by Component

  • Software
  • Services

  Segmentation by Deployment type

  • Cloud 
  • On-premise

  Segmentation by Organization Size

  • Small & Medium
  • Large

  Segmentation by Verticals

  • BFSI
  • Retail and E-commerce
  • Government and Public Sector
  • Healthcare
  • Telecommunication
  • Education
  • IT and ITES
  • Other verticals

 

  Key Countries Covered

The U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Rest of Europe, China, Australia, Japan, India, South Korea, Rest of Asia-Pacific, Latin America, Middle East, and Africa

 

  Key Companies Profiled

  • IBM
  • Cisco Systems
  • Data Theorem
  • Hewlett Packard Enterprise Development LP
  • WhiteHat Security, Inc.
  • NowSecure
  • Acunetix
  • LOOKOUT
  • Zimperium
  • Kryptowire

Frequently Asked Questions
 

A. The global application security market size was over $2994.0 million in 2019 and is projected to reach $9779.8 million by 2027.

A. IBM, Cisco Systems, and WhiteHat Security, Inc. are some of the key players in the global application security market.

A. The Asia Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia Pacific application security market is anticipated to grow at 16.9% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

A. Hewlett Packard Enterprise Development LP and Cisco Systems companies are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By type trends
2.3.By component trends
2.4.By deployment trends
2.5.By organization size trends
2.6.By vertical trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape

3.8.Pricing overview

3.8.1.by type
3.8.2.by component 
3.8.3.by deployment 
3.8.4.by organization size 
3.8.5.by vertical

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis

3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Application security Market, by type

4.1.Web Application Security

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027

4.2.Mobile Application Security

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027

5.Application security Market, by component

5.1.Software

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027

5.2.Services

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027

6.Application security Market, by deployment

6.1.Cloud

6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019 & 2027

6.2.On-Premise

6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019 & 2027

7.Application security Market, by organization size

7.1.Small & Medium

7.1.1.Market size and forecast, by region, 2019-2027
7.1.2.Comparative market share analysis, 2019 & 2027

7.2.Large

7.2.1.Market size and forecast, by region, 2019-2027
7.2.2.Comparative market share analysis, 2019 & 2027

8.Application security Market, by vertical

8.1.BFSI

8.1.1.Market size and forecast, by region, 2019-2027
8.1.2.Comparative market share analysis, 2019 & 2027

8.2.Retail and E-commerce

8.2.1.Market size and forecast, by region, 2019-2027
8.2.2.Comparative market share analysis, 2019 & 2027

8.3.Government and Public sector

8.3.1.Market size and forecast, by region, 2019-2027
8.3.2.Comparative market share analysis, 2019 & 2027

8.4.Healthcare

8.4.1.Market size and forecast, by region, 2019-2027
8.4.2.Comparative market share analysis, 2019 & 2027

8.5.Telecommunication

8.5.1.Market size and forecast, by region, 2019-2027
8.5.2.Comparative market share analysis, 2019 & 2027

8.6.Education

8.6.1.Market size and forecast, by region, 2019-2027
8.6.2.Comparative market share analysis, 2019 & 2027

8.7.IT and ITES

8.7.1.Market size and forecast, by region, 2019-2027
8.7.2.Comparative market share analysis, 2019 & 2027

8.8.Other verticals

8.8.1.Market size and forecast, by region, 2019-2027
8.8.2.Comparative market share analysis, 2019 & 2027

9.Application security Market, by Region

9.1.North America

9.1.1.Market size and forecast, by type, 2019-2027
9.1.2.Market size and forecast, by component, 2019-2027
9.1.3.Market size and forecast, by deployment, 2019-2027
9.1.4.Market size and forecast, by organization size, 2019-2027
9.1.5.Market size and forecast, by vertical, 2019-2027
9.1.6.Market size and forecast, by country, 2019-2027
9.1.7.Comparative market share analysis, 2019 & 2027

9.1.8.U.S.

9.1.8.1.Market size and forecast, by type, 2019-2027
9.1.8.2.Market size and forecast, by component, 2019-2027
9.1.8.3.Market size and forecast, by deployment, 2019-2027
9.1.8.4.Market size and forecast, by organization size, 2019-2027
9.1.8.5.Market size and forecast, by vertical, 2019-2027
9.1.8.6.Comparative market share analysis, 2019 & 2027

9.1.9.Canada

9.1.9.1.Market size and forecast, by type, 2019-2027
9.1.9.2.Market size and forecast, by component, 2019-2027
9.1.9.3.Market size and forecast, by deployment, 2019-2027
9.1.9.4.Market size and forecast, by organization size, 2019-2027
9.1.9.5.Market size and forecast, by vertical, 2019-2027
9.1.9.6.Comparative market share analysis, 2019 & 2027

9.1.10.Mexico

9.1.10.1.Market size and forecast, by type, 2019-2027
9.1.10.2.Market size and forecast, by component, 2019-2027
9.1.10.3.Market size and forecast, by deployment, 2019-2027
9.1.10.4.Market size and forecast, by organization size, 2019-2027
9.1.10.5.Market size and forecast, by vertical, 2019-2027
9.1.10.6.Comparative market share analysis, 2019 & 2027

9.2.Europe

9.2.1.Market size and forecast, by type, 2019-2027
9.2.2.Market size and forecast, by component, 2019-2027
9.2.3.Market size and forecast, by deployment, 2019-2027
9.2.4.Market size and forecast, by organization size, 2019-2027
9.2.5.Market size and forecast, by vertical, 2019-2027
9.2.6.Market size and forecast, by country, 2019-2027
9.2.7.Comparative market share analysis, 2019 & 2027

9.2.8.Germany 

9.2.8.1.Market size and forecast, by type, 2019-2027
9.2.8.2.Market size and forecast, by component, 2019-2027
9.2.8.3.Market size and forecast, by deployment, 2019-2027
9.2.8.4.Market size and forecast, by organization size, 2019-2027
9.2.8.5.Market size and forecast, by vertical, 2019-2027
9.2.8.6.Comparative market share analysis, 2019 & 2027

9.2.9.UK

9.2.9.1.Market size and forecast, by type, 2019-2027
9.2.9.2.Market size and forecast, by component, 2019-2027
9.2.9.3.Market size and forecast, by deployment, 2019-2027
9.2.9.4.Market size and forecast, by organization size, 2019-2027
9.2.9.5.Market size and forecast, by vertical, 2019-2027
9.2.9.6.Comparative market share analysis, 2019 & 2027

9.2.10.France

9.2.10.1.Market size and forecast, by type, 2019-2027
9.2.10.2.Market size and forecast, by component, 2019-2027
9.2.10.3.Market size and forecast, by deployment, 2019-2027
9.2.10.4.Market size and forecast, by organization size, 2019-2027
9.2.10.5.Market size and forecast, by vertical, 2019-2027
9.2.10.6.Comparative market share analysis, 2019 & 2027

9.2.11.Spain

9.2.11.1.Market size and forecast, by type, 2019-2027
9.2.11.2.Market size and forecast, by component, 2019-2027
9.2.11.3.Market size and forecast, by deployment, 2019-2027
9.2.11.4.Market size and forecast, by organization size, 2019-2027
9.2.11.5.Market size and forecast, by vertical, 2019-2027
9.2.11.6.Comparative market share analysis, 2019 & 2027

9.2.12.Italy 

9.2.12.1.Market size and forecast, by type, 2019-2027
9.2.12.2.Market size and forecast, by component, 2019-2027
9.2.12.3.Market size and forecast, by deployment, 2019-2027
9.2.12.4.Market size and forecast, by organization size, 2019-2027
9.2.12.5.Market size and forecast, by vertical, 2019-2027
9.2.12.6.Comparative market share analysis, 2019 & 2027

9.2.13.Rest of Europe

9.2.13.1.Market size and forecast, by type, 2019-2027
9.2.13.2.Market size and forecast, by component, 2019-2027
9.2.13.3.Market size and forecast, by deployment, 2019-2027
9.2.13.4.Market size and forecast, by organization size, 2019-2027
9.2.13.5.Market size and forecast, by vertical, 2019-2027
9.2.13.6.Comparative market share analysis, 2019 & 2027

9.3.Asia Pacific

9.3.1.Market size and forecast, by type, 2019-2027
9.3.2.Market size and forecast, by component, 2019-2027
9.3.3.Market size and forecast, by deployment, 2019-2027
9.3.4.Market size and forecast, by organization size, 2019-2027
9.3.5.Market size and forecast, by vertical, 2019-2027
9.3.6.Market size and forecast, by country, 2019-2027
9.3.7.Comparative market share analysis, 2019 & 2027

9.3.8.China

9.3.8.1.Market size and forecast, by type, 2019-2027
9.3.8.2.Market size and forecast, by component, 2019-2027
9.3.8.3.Market size and forecast, by deployment, 2019-2027
9.3.8.4.Market size and forecast, by organization size, 2019-2027
9.3.8.5.Market size and forecast, by vertical, 2019-2027
9.3.8.6.Comparative market share analysis, 2019 & 2027

9.3.9.India 

9.3.9.1.Market size and forecast, by type, 2019-2027
9.3.9.2.Market size and forecast, by component, 2019-2027
9.3.9.3.Market size and forecast, by deployment, 2019-2027
9.3.9.4.Market size and forecast, by organization size, 2019-2027
9.3.9.5.Market size and forecast, by vertical, 2019-2027
9.3.9.6.Comparative market share analysis, 2019 & 2027

9.3.10.Australia 

9.3.10.1.Market size and forecast, by type, 2019-2027
9.3.10.2.Market size and forecast, by component, 2019-2027
9.3.10.3.Market size and forecast, by deployment, 2019-2027
9.3.10.4.Market size and forecast, by organization size, 2019-2027
9.3.10.5.Market size and forecast, by vertical, 2019-2027
9.3.10.6.Comparative market share analysis, 2019 & 2027

9.3.11.Rest of Asia Pacific

9.3.11.1.Market size and forecast, by type, 2019-2027
9.3.11.2.Market size and forecast, by component, 2019-2027
9.3.11.3.Market size and forecast, by deployment, 2019-2027
9.3.11.4.Market size and forecast, by organization size, 2019-2027
9.3.11.5.Market size and forecast, by vertical, 2019-2027
9.3.11.6.Comparative market share analysis, 2019 & 2027

9.4.LAMEA

9.4.1.Market size and forecast, by type, 2019-2027
9.4.2.Market size and forecast, by component, 2019-2027
9.4.3.Market size and forecast, by deployment, 2019-2027
9.4.4.Market size and forecast, by organization size, 2019-2027
9.4.5.Market size and forecast, by vertical, 2019-2027
9.4.6.Market size and forecast, by country, 2019-2027
9.4.7.Comparative market share analysis, 2019 & 2027

9.4.8.Latin America  

9.4.8.1.Market size and forecast, by type, 2019-2027
9.4.8.2.Market size and forecast, by component, 2019-2027
9.4.8.3.Market size and forecast, by deployment, 2019-2027
9.4.8.4.Market size and forecast, by organization size, 2019-2027
9.4.8.5.Market size and forecast, by vertical, 2019-2027
9.4.8.6.Comparative market share analysis, 2019 & 2027

9.4.9.Middle East 

9.4.9.1.Market size and forecast, by type, 2019-2027
9.4.9.2.Market size and forecast, by component, 2019-2027
9.4.9.3.Market size and forecast, by deployment, 2019-2027
9.4.9.4.Market size and forecast, by organization size, 2019-2027
9.4.9.5.Market size and forecast, by vertical, 2019-2027
9.4.9.6.Comparative market share analysis, 2019 & 2027

9.4.10.Africa

9.4.10.1.Market size and forecast, by type, 2019-2027
9.4.10.2.Market size and forecast, by component, 2019-2027
9.4.10.3.Market size and forecast, by deployment, 2019-2027
9.4.10.4.Market size and forecast, by organization size, 2019-2027
9.4.10.5.Market size and forecast, by vertical, 2019-2027
9.4.10.6.Comparative market share analysis, 2019 & 2027

10.Company profiles

10.1.IBM

10.1.1.Business overview
10.1.2.Financial performance
10.1.3.Product portfolio
10.1.4.Recent strategic moves & developments
10.1.5.SWOT analysis

10.2.Cisco Systems

10.2.1.Business overview
10.2.2.Financial performance
10.2.3.Product portfolio
10.2.4.Recent strategic moves & developments
10.2.5.SWOT analysis

10.3.Data Theorem

10.3.1.Business overview
10.3.2.Financial performance
10.3.3.Product portfolio
10.3.4.Recent strategic moves & developments
10.3.5.SWOT analysis

10.4.Hewlett Packard Enterprise Development LP

10.4.1.Business overview
10.4.2.Financial performance
10.4.3.Product portfolio
10.4.4.Recent strategic moves & developments
10.4.5.SWOT analysis

10.5.WhiteHat Security, Inc.

10.5.1.Business overview
10.5.2.Financial performance
10.5.3.Product portfolio
10.5.4.Recent strategic moves & developments
10.5.5.SWOT analysis

10.6.NowSecure

10.6.1.Business overview
10.6.2.Financial performance
10.6.3.Product portfolio
10.6.4.Recent strategic moves & developments
10.6.5.SWOT analysis

10.7.Acunetix

10.7.1.Business overview
10.7.2.Financial performance
10.7.3.Product portfolio
10.7.4.Recent strategic moves & developments
10.7.5.SWOT analysis

10.8.LOOKOUT

10.8.1.Business overview
10.8.2.Financial performance
10.8.3.Product portfolio
10.8.4.Recent strategic moves & developments
10.8.5.SWOT analysis

10.9.Zimperium

10.9.1.Business overview
10.9.2.Financial performance
10.9.3.Product portfolio
10.9.4.Recent strategic moves & developments
10.9.5.SWOT analysis

10.10.Kryptowire

10.10.1.Business overview
10.10.2.Financial performance
10.10.3.Product portfolio
10.10.4.Recent strategic moves & developments
10.10.5.SWOT analysis

Application security is the process of making applications more secure by detecting, enhancing, and fixing the security of applications. It is a type of security that scans all kinds of threats, credibility, and faults and protects the applications from attackers. The key purpose of the application security is to browse all types of defects from the software network that can cause the loss of confidential data or information. Protecting applications is becoming very crucial as hackers are increasingly targeting applications across the globe.

Impact of COVID-19 on the Application Security Industry

The global application security market is witnessing a massive growth amidst the outbreak of the COVID-19 pandemic. Owing to COVID-19 crisis, all the organizations across the world are facing several challenges. Nearly all the people are totally dependent on networking to stay connected with each other. During the pandemic, health care professionals have come across a lot of pressure in order to stay connected with patients through call, chats, and emails. Thus, to secure all types of online transactions, conversational data, and information, application security plays a very crucial role. 

Moreover, several firms are coming up with strategic steps to help the society amidst the chaotic situation of the COVID-19 pandemic. For instance, in May 2020, ImmuniWeb, a significant AI platform for application security testing, announced that it will provide ‘free cost web and mobile security testing services’ during the COVID-19 pandemic. The company also claimed to provide free services and solutions to businesses that are shifting their workflows to the digital space. The aforementioned support and company developments are anticipated to generate investment opportunities for application security tools in the global marketplace, amidst the COVID-19 crisis.

Key Developments in the Industry

The key companies operating in the industry are adopting several growth strategies & business tactics such as mergers & acquisitions, collaborations, partnerships, and launches to maintain a strong position in the overall market, which is subsequently assisting the application security market to grow across the world.

For instance in January 2021, IBM, an American multinational technology and consulting firm, collaborated with Wildcraft to drive greater customer advocacy.

Moreover, in January 2021, Cisco Systems, American multinational technology conglomerate, collaborated with Eolo to lessen the digital divide in Italy.

Also, in December 2020, Lookout, the leader in mobile security, announced the discovery of Goontact, a new spyware targeting, often used for targeting iOS and Android users in several Asian countries. 

Analysis of Global Application Security Market

As per a report by Cybint, an international cyber education leader, nearly 62% of the organizations experienced phishing and social engineering attacks in 2018. Moreover, in February 2020, HCL Technologies Limited, an Indian multinational information technology services and consulting company, announced that they are going to launch ‘HCL Appscan’. It is a security testing tool that ensures that a business is protected from cyber-attacks. Moreover, this tool has the ability to detect and remediate application vulnerabilities in each phase of the development lifecycle. This helps in reducing the organization’s exposure to the cyber threat. Such novel launches related to application security are anticipated to create exponential demand for the application security technologies, in the global marketplace in the coming years. However, the higher cost of application security tools is anticipated to hinder the growth of the global application security market.

As per a newly published report by Research Dive, the global application security market is predicted to garner $9779.8 million by 2027. Geographically, North America market for application security is estimated to dominate the global industry, owing to the growing penetration of cloud based networking and mobile devices across the world.  The key players operating in the global industry include Kryptowire, IBM, Zimperium, Cisco Systems, LOOKOUT, Data Theorem, Acunetix, Hewlett Packard Enterprise Development LP, NowSecure, and WhiteHat Security, Inc. 

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