Dallas, Texas, September 11, 2022 (GLOBE NEWSWIRE) – World Size Application Security Software Market It is estimated at $5,973.00 million in 2020 and is expected to grow at a compound annual growth rate of 16.7% to reach $15,941.00 million by 2030.
The key drivers for the growth of the global application security software market include the growing need for application security in the banking industry, the increase in data and security breaches, the increasing demand for mobile application security services, the deployment of the Internet of Things, the increasing demand for mobile applications based on SaaS security, and the growing importance of web security and privacy concerns. Modern digital infrastructure is built on business applications and data sharing across multiple platforms and devices.
Cybercriminals are increasingly focusing on corporate data. Web application adoption is a growing area of interest for hackers. Over the past year, web applications have emerged as a vector that hackers are gradually turning their attention to. The majority of companies have adopted many digital transformation projects that increase the risk of security breaches. Application security is essential since sensitive data is compromised on a daily basis and breaches lead to bad press and huge financial losses.
Security breaches remain a threat to consumers and businesses alike. Today’s highly connected corporate world is accelerating the development of digital products and related tools and services.
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Application Security Software Market Scope:
|The study period||2020-2030|
|Market size in 2031||15,941.00 Million USD|
|covered part||Deployment model, industry, end use, regions|
|Covered types||Web application security, mobile application security|
|Publishing mode covered||Cloud-based and on-premises|
|End use coverage||Retail, healthcare, government, BFSI, education, energy, utilities, manufacturing, media and entertainment, ICT, etc.|
|Covered areas||North America, Europe, Asia Pacific, Middle East, Africa and South America|
|Key players at a glance||IBM, Cisco Systems, Capgemini, WhiteHat Security, HCL Software, MicroFocus, Oracle, Qualys, GitLab, Synopsys|
Communication between business-critical data and applications shared across platforms, devices, and users provides the foundation of a digital infrastructure. Cybercriminals are interested in business applications because they contain important corporate data. On the other hand, companies put hundreds of apps at risk when the apps are limited to business-critical tasks, such as ordering products and services or engaging in payment-related activities. Unused business critical applications are considered malicious because they are often outdated. Many small and medium businesses believe that investing in these types of applications will be costly for business.
In terms of solutions, the global application security software market has dominated in 2019. The increasing use of web application security to protect online services or websites from attacks or hacks is largely responsible for application security software integration. The goal of web application security software is to protect online content that contains sensitive data. Web application tools make it easy to access vulnerabilities and identify threats. Enterprise web application security is essential, and when security breaches rise, they have a significant impact on the global application security software market expansion.
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The Asia Pacific region has the highest market share. The increasing frequency of security breaches targeting enterprise applications is one of the major factors driving the application security industry in the Asia Pacific region. IBM, Qualys, and Checkmarx are some of the top application providers serving the Asia Pacific region. SMEs are well represented in the Asia Pacific region. Organizations in this region use open source applications more often for security tests due to the lack of funding for cybersecurity, which has a high potential for breach issues, operational risks, and malpractices.
To facilitate multi-cloud service delivery, Micro Focus Hybrid Cloud Management X developed in September 2020. The product is a multi-tenant management platform which is cloud native and can be used on premises or in the public cloud. For example, “Fortify on Demand,” an AWS GovCloud application security assessment service was announced by MicroFocus in June 2020. The service can serve important federal agencies by providing more testing and managing vulnerabilities.
Key points from the table of contents:
2. Research Methodology
3. Market outlook
4. Application Security Software Market by Deployment Model, 2022-2029 (US$ Billion)
5. Application Security Software Market by Industry, 2022-2029 (US$ Billion)
6. Application Security Software Market by End Use, 2022-2029 (US$ Billion)
7. Application Security Software Market by Price Range, 2022-2029 (US$ Billion)
8. Application Security Software Market by Region, 2022-2029 (US$ Billion)
9. Competitive landscape
10. Company Profiles
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