The global application
security market is forecast to reach USD 22.12 Billion by 2026,
according to a new report by Reports and Data. Application security has become
an absolute necessity. With the increasing number of organizations embracing
the idea of developing their applications, the risks and vulnerabilities
associated with the security of data have also risen. The safety and security
of sensitive information is the primary concern for many businesses. This is
one of the fundamental reasons why users are hesitant to share personal
information online. The best examples of this are the online retail business
and the credit card industry. With the emerging trend of digitalization,
particularly online shopping, the Payment Card Industry (PCI) has enforced a
set of guidelines and security standards to limit the cases of credit card fraud
and make the process of online transactions secure.
Moreover, the growing importance
of security testing of these applications and their benefits are also expected
to influence the market in the coming years. Security testing for
vulnerabilities can help application developers in detecting a variety of
potential threats and weaknesses. Through in-depth analysis and sophisticated
communication methods, the testing procedure ensures that the mobile and
website applications are secured and protected against cyber-attacks.
Further key findings from
the report suggest
- Among the testing techniques, the static application
security testing (SAST) accounted for the largest market share of ~32% in
the year 2018. SAST is the simplest form of security testing for
application development. SAST tools can detect high-risk software
vulnerabilities that would affect the system throughout the software life.
It can also detect buffer overflows or cross-site problems like cross-site
scripting and cross-site request forgery.
- The interactive application security testing (IAST)
is forecasted to witness a higher growth rate of 27.5% during the forecast
period. Interactive Application Security Testing (IAST) works using
instrumentation technology. IAST leverages information from the running
application, including data flow, runtime requests, libraries, control
flow, and connections, to find vulnerabilities accurately. The interactive
tools eliminate the long process of tuning, configuration, and
customization. With interactive tools, the application is tested
continuously and automatically.
- Among the organization size, the large enterprises
accounted for a larger market share of ~69% in the year 2018, owing to the
growing investments in IoT, and mobile applications.
To identify the key trends in
the industry, click on the link below:
- The small and medium enterprises are forecasted to
witness a higher growth rate of 27.4% during the forecast period, which is
attributed to the growing demand for outsourcing services from the end-use
industries.
- North America held the largest market share of ~30%
in the year 2018. The adoption of an enterprise application in the region
is driving the market for application security. The companies in the
region are focusing more on developing a customer-centric approach and
gain competitive advantages. High penetration of cloud technology will be
another factor propelling the market in North America. Moreover, the
region is a hub for significant market vendors who are increasingly
launching new products in the market.
- Key participants include Hewlett Packard Enterprises, Veracode, IBM Corporation, Synopsys, Qualys, WhiteHat Security, Acunetix, Checkmarx, Trustwave, Rapid7, Contrast Security, High-Tech Bridge, Pradeo, SiteLock, and Fasoo, among others.
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