Application Security Market Insights - Global Analysis and Forecast by 2032
The Application Security Market: An Overview
The application security market refers to the tools, services, and solutions focused on identifying, remediating, and securing vulnerabilities across software applications and APIs. Application security is a critical subset of the broader cybersecurity market. The Application Security market industry is projected to grow from USD 9.93 Billion in 2023 to USD 34.57 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.87% during the forecast period (2023 - 2032)
Key application security market segments include:
Solutions – web application firewalls (WAF), software composition analysis (SCA), runtime application self-protection (RASP), interactive application security testing (IAST), and others.
Services – consulting, integration, managed security services that support application security programs.
Deployment modes – on-premise and cloud-based application security solutions.
Organization size - SMBs and large enterprises across industry verticals.
Regions – North America, Europe, APAC, MEA and Latin America.
Leading Vendors in the Application Security Market
Micro Focus – Provides application security testing tools and software integrity analysis solutions. Flagship offerings include Fortify and Interset.
F5 Networks – F5’s web application firewall protects against OWASP top 10 threats. Also provides API protection and bot mitigation capabilities.
Akamai – Leading provider of web application protections and DDoS mitigation solutions, along with an application security SaaS platform.
Imperva – Imperva’s WAF and RASP products are complemented by bot management and API security capabilities.
Veracode – Offers SaaS solutions encompassing static/dynamic analysis, software composition analysis, mobile app security and more.
Regional Insights
North America leads the application security market presently, followed by Europe. High technology adoption amongst enterprises in these regions is a key driver. The Asia Pacific region will exhibit the highest growth rate given rising IT expenditures and security awareness.
Industry Latest News
Snyk acquired FossID in February 2022, enhancing its software composition analysis capabilities.
Rapid7 acquired IntSights for $335M in July 2021 to strengthen its application security portfolio.
Micro Focus launched Vertica 10 in August 2020, delivering data analytics for cybersecurity use cases.
Akamai released Malware Protection for open API frameworks like Spring and Django in Sept 2021.
In summary, the growing proliferation of business-critical applications in the enterprise along with rising data breaches targeting them is spurring the application security market. Integrating application security across the software development lifecycle and adopting emerging approaches like DevSecOps will be key focus areas.
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