Pune, India -- (SBWIRE) -- 01/29/2018 -- The Global Application Security Market accounted for USD 1.93 billion in 2016 growing at a CAGR of 28.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Application Security Market

Application software is the composition of hardware, software and other procedural method to protect an application from external threats. The task of application software is to lower down the risk involved in security in the operations of various applications. Growing usage of mobile, monetary related application and other advanced technologies have also demanded for the growth in application security solutions. It has its wide application in government & defense, banking, financial services, & insurance, IT & telecom, healthcare, retail, education, and others. Rise in cyber breaches may act as a major driver in the growth of application security market. On the other hand lack of awareness about cybersecurity may hinder the market.

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Major Market Drivers & Restraints:

Outsourcing of IT security model
Rise in cyber breaches
Stringent by-laws and compliance requirement
Budget constraints for implementing Application security
Stringent by-laws and compliance requirement
Lack of Awareness About Cybersecurity

Market Segmentation: Application Security Market

The global application security market is segmented on the basis of component into solution, and services. The solutions segment is further segmented into web application security, and mobile application security. The services segment is further segmented into professional services, and managed services. The professional services segment is further segmented into consulting, training and education, and support services.

On the basis of testing segment, the global application security market is segmented into static application security testing, dynamic application security testing, and interactive application security testing.

On the basis of organization size, the global application security market is segmented into large enterprises, and small & medium-sized enterprises (SMEs).

On the basis of deployment model, the global application security market is segmented into on-premises, and cloud.

On the basis of vertical, the global application security market is segmented into government and defense, banking, financial services, and insurance, IT and telecom, healthcare, retail, education, and others.
On the basis of geography, the global application security market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

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Company Share Analysis: Global Application Security Market

The report for global application security market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Application Security Market

Some of the major players of the global application security market are WhiteHat Security, VERACODE, Trustwave Holdings, Inc, Synopsys, Inc. SiteLock, Rapid7, Qualys, Inc., Pradeo, IBM Corporation, High-Tech Bridge SA, Hewlett Packard Enterprise Development LP, Fasoo, Contrast Security, Checkmarx, Acunetix and others.

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