DUBLIN, DUBLIN -- (SBWIRE) -- 03/11/2021 -- Application Security Industry Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The various factors that are contributing to the growth of the global application security market size include the rising security breaches that target business applications and the growing usage of smartphones and cloud-based technologies. Security breaches are a threat to end-users and enterprises at large. The basis of digital infrastructure is the communication between the data and the business-critical applications, that are shared across users, devices, and platforms. Due to the rising security breaches around the world, companies are deploying solutions for application security in order to protect web and mobile applications. Thus, this is one of the emerging application security market trends that is boosting the market growth.

As per the application security market report, various leading players such as Adobe, Equifax, MySpace, eBay, LinkedIn, Yahoo, and others have witnessed critical security breaches during the last few years. Moreover, the increasing stringency in the compliance and regulatory needs for improved security will further boost the market's growth. Furthermore, the strong demand for SaaS-based solutions for application security is further contributing to the market growth. The constraints in the budget of the businesses is one of the major factors that is likely to hinder the application security market growth during the forecast period.

Request for a FREE Sample Report on Application Security Market

Application Security Market's leading Manufacturers:

- BM Corporation
- HCL Technologies
- Cisco Systems
- Synopsys, Inc.
- Checkmarx Ltd
- Micro Focus
- VERACODE
- Whitehat Security, Inc.
- Capgemini SE
- Rapid7

Component Segment Drivers

Based on the offering, the software is expected to grow at a higher CAGR during the forecast period. This is mainly due to the growing deployment of advanced software solutions and tools to protect business applications and simplify the provision of services. In 2020, Micro Focus introduced Hybrid Cloud Management X, which was specifically designed to ease the delivery of multi-cloud services. The platform is a multi-tenant management cloud-native platform that runs on the public cloud or on-premises environments. Several software tools include run-time application self-protection, dynamic application security testing, static application security testing, interactive application security testing, and others.

To Know More About Application Security Market

Regional Drivers

Based on the region, North America region is projected to grow at a higher CAGR during the forecast period. The growing deployment of advanced technologies is one of the biggest factor that is surging the growth of the regional market. This region is one of the leading adopter of advanced technologies in several sectors such as BFSI, government, education, healthcare, retail & E-commerce, telecommunication, IT & telecom, and others. U.S. is an advanced economy which is further helping in the development of new technologies robustly. On the other hand, Asia-Pacific is expected to dominate the market during the forecast period. The strong presence of leading companies such as Qualys, IBM, and Checkmarx, among others, is a major factor that is surging the growth of the market.

Application Security Market Segmentation:

Segmentation by Type:

- Web Application Security
- Mobile Application Security

Segmentation by Component:

- Software
- Services

Segmentation by End User:

- BFSI
- Retail & E-commerce
- Government
- Healthcare
- Telecommunication
- Education
- IT & Telecom
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.