Application Security Market is projected to witness high growth on account of factors such as stringent regulations, increasing security breaches targeting business applications, and rapid deployment of the web- and mobile-based applications are driving the demand for application security solutions. Growing adoption of internet services for working and accessing information by individuals as well as big enterprises is increasing the threat of data loss and unauthorized access, thereby augmenting the demand for application security solutions worldwide. Rising implementation of BYOD (Bring Your Own Device) program in various enterprises and organizations increases the risk of security breach and thus, leads to the rise in demand for application security solutions. Furthermore, rising adoption of cloud-based internet services will further propel the market growth as users store their personal information on the cloud which increases the risk of hacking and data theft.
Application Security Market is projected to grow to US$7.544 billion by 2021, from US$3.151 billion in 2016 at a CAGR of 19.08%. Geographically, North America accounts for the largest share of global application security market owing to the presence of a large number of application security vendors in the region. APAC region, however, is anticipated to witness the fastest regional market growth due to rise in IoT (Internet of Things) coupled with emerging trend of BYOD program in various organizations.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of application security. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Application Security Market has been segmented by deployment model, solution, industry vertical and geography as below:
By Deployment Model
Data Backup and Recovery
IAM and Authentication
By Industry Vertical
Communication and Technology
Military and Defense
Europe Middle East and Africa
Middle East and Africa
Finally, this section of competitive intelligence deals with major players in the market, their market shares, products, growth strategies, financials, and recent investments among others. Key industry players of application security market are IBM, Qualys, Veracode, and Checkmarx among others.