The code security market is predicted to grow at a constant rate during the forecast period.
Code security, also known as secure coding or application security, refers to the practice of designing, writing, and maintaining software code in a way that protects it from security vulnerabilities and potential exploits. The code security market growth is driven by the evolving threat landscape, regulatory requirements, and the need to protect applications and data in an increasingly complex digital world.
Growing Cloud Computing Needs Drives Code Security Market Growth
Cloud service providers host their IT infrastructure in data centers to provide cloud computing services to the end users. Thus, as organizations increasingly rely on cloud-native technologies to build and manage their applications and infrastructure, growing cloud computing needs induce significant growth in the demand for code security as it embeds security across each stage of cloud development and also provides feedback regarding misconfiguration and vulnerabilities to the developer.
Increasing Third-Party applications drive the code security market expansion.
The increasing use of third-party applications has driven the expansion of the code security industry. One major factor behind the growth of third-party app stores is the rising cost of certified apps. This has brought about significant concerns, such as security vulnerabilities and data breaches. Apple's website reveals that 40 % of the 100,000 apps reviewed per week they review are rejected due to various issues, including minor bugs and privacy concerns. Additionally, there have been instances of security breaches in third-party app stores like Aptoide, which exposed data from millions of subscribers.
Lack of awareness drives the code security market growth.
The lack of awareness and control over app permissions among users is a significant driver for the growth of the code security market. In a survey by Kaspersky of over 18,500 users globally, it was found that 43% of users do not appear to consider limiting permissions when installing apps. Another study examining the top 100 apps installed on Android devices discovered that 83% of these apps had access to sensitive data. Alarmingly, 96% of these apps could remain active without the user actively launching them, which Kaspersky suggested could tempt cybercriminals seeking to exploit user data.
Asia-Pacific is expected to dominate the market.
Asia-Pacific is poised to take the lead in the code security market. This dominance is attributed to the region's rising digital infrastructure, growing investment, and initiatives in data security coupled with advancements in the service sector. For instance, in November 2022, the Indian government launched the “Digital Personal Data Protection Bill 2022” which aimed to prevent unauthorized access to enterprise and users' data thereby safeguarding them from getting leaked in the public domain.
Increasing sophisticated attacks may bolster Code security market growth.
As security systems become more advanced, cyber threats are also evolving to become increasingly targeted and sophisticated. This trend is underscored by the FBI's concern over the surging rates of cybercrimes, particularly those directed at small businesses. According to the CNBA/Survey Monkey Small Business Survey, In 2021, small businesses incurred substantial losses, totalling a staggering $6.9 billion due to cyberattacks. This marked a significant 64 percent surge in losses compared to the previous year, highlighting the urgency for businesses of all sizes to fortify their cybersecurity measures. The need for robust code security solutions remains critical in countering these evolving and more potent threats.
Key Developments
Company Products
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR during the forecast period |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, Practices, Enterprise Size, End-User, and Geography |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered | Palo Alto Networks, WeSecureApp, Veracode, Synopsys, Inc., Snyk Limited |
| Customization Scope | Free report customization with purchase |
Segmentation