Application Security Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
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LONDON, GREATER LONDON, UK, November 17, 2023 /EINPresswire.com/ — The global application security market is projected to witness substantial expansion, surging from $9.41 billion in 2022 to $11.55 billion in 2023, at an impressive compound annual growth rate (CAGR) of 22.8%. Despite the disruptive impact of the ongoing Russia-Ukraine war on global economic recovery from the COVID-19 pandemic, the market is anticipated to reach $27.49 billion by 2027, driven by the escalating security breaches at the business application level, necessitating robust application security solutions.
Security Breaches at the Business Application Level Drive Market Growth
The increasing frequency of security breaches at the business application level stands as a significant driver for the growth of the application security market. Instances like the data leak announcement by Keepnetlabs, a UK-based security firm, exposing nearly 5 billion records in March 2020, highlight the pressing need for enhanced application security measures. With a focus on fortifying the security of web and mobile-based applications, application security solutions serve as crucial deterrents against potential breaches, thereby bolstering the market for application security.
Explore the global application security market with a detailed sample report:
Key Players and Market Trends
Prominent players in the application security market, including IBM Corporation, Synopsys, and Checkmarx, continue to contribute to the market’s growth trajectory through their robust offerings and technological innovations. The integration of artificial intelligence (AI) and machine learning (ML) has emerged as a notable trend within the market, facilitating advanced threat detection and response capabilities. Notably, Fortinet, a California-based security solutions company, has leveraged AI and ML in their product, FortiWeb, a web application firewall, to bolster threat detection capabilities and enhance overall cybersecurity measures.
Segments:
• By Solution: Web Application Security, Mobile Application Security
• By Testing Type: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing
• By End-User: BFSI, IT And Telecommunication, Government And Defense, Healthcare, Retail, Education, Other End Users
Geographical Insights: North America Leads the Market
North America emerged as the largest region in the application security market in 2022, with a comprehensive report offering detailed insights into regional dynamics, market trends, and potential growth opportunities.
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Application Security Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Application Security Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on application security market size, application security market drivers and trends, application security market major players, competitors’ revenues, market positioning, and application security market growth across geographies. The application security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Application Security Market Poised for Growth, Expected to Reach $27.49 Billion by 2027
