Application Security Software Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Solution (Web apps, Mobile apps), By Service (Professional, Managed), By Testing (Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing), By Deployment (On-cloud, On-Premise), By Organization (Large Enterprises, Small and Medium Enterprises), By End-user (Government and Defense, Banking, Financial Services and Insurance, IT and Telecom, Healthcare, Retail, Education, Other Verticals) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Application Security Software Market was valued at USD 3,256.8 Million in 2022 and is anticipated to reach a value of USD 10,356.4 Million by 2030 expanding at a CAGR of 15.6% between 2023 and 2030.

The goal of the quickly expanding application security business is to safeguard software and computer applications from security risks. Application security is becoming a vital concern for companies of all kinds due to the surge in cyberattacks and data breaches brought about by the growing use of digital technologies and the internet. Web application security, mobile application security, and cloud application security are just a few of the services and solutions offered by the application security sector. The goal of these services and solutions is to find and fix security flaws in applications so that they are safe from harmful attacks. Over the course of the forecast period, the application security market is anticipated to rise at a significant rate. The escalating quantity of cyberattacks, the expanding use of cloud computing, and the growing need for mobile applications are the reasons behind this increase. The primary companies in the industry are concentrating on growing their geographic reach and range of products. To improve their standing in the market, they are also concentrating on joint ventures and collaborations.

Application Security Software Market Major Driving Forces

Increase in Cyber-Attacks: The market for application security is mostly driven by the rise in cyberattacks. Cyberattacks are aiming for a larger range of applications and are getting more complex. In order to safeguard their apps from attack, this is compelling companies to invest in application security solutions.

Cloud-Computing: The market for application security is also being driven by the increasing use of cloud computing. Through cloud computing, businesses may access data and apps from any location in the globe. Attackers will find it simpler to target cloud-based apps as a result. For this reason, businesses are spending money on application security solutions to safeguard their cloud-based apps.

Growing Usage of Smartphones: The market for application security is also being driven by the growing need for mobile applications. Numerous individuals are using mobile applications, which are growing in popularity. Due to this, attackers may target them. To safeguard their mobile applications, businesses are consequently spending money on application security solutions.

Rising Awareness of Importance of Application Security: The growing recognition of the significance of application security is another factor propelling the marketplace for application security. Businesses are starting to understand how important application security is to safeguarding both their goodwill and information. They are investing in application security solutions as a result of this.

Application Security Software Market Key Opportunities

Expanding Market: The increased demand for safety precautions and the increase in online criminal activity are driving the application security market's expansion. Vendors now have the chance to create and market cutting-edge products and services.

Cloud-Based Solutions: As cloud-based apps become more popular, manufacturers have a chance to provide cloud-based application security solutions that are simple to include into these apps.

DevSecOps: By integrating security from the outset, the DevSecOps strategy allows suppliers to offer services and solutions that can be incorporated into the development process.

Application Security Software Market Key Trends

·         The significance of application security has increased due to growing cyberthreats and sophisticated attacks.

·         The practice of integrating security into DevOps, or DevSecOps, is becoming more and more popular.

·         Cloud-based application security solutions are becoming more and more in demand as a result of the shift to cloud computing.

·         API security is becoming more and more important as APIs (Application Programming Interfaces) are used more and more.

·         strict compliance standards and rules for data protection.

·         More effective threat detection and response are made possible by the integration of artificial intelligence and machine learning into application security systems.

Region-wise Market Insights

North America accounted for the largest market share at 37.4% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 16.7% between 2023 and 2030.

Due to the rapid pace of acceptance of digital technologies and the abundance of application security providers in the region, this is the largest market for application security solutions and services. With the largest market share in this region, the United States is the dominant nation. The increased usage of digital technologies and growing awareness of the need of application security measures are expected to drive a significant growth in the European market for application security solutions and services. The top three nations in this area are the UK, Germany, and France. The Latin American market for application security solutions and services is expected to grow at a high rate due to the region's growing demand for security measures and rising usage of digital technologies. Brazil and Mexico are the two most powerful countries in this region. The market for application security solutions and services is expected to increase significantly due to the Middle East and Africa's growing demand for security measures as well as the region's growing use of digital technologies. Saudi Arabia, the United Arab Emirates, and South Africa are the top three countries in this region. In the Asia-Pacific region, the market for application security software is experiencing robust growth due to increasing digitization and a surge in cyber threats. Countries such asIndia, China, and Japan are witnessing a growing adoption of advanced security solutions to safeguard critical applications. Government initiatives to enhance cybersecurity and regulatory compliance are further driving the market.

Market Competition Landscape

The competitive environment of the application security software market is defined by the existence of both domestic and international rivals. The application security software sector has consolidated as a result of mergers and acquisitions, wherein larger companies have acquired smaller firms in order to strengthen their market position and expand their capabilities. Due to this trend, notable companies with a wide range of products and services and a global presence have emerged. Innovative technologies are being quickly adopted by businesses in the application security software market in order to improve project efficiency and safety.

Businesses having a wide geographic reach are better able to access a variety of markets and possibilities. They can increase their market share and diversify their project portfolio by utilizing their regional or worldwide footprints. Since local and regional pipeline contractors are familiar with local laws, cultural quirks, and project-specific needs, they have an edge over competitors in their particular marketplaces. Prominent players in the market include:

·         IBM Corporation

·         Veracode (A Broadcom Company)

·         Checkmarx

·         Synopsys, Inc.

·         Fortify (Micro Focus)

·         Rapid7

·         Qualys, Inc.

·         WhiteHat Security (acquired by NTT Ltd.)

·         AppCheck (acquired by Checkmarx)

·         HCL AppScan (HCL Technologies)

·         Acunetix

·         Contrast Security

·         Tenable, Inc.

·         SonarQube (SonarSource)

·         NeuraLegion  

Leading suppliers of security solutions include Synopsys, Inc., IBM Corporation, Veracode, and Checkmarx. To assist businesses in locating and addressing application vulnerabilities, IBM provides application security tools. Checkmarx concentrates on static and interactive testing solutions, whereas Veracode specializes in cloud-based services for static, dynamic, and software composition analysis. In order to guarantee application security throughout the development process, Synopsys, Inc. offers an extensive toolkit that is incorporated into the software development lifecycle.