From GlobeNewswire: 2024-06-10 10:07:00

The Global Application Security Market is projected to reach USD 9.6 billion by 2024 and grow to USD 47.3 billion by 2033, with a CAGR of 19.4%. Practices include code review, penetration testing, and regular updates to protect software applications from threats and vulnerabilities throughout their lifecycle. Companies prioritize application security to safeguard customer data and build trust.

In 2024, the solution component is expected to dominate the market due to the increasing demand for mobile and web application security. Static application security testing is anticipated to hold the largest revenue share, as it identifies vulnerabilities early in the software development life cycle. Moreover, on-premise deployment is preferred by organizations for data control.

Large enterprises are poised to maintain market dominance in 2024, given their engagement in critical business tasks that make various applications vulnerable to security threats. The Banking, Finance Services, and Insurance (BFSI) sector is expected to capture the largest revenue share due to its susceptibility to application attacks. North America is anticipated to lead the application security market with a revenue share of 41.7%, driven by cloud-based security networking.

The adoption of DevSecOps practices globally is a notable trend in the application security market. Integrating security into the DevOps workflow ensures proactive and collaborative approaches to application security. Key players like Veracode, Qualys, HCL Technologies, Synopsys, and others are driving innovation to address emerging threats within the sector. Application Security Market Scope:

The global Application Security Market is forecasted to reach USD 9.6 billion by 2024 and is projected to grow to USD 47.3 billion by 2033, with a CAGR of 19.4%. North America is expected to dominate the market in 2024 with a revenue share of 41.7%. The Banking, Finance Services, and Insurance (BFSI) sector are anticipated to hold the largest revenue share.

Recent developments in the field include acquisitions by GitLab Inc., launch of StackHawk tools on Microsoft Azure Marketplace, and introduction of Falcon by Require Security Inc. Companies like Snyk and Checkmarx are expanding their offerings through partnerships and new technology programs. New Relic Inc. launched Interactive Application Security Testing (IAST) to enhance security findings and detection accuracy.



Read more at GlobeNewswire: Application Security Market Expected To Expand USD 47.3