Application Security Market Set for Rapid Growth by 2024

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Global Application Security Market: Overview

Application security is used to protect critical software, hardware, or essential protocols from external threats. The application security helps to identify, fix, and also prevent the future threats to the critical data.

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Global Application Security Market: Growth Factors

The stringent government regulations regarding the business data or application security are expected to drive the global application security market towards growth. The rising demand for security of the highly significant business or organization data or programs across the various organizations throughout globe fuels the global market. The compliance in the regulation and the strict security regulations is assumed to drive the growth of the global market. On one hand, due to the rapid increasing of the digital technology and internet usage, the communication between various organizations results in the sharing of critical applications or data through the emails or faxes which in turn has increased the threat of breaching of these information’s and on the other hand the demand for application security solutions has escalated. Due to the increased hacking of these critical data, the development of these application securities is of utmost importance. The use of the application security solutions in the various sectors such as retail, IT and Telecom, healthcare, and others is expected to propel the global market growth.

Global Application Security Market: Segmentation

The global application security market is segmented based on testing type, component, organization size, deployment mode, vertical, and region. The testing type segment is bifurcated into Dynamic Application Security Testing, Static Application Security Testing, and Interactive Application Security Testing. The component segment is divided into services and solutions. The solution subsegment is further categorized into mobile application security and web application security. The services subsegment is classified into managed services and professional services. The deployment mode segment is bifurcated into cloud and on-premises. The organization size segment is grouped into large enterprises and small and medium enterprises. The vertical segment is categorized into healthcare; IT and Telecom; banking, financial services, and insurances; retail; education; government and defense; and others. The regional segmentation includes Europe, Asia-Pacific, Latin America, the Middle East and Africa, and North America.

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Global Application Security Market: Regional Analysis

The existence of a large number of application security vendors in North America is expected to be the reason for it to become the largest shareholder in the global application security market. The ‘Bring your Own Device’ concept in the various organizations results in the increasing rate of application security product installation in order to protect the business applications or data against the potential threat from the malware programmers.

Global Application Security Market: Competitive Players

The major players in the global application security market include WhiteHat Security, IBM Corporation, Rapid7, Veracode, Qualys, Hewlett-Packard Enterprise, Checkmarx, Trustwave, Acunetix, and Digital. The other major players in the global market include HP, CSC, Ernst & Young, Accenture, and Deloitte.

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