The global application security market is expected to reach USD 10.7 billion by 2025, according to a new report by Grand View Research, Inc. Increasing targeted attacks on the applications is anticipated to be a major factor that is expected to drive market growth. In addition, BYOD adoption in the organizations that are deploying application security services and solutions to protect against potential threats has contributed to the market demand.
DAST (Dynamic Application Security Testing) is expected to significantly contribute to the market revenue, with a market size of over USD 4 billion by 2025. It delivers various advantages that include comprehensive vulnerability coverage, false positive reduction, entire code coverage that comprises the frameworks and libraries, and zero process disruption.
Web application solution was the largest application security market in 2015 valued at USD 1.75 billion and is expected to observe declining growth over the forecast period. Mobile application solution market is expected to grow at a CAGR of 25.9% from 2016 to 2025.
Government agencies hold, access, and manage large amounts of sensitive data. The government and defense vertical, currently is susceptible to major cyber-attacks and security breaches. According to Veracode report, three out four application used by government agencies does not meet basic security compliances thereby by creating high opportunity for market vendors. The market for government and defense segment is expected to grow at a CAGR of 18.3% between 2016 to 2025. The market is also anticipated to witness a substantial growth in the BFSI vertical, IT and telecom and healthcare over the forecast period.
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Further key findings from the report suggest:
- The application security market accounted for USD 2.05 billion and is expected to grow at a CAGR of 17.7% from 2016 to 2025
- Web application security emerged as the largest segment in 2015 and is expected to leverage machine learning to catalyze growth opportunities
- The application security market size in large enterprises was value USD 1.25 billion in 2015 and is anticipated to witness substantial growth over the next nine years
- The U.S. managed services market was valued as USD 478.5 million in 2015 and is expected to gain traction owing to strong compliance requirements
- The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments, especially in the mobile application security market. The regional market is expected to grow at a CAGR of 24.9% from 2016 to 2025
- Key players including IBM, Hewlett Packard Enterprise, Qualys Inc., Veracode and WhiteHat Security dominated the market while accounting 50% share of the total market in 2015