New York, March 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Application Security Global Market Report 2022” – https://www.reportlinker.com/p06246505/?utm_source=GNW
The global application security market is expected to grow from $7.67 billion in 2021 to $9.39 billion in 2022 at a compound annual growth rate (CAGR) of 22.4%. The change in growth trend is mainly due to the companies stabilizing their production after meeting the demand which increased exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $21.90 billion in 2026 with a CAGR of 22.2%.
The application security market consists of the sale of application security products and related services. Application security is a method of making applications more secure by fixing, finding, and improving application security.
It also includes tools and methods to protect applications once application security is deployed. Only goods and services exchanged between entities or sold to final consumers are included.
The main types of application security solution are web application security, mobile application security; by testing type in static application security testing, dynamic application security testing, and interactive application security testing. Web application security is a process of protecting websites and online services against various security threats that exploit vulnerabilities in an application’s code.
The different types of testing include Static Application Security Testing, Dynamic Application Security Testing, and Interactive Application Security Testing which are used by BFSI, IT & Telecom, Government & Defense, Healthcare , retail, education and other end users.
North America was the largest region in the Application Security Market in 2021. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, South America North, South America, the Middle East and Africa.
The increase in security vulnerabilities at the business application level has contributed to the growth of the application security market. For example, in March 2020, Keepnetlabs, a UK-based security company, announced a data breach that exposed nearly 5 billion records.
Additionally, in December 2019, Microsoft disclosed a data breach that exposed 250 million entries attributed to the misconfiguration of an internal customer support database. Application Security enhances web and mobile application security that can mitigate some of the breaches through the app. .
Thus, the increase in security vulnerabilities at the business application level has boosted the application security market.
Lack of application security expertise is expected to limit the application security market growth over the next few years. According to Burning Glass International Inc., an analytics software company, demand for application development security and cloud security is a rapidly growing skill area that is expected to grow by 164% and 115%, respectively, between 2020 and 2020. 2025. According to ESG and Information Systems Security Association (ISSA) analysis released in August 2020, 70% of cybersecurity professionals say their organization faces cybersecurity skills shortage issues. Over the past four years, the percentage has varied from a low of 69% to a high of 74%. Hence, the lack of application security expertise is expected to limit the growth of the application security market.
Artificial intelligence (AI) and machine learning (ML) are increasingly used to prevent attacks on the web or mobile applications. AI can be used to automate threat detection and respond more effectively than a traditional software approach.
AI-based cybersecurity will continuously and independently train itself to collect data in enterprise information systems through this data it analyzes and performs pattern correlation on billions of signals relevant to the cyberattacks and solve the problem. For example, Fortinet, a California-based security solutions company provides solutions ranging from network and web application security to threat protection for IT infrastructure.
Fortinet’s AI-based product, FortiWeb, is a web application firewall that uses machine learning and two layers of statistical probability to detect attacks and threats.
In April 2020, Hellman & Friedman (H&F), an American provider of software security solutions for DevOps, acquired Checkmarx, a software security solutions company from Insight Partners for $1.15 billion. The acquisition is expected to spur company growth and cybersecurity threats continue to escalate, so integrating security early in the software development lifecycle is critical. Checkmarx is an Israel-based software security solution for the development of modern enterprise software and is engaged in the development of static and interactive application security testing training, software composition analysis and application security .
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and United States.
Read the full report: https://www.reportlinker.com/p06246505/?utm_source=GNW
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