Market Research Report
Application Security - Global Market Outlook (2017-2023)
|Published by||Stratistics Market Research Consulting||Product code||550983|
|Published||Content info||175 Pages
Delivery time: 2-3 business days
|Application Security - Global Market Outlook (2017-2023)|
|Published: August 1, 2017||Content info: 175 Pages||
According to Stratistics MRC, the Global Application Security market is estimated at $2.35 billion in 2016 and is expected to reach $10.26 billion by 2023 growing at a CAGR of 23.4% from 2016 to 2023. Some of the factors fueling the market include rising sophistication level of cyber-attacks, strict government regulations and increasing smart phone acceptance. In addition, the development of the Internet of Things (IoT) and rising digitalization of industrial sectors in emerging economies, such as Asia Pacific (APAC) and Middle East & Africa (MEA) are anticipated to provide huge growth opportunities to vendors in the next 5 years. However, growing competition among the IT companies and lack of cyber security awareness are some of the key factors inhibiting market growth.
Amongst components, mobile application security solution segment is anticipated to have a higher growth rate during the forecast period. Owing to increasing number of smart phone users, the acceptance of the Bring Your Own Device (BYOD) trend and increasing enterprise mobility needs. Asia Pacific registered significant growth during the forecast period owing to the rising digitalization of businesses and acceptance of cloud services by all enterprises in the region. Moreover, the need to protect applications and the largest population of smart phone users are the factors driving the market in this region.
Some of the key players in the market include Whitehat Security, Veracode, Inc. (Ca, Inc.), Trustwave Holdings, Inc. (Singtel), Synopsys, Inc., Sitelock, LLC, Rapid7, Inc., Qualys, Inc., Pradeo, International Business Machines (IBM) Corporation, High-Tech Bridge, Hewlett Packard Enterprise (HPE) Company, Fasoo, Contrast Security, Checkmarx Ltd. and Acunetix.