Latest News:- Application Security Market: On-premises is expected to lead the Deployment segment during 2024-2028

Application Security Market to grow at a CAGR of 23.11% during 2024-2028

The Application Security Market is expected to grow at a CAGR of 23.11% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 20017.9 million. Shadow IT refers to unauthorized digital solutions adopted by enterprises for communication and collaboration, despite not receiving explicit approval from management. Tools such as Slack, Google Docs, and Evernote fall under this category. The proliferation of Internet of Things (IoT) devices connecting to corporate networks without adequate security policies is one factor fueling the increase in shadow IT usage. Another contributing factor is the widespread adoption of cloud-based services, which offer greater scalability and enable businesses to bypass lengthy IT procurement processes and access technology services instantly. 

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The On-premises subsegment is expected to dominate the Deployment segment during the forecast period 

Technavio analysts predict that the On-premises subsegment will lead the Deployment segment during 2024 and 2028 The Application Security market is experiencing significant growth due to the increasing importance of safeguarding digital assets against cyber threats. Businesses are investing heavily in advanced security solutions to mitigate risks and protect sensitive information. Key technologies driving market expansion include multi-factor authentication, encryption, and threat intelligence. As cyber attacks become more sophisticated, the need for robust application security is becoming essential for business continuity and reputation management.

Here are the various ways based on which the market is segmented: 

• Deployment
  • On-premises
  • Cloud
• End-user
  • Web application security
  • Mobile application security
• Geography
  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • South America

Reasons to Purchase the Global Application Security Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing number of data leaks

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Application Security market is a critical segment of the tech industry, with the increasing reliance on Internet access, online apps, IoT devices, and mobile devices for business operations. The security concerns surrounding data sharing in these digital environments have grown significantly, making it essential for businesses to prioritize the security of their business-critical programs and customer data. Third-party dependencies, such as APIs and software libraries, can introduce vulnerabilities, making patching apps a crucial aspect of application security. Security breaches can lead to significant financial and reputational damage, making AI-driven methods, like machine learning (ML) and artificial intelligence (AI), increasingly popular for identifying and mitigating threats. Bionic Signals, a leading application security company, provides advanced threat detection and response solutions for businesses of all sizes, including SMEs. Their solutions leverage big data analytics to identify and remediate application vulnerabilities, protecting sensitive data from hackers and cybersecurity threats. With the growing complexity of software development and the increasing sophistication of cybercriminals, it's more important than ever for businesses to prioritize application security.

Market Research Overview

The IT software market encompasses businesses specializing in the creation and distribution of application, system, and database management software. The application software sector specifically focuses on developing customized solutions for enterprise and consumer markets. This segment includes enterprise and technical software, as well as cloud-based applications. Notably, it excludes companies producing interactive home entertainment software and those specializing in systems or database management software. According to Technavio, the global IT software market size is determined by the consolidated revenue of all organizations involved in the provision of IT software solutions, including cloud services.

The Application Security Market is experiencing significant growth, fueled by the growing number of data leaks. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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