from 2020 to 2025. The application security market is driven by various factors, such as Increased in the security breaches targeting business applications, increase in the usage of mobile and cloud technologies and favorable government regulations to boost the growth of application security market across the globe during the forecast period.
New York, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Application Security Market by Component, Type, Organization Size, Deployment Mode, Vertical And Region - Global Forecast to 2025" - https://www.reportlinker.com/p03833617/?utm_source=GNW
However, rise in complexity of frauds can hinder the growth.
Services segment to grow at a higher CAGR during the forecast period
Application security services are the assistance offered by security vendors in conjunction to the application security solutions.These services are focused on helping organizations achieve their business goals together with their product offerings.
The application security services assist organizations in planning, implementing, integrating, and monitoring the application security environment through established best practices in the industry.
Application security services are broadly classified into two categories: professional services and managed services.The professional services include consulting services, training and education services, and support and maintenance services.
Application Security services give an upper hand to organizations’ security. These services help organizations make robust security decisions for proactively addressing emerging fraudulent attacks
On premise segment to account for a higher market share during the forecast period
The on-premises deployment mode is the traditional approach to implement application security solutions across enterprises. This is also associated with the term called ‘in-house software development.’ On-premises solutions provide organizations with a full control over all platforms, applications, systems, and data, which is handled and managed by their IT staff. Organizations, where user credentials are critical for business operations, usually have on-premises deployment as the information is considered to be moderately safe from external attacks since systems are held internal to the organization.
On-premises deployment also affects the cost structure of a development team as compared to cloud.The on-premises solution carries high cost as it includes cost of resources, infrastructure, integration, and maintenance.
This is one of the major factors, which is shifting the consumer interest from on-premises toward the cloud.
Asia Pacific to grow at the highest rate during the forecast period
The application security market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share (36.83%) of the application security market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major application security vendors in North America such as IBM, Cisco, Synopsis, Veracode, WhiteHat Security, Onapsis, GitLab, Contrast Security, and Qualys.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the application security market.
• By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By designation: C-level: 40%, Manager and Other: 60%
• By region: North America: 20%, Europe: 35%, APAC: 45%
Major vendors offering application security market across the globe are IBM(US), HCL (India), Cisco Security Systems (US), Synopsys(Canada), Checkmarx(Israel), Veracode(US), MicroFocus(UK), WhiteHat Security(US), Capegemini(France), Rapid7(US), Onapsis(US), GitLab(US), CAST (France), Contrast Security(US), Qualys (US), VMware(US), OneSpan(US), Trustwave(US), Imperva(US), F5 Networks (US), Acunetix (Malta), NowSecure(US), Pradeo(France), Lookout(US), Data Theorem(US), Zimperium(US), Kryptowire(US).
The study includes an in-depth competitive analysis of the key players in the application security market, with their company profiles, recent developments, and key market strategies.
The market study covers the application security market size across segments.It aims at estimating the market size and growth potential of this market across different segments: by type, by component, by deployment, by organization size, by vertical and by region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall application security market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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