The report "Global Application Security Market - Trends Analysis, Product Usability Profiles & Forecasts to 2024", published by 360iResearch, states that the global market was valued at USD 2,196.78 million in 2016 and is projected to reach USD 17,642.65 million by 2024, growing at a CAGR of 29.75% from 2016 to 2024.
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The major forces driving the growth of the application security market include the leading vector for cyberattacks and rapid-fire technology evolution. Moreover, enforcement of government and industry regulation is also one of the factors that is driving the market growth. However increasing number of vulnerabilities bought by application revolution, and lack of trust on third party vendor may hinder the market growth. In the middle of difficulty lies opportunity such as the emerging mobile and web applications, a tool to bring holistic approach towards security, and integrated cloud-based application security. The possible challenges for the market growth are inconsistent customer requirement and inherited vulnerabilities, and need for a rapid response. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global application security market is studied across aerospace & defense, automotive & transportation & logistics, banking, financial services & insurance, building, construction & real estate, consumer goods & retail, education, energy & utilities, government & public sector, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, and travel & hospitality. Based on geography, the global application security market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the application security market and provides inclusive analysis of key growth strategies adopted by major players. Key products profiled in the study are Acunetix Vulnerability Scanner, Burp Suite, Checkmarx CxSAST, Fiddler, Fortify on Demand, IBM AppScan, Lookout, Nessus Vulnerability Scanner, Pulse Virtual Traffic Manager, Qualys Web Application Scanning, Salesforce Platform, Synopsys Application Security Services, Trustwave Application Security, Veracode Application Security Platform, and WhiteHat Sentinel Dynamic.
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