The report "Global Application Security Market - Trends Analysis, Company 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 company profiled in the study are Acunetix, Ltd., PortSwigger, Ltd., Checkmarx, Inc., Progress Software Corporation, Micro Focus International PLC, International Business Machines Corporation (IBM), Lookout, Inc., Tenable, Inc., Pulse Secure LLC, Qualys, Inc., Salesforce.com, Inc., Synopsys, Inc., Trustwave Holdings, Inc. , Veracode, Inc., and WhiteHat Security, Inc..
360iResearch LLP, headquartered in Pune, India, is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as Aerospace & Defense, Healthcare & Life Sciences, and Information Technology.
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