Application Security Market can be segmented on basis of component solutions, services, deployment methods, and applications. The use of smartphones and tablets has been increasing rapidly, which has resulted in an increase in the data breach; hence, mobile application security is of utmost importance to protect users’ critical information visible to public and private networks.
Many enterprises are facing cyber-attack issues owing to flaws in the development phase of the application security market. Hence, protecting the software and acute data at every stage of the system development life cycle is anticipated to spur the application security market growth. The government’s laws and stringent schemes, such as Cyber growth partnership in India, are also accountable for the industry growth. Major opportunities for the application security market are the increasing use of smartphones and high rate of adoption of IoT. Moreover, rapid digitization in emerging economies will aid the development of the application security market.
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On-premise and cloud-based are the two deployment techniques adopted in the application security market. On-premise security tools offer a high level of security and control as compared to cloud techniques. It provides businesses a control of the overall data managed by their IT staff, enhancing the safety. The use of these techniques varies depending upon their application areas.
Combating the increasing security breaches in major industries, such as BFSI, is driving the application security market. The use of software in almost all industry verticals and the protection of these software applications will result in a rise in the industry demand. The rising e-commerce industries carrying a huge customer data and various transactions taking place over the internet need to be protected as they are viable to theft and data leakage, which can cause huge losses to the enterprise. The protection of this data over the web and mobile applications augments the application security industry growth.
North America is anticipated to hold the largest share in the application security market over the forecast time span. This is due to the increasing adoption of smart and latest technologies and stringent government laws regarding the security of IT tools for business purposes. Moreover, the presence of many vendors located in this region augments the industry growth.
Asia Pacific application security market will witness major industry growth owing to the increasing population and the rise in the number of smartphone users. Also, the increase in the use of Internet provides various opportunities for hackers. Hence, many companies in this region are investing in cyber security to protect their applications from various threats.
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