Application Security Market size is poised to cross USD 31 Billion by the end of 2035, growing at a CAGR of 17% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of application security was around USD 8 Billion. The major factor set to influence the growth of the market is the growing adoption of cloud. In 2022, about 60% of organization all around the world were using one or two clouds in their organization. However, application security is very crucial for the cloud. Since cloud environments offer shared resources, it is particularly important to make sure that users can only access the information in their cloud-based applications that they are authorized to view.
Additionally, since sensitive data is sent from the user to the application across the internet and back again, cloud-based applications are also more prone to security breaches. A public cloud security incident was experienced by about 26% of firms in the past year, an increase of approximately 9% from the year before, and about 79% of businesses had at least one cloud security event in that time frame across the globe according to a survey.
Growth Drivers
Globally, there are about 3 billion digital buyers. This means approximately 30% of the population all around the world do online shopping. Further, online retail are also including various features and options in order to remain in the competition. However, along with advanced feathers comes the threat of cyber risk. Typically, fraudsters accomplish this by breaking into e-commerce websites and collecting login or credit card information from users. They may employ it to either pose as customers and make fraudulent purchases or to sell information about consumers to other criminals online. Hence, the need for application security is growing with the rise in number of online shoppers.
The risk of cyber security rises with the growing trend of merge and acquisitions of the company. Since integration and data exchange may expose assets to risks to their confidentiality, integrity, and availability (CIA), mergers and acquisitions constitute a considerable risk to organizations. Therefore, organizations should take application security into consideration before merging or acquiring an organization.
In 2021, globally, about 42% of small businesses were on target for security attacks. Moreover, given their modest online profile, small and medium-sized businesses (SMEs) don't believe they might become the target of an attack, as all the media attention is given to huge enterprise data breaches as those at Yahoo and TalkTalk. Therefore, they become more vulnerable to security attacks. As a result, small businesses are influenced more to focus on application security.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~17% |
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Base Year Market Size (2022) |
~ USD 8 Billion |
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Forecast Year Market Size (2035) |
~ USD 31 Billion |
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Regional Scope |
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Type of Security Testing (DAST, SAST, IAST, RASP)
The SAST segment in the application security market is anticipated to register a share of 40 % by the end of 2035. This growth could be owing to the rising advantages of SAST. Since most SAST tools are automated, they can quickly and effectively investigate the whole source. This enables an in-depth study of the code and decreases the possibility of overlooking a vulnerability. Additionally, SAST can assist in lowering remediation costs by finding and repairing vulnerabilities early in the development phase.
End-User Vertical (Healthcare, BFSI, Education, Retail, Government)
The BFSI segment in the application security market is set to grow at a notable share of over 11% over the forecast period. The BFSI industry is one of major critical infrastructure sectors that experiences frequent cyber-attacks, and data breaches due to the magnitude of its customer base and the highly confidential financial data involved. Additionally, the market for application security is expected to grow as a result of the fact that financial institutions are four times extra vulnerable to cyberattacks than more industries.
Our in-depth analysis of the global market includes the following segments:
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Type of Security Testing |
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Organization Size |
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End-User Vertical |
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North American Market Forecast
The application security market in North America is poised to generate the largest revenue of more than USD 2 Billion by the end of 2035, backed by rising digital transformation along with the growing prevalence of financially motivated attacks. Additionally, it was frequently noticed that hackers were utilizing stolen credentials to access the company's web-based email along with additional web applications in North America. The usage of hacked credentials has risen in lockstep with the rise in business adoption of cloud-based technologies. Software and services for application security are essential in this region. Therefore, this factor is set to influence the growth of the market in this region.
European Market Analysis
The application security market in Europe is poised to have significant growth over the forecast period. This growth of the market in this region could be influenced by rising government initiatives in order to protect organizations from cyberattacks. Moreover, there has been a growing launch of applications in this region would also be an important factor. Also, companies in this region are investing heavily in cyber-security, hence giving scope for market expansion.
Author Credits: Abhishek Verma, Hetal Singh
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