Rising security breaches at business application level is expected to be a key factor driving demand.
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The global Application Security Market size was estimated at USD 2.05 billion in 2015.
Currently, software application has become an integral part of any business environment irrespective of the prime business operation of the company. The security of these software applications have been a big concern to the different organization as they are frequently accessible to the network and consequently susceptible to a wide range of security threat.
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The mobile and cloud-based computing technology have drastically changed business scenario. Currently, most of the company use the software application to carry out their business process, for example, the company’s such as Amazon highly depend on online websites and mobile application to sell the wide range of products to the consumers.
The rapid development in web and mobile based applications has created more complex, distributed IT infrastructures which are difficult to secure. Previously, organizations have majorly taken measure to protect their IT infrastructure by securing the network layer.
However, currently many companies are facing cyber-attacks issues owing of the flaw in the design of the software application which cannot be secured by using tradition network security measure.
Rising need for measures during each phase of the software development lifecycle (SDLC) to protect the software and associated critical data is expected to impact market growth. The vital role of Application security determining, fixing and preventing security vulnerabilities found in the software application during its development life cycle is anticipate to boost the industry demand.
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In addition to the stringent laws and compliance regarding cyber security in different countries mounting demand for IT groups to take security measures within different industries such as BFSI, healthcare, retailers, and others. These evolving security regulation are anticipating to drive market growth.
The global demand for mobile application security is expected to grow at the highest CAGR of 25.9% from 2016 to 2025. The rapidly growing internet usage service and rising adoption of BYOD policies within the enterprise have boosted the usage of personal devices such as smartphones, tablets and smart wearable to access organization information.
This has resulted in increasing number of non-IT controlled application along with the corporate network. It has all lead to increase in threat related to data breaches regarding the mobile application, which in turn response to high demand among user and enterprise to protect their critical information exposed to the public and private network.
The web application security is expected to hold the major share of the market in 2025. The web application is one of the weakest points of the corporate cyber security.
As per Verizon’s Data Breach Investigations report, 35 percent of data breaches is caused by the web application vulnerabilities. The rising security breaches in web application is expected to boost the demand for the security solution.
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Most of the organizations are outsourcing their security model due to the lack of experience and skill sets of in-house security professional relating to software security testing, thereby propelling the growth of security services over the forecast period. The increasing demand for securing data application on virtualized and multi-tenant environment is creating high demand for cloud-based security services which is further expected to drive the professional security services market in near future.
The managed security services are anticipated to grow at a CAGR of 18.2% from 2016 to 2025 owing to the rise in security threat and growing adoption of managed security services among the SME (Small and Medium enterprises). The budgetary constraints and cost pressure are pushing SMEs to opt for bundles of broader service portfolios offered by the service provider which include Application security solution along with other managed services.
Application Testing Type Insights
The Interactive Application Security Testing (IAST) market was valued at USD 350 million in 2015 and is expected to grow at a considerate CAGR of over 19% during the forecast period. IAST can be used in combination with other testing technologies with a comprehensive testing approach in which SAST and DAST security testing approaches are merged, which is used to test application in a runtime environment by monitoring the dynamic response of the software application by identifying security flaws.
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