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Application security market worth USD 9.0 billion 2022

IT Market Research

The Application Security Market is expected to register a promising CAGR of 26.4% during the period 2017 -2022.

The application security market is expected to grow from USD 2.79 Billion in 2017 to USD 9.0 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.4%. The major growth drivers of the application security market include concerns about the increased sophistication level of threats and the Advanced Persistent Threats (APTs) causing security breaches, strict regulatory compliances, and increased deployment of third-party applications.

Among the solutions, web application security is expected to hold a larger market share than mobile application security due to its larger usage in enterprises for business-critical operations. Mobile application security is expected to grow at a faster rate than web application security due to the growing numbers of smartphone users, increasing BYOD trend, and enterprise mobility needs.