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Application Security Market to Reach $9 Billion by 2022 - Analysis By Component, Testing Type, Deployment Mode, Organization Size & Industry Vertical - Research and Markets

[May 25, 2017]

Application Security Market to Reach $9 Billion by 2022 - Analysis By Component, Testing Type, Deployment Mode, Organization Size & Industry Vertical - Research and Markets

Research and Markets has announced the addition of the "Application Security Market - Global Forecast to 2022" report to their offering.

The global application security market will 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%.

As attackers have shifted their focus from traditional network layer attacks to application layer attacks, the demand for application security solutions is expected to increase to cater to the growing challenges posed by these threats. Furthermore, the evolution of the Internet of Things (IoT) and increasing digitalization of industrial sectors in emerging economies, such as Asia Pacific (APAC) and Middle East and Africa (MEA), are expected to provide huge growth opportunities to application security solution vendors in the next 5 years. Lack of cybersecurity awareness and budget constraints are the restraining factors for the market.

Mobile application security is expected to have a higher growth rate than web appliction security during the forecast period. Increasing number of smartphone users, the adoption of the Bring Your Own Device (BYOD) trend, and growing enterprise mobility needs are driving the growth of the mobile application security market. However, web application security is expected to have a larger market size than mobile application security during the forecast period, due to its increasing usage in business operations.

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