Global Application Security Market Size to Exceed 38.58 Billion by 2033: Market Study Report

Global Application Security Market Size to Exceed 38.58 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, The Global Application Security Market Size is Expected to Grow from USD 7.31 Billion in 2023 to USD 38.58 Billion by 2033, at a CAGR of 18.10% during the forecast period 2023-2033.         

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Application Security Market Size, Share, and COVID-19 Impact Analysis, By Type (Mobile Application Security and Web Application Security), By Component (Solution, services), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033           

The application security market is the business that specializes in solutions, tools, and services aimed at securing applications from security threats, vulnerabilities, and cyberattacks during their development and operational lifecycle. These solutions identify, mitigate, and prevent threats like malware, data breaches, code vulnerabilities, and unauthorized access. Moreover, the application Security Market is propelled by increasing cyber-attacks, cloud-based and mobile app adoption, and strict regulatory compliance (GDPR, PCI DSS). Expanding digital transformation, DevSecOps adoption, and the need for AI-based security solutions further accelerate market growth. The move towards remote work and the requirement for real-time threat detection also drive adoption. However, the application security market is held back by factors such as high costs of implementation, intricate integration with legacy systems, lack of trained cybersecurity personnel, security test false positives, and the constantly changing nature of advanced cyber threats.

The web application security segment accounted for the largest share of the global application security market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

On the basis of type, the global application security market is divided into mobile application security and web application security. Among these, the web application security segment accounted for the largest share of the global application security market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growing use of cloud applications, growing cyber-attacks against web platforms, and strong data privacy regulations fuel demand. Companies invest in web security products such as WAF, DAST, and SAST to protect vulnerable data and maintain compliance.    

The security solution segment accounted for a substantial share of the global application security market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the component, the global application security market is divided into security solution and services. Among these, the security solution segment accounted for a substantial share of the global application security market in 2023 and is anticipated to grow at a rapid pace during the projected period.  Organizations focus on sophisticated security tools such as SAST, DAST, RASP, and WAF to secure applications against cyber-attacks. The growing use of automated security solutions for real-time threat detection and compliance fuels this segment's leadership over services.

North America is projected to hold the largest share of the global application security market over the projected period.

North America is projected to hold the largest share of the global application security market over the projected period. This is attributed to the heightened adoption of enhanced security solutions, strict regulations (GDPR, CCPA, PCI DSS), and emerging cyber threats. The presence of prominent cybersecurity providers, rising cloud-based applications, and significant investment in digital transformation also propel regional market growth.

Europe is expected to grow at the fastest CAGR of the global application security market during the projected period. Stringent data privacy laws such as GDPR, heightening cyberattacks and heightening cloud and mobile application adoption fuel demand. Germany, the UK, and France are top countries for investment in cybersecurity, with rising digital transformation and compliance requirements fueling further market growth across multiple sectors.

Company Profiling

Major vendors in the global application security market are International Business Machines Corporation, Cisco Systems, Inc., F5, Inc., VMware, MicroFocus, Checkmarx, Synopsys, Inc., Veracode, Rapid7, HCL Technologies Ltd, GitLab, CAST Software, Onapsis, WhiteHat Security, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In November 2023, Require Security Inc., a security company that specializes in cybersecurity, introduced Falcon, a Runtime Application Security Protection application. For businesses that rely on open-source libraries, the solution provides maximum security, safeguarding them from any possible threats and vulnerabilities.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global application security market based on the below-mentioned segments:

Global Application Security Market, By Type

• Mobile Application Security
• Web Application Security

Global Application Security Market, By Component

• Solution
• Services

Global Application Security Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa