APPLICATION SECURITY MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Application Security Market Analysis:

tware, IBM Corporation, and Hewlett Packard Enterprise, are investing heavily in the development of advanced application security solutions to meet the growing demand for secure applications.

According to market research, the Application Security Market is expected to experience significant growth in the coming years. The market size is projected to increase from USD 9.90 billion in 2023 to USD 22.08 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 17.39% during the forecast period (2023–2028). This growth can be attributed to the increasing need for application security due to the rising number of companies developing apps, purchasing applications, and incorporating open-source code into their applications. The vulnerabilities and risks associated with these applications have increased exponentially, making application security systems essential to reduce security risks involved in various operations of web and mobile applications.

Web applications are expected to remain the most frequent cause of confirmed breaches, with organizations primarily connecting to various business-critical applications. The risk of breaches on the internet has been continuously increasing. Despite the increasing frequency of data breaches and cybercrime, research indicates that more attention and investment are still needed in information security, specifically cybersecurity, in the workplace. Enterprises leave thousands of applications unused when they are used only within business-critical activities, such as payment-related activities or ordering goods and services.

The usage of machine learning and artificial intelligence in mobile and web-based security processes has bolstered the demand for the application security market. Application security encompasses mobile and web applications that go through several stages of the security development cycle, such as security coding and design. AI-specific fields, such as ML and expert systems, could enhance application security by generating, forecasting, or applying inferences to identify security vulnerabilities, anticipate security risks, and provide security code remediation recommendations. Security professionals are also using these technologies to automate attack risk identification and code review.

To meet the growing demand for secure applications, numerous firms, such as BR Software, IBM Corporation, and Hewlett Packard Enterprise, are investing heavily in the development of advanced application security solutions.

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