According to the research report titled ‘GLOBAL APPLICATION SECURITY MARKET 2021-2028’, available with MarketStudyReport, global application security market is on track to record a CAGR of 15.1% over the analysis period 2021-2028.

As per the report findings, surging incidents of cyber breaches, outsourcing of IT operations, and imposition of stringent by-laws are mainly impelling the growth of global application security market. Moreover, the government policies favoring security needs are likely to instill new opportunities in the industry over the upcoming years.

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Despite the positive outlook, shortage of skilled professionals in application security, coupled with budget constraints faced while deploying the technology are expected to weigh down the market's remuneration scope over the upcoming years.

On the basis of solution type, the industry is bifurcated into web application security, and mobile application security, while by service type the market classification comprises professional and managed.

Moving on to deployment, cloud based, and on-premises are the two main methods used in the industry. Considering testing type, the business vertical is split into SAST (static application security testing), IAST (interactive application security testing), DAST (dynamic application security testing), RASP (Run-time application security protection), and others.

Lastly, by end user ambit, worldwide application security industry is divided into BFSI, government & defense, IT & telecom, healthcare, retail, manufacturing and others.

From a geographical viewpoint, Asia-Pacific industry is slated to deliver a healthy growth rate over 2021-2028, with China registering a massive growth in the number of connected devices. This is driving the demand for security solutions in the country. Moreover, increasing regulations to tighten security protocols is also opening avenues for companies to offer new security solutions to consumers, thereby stimulating regional market growth.

Prominent players in global application security market are NTT Security AppSec Solutions Inc. (WhiteHat), Veracode, Trustwave Holdings Inc., Synopsys Inc., SiteLock LLC, Rapid7 LLC, Qualys Inc., Pradeo Security Systems SAS, NSFOCUS Inc., IBM Corp., Hewlett Packard Enterprise Development LP, Contrast Security Inc., Checkmarx Ltd., and Acunetix (Invicti Security Corp.)