Global Application Security Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Application Security Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global application security market report has been segmented on the basis of component, solution, deployment, end-use industry, and region.

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Global Application Security Market: Overview

Application security is a process of monitoring, identifying, correcting, and securing applications from threats or precluding malicious attacks. Application security means utilization of set of hardware, software and other components in order to protect application from hacks, external threats, or attacks. Application security helps to bridge the loopholes within system of enterprise applications.

Global Application Security Market: Dynamics

High adoption of smartphones is resulting in there is high permeation of applications that are compatible with those smartphones. Increasing need to protect these applications for smooth functioning on the process is a major factor expected to drive growth of the global application security market.  In addition, features of application security such as ability to reduce the risks related to operations and data theft are some of the other factors expected to drive growth of the global application security market.

Moreover, rising issues related with security of mobile-based and web-based applications have resulted into increased demand for application security, and are projected to drive growth of the global application security market. Furthermore, increasing trend of digitalization, coupled with increasing risks of theft of confidential data related to financial transactions such as Internet banking login details, account details etc. of the consumers are expected to fuel growth of the global application security market to a significant extent.

Application security has become intrinsic in banking sector to protect vital credentials of bank’s information, as well as rising concerns about security breaks and ransoms are factor expected to drive growth of the global application security market.

However, rising competition among various IT enterprisers are major factor expected to hinder growth of the global application security market. Integration of application security in the applications already developed is also one of the major challenges due to which the adoption of the products is low, thereby hampering revenue growth of the market to a certain extent.

Global Application Security Market: Segment Analysis

Among the solution segments, the mobile application security segment is expected to dominate in the global application security market with highest share in terms of revenue. Increasing usage of smartphones and implementation of applications that are compatible with these smartphones has resulted into increased demand for application security, and is among the major factors expected to drive adoption of mobile application security and revenue growth of the global application security market.

Among the end-use industry segments, the banking and insurance services segment is expected to dominate in the global application security market with major revenue share. Rising need to secure confidential data that are stored by banks is expected to drive growth of this segment in global application security market.

Global Application Security Market: Region Analysis

North America market is estimated to account for highest revenue share in the global application security market. Increasing financial crimes and card frauds has resulted into increasing need for application security, and is among the major factors expected to drive growth the global application security in North America. In addition, presence of various financial institutions, high adoption of Internet of things-based devices and increasing number of Internet users are other factors expected to drive growth of the global application security market in North America.

Global Application Security Market Segmentation:

Segmentation by Component:

Services
Managed Services
Professional Services
Solutions

Segmentation by Solution:

Mobile Application Security
Web Application Security

Segmentation by Deployment:

On-premise
Cloud Based

Segmentation by End-use Industry:

Education
Banking and Insurance Services
Retail
Government
Energy
Hospitality
Media and Entertainment