According to a recent analysis by Reports and Data, the global Application Security Market is anticipated to reach USD 19.97 billion by 2028. Workflow can be improved by using security technologies that are integrated into the application development environment. These tools are particularly helpful during compliance audits because they can prevent problems from occurring and so save time and money. Systems can detect code faults fast thanks to the development of continuous deployment and integration techniques that improve apps regularly.
The solution segment dominated the application security market in 2020 based on components, and it is anticipated that it will continue to do so in the years to come. The growth of this market is driven by the increase in demand for both web application security and mobile application security. For instance, the increased usage of personal devices such as smartphones, smart wearables, laptops, and tablets to access organizational information is a result of both the increased use of the internet and the implementation of BYOD policies across all enterprises. To prevent data breaches involving mobile applications, there is an increase in demand for application security solutions.
COVID 19 IMPACT:
There are roughly 19–20 million software developers worldwide, of which > 40% create mobile applications and > 60% create online applications. Mobile application development has expanded as a result of the growing trend of using smartphones and mobile devices for a variety of activities, including office work, online shopping, and access to social media. Due to the growing popularity of mobile apps, there is a greater need than ever to secure mobile applications while they are still in the development stage to prevent data breaches and loss, as well as to monitor the environment in which an application is running. The government has required the use of mobile applications, particularly while traveling, in response to the COVID-19 pandemic, which has heightened the need for improved security measures throughout the SDLC process.
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Further key findings from the report suggest:
Budgetary restrictions and investment returns discourage corporations from making investments:
Enterprises expose hundreds of applications to risk when applications are limited to business-critical tasks, such as ordering products and services or engaging in payment-related activities. Business-critical apps that are not in use are detrimental since they are frequently out of date. Many SMEs think that investing in these kinds of applications will be costly for the business. Unused programs pose a long-term security risk since it is simple to hack them and gain access to the IT infrastructure, regardless of whether they were web applications or other business-critical applications.
Possibility: Increasing demand for application security through the use of artificial intelligence and machine learning in web- and mobile-based security processes:
Web and mobile apps that go through different stages of the security development life cycle, such as security design and secure coding, are covered under application security. To increase application security, many AI-specific fields, including ML and expert systems, can be used to derive, anticipate, or apply inferences to forecast security risks, discover security vulnerabilities, and provide security coding correction recommendations. These technologies enable security auditors to automate the attack threat identification and code review processes. FuGen X, USM Business Systems, and BR Softech are just a few of the companies that have included AI and ML in their application development initiatives.
Problem: Unused apps pose a serious security risk:
The largest issue is underutilized online and mobile applications. Customers and businesses frequently use programs that are infrequently used or are inactive for extended periods. The hazards posed by these applications are larger. According to a report by Google, 25% of apps on the average smartphone application lie unused but are not inactive. These applications can still establish connections, scan files and images, and unintentionally upload sensitive data to their parent company. To reduce risks, it is therefore vital to uninstall those programs and implement application security solutions.
Testing Technique Outlook (Revenue, USD Billion; 2018-2028)
- Static Application Security Testing (SAST)
- Dynamic Application Security Testing (DAST)
- Interactive Application Security Testing (IAST)
- Run-Time Application Self Protection (RASP)
Component Outlook (Revenue, USD Billion; 2018-2028)
- Web Application Security
- Mobile Application Security
- Professional Services
- Managed Services
Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)
Organization Size Outlook (Revenue, USD Billion; 2018-2028)
- Small and Medium Enterprises
- Large enterprises
Industry Vertical Outlook (Revenue, USD Billion; 2018-2028)
- Government and Defense
- Healthcare and Life Sciences
- Retail and E-commerce
- IT and Telecommunication
- Banking, Financial Services, and Insurance (BFSI)
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- the Asia Pacific
- Latin America
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