Application Security Market to Reach USD 37.7 Billion by 2032 | SNS Insider

The Application Security Market is growing rapidly, driven by rising cyber threats, regulatory compliance, and increasing cloud adoption.

AUSTIN, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- The Application Security Market was valued at USD 9.4 billion in 2023 and is expected to reach USD 37.7 billion by 2032, growing at a CAGR of 16.7% from 2024 to 2032. Growth is driven by increasing cyber threats, stringent compliance requirements, and the expansion of cloud-based applications. Key areas include feature advancements, user demographics, and software integration. Large enterprises and regulated industries like BFSI and healthcare are prioritizing AI-driven security solutions, real-time monitoring, and encryption to protect sensitive data.

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Keyplayers:
IBM Corporation (IBM AppScan, IBM Security Verify)
Synopsys, Inc. (Coverity, Black Duck)
Checkmarx (Checkmarx SAST, Checkmarx IAST)
Imperva (Imperva Data Security Platform, Imperva Web Application Firewall)
Veracode (Veracode Static Analysis, Veracode Dynamic Analysis)
Fortinet, Inc. (FortiWeb, FortiWeb Cloud WAF-as-a-Service)
Palo Alto Networks, Inc. (Prisma Cloud, App-ID)
Micro Focus (OpenText) (Fortify Static Code Analyzer, Fortify on Demand)
Trend Micro (Trend Micro Cloud One, Trend Micro Deep Security)
Qualys, Inc. (Qualys Web Application Scanning, Qualys Web Application Firewall)

By Component, Solutions Segment Dominates Application Security Market Amid Rising Cyber Threats and Compliance Needs
In 2023, the solutions segment held the largest share in the Application Security market due to growing cyber threats and strong regulatory compliance demands. Businesses are focusing on cutting-edge security technologies like AI-driven threat detection, real-time monitoring, and encryption to protect applications from emerging threats. Compliance regulations such as GDPR, CCPA, and PSD2 also contribute to the acceleration of adoption. An exponential digital transition through various sectors, including BFSI and healthcare, has opened new attack surfaces compelling organizations to invest highly in robust security solutions to safeguard sensitive information, ensure compliance, and retain customer confidence.

By Deployment Mode, On-Premises Dominates Application Security Market Amid Rising Compliance and Security Demands
On-premise share stood at 62% in 2023, which gained traction in areas such as health care, BFSI, and government services, aimed at optimum control over the data that crosses the physical boundary. The trend is also supported by strict regulations such as CCPA and India's data localization policies. In this regard, organizations with legacy IT systems prefer on-premises deployments for seamless integration and customization of security features. Moreover, government mandates for local data storage also boost adoption, making on-premises solutions preferred for enterprises dealing with sensitive data. On-premises also dominated the Application Security Market, showing similar security concerns.

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By Type, Web Application Security Leads Market as Cyber Threats and Regulations Drive Growth
The web application security segment dominated the market in 2023, with increasing web-based attacks, especially in BFSI and retail. ENISA has identified credential theft and phishing as key threats, which reinforces security needs. Government mandates such as CISA's guidelines on SQL injection and XSS, along with GDPR's strict data protection rules, further accelerate adoption. The shift to e-commerce and digital platforms has made advanced security measures more urgent, and web app security is the top priority for businesses across the globe.

By Vertical, BFSI Leads Application Security Market as Cyber Threats and Digital Banking Surge
In 2023, the BFSI sector dominated the Application Security market, accounting for over 19% of global revenue due to its high exposure to cyber-attacks nearly 300 times more than other sectors. Strict regulations have been implemented by governments; for instance, RBI mandates multi-factor authentication in India and the SCA under PSD2 in Europe. COVID-19 has brought digital banking into widespread use at breakneck speed, increasing attack surfaces and prompting major security investments. Financial institutions thus incorporate real-time monitoring, encryption, and AI-driven threat detection to safeguard customer data and instill confidence in them.

By Organization Size, Large Enterprises Lead Application Security Market as Cyber Risks and Compliance Demands Intensify
Large enterprises were the largest segment in 2023, mainly due to their massive digital infrastructures and increased vulnerability to cyber threats. Large organizations have complex IT ecosystems, which increase the risk of data breaches, and therefore require more sophisticated security solutions such as AI-driven threat detection and real-time monitoring. Compliance with regulations such as GDPR, CCPA, and HIPAA also forces large firms to invest in robust security frameworks. The rapid rise in the adoption of cloud technologies and digital transformation has opened expanded attack surfaces, with cybersecurity being highly prioritized for guarding sensitive business and customer data.

North America Leads Application Security Market with 39% Share, Driven by Compliance and Rising Data Breaches
In 2023, North America captured the major portion of the Application Security market share at 39%. It will derive from highly sophisticated security technologies, tough regulations as those posed by CCPA and HIPAA, and from its head-start nature of early adopting cloud services within the region. Rising rates of cyber-attacks only expedite the increasing pace, especially for the US with the IBM report Cost of a Data Breach estimating loss, on average at USD 9.48 million in case of any breach. While enterprises are tightening security measures, North America is to remain strong during the forecast period, with investments in next-generation security solutions to counter risk and stay compliant in this fast-changing digital age.

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