Market Research Future (MRFR) predicts the Application Security Market Trends to surpass a valuation of USD 9 Billion from 2017 to 2023 (forecast period). The security breaches affecting business applications, increasing use of mobile and cloud-based technologies, and strict compliance and regulatory requirements for application security are key factors driving the application security market's growth. Owing to an increase in demand for Software as a Service (SaaS)-based application security solutions, the application security market will have an immense opportunity to expand over the next five years.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Application Security Market’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Application Security Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Application Security Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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Juniper Networks, Inc. (U.S), Cisco Systems Inc. (U.S), Skyhigh Networks (U.S), Bitglass Inc. (US), Fortinet, Inc. (U.S), Symantec Corporation (U.S), International Business Machines Corporation (U.S), Microsoft Corporation (U.S), Palo Alto Networks, Inc. (U.S), Netskope Inc. (U.S), CipherCloud (U.S), Trend Micro Inc. (Japan), Zscaler (U.S), Proofpoint Inc. (U.S), CensorNet Ltd. (U.K), McAfee, Inc. (U.S), and Oracle Corporation (U.S) among others are top-notch companies that are operating in the cloud application security market as listed by MRFR.
The segment evaluation of the global cloud application security market is done by vertical, component, and organization size.
The component-based segment of the cloud application security global market are service and solutions. The solution sub-segments are cloud application discovery, data protection, threat protection, and analytics and reporting. The data protection based sub-segments are data loss prevention, encryption, and identity and access management. The cloud application discovery segments are cloud application database and risk assessment. The analytics and reporting segments are anomaly detection, cloud usage analytic, and log management. The threat protection segments are event management, security information, and malware detection and prevention. The services segments include training and education service, consulting service, support services, and other. The organization size-based segments of the cloud application security market are medium-sized enterprises, small enterprises, and large enterprise. The vertical based segments of the cloud application market are IT and telecom, healthcare, BFSI, retail government and defines, and others.
The trends of the global cloud application security market is studied across APAC, EU, MEA, and North America, following the Rest of the World. The cloud application security in the North America region is expected to rise exponentially due to the increase in the adoption of cloud application security solutions across major tech-companies. The presence of effective cloud security infrastructure can also support the expansion of the regional market. In Europe, the expansion of the cloud application market can be attributed to rapid adoption of artificial intelligence enabled solutions by the cloud application security market. In addition, the rise in security breaches and the growing need to comply with strict regulations is boosting the adoption of cloud application that can impel the expansion of the market across the analysis period. The growing popularity of cloud application security solutions, such as cloud application discovery, data protection, threat protection, analytics and reporting, and others can boost the cloud application security global market in the years to come.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
TABLE 1 LIST OF ASSUMPTIONS 19
TABLE 2 GLOBAL APPLICATION SECURITY MARKET, BY SOLUTION, 2020-2027 (USD MILLION) 32
TABLE 3 GLOBAL APPLICATION SECURITY MARKET, BY SERVICES, 2020-2027 (USD MILLION) 35
List of Figures
FIGURE 1 GLOBAL APPLICATION SECURITY MARKET: MARKET STRUCTURE 18
FIGURE 2 RESEARCH PROCESS OF MRFR 21
FIGURE 3 TOP DOWN & BOTTOM-UP APPROACH 24
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