A new report by Reports and Data forecasts that the global Application Security Market will reach USD 19.97 billion by 2028. As more organizations develop their applications, the risks and vulnerabilities associated with data security have increased, making application security essential. The safety and security of sensitive information is a top concern for businesses, and this is why users are often hesitant to share personal information online, especially in the online retail and credit card industries. The Payment Card Industry has enforced guidelines and security standards to ensure the safety of online transactions and reduce credit card fraud.

In addition, the growing importance of security testing for applications and its benefits are expected to influence the market in the coming years. Security testing can help detect potential threats and weaknesses, ensuring that mobile and website applications are secured against cyber-attacks.

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The report also highlights that static application security testing (SAST) accounted for the largest market share of approximately 32% in 2018. SAST is the simplest form of security testing, which can detect high-risk software vulnerabilities that could affect the system throughout the software life. Interactive application security testing (IAST) is expected to witness a higher growth rate of 27.5% during the forecast period. IAST works by leveraging information from the running application to find vulnerabilities accurately.

Driving factors of Application Security Market

1. Increasing number of organizations developing their own applications.
2. Rising risks and vulnerabilities associated with data security.
3. Growing importance of security testing for applications.
4. Concerns regarding the safety and security of sensitive information.
5. Enforcement of guidelines and security standards by Payment Card Industry (PCI) to reduce credit card fraud and secure online transactions.
6. Emergence of digitalization, particularly online shopping.
7. Growing investments in IoT and mobile applications.
8. Increasing demand for outsourcing services from small and medium-sized enterprises.
9. Adoption of enterprise applications.
10. High penetration of cloud technology.

Some of the notable innovations in the Application Security Market

1. Interactive Application Security Testing (IAST): This technology leverages information from running applications to accurately identify vulnerabilities. It eliminates the need for extensive tuning, configuration, and customization, and allows for continuous and automatic testing.
2. DevSecOps: This approach integrates security into the entire application development process, from planning to deployment and maintenance. It enables developers to identify and address security issues early in the development process, reducing the risk of vulnerabilities in the final product.
3. AI and Machine Learning: These technologies are being used to improve the accuracy and efficiency of security testing. They can quickly analyze large amounts of data to identify potential threats and vulnerabilities.
4. Cloud-Based Security: With more applications and data moving to the cloud, cloud-based security solutions are becoming increasingly important. These solutions offer improved scalability, flexibility, and cost-effectiveness.
5. Container Security: As more organizations adopt containerization, container security has become a critical concern. Innovations in this area include container-specific security solutions, such as runtime protection and vulnerability scanning.

Major players in the market include

Acunetix, Capgemini, Hellman & Friedman LLC, Onapsis, Pradeo, IBM Corporation, Checkmarx Ltd., HCL Technologies Limited, Contrast Security, Synopsys, Inc., NTT Security AppSec Solutions Inc., and Rapid7.

To know more about the report @ https://www.reportsanddata.com/report-detail/application-security-market 

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