During the forecast period, the application security market is projected to expand at a CAGR of 15.23%.
The market is expected to be driven by factors such as the growing need to secure enterprise applications and data from emerging application layer attacks. Many businesses across the world continue to use web and mobile applications that contain vulnerabilities that, if exploited, could result in significant financial losses. In the coming years, businesses are expected to increase their security spending in order to ensure that their IT infrastructure is safe. Owing to its greater use in organizations for business-critical operations, web application security is projected to have a larger market share than mobile application security. Because of the rising number of smartphone users, the growing BYOD trend, and business mobility needs, the mobile application security market is expected to grow at a faster pace than the web application security market. Technical services, such as consulting, training and education, and support services, are expected to have a greater market share than managed services, as they allow businesses to remain resilient to emerging cyber threats. Due to increased demand for Software-as-a-Service (SaaS) applications among Small and Medium Enterprises, managed services are expected to expand at a faster rate than professional services (SMEs). In 2021, North America is projected to overtake Europe as the leading revenue-generating area for application security vendors. This is due to the fact that in the industrialized economies of the United States and Canada, a strong emphasis is placed on inventions derived from R&D technologies. The APAC region is projected to be the market's fastest-growing region. Increased digitalization and the number of smartphone users are driving this region's growth.

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Application Security Market report has been categorized as below
By Component
Solutions
Web Application Security
Mobile Application Security
Services
Professional Services
Consulting
Training and Education
Support Services
Managed Services
By Testing Type
Static Application Security Testing (SAST)
Dynamic Application Security Testing (DAST)
Interactive Application Security Testing (IAST)
By Deployment Mode
Cloud
On-Premises
By Organization Size
Large Enterprises
Small and Medium Enterprises (SMEs)
By Industry Vertical
Government and Defense
Banking, Financial Services, and Insurance (BFSI)
IT and Telecom
Healthcare
Retail
Education
Other Verticals
By Region
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia Pacific
Japan
China
India
Australia
Rest of Asia Pacific
Rest of the World
South America
Middle East and Africa
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