Organizations have enormous data repositories which need to be protected from threats. During the implementation of a robust security plan, businesses have to adopt rigorous security systems. Application security includes identifying, rectifying, and securing the security loopholes or stopping malicious attacks, throughout a particular code’s life cycle. In simple terms, application security is the use of a set of software, hardware, and other means to protect an application from external attacks or threats. Application security helps bridge the gaps within the security system of enterprise applications. The application security systems mitigate or reduce the security risks involved in the operation of various applications such as mobile and web applications.
Usage of smartphones has increased rapidly in a span of a decade; with the increase in smartphones adoption there is a high penetration of smartphone-supported applications. Protection of these applications has become vital and application security solutions are used for the purpose. Growing risk factors for mobile-based applications have increased the security needs for applications. Applications which include monetary transactions have confidential information such as account details and all the banking and the login details of the application user. Due to the rapid growth of monetary-transactions-based applications, security has become vital.
Application security software enables the protection of sensitive data stored within various applications. Application security systems are essential in the banking sector to protect the crucial credentials of the bank’s data. Rapid growth in the number of Internet of Things (IoT) based applications has been a supporting factor for the growth of the application security market. Growing concerns related to the security breaches of business applications is also expected to give rise to application security systems. Hybrid analysis or interactive application security testing (IAST), which gives competitive advantages such as the detection of false inputs and identifying breaches of security code has also increased over a period of time. These prove to be some of the most influential driving forces to application security market. With increasing malicious attacks on consumer applications in various sectors, the demand for the application security market is anticipated to rise during the forecast period. Increasing security needs have forced the major software and services companies to invest in application security systems. One of the restraints on this market could be the growing competition among the information and technology companies, which makes the application security market highly competitive. The growth of mobile applications in the recent past is viewed as a trend in the application security market.
Two major components of application security are services and solutions. Managed services and professional services are among the types of application security services. Mobile application security and web application security are two types of solutions of application security systems. Furthermore, on-premise and cloud-based are two types of deployment for application security software. Small, medium, and large enterprises are involved in the adoption of application security. Education, banking and insurance services, retail, government, energy, hospitality, and media and entertainment are some of the end-use industries of the application security market.
Some of the major players in the application security market are IBM Corporation, Hewlett Packard Enterprise, Veracode, Cigital, Inc., WhiteHat Security, Inc., Inc., Trustwave Holdings, Inc., Qualys, Inc., Acunetix Ltd., Checkmarx Ltd, and Rapid7, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.