Application Security Market | Exactitude Consultancy Reports

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Application Security Market Overview
The application security market is expected to grow at 18.5% CAGR from 2021 to 2029. It is expected to reach above USD 28.25 billion by 2029 from USD 6.14 billion in 2020.

Application security refers to the security safeguards put in place at the application level to prevent cybercriminals or hijackers from hacking into the application. It contains methods and procedures for protecting apps after they have been launched. Application security also safeguards and mitigates security flaws in hardware and software. Application security for hardware is analogous to a router that prevents a computer system from viewing its IP address on the internet. An application firewall, on the other hand, protects software at the application level and prevents illegal activities. An example of application security technology is regular testing, which is part of an application security routine.
Segment Analysis
The application security market is segmented based on type, deployment mode, organization size, testing type, end use and region, global trends and forecast.

The market is segmented into web application security and mobile application security based on type of application security. The web application security segment is expected to account for the largest share of the application security market in 2021. Growing demand for filtering and monitoring HTTP traffic between web applications, rising data and security breaches, and increased adoption of technologies such as AI for web applications are driving the growth of this segment.

Based on deployment mode the market is segmented into Cloud and On-Premises. The cloud-based deployment mode is expected to grow at the fastest CAGR during the forecast period. Cloud computing is becoming more popular among small and medium-sized businesses. Several organizations are gradually transitioning to cloud infrastructure, and this trend is expected to accelerate in the coming years. This segment’s rapid growth can be attributed to its ease of adoption, low reliance on in-house infrastructure, scalability, and simple installation of security solutions.

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