Future | Trends | Technology - Application Security Market

The major factors driving the growth of the application security market are the rising security breaches targeting business applications, increasing the use of mobile and cloud-based technologies, and stringent compliance and regulatory requirements for application security.

Owing to the rise in the demand for Software as a Service (SaaS)-based application security solutions, the application security market finds a huge opportunity to grow in the next five years. The biggest challenge for organizations will be to address the high cost of innovation for application security solutions due to budget constraints as well as the lack of application security expertise.

With the increasing trend of using mobile phones and smartphones for numerous purposes, such as office work, online shopping, and social media access, the mobile application development has increased.

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Technological advancements, penetration of digital technologies, and Bring Your Own Device (BYOD) trend in organizations have greatly influenced work practices and led to an unprecedented rise in data volumes. These factors have led to the adoption of automatic software-based applications for analyzing data in real time, which have replaced the traditional data mining applications and tools. 

Mobile application security ensures the confidentiality of the data transferred among mobile applications while ensuring transparency and visibility among business processes. 

With the increase in the use of the latest technologies, such as AI and ML, application security is getting advanced with each passing day and the growing economies of North America make it easier for enterprises to invest into these new technologies in huge amounts. The presence of key application security market players in this region is a major factor responsible for the growth.