Application Security Market: Understanding the Shift to Managed Services

The global application security market size was valued at USD 7.57 billion in 2023 and is expected to reach USD 25.10 billion by 2030, expanding at a CAGR of 18.7% from 2024 to 2030. The market growth is primarily driven by the need to secure customer data, strengthen trust, protect sensitive information from cyber threats, and enhance confidence among stakeholders such as lenders and investors.

Moreover, the rising frequency of security breaches targeting business applications, the increasing adoption of mobile and cloud-based technologies, and stringent compliance regulations are further fueling demand for application security solutions. The market also benefits from the growing preference for Software as a Service (SaaS)-based security platforms.

Modern application security platforms enable organizations to discover and map services, dependencies, APIs, and data flows, helping them address vulnerabilities more effectively. For example, in June 2023, Bionic, a provider of application security solutions, introduced Business Risk Scoring and Bionic Signals to its platform. These features help engineering teams prioritize and manage security risks by contextualizing vulnerabilities, assessing exposure based on architecture dependencies, and ranking applications by relative business risk. This advancement empowers organizations to quickly detect, prioritize, and mitigate critical threats, thereby supporting overall market growth.

Key Market Highlights:

• North America dominated the market in 2023.
• By component, the solution segment held a revenue share of over 67.0% in 2023.
• By end use, the BFSI segment led the market in 2023.
• By solution, web application security accounted for the largest revenue share in 2023.
• By services, professional services held the highest revenue share in 2023.

Download a free sample PDF of the Application Security Market Intelligence Study from Grand View Research.

Market Performance:

• 2023 Market Size: USD 7.57 Billion
• 2030 Projected Market Size: USD 25.10 Billion
• CAGR (2024–2030): 18.7%
• North America: Largest market in 2023
• Asia Pacific: Fastest-growing region

Prominent Companies & Market Dynamics:

Leading players in the market include Cisco Systems, Inc., International Business Machines Corporation, and F5, Inc.

• Cisco Systems, Inc. offers a range of application security solutions such as Cisco Umbrella and Cisco Secure Cloud Analytics, which automate and orchestrate protection across applications, networks, and cloud environments, with seamless integration with third-party products.
• F5, Inc. delivers application security platforms such as its Advanced Web Application Firewall (WAF) and Advanced Firewall Manager (AFM), designed to defend against large-scale DDoS attacks and other advanced threats. These solutions automatically adapt to traffic changes while safeguarding legitimate users.

Other notable participants include CAST Software, Rapid7, and GitLab.

• CAST Software provides the CAST Security Dashboard, enabling enterprises to proactively design secure systems and identify high-risk flaws across mission-critical software.
• Rapid7 is transforming application security with DevOps Security Automation, embedding security into DevOps pipelines for seamless protection.

Key Companies:

• MicroFocus
• Onapsis
• Rapid7
• Synopsys, Inc.
• Veracode
• VMware
• WhiteHat Security

Explore Horizon Databook – the world’s most comprehensive market intelligence platform by Grand View Research.

Conclusion

The application security market is on a strong growth trajectory, supported by the rising demand for data protection, compliance with regulatory frameworks, and the increasing reliance on mobile and cloud technologies. With advanced platforms enhancing visibility and risk management, and leading companies investing in innovative security solutions, the market is well-positioned for significant expansion through 2030.