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IBM, HPE Lead Growing Application Security Market

May 16, 2017 - News

Vendors and their partners will find increasingly more opportunities in providing application security.

study by Grand View Research says the global application security market will be worth $10.7 billion in 2025. That number was $2.05 billion last year. The report attributes much of that growth to the increase of bring-your-own-device IT policies in business.

Grand View named IBM, Hewlett Packard Enterprise, Qualys, Veracode and White Hat Security as application security leaders.

Growth varies within different areas of application security.

Web applications constituted the biggest security sector in 2015 but is anticipated to decrease in size over the next eight years. Dynamic application security testing, which includes vulnerability coverage and code coverage, is expected to reach $4 billion in 2025.

The study also said that the top verticals for application security revenue for the next eight years will be:

  • Banking, financial services and insurance
  • Government and defense
  • Health care
  • IT and telecommunications
  • Manufacturing
  • Retail

The report pointed out a major opportunity for providing security to government agencies.

“The government and defense vertical currently is susceptible to major cyber attacks and security breaches," Grand View wrote. “According to a Veracode report, three out four applications used by government agencies do not meet basic security compliances, thereby by creating high opportunity for market vendors."

The study also noted that managed services in the U.S. was worth $478 million in 2015 and will grow significantly thanks to increased compliance.

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