The application security service provider services registered a phenomenal growth in the year 2018 and are expected to grow at a compound annual growth rate of 25% between the years 2018-2024. The industry is governed by several factors that play a crucial role in the growth and development of the industry. The rise in purchasing power, coupled with innovation in the space, is expected to drive growth in the industry. On the other hand, the rising number of threats has forced manufacturers to look from a different perspective.
When it comes to global application security service provider services, there is a slew of factors that affect the growth prospects of the industry. The need for security, coupled with increasing usage of mobile and web applications, has also given a significant boost to the industry. Furthermore, the growing number of threats for the corporate giants have forced companies to rethink their strategies. The industry is still in its nascent stage and is expected to rise phenomenally all across the globe.
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The massive opportunity has attracted global attention, and investors have been pouring money into the application security service provider services industry. However, despite the growing challenges, the industry is met with skeptic’s eyes. The lack of skilled individuals, loopholes in the current technologies coupled, and challenges in the wide-scale adoption of new technologies have been hurting the growth prospects of the industry. However, with companies taking their steps towards appliance security, the industry is expected to flourish further. The analysts remain positive about the growth prospects, and the industry makes see some significant changes in the years to come.
The key players covered in this study
OneNeck IT Solutions
Sirius Computer Solutions
7 Layer Solutions
The global application security service provider industry can be segmented on several key factors. However, the chief factors that affect the growth prospects of the industry are an application, service, deployment, organization size, and types of security testing. Based on the application, the industry is segmented into web application security and mobile application security. On the other hand, based on services, the industry is segmented into managed and professional services. While based on deployment, the industry can be segmented into cloud and on-premise solutions. By the organization’s size, the industry is segmented into small and medium enterprises and large enterprises.
The application security service provider services industry finds its most extensive application in North America. Growing concern on security and the presence of a large number of internet-enabled companies have helped the industry grow by leap and bound in the region. On the other hand, Europe, followed by the Asia Pacific region. India and China lead the race in the area due to a large number of IT companies in the region.
In a recent piece of news, Adobe- one of the global leader in software solutions, has found itself victim of a massive cyber security breach. The company lost over 7.5 million customer data. The company had suffered from a similar fate back in 2013 when the industry lost crucial account details of 38 million customers.
Table of Contents
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
5 United States
9 Southeast Asia
11 Central & South America
12 International Players Profiles
13 Market Forecast 2019-2025
14 Analyst’s Viewpoints/Conclusions
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