Original Post: Global Application Security Market Size, Share | Industry Forecast 2031 | by Marketsandata | Oct, 2024
The global application security market is expected to grow at a compound annual growth rate (CAGR) of 16.12% from 2024 to 2031, rising from USD 8.63 billion in 2023 to USD 28.53 billion by 2031. The market focuses on identifying, managing, and fixing application vulnerabilities to protect against cyber threats. The increase in sophisticated cyber attacks is pushing organizations to invest in robust security systems. Key factors driving market growth include rapid adoption of cloud-based technologies, increased security risks from new applications, and the rising demand for zero-trust architectures and API security. Despite growth opportunities, challenges such as a shortage of skilled professionals hinder progress. The future market scenario anticipates regulatory changes, heightened focus on supply chain security, and advancements in identity and access management. Key industry players continue to innovate with new solutions to address these evolving threats.
Go here to read the Original Post