" With Growing Rate of Cybercrimes and Data Privacy Concerns, Use of Security Tools by Ecommerce Market is Driving the Growth for Dynamic Application Security Testing Market."
The Global market for dynamic application security testing is forecast to reach $2.4billion by 2025, growing at a CAGR of 17.4% from 2020 to 2025. The growing demand forapplication security by major industry verticals such as healthcare, IT and Telecom and many others along with higher usage of mobile applications are helping in significant market growth. Stringent government regulations for improving organization security standards and high usage of cloud based applications are causing a positive impact on the Dynamic Application Security Testing Market. Moreover, rising rate of cybercrimes globally as well as growing adoption from e-commerce sector is acting as major drivers towards boosting the growth of dynamic application security testing market.
Application - Segment Analysis
Based on application, the dynamic application security testing market has been segmented under mobile application security and web application security.With the increasing threats towards web security, web application security is expected to have a major share in the dynamic application security testing market during the forecast period 2020-2025. Since web applications helps in addressing public facing ecommerce stores to internal financial systems, thus boosting the business growth alongside creating potential security threat concerns. Usage of dynamic application security testing tools helps the security teams in providingtimely insights about behaviour of web applications during production process, thus helping the organizations to address the potential vulnerabilities more effectively ensuring high security standards. Web Application Security also helps in improving security of web applications from external as well as internal threats and attacks such as SQL injection, cross site scripting and many others, thus helping the businesses to grow. Moreover, with the high rise of web applications attacks, various businesses have started shifting their focus towards prioritizing web application security as early in the SDLC. By incorporating a dynamic application security testing for web security applications, organizations can help in significant reduction of business risks, thus protecting their systems from cybercriminals.
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Geography - Segment Analysis
North America has dominated the global dynamic application security testing market in 2019 and is expected to have a significant market share during the forecast period from 2020 to 2025. Presence of key players such as White Hat Security Inc., Synopsys and IBM Corporationare acting as major drivers for the growth of dynamic application security testing market.Increasing demand for application security by leading organisations and rise of smart phone penetration hasbeen helping in causing higher growth towards dynamic application security testing market. Moreover, rising adoption of cloud based applications along with investments towards the research and development activities are also fuelling the dynamic application security testing market. Stringent governmental regulations towards implementing advanced application security testing tools and growing rate of cybercrimes has been also causing a major impact for creating higher dominance towards dynamic application security testing market.
Drivers – Dynamic Application Security Testing Market
Rising adoption from ecommerce
Rising rate of business risks in e-commerce has been acting as a major driving factor towards significant growth of dynamic application security testing market. As the shopping websites and many other e-commerce applications provides accessibility from different type of devices, thus causing major security concerns. Moreover, payments made through e-wallets and many other online transaction applications make use of personal data such as bank account details, thus causing severe threats of password hacking as well as financial thefts. Deployment of dynamic application security testing tools helps in identifying vulnerabilities across a simulated or live production environment, thus improving the security standards for the ecommerce applications. Moreover, it has become highly crucial for ecommerce platforms to provide end to end security for their customers due to growing security breaches and creating a data sensitive environment. Usage of dynamic application security testing helps din tracking threats while the applications are running, which acts as a major advantage compared to static application security testingSuch features helps in better identification of real world hacking vulnerabilities, thus creating higher adoption from ecommerce sector.With growing rate of cybercrimes and data privacy concerns, use of security tools by ecommerce market is driving the growth for dynamic application security testing market.
Growing rate of cybercrimes
Growing rate of cybercrimes has been acting as one of the major driving factor for the growth of dynamic application security market. Since various organizations have been adopting higher range of third party applications, security breaches becomes a major threat for the industries. Usage of advanced technologies by the cyber hackers have been creating higher needs towards deployment of efficient application security tools by the enterprises. In 2019, a U.S based financial services company named Capital One had revealed that a hacker gained access to personal information of 106 million credit card applicants and customers in U.S and Canada by exploiting a misconfigured web application firewall. Due to this breach, about one million Canadian social insurance numbers, 140,000 U.S social security numbers along with 80,000 linked bank account numbers of the customers had been compromised. Such factors have been eventually creating higher demands towards dynamic application security testing tools to provide higher data encryption as well as highlight the vulnerabilities with a hacker approach, thus causing major demands in the market. Moreover, with the surge of covid-19 pandemic cybercrimes have been increasing highly, thus affecting the large enterprises to protect their business data from the growing cybercriminals.
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Challenges – Dynamic Application Security Testing Market
Increased testing time
Increased testing time has been acting as one of the major challenge towards hampering the growth of dynamic application security testing market. Since the dynamic testing application security testing tools requires a running application, it delays the security testing process until the development process takes place. Moreover, dynamic application security testing tools are incapable of finding the exact site of weakness in the code, causing the security teams of the organizations to invest more time. Additionally, the use of such tools identifies vulnerabilities in thesoftware development life cycle, causing more time to fix the issues adding to its cost. Such factors eventually hamper its market growth causing lesser adoption from small as well as large enterprises to avoid work delays in the business environments.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the dynamic application security testing Market. The major key players in the dynamic application security testing market include White Hat Security Inc., Synopsys, Veracode, IBM Corporation, Rapid7, Micro Focus International plc, Accenture plc, TietoEVRY Oyj, Pradeo Security Solutions SAS and Trustwave Holdings.
Partnerships/Product Launches/Acquisition
InNovember 2019, IBM had announced the launch of Cloud Pak for security as an initiative to connect both cloud or on premise models of security tools without removing data from original sources. This platform leverages open source technology for hunting threats as well as creating automation capabilities to offer speed response towards cyber attacks. Moreover, cloudpak provides searching and translating of security data from a variety of sources along with combiningcritical security insights from company’s multicloud IT environments.
In April 2019, Beyond Security and Ubiquitous AI Corporation had jointly announced thedevelopment of a vulnerability verification tool named, beSTORMX for conducting vulnerability testing across IoT based devices. The beSTORMX tool offers flexible and powerful testing environment that helps in addressing complex attack scenarios that was difficult using conventional tool
Key Takeaways
Web Application security is contributing for major shares in the dynamic application security testing market due to rising cyber threats towards web applications causing higher adoptability from the businesses.
Key Players such as IBM Corporation and Synopsys are acting as major drivers towards significant market growth of dynamic application security testing in North America.
Increasing rate of cyber crimes and rising adoption of dynamic application security testing tools from ecommerce sector are some of the major driving factors in causing dominance of dynamic application security testing in the market.
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