DUBLIN--(BUSINESS WIRE)--The "Dynamic Application Security Testing Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Dynamic application security testing (DAST) Market is expected to reach a CAGR of 24.3% during the forecast period (2020-2025).
The increasing number of web-based applications and mobile applications need for faster deployment, and the robust maintenance of these applications and continuously increasing cyber-attacks are some of the major factors driving the growth of the market.
Key Market Trends
BFSI is Expected to Witness Significant Growth
The rapid adoption of cloud infrastructure and third-party applications, the trend towards open banking has led to increased emphasis on application security testing. Big players in the BFSI industry are revamping third party data access due to security threats. For instance, in January 2020, JPMorgan Chase announced that it would ban third-party apps from accessing customer passwords.
- In February 2020, London-based Finastra, one of the largest fintech companies, mentioned partnering with Synopsis for the adoption of cloud-based security solutions for all its online banking applications. To date, Finastra has a customer base of more than 9,000 banks and financial institutions.
- Moreover, mobile banking malware requires little technical knowledge to develop and even less to operate. The malware searches for a banking app on the infected device and creates a fake overlay page once the user opens it. The user will then enter the user's credentials, sending it directly to the attacker's server. The increasing sophistication of cyber-attacks has also resulted in increased adoption of security testing solutions.
- In July 2019, a hacker gained access to personal information of around 106 million customers of financial corporation Capital One - the third-largest issuer of credit cards in the United States by exploiting a misconfigured web application firewall. It included 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, in addition to an undisclosed number of people's names, addresses, credit scores, credit limits, balances, and other information, according to the bank and the US Department of Justice.
North America is Expected to Hold Major Share
The region is expected to dominate the dynamic application security testing market driven by the United States, which is the global technological leader. Its higher dependence on cloud-based applications and investments by players in the country in security solutions are driving the demand for security-as-a-service (SaaS) in the United States.
- Moreover, cyberattacks in North America are rising rapidly and have reached an all-time high, primarily owing to the rapidly increasing number of connected devices in the region. In the United States, consumers are using public clouds, and many of their mobile applications are preloaded with their personal information for the convenience of banking, shopping, communication, etc.
- The bandwidths that 5G enables are expected to drive an explosion in numbers of connected devices and applications. eHealth applications will collect data about users' well-being, whereas Smart city applications will receive information about how users live their lives. The ever-growing volume of personal data will need to be protected against breaches and theft. Therefore vendors from various industries in the region are incorporating security testing solutions in the early stages of the software development lifecycle.
- According to Deccan Herald, the IT Technological giant Wipro invested in the US-based cybersecurity company Vectra Networks and the fraud prevention firm, Emailage Corporation, in order to establish a cyber defense platform. Wipro also invested USD 8.83 million in application security company Denim Group.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Market Drivers
4.4.1 Growing Adoption of Third-Party Applications
4.4.2 Increasing Sophistication Level of Cyber-Attacks
4.5 Market Challenges
4.5.1 High Deployment Costs and the Need to Quickly Deploy Applications to End-Users
5 IMPACT OF COVID-19 ON THE PLASTIC PACKAGING INDUSTRY
6 MARKET SEGMENTATION
6.1 By Type
6.2 By Application**
6.2.1 Web Application Security
6.2.2 Mobile Application Security
6.3 By End-user Vertical
6.3.1 IT and Telecom
6.3.2 Banking, Financial Services, and Insurance
6.3.4 Government and Defense
6.4.1 North America
6.4.3 Asia Pacific
6.4.4 Middle East and Africa
6.4.5 Latin America
7 COMPETITIVE LANDSCAPE
7.1 Company Profile*
7.1.1 IBM Corporation
7.1.2 Micro Focus International PLC
7.1.3 Synopsys, Inc.
7.1.4 Veracode, Inc.
7.1.5 WhiteHat Security, Inc.
7.1.6 Accenture PLC
7.1.7 Pradeo Security Systems SAS
7.1.8 Rapid7 Inc.
7.1.9 Tieto Corporation
7.1.10 Trustwave Holdings, Inc.
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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