According to a new report, published by KBV research, The Global Mobile Application Security Testing Market size is expected to reach $5.3 billion by 2030, rising at a market growth of 27.0% CAGR during the forecast period.
The Services segment is exhibiting a CAGR of 28.7% during (2023 - 2030). The burgeoning complexity of mobile application ecosystems, fueled by diverse operating systems, device types, and app functionalities, has amplified the challenges of securing mobile applications. Organizations recognize that ensuring robust security requires more than off-the-shelf tools; it demands tailored services that can navigate the intricacies of their specific mobile app environments. Hence, there will be increased growth in the segment.
The Large Enterprises segment is generating the highest revenue the Global Mobile Application Security Testing Market by Organization Size in 2022; thereby, achieving a market value of $3.6 billion by 2030. Large enterprises typically operate in complex IT environments, encompassing many applications, systems, and platforms. The diverse technology stack often includes legacy systems, third-party integrations, and a mix of on-premises and cloud-based solutions. As a result, the segment will expand rapidly in the coming years.
The On-premise segment is experiencing a CAGR of 25.6% during (2023 - 2030). On-premise solutions provide organizations with direct control over their data and security infrastructure. This is especially critical for organizations functioning in heavily regulated sectors, including finance, healthcare, or government, where stringent compliance obligations necessitate heightened oversight of sensitive data. Therefore, these aspects will help expand the segment.
The Android segment is leading the Global Mobile Application Security Testing Market by OS Type in 2022; thereby, achieving a market value of $3.2 billion by 2030. Android's fragmentation, characterized by the coexistence of multiple OS versions across devices, presents a significant challenge for security testing. MAST solutions targeting the Android segment need to address security considerations for legacy and current Android versions. Hence, these factors will pose lucrative growth prospects for the segment.
The BFSI segment is registering a CAGR of 26.7% during (2023 - 2030). In the BFSI sector, mobile applications provide seamless and accessible financial services to a diverse and widespread customer base. Mobile banking apps, in particular, have become a primary channel for customers to check balances, transfer funds, pay bills, and conduct various financial transactions. Thus, there will be increased demand in the segment.
Full Report: https://www.kbvresearch.com/mobile-application-security-testing-market/
The North America region dominated the Global Mobile Application Security Testing Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Europe region is anticipating a CAGR of 26.6% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 27.9% during (2023 - 2030).
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