North American Application Security Market to See Significant Growth Through 2026 Driven by Mobile and Cloud
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North America will account for 46% of application security market growth during 2022-2026 due to proliferation of mobile devices, rise of cloud, and presence of major vendors.
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Market expected to grow at 25.55% CAGR from 2021-2026, reaching $16.68 billion. Key drivers are increasing data breaches and cyber attacks.
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Web application security segment will see significant growth as enterprises use web apps for business and connecting with customers.
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Threats from open source application security solutions poses a challenge to market growth as small enterprises adopt them to minimize costs.
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Vendor landscape is fragmented. Key players include Broadcom, Capgemini, Checkmarx, Contrast Security, Dynatrace, F5 Networks, and Fortinet.