July 24, 2024

Dynamic Application Security Testing Market: Increasing Focus on Cybersecurity Driving Market Growth

The global Dynamic Application Security Testing (DAST) Market is estimated to be valued at US$2.56 billion in 2023 and is expected to exhibit a CAGR of 18.74% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Dynamic Application Security Testing (DAST) refers to the technique of secure code analysis that helps in identifying vulnerabilities and security flaws in real-time during the software development process. It provides advantages such as improved security, enhanced code quality, reduced risk of data breaches, and better compliance with industry regulations. The growing need for robust cybersecurity solutions as a result of increasing cyber threats is driving the demand for DAST.

Market Key Trends:

One key trend in the DAST market is the increasing adoption of automation in security testing. With the emergence of new vulnerabilities and sophisticated hacking techniques, organizations are leveraging automation tools to continuously scan and test their applications for potential security risks. This enables faster identification and remediation of vulnerabilities, ensuring better protection against cyber threats. Automation also helps in reducing human errors and the time required for manual security testing processes.

Overall, the dynamic application security testing market is expected to witness significant growth due to the increasing focus on cybersecurity and the adoption of automated security testing solutions.

Porter’s Analysis

Threat of New Entrants: The threat of new entrants in the dynamic application security testing market is moderate. Although the market is highly competitive, the high initial investment required to establish a strong presence in the market acts as a barrier to entry for new players. Additionally, existing key players have already established strong relationships with clients and have a wide range of solutions and services in their portfolio, making it difficult for new entrants to gain market share.

Bargaining Power of Buyers: The bargaining power of buyers in the dynamic application security testing market is high. This is primarily due to the availability of several vendors in the market. Buyers have the option to choose from multiple vendors, which gives them the ability to negotiate for competitive prices and quality services. Additionally, buyers have become more aware of the importance of application security testing, which further strengthens their bargaining power.

Bargaining Power of Suppliers: The bargaining power of suppliers in the dynamic application security testing market is relatively low. This is because there are several suppliers available in the market, providing a wide range of solutions and services. Moreover, suppliers heavily rely on key players in the market to distribute their products and services, which limits their bargaining power.

Threat of New Substitutes: The threat of new substitutes in the dynamic application security testing market is low. Application security testing plays a crucial role in safeguarding sensitive data and preventing potential cyber-attacks. As such, organizations are unlikely to substitute dynamic application security testing with alternative solutions, as the risk associated with inadequate security measures is high.

Competitive Rivalry: The competitive rivalry in the dynamic application security testing market is intense. Key players in the market continuously innovate and strive to differentiate their offerings in order to gain a competitive edge. This leads to intense competition among key players, resulting in price wars and constant product enhancements.

Key Takeaways

The Global Dynamic Application Security Testing Market Demand  is expected to witness high growth, exhibiting a CAGR of 18.74% over the forecast period. This growth can be attributed to the increasing number of cyber-attacks and data breaches, which have highlighted the need for robust application security testing solutions. Organizations across various industries are investing heavily in dynamic application security testing to protect their sensitive data and ensure compliance with regulatory requirements.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the dynamic application security testing market. This can be attributed to the presence of several key players and the increasing adoption of advanced technologies in the region. Additionally, stringent government regulations regarding data security have further fueled the demand for dynamic application security testing solutions in North America.

Key players operating in the dynamic application security testing market include WhiteHat Security, Veracode, Synopsys, Accenture, IBM Corporation, Micro Focus, Pradeo, Rapid7, Tieto, and Trustwave holdings, Inc. These key players have a strong presence in the market and offer a wide range of solutions and services to cater to the diverse needs of organizations. Their focus on continuous innovation and strategic collaborations allows them to maintain a competitive position in the market.

 

 

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it