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Application security market to grow by USD 16.68 Billion between 2022-2026 | The market is driven by the growing number of data leaks

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NEW YORK, Nov. 5, 2023 /PRNewswire/ — According to Technavio, the global application security market size is estimated to grow by USD 16.68 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 25.55% during the forecast period. The market is driven by the growing number of data leaks. Globally, the number of cybercrimes is growing at an alarming rate. For instance, the number of data breaches jumped to 68% in 2021 compared to the previous year. In March and April 2020, hackers leaked the login credentials of staff at the World Health Organization (WHO). Similarly, in April 2020, about 500,000 passwords of Zoom users, a virtual meeting app, were stolen and were made available for sale in the black market. The increasing incidences of cyber attacks is compelling enterprises to invest in security solutions to safeguard critical areas of concern, which is driving the growth of the market. Gain deeper insights into the market study. Buy the report!

Technavio has announced its latest market research report titled Global Application Security Market 2023-2027
Technavio has announced its latest market research report titled Global Application Security Market 2023-2027

Application security market – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

  • Bargaining Power of Buyers 
  • The threat of New Entrants
  • Threat of Rivalry
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Interpretation of porter’s five models helps to strategize the business. For highlights – Download Sample Report

Application security market – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Application Security Market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (web application security and mobile application security) and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

  • The market growth in the web application security segment will be…

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Cabinet Office tight-lipped on number of government cyberattacks and malware infections

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A minister has declined to provide any data on the number of cyberattacks targeted at government or malware infections suffered by departments during the past year.

In recent parliamentary questions, Labour peer Lord Steve Bassam asked the Cabinet Office to provide information on “how many individual devices issued by government departments have been identified as containing malware”, as well as data on “how many successful, and unsuccessful, cyberattacks have been identified in each government department”. In each case, Bassam requested figures covering the prior 12 months.

In response, Baroness Lucy Neville-Rolfe – a minister of state at the Cabinet Office – declined to provide any numbers, indicating in each case that this is reflective of a policy that “the government does not comment on issues concerning national security”.

She added that the Government Security Strategy, published last year, will help public bodies ensure their resilience against both attempted and successful attacks.

“A key objective of the strategy covers how the government will minimise the impact of cybersecurity incidents,” she said. “Departments will need to prepare for incidents, be able to respond and contain when they inevitably do happen and learn the lessons from them after the event.”

The minister added: “The strategy outlines how departments must be able to minimise the impact when malware is found.”

Despite Neville-Rolfe’s comments, government bodies do provide some data on security incidents, with departments’ yearly accounts providing annual comparative information on the volume, nature, and impact of data breaches during the prior 12 months.

Ministers have also previously answered questions about topics such as the volume of government-owned devices lost or stolen each year.

Sam Trendall is editor of CSW’s sister title PublicTechnology, where this story first appeared

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Don’t trust that update! Untold number of Android users duped by dangerous SpyNote trojan

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Android users have been put on spyware high-alert as a banking trojan by the name of SpyNote has recently returned to the limelight.

The Android-based malware has been a background security threat for users since 2022. However, now in its third revision and with source code of of one of its variants (known as ‘CypherRat’) having leaked online in January of 2023, detections of this spyware have spiked throughout the year.

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Number of email-based phishing attacks surges 464%

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The evolving cyberattack landscape reveals the increasing utilization of generative artificial intelligence (AI) systems, like ChatGPT, by cybercriminals for crafting malicious content and executing sophisticated attacks, according to Acronis.

evolving cyberattack landscape

The biannual threat report highlights ransomware as the dominant risk to small and medium-sized businesses. And while the number of new ransomware variants continues to decline, ransomware attacks’ severity remains significant. Equally concerning is the growing prominence of data stealers, who leverage stolen credentials to gain unauthorized access to sensitive information.

“The volume of threats in 2023 has surged relative to last year, a sign that criminals are scaling and enhancing how they compromise systems and execute attacks,” said Candid Wüest, Acronis VP of Research.

“To address the dynamic threat landscape, organizations need agile, comprehensive, unified security solutions that provide the necessary visibility to understand attacks, simplify context, and provide efficient remediation of any threat, whether it may be malware, system vulnerability, and everything in between,” Wüest continued.

Phishing is the primary method criminals leverage to unearth login credentials. In the first half of 2023 alone, the number of email-based phishing attacks has surged 464% when compared to 2022.

Over the same frame, there has also been a 24% increase in attacks per organization. In the first half of 2023, Acronis-monitored endpoints observed a 15% increase in the number of files and URLs per scanned email. Cybercriminals have also tapped into the burgeoning large language model (LLM)-based AI market, using platforms to create, automate, scale, and improve new attacks through active learning.

The cyberattack landscape is evolving

Cybercriminals are becoming more sophisticated in their attacks, using AI and existing ransomware code to drill deeper into victims’ systems and extract sensitive information. AI-created malware is adept at avoiding detection in traditional antivirus models and public ransomware cases have exploded relative to last year. Acronis-monitored endpoints are picking up valuable data about how…

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