Mobile Application Security Testing (MAST) Market worth $3.2 billion by 2028, growing at a CAGR of 28.3%: Report by MarketsandMarkets™

/EIN News/ -- Chicago, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global Mobile Application Security Testing (MAST) Market is estimated to be worth USD 0.9 billion in 2023 and is projected to reach USD 3.2 billion by 2028, at a CAGR of 28.3% during the forecast period, according to a new report by MarketsandMarkets™.

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Mobile Application Security Testing (MAST) Market Dynamics:

Drivers:

• Increase in mobile app usage
• Regulatory compliance mandating secure applications
• Rapid development life cycles

Restraints:

• Resource intensiveness
• Lack of qualified professionals
• Integration challenges

Opportunities:

• Increase in awareness and adoption
• Evolving threat landscape
• Expansion of mobile ecosystem

List of Key Players in Mobile Application Security Testing (MAST) Market:

• IBM (US)
• HCLTech (India)
• OpenText (Canada)
• Synopsys (US)
• 3i Infotech (India)
• Qualys (US)
• Syhunt (Brazil)
• Checkmarx (US)
• Testhouse (UK)
• Ivanti (US)

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The continuous evolution of cyber threats and attack techniques is driving the demand for MAST solutions. As technology advances, the tactics employed by malicious actors are also getting advanced to compromise mobile applications and access sensitive information. Regular security testing allows organizations to stay ahead of emerging threats by identifying and addressing vulnerabilities before they can be exploited. This proactive approach is crucial in the dynamic and ever-changing landscape of cybersecurity. With the increasing sophistication of attacks such as malware, phishing, and code injection, organizations are prioritizing mobile application security testing to adapt and strengthen their defenses. These factors are propelling the market's growth.

The solutions segment within the MAST market occupies a paramount position. The increasing ubiquity of mobile devices, coupled with the growing complexity of cyber threats, has driven a heightened focus on mobile application security testing solutions. Mobile application security testing is the systematic evaluation of a mobile app's vulnerability to potential security threats, corresponding to the tactics a malicious actor might employ. This process is integral for businesses aiming to ensure the robustness of their apps before introducing them to the market. Effective security testing begins with a comprehensive understanding of the app's intended purpose and the nature of the data it handles. By employing a combination of static analysis, dynamic analysis, and penetration testing, businesses can obtain a holistic assessment that reveals vulnerabilities not easily identified through isolated testing methods.

During the forecast period, the projected high growth of the MAST market in the Asia Pacific region can be attributed to several key factors. As smartphones and mobile applications continue to grow exponentially across the region, businesses and organizations are becoming increasingly aware of the vulnerabilities and risks associated with mobile apps. This heightened awareness, coupled with a rise in cyber threats, has prompted a proactive approach towards securing mobile applications. Organizations in Asia-Pacific are investing in robust MAST solutions to identify and address potential vulnerabilities, ensuring the protection of sensitive user data and maintaining the integrity of their mobile ecosystems. Therefore, the MAST market in the Asia-Pacific region is experiencing significant growth, with businesses prioritizing the implementation of comprehensive security measures to stay ahead of evolving cyber threats.

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Key Market Players

The major players in the MAST market are IBM (US), HCLTech (India), OpenText (Canada), Synopsys (US), 3i Infotech (India), Qualys (US), Syhunt (Brazil), Checkmarx (US), Testhouse (UK), Ivanti (US), Digital.ai (US), Veracode (US), Onapsis (US), Snyk (US), Secure Code Warrior (Australia), eShard (France), Quokka (India), Data Theorem (US), Pradeo (France), PortSwigger (UK), ImmuniWeb (Switzerland), Contrast Security (US), Codified Security (UK), App-Ray (Austria), Entersoft Security (India), DerSecur (Israel), Fluid Attacks (US), Acunetix (US), VerSprite (US), Appknox (Singapore), and NowSecure (US).

These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. The dynamic interplay of escalating digital demands, complex application architectures, and the need for security is propelling companies to invest in and adopt MAST in an increasingly interconnected landscape. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.

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