Market Insights Technology Cybersecurity Cyber Solutions

Application Security - China

China

The projected revenue in the Application Security market in China is expected to reach US$1.95bn in 2024.
This represents a substantial growth in the market.
Additionally, it is estimated that the market will continue to expand at an annual growth rate (CAGR 2024-2029) of 14.09%.
This growth trajectory is expected to result in a market volume of US$3.77bn by 2029.
Furthermore, it is interesting to note that the average Spend per Employee in the Application Security market in China is projected to reach US$2.47 in 2024.
This metric indicates the level of investment made by companies in this sector to ensure the security of their applications.
When considering global comparison, it is worth mentioning that United States is anticipated to generate the highest revenue in the Application Security market.
In 2024, it is estimated that United States will generate US$3,004.0m in revenue.
This highlights the significance of the US market in this industry.
China has seen a surge in demand for application security services due to the increasing number of cyber threats targeting its booming tech industry.

Key regions: Spain, Belgium, Brazil, India, Chile

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Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.