Application Security - Hong Kong
Hong Kong- The Application Security market in Hong Kong is expected to achieve a revenue of US$10.75m by 2025.
- This forecast indicates a projected annual growth rate (CAGR 2025-2030) of 12.10%, leading to a market volume of US$19.03m by 2030.
- Moreover, the average Spend per Employee in the Application Security market is estimated to reach US$2.90 in 2025.
- In terms of global comparison, United States is anticipated to generate the highest revenue of US$3.6bn in 2025.
- In Hong Kong, the demand for application security services is surging due to the increasing number of cyberattacks targeting local businesses.
Definition :
The Application Security market refers to the market for security techniques or processes to protect computer applications against external security threats. It includes all tasks that monitor, manage, and fix application vulnerabilities to prevent malicious exploits and/or unauthorized access to software.
Application security is crucial for organizations when it comes to building sustainable software applications that protect against many types of cyber threats, enhancing the level of trust among users and stakeholders.
Additional information:
The Application Security market comprises revenues, revenue change, and average spend per employee. Market values represent revenues that are generated by primary vendors, either directly or through distribution channels (manufacturer prices, excluding VAT). Reported market revenues include consumer spending (B2C), business spending (B2B), and government spending (B2G). Detailed definitions of each market can be found on the corresponding market pages. Key players in the market include Broadcom, Rapid7, and Check Point Software.
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- Application security testing, such as Veracode (Broadcom), IBM Security – Application Security, and Rapid7 InsightAppSec
- Vulnerability scanning, such as Nessus Professional Feed (Tenable), Trustwave Vulnerability Management, and Qualys
- Web application firewall (WAF), such as Fortinet FortiWeb, F5 Silverline WAF, and Cloudflare WAF
- Intrusion prevention systems (IPS), such as Cisco Firepower, Trend Micro TippingPoint IPS, and Fortinet FortiGate Intrusion Prevention System
- Custom applications, such as Intellectsoft, SienceSoft, and Chetu
- Hardware security, such as Brightsight, Riscure, and Red Balloon Security
- Data security, such as IBM Guardium Data Encryption, Varonis Data Security Platform, and Sophos
- Network security, such as Palo Alto Networks, Check Point, and Juniper Networks
- Endpoint security, such as Microsoft, Symantec, and Crowdstrike
Revenue
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jun 2025
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jun 2025
Source: Statista Market Insights
Key Players
Most recent update: Dec 2024
Source: Statista Market Insights
Global Comparison
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jun 2025
Sources: Statista Market Insights, Financial Statements of Key Players, National Cyber Security Organizations
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.Technology
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Key Market Indicators
Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights
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