APPLICATION SECURITY MARKET ANALYSIS

Market Concentration and Competitive Landscape

Growing Importance of Brand and Customer Trust

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As digital interactions become the primary way customers engage with brands, the importance of establishing trust has taken on a new dimension. Even a single high-profile breach can cause reputational damage that takes years to repair and results in long term customer erosion. In an increasingly regulated environment, businesses are also legally obligated to safeguard any personal data they store and process of both customers and employees. Fines for non-compliance to privacy laws have been rising sharply, acting as a further tax on those unable to demonstrate robust security measures.

Application vulnerabilities have emerged as a major factor contributing to data breaches in recent years. Frequently targeted software like web platforms and mobile apps require stringent testing and monitoring to identify flaws before they can be exploited. There is therefore a pressing need for organizations to assure customers and stakeholders of the security of their digital systems and services. Adopting a application security program and selecting tools that follow best practices has become vital for protecting brands and preventing costly litigation.

For instance, in October 2022, Oracle announced Oracle Database 23c Beta, focusing on application and development simplification, while also emphasizing performance, security, and reliability.