NORTHPORT, N.Y. – January 23, 2017 – Code Dx, Inc., a provider of an award-winning suite of fast and affordable tools that help software developers, testers and security analysts find, prioritize and manage software vulnerabilities, today announced the 2017 Application Security Report published by Cybersecurity Ventures, a leading research and market intelligence firm. The Application Security Report, sponsored by Code Dx, discusses the rapid growth of the application security market as a result of the billions of new lines of software code being developed each year that needs protected from malicious hackers.

The report estimates that 111 billion lines of new software code is created every year, which includes billions of vulnerabilities that need identified and remediated. This growth in software development is leading to the expected growth of the application security market from $2.24 billion in 2016 to $6.77 billion in 2021 (MarketandMarkets, May 2016) – which is outpacing the growth of the cybersecurity market as a whole.  A PDF of the report can be downloaded here.

“While we anticipate 12-15 percent year-over-year growth of the cybersecurity market through 2021, our synthesis of various research has led us to expect the application sector will grow by 16-18 percent during that period,” said Steven C. Morgan, founder and editor-in-chief of Cybersecurity Ventures.

“As the amount of unsecured software code grows, it presents a larger attack surface that can be used to perpetrate high-profile attacks,” said Anita D’Amico, Ph.D., CEO for Code Dx. “It’s not at all surprising that the AppSec market is growing dramatically. Application security has been adopted throughout the entire Software Development Lifecycle (SDLC) from design to deployment. Software developers are finding security weaknesses earlier in the SDLC using security testing tools built into the DevOps process, Quality Assurance (QA) professionals are building security testing into the QA process and security teams are finding vulnerabilities in and fixing production code before attackers have the chance to exploit them. This is leading to the adoption of application vulnerability correlation and management systems, which combine all the vulnerabilities found through various means into a central place, correlate and de-duplicate them, prioritize them based on organizational risk, and track their remediation.”