Certainly we can all agree that security pros are scrambling to protect enterprise applications and data from targeted application layer attacks. It makes sense inasmuch as app security’s sweet spot -- where the cyber crooks ply their trade -- resides in lucrative verticals such as banking and financial services, healthcare, retail and telecom.
Where there are security challenges, there’s a corresponding market opportunity, one that OnWire, an identity and access management specialist (IAM), is looking to capitalize on. The company has formally launch a new application security business unit centered on IBM technology. The 20-person, Raleigh, N.C.-based company has been an IBM business partner since opening its doors in 2007.
From its new app security perch, OnWire said it intends to use IBM’s Application Security on Cloud and AppScan platforms to scan and test customer applications before production and deployment. The process will include dynamic and static code analysis and automated testing, OnWire said. In addition, its app security solutions will include Mobile Analyzer and Open-Source Code Analyzer to identify vulnerable open source components and assess risk.
“OnWire’s new Application Security Business unit will provide solutions to help safeguard customer applications from these breaches, ” said John Pontious, OnWire technology VP.
App Security Market Size
Research estimates of the app security market indicate the segment’s impressive growth expectations. For example, 18-months ago, research curator Market Reports Hub gathered data that pegged the global app security market to climb to $6.7 billion by 2021, tripling 2016’s $2.24 billion, and performing at a compound annual growth rate (CAGR) of nearly 25 percent.
In a more recent assessment, market analyst MarketsandMarkets is similarly optimistic, expecting the segment to more than triple to $9 billion in 2022 from 2017’s $2.8 billion worldwide at a CAGR of 26 percent. And Grand View Research believes the global app security market will hit $10.7 billion by 2025.
Much of the activity will be in North America, the researchers agree, owing to the large number of app security vendors and stringent government and industry regulations on the deployment of IT tools for business processes.
There’s another point well worth noting about OnWire -- the outfit is a certified 8(a) business development program and Woman-Owned Small Business (WOSB). For the company’s government app security business the opportunity is set for growth, albeit slowly. In 2015, for the first time, the feds granted 5 percent of its $400 billion in contracts to WOSBs (via Forbes). To lend some perspective, the feds set that 5 percent goal some 23 years ago and by 2001 only 2.5 percent of the annual spend was slotted for WOSBs.
OnWire appears poised to make noticeable headway in its government business. In June, the company was awarded a U.S. General Services Administration (GSA) 8(a), Streamlined Technology Acquisition Resources for Services II (STARS II) Government-wide Acquisition Contract (GWAC). The 8(a) STARS II program is reserved exclusively for qualifying certified 8(a) small businesses, and has a five-year base with one five-year option. In addition, it has a $10 billion program ceiling and facilitates directed task orders up to $4 million.