More mobile applications are being developed and deployed each year, here we share five upcoming mobile application security trends that businesses need to prepare for in 2023.
The number of mobile applications on the market is increasing, and as the amount of available software continues to rise, so does the chance that some of those programs contain security holes and vulnerabilities that hackers could use for nefarious purposes. Considering today’s hostile digital landscape, mobile application security should not be considered an expense, but rather an investment to protect the data and privacy of customers and clients and prevent loss of money through fraud or theft. In this article, we will cover five upcoming mobile application security trends that businesses need to watch out for in 2023.
Importance of Application Security in 2023
With more mobile applications being developed and deployed each year, it’s imperative that businesses prioritize mobile application security to protect themselves against modern threats. According to experts, the application security market is set to surpass a market value of $7 Billion by 2023. This indicates a glimpse of heavy investments that businesses are anticipated to make in secure application development in the incoming years.
In fact, recent survey results found that over 73% of organizations anticipate increased AppSec investments by 2023.
Another research study found that 82% of Android devices were susceptible to at least one out of 25 vulnerabilities in the Android operating system, while 77% of mobile finance apps were found to have at least one serious vulnerability that could lead to a data breach. As the use of mobile and other IoT devices is also rising at an unprecedented rate, vulnerabilities in mobile applications pose critical threats to the security and digital well-being of both end users and businesses.
5 Application Security Trends for 2023
In recent years, countless businesses have experienced security breaches, malware, and other types of attacks targeted at business applications resulting in data loss, reputational damage, and other complications. Businesses will have to pay extra attention to application security in the incoming years to ensure maximum user security and a seamless customer experience. Read more about the latest app security trends for businesses to build safer and customer-centric applications.
1. Increased expectations
As the number of mobile applications continues to grow, the expectations for better security will also increase. As security gaps in mobile applications already on the market are uncovered, businesses will increasingly recognize the need to prioritize mobile application security. As the world prepares for 2023, businesses will have to adopt the latest security practices of DevSecOps to ensure compliance with the latest application development and security standards.
2. Higher Need for Pro-active Security
In the past year alone, more than $2 billion worth of cryptocurrency has been stolen from mobile applications. With this threat real and close at hand, businesses need to prioritize mobile application security now more than ever before. Businesses need in-built app security measures capable of detecting and preventing threats even before they happen. By taking proactive steps now to increase the safety of their own mobile apps, organizations can reduce risk as well as customer service costs.
3. Increased Application Security Risks
Mobile applications are being used more and more often by businesses, but it is becoming increasingly difficult to protect them. The number of hacking incidents against mobile apps is steadily on the rise, as cybercriminals are finding new ways to break into these platforms every day. In fact, the number of new vulnerabilities found in mobile applications has increased by 300% since 2017. As security gaps in mobile applications already on the market are uncovered, businesses will increasingly recognize the need to prioritize mobile application security in 2023.
4. Adoption of DevSecOps
Businesses are increasingly using DevSecOps practices to develop secure apps. DevSecOps is a methodology that combines traditional software development best practices with security practices to help organizations develop applications that are more secure and less likely to have vulnerabilities. For now, an estimated number of 30% businesses fully implement DevSecOps practices. However, this number is likely to increase in near future.
5. Political ramifications
With the number of mobile devices and users on the rise, more businesses are developing and releasing mobile applications. However, as research has shown, these applications are often vulnerable to attack and compromise.
Hackers use mobile apps for everything from data theft to denial-of-service attacks. Consequently, if a country’s economy relies heavily on smartphones and mobile apps, then its political stability may be at risk when there is an app security incident with far-reaching implications — like hacking into hospital records or disrupting commerce by shutting down electricity grids that rely on control systems connected via cellular networks. Therefore, application security laws and regulations are also going to become more stringent as more and more users become aware of digital threats.
Build38 offers a wide range of in-app security options
As consumers are using their mobile devices more often to conduct business and personal transactions, the security of these devices has never been more important. The need for secure mobile applications is only going to increase as businesses continue to innovate in this area, making it increasingly essential that they prioritize application security as they develop new apps.
It’s important that companies recognize the importance of mobile application security now to be in a better position to detect, prevent and mitigate current and future security risks. If you are interested in exploring security options for your app, contact us today to get a demo.