Appknox sets ambitious growth plans for 2025, expanding in the GCC, enhancing regulatory compliance, and leading AI-driven mobile security solutions.
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| The cybersecurity industry is growing at 20% annually, and Appknox is targeting a 2.5X expansion in 2025 with a strong focus on the GCC region. Image: ChicHue |
Singapore — February 8, 2025:
The cybersecurity industry is experiencing rapid growth, particularly in the application security segment, which is expected to expand at a compound annual growth rate of 20%. This surge is being driven by evolving cyber threats and increasingly stringent regulatory requirements.
Appknox, a Singapore-based leader in mobile application security, is positioning itself to capitalize on this trend. The company, founded in 2014, has set an ambitious goal of achieving 2.5X growth in 2025 while maintaining a Net Retention Revenue (NRR) of 120%. According to CEO Subho Halder, the GCC region is a top priority for Appknox, currently contributing to one-third of its total revenue.
To accelerate its expansion, Appknox is focusing on five key strategic areas. First, regulatory compliance remains a major emphasis, with the company already meeting SAMA, TDRA, and Department of Health (DoH) guidelines. It is also actively working to obtain additional certifications, such as OCERT, across GCC countries to further enhance trust and adoption. Second, the company is investing heavily in data sovereignty by strengthening its local cloud hosting capabilities. It has already partnered with Oracle in Saudi Arabia and is in discussions with Microsoft Azure to ensure that data remains within regional boundaries.
In addition to compliance and data security, Appknox is deepening its collaboration with government entities and large enterprises, helping them address the growing need for mobile security as they undergo digital transformation. Strengthening regional partnerships is also a key focus, as the company seeks to expand its network of System Integrators, Managed Security Service Providers, and resellers to offer customized security solutions. Finally, Appknox is committed to building a stronger local presence by expanding its on-ground team in the GCC, reinforcing its long-term commitment to the region.
Halder emphasized that these initiatives will help solidify Appknox’s leadership in the Middle East cybersecurity market. The company currently serves over 500 global enterprise customers and has developed more than 200 comprehensive test cases. It recently launched Storeknox, a groundbreaking solution designed to protect organizations from security threats originating from app stores. Additionally, with the rise of AI-driven cyber risks, Appknox is pioneering AI-led vulnerability testing, integrating machine learning models into security assessments to detect risks more effectively.
With a strong presence in highly regulated sectors such as banking, finance, telecommunications, e-commerce, healthcare, and government, Appknox has built partnerships with over 100 global organizations, including more than 50 regional partners in the GCC. Given the partner-driven nature of the GCC market, the company collaborates closely with System Integrators, Managed Security Service Providers, and resellers across the UAE, Saudi Arabia, Kuwait, Bahrain, and Oman. To streamline these partnerships, Appknox has teamed up with BULWARK, its distributor for the UAE and KSA, helping it scale operations and meet growing customer demand.
By focusing on these strategic areas, Appknox is poised to drive continued growth and reinforce its position as a market leader in mobile application security.