by The global Computer Software Assurance Market is estimated to be valued at US$ 8.48 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Computer software assurance aims to assess the risks and vulnerabilities in software and ensure compliance with agreed requirements. It helps identify bugs, errors, and security issues in software to deliver reliable and secure software.
Market key trends:
One of the key trends in the computer software assurance market is the rising adoption of AI and automation. AI and automation technologies are being used for software testing and vulnerability assessment. They can automate various testing activities like functional testing, load testing, security testing etc. This reduces the time and cost of testing while improving quality. AI is also helping in predictive analysis of potential bugs and vulnerabilities. The increasing digitalization and complexities in software are further driving the need for advanced assurance methods like AI-based testing.
Market key trends:
One of the key trends in the computer software assurance market is the growing adoption of DevSecOps. Developers are increasingly integrating security practices and tools into software development life cycles using a DevSecOps approach. This helps identify vulnerabilities early and ensure secure coding standards. It allows for continuous security monitoring and compliance throughout development, testing, and production. With DevSecOps, businesses can deliver secure software faster while reducing security risks.
SWOT Analysis
Strengths: Growing need to secure application programming interfaces (APIs) and cloud deployments. Regulatory compliance requirements for data privacy and cybersecurity.
Weaknesses: Lack of skilled security professionals. High costs associated with software assurance products and services.
Opportunities: Rise of open-source application security tools. Demand for managed security services.
Threats: Entry of open-source and freemium security products. Rising sophisticated cyber threats.
Key Takeaways
The global Computer Software Assurance Market is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing regulatory mandates for data security and privacy protection.
Regionally, North America is expected to dominate the computer software assurance market during the forecast period. This is attributed to stringent data protection regulations like California Consumer Protection Act (CCPA) and presence of prominent players in the US. Meanwhile, Asia Pacific is likely to exhibit the fastest growth rate owing to rising investment in digital technologies by organizations in developing countries like India and China.
Key players operating in the computer software assurance market include IBM Corporation, Accenture PLC, Cognizant Technology Solutions Corporation, Capgemini SE, Hewlett Packard Enterprise (HPE), Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International Cooperative, PricewaterhouseCoopers (PwC), Synopsys, Â Inc., Micro Focus International plc, Veracode (Acquired by Thoma Bravo), Trustwave Holdings, Â Inc., WhiteHat Security (Acquired by NTT Ltd.), Rapid7, Â Inc. The market is characterized by the presence of both global and regional players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
