Software Composition Analysis Market Forecasts and Growth Opportunity By Industry Players: Synopsys, Sonatype, Veracode, WhiteHat Security, WhiteSource Software and Others.
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The Software Composition Analysis Market is expected to grow from US$ 154.0 Million in 2017 to US$ 398.4 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period. Major drivers of the software composition analysis market are dependence of commercial and IoT-based software products on open-source codes and stringent regulations.
“The Services segment is expected to grow at the highest CAGR during the forecast period”
The Services segment is expected to grow at a higher CAGR during the forecast period. The increasing need to successfully implement software composition analysis solutions across enterprises is expected to spur the demand for specialized professionals. Therefore, the services segment is expected to grow at a higher rate in the software composition analysis market.
“Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market size during the forecast period”
BFSI Companies are expanding their offerings to maintain a competitive edge, save costs, and improve the customer experience with value-added services. A BFSI enterprise’s development team is responsible for producing thousands of application builds per day. These enterprises are relying heavily on open source software technology to increase operational efficiency and avoid proprietary source code vendor lock-ins.
“North America is expected to hold the largest market size; whereas Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period”
North America is the largest regional segment of the software composition analysis market, due to the presence of a large number of players offering software composition analysis solutions. The region is expected to hold the largest market size during the forecast period, as North American organizations are early adopters of software composition analysis solutions and services. Furthermore, organizations have invested significantly in technologies pertaining to software composition analysis to gain a competitive advantage and improve the business operations.
Breakdown of primary participants’ profile:
• By Company: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-Level – 60%, D-Level – 25%, and Others – 15%
• By Region: North America – 35%, Europe – 25%, APAC – 20%, MEA – 10%, and Latin America –10%
• To profile the key players in the market and comprehensively analyze their market size and core competencies
• To analyze market opportunities for stakeholders by identifying high-growth segments of the market
• To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To define, describe, and forecast the software composition analysis industry by component (solution and services), organization size, deployment type, vertical, and region
• To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the global market
Most Popular Companies in the Software Composition Analysis Market include are Synopsys (US), Sonatype (US), Veracode (US), WhiteHat Security (US), WhiteSource Software(US), Contrast Security (US), Flexera (US), nexB (US), Rogue Wave Software (US), SourceClear (US).
Target Audience for Software Composition Analysis Market: Cybersecurity vendors, Software composition analysis solution vendors, Application security vendors, Defense organizations, Government agencies, ISVs, Consulting firms, System integrators, Value-Added Resellers (VARs), Managed Security Service Providers (MSSPs), Information Technology (IT) security agencies.
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