Software Composition Analysis Market to Witness a CAGR of 15.7% Between 2021-2025 | Sonatype, Inc., Synopsys, Inc., WhiteHat Security, Veracode

United States/New Jersey: The global Software Composition Analysis Market generated revenue of US$ 194.7 million in 2017. The global Software Composition Analysis Market is expected to generate a revenue of US$ 582.9 million with a CAGR of 15.7% by 2025.

The software composition analysis is a group of techniques used to evaluate and improve the effectiveness of software products, such as those that are designed for use in finance or computer science. These include methods like technical analysis, software modeling, or software verification. Software composition analysis is also sometimes referred to as software engineering, owing to the significant involvement of software professionals in the process. A strong software composition process can help ensure that a product is developed, tested, and maintained using the most appropriate software in the most relevant situations.

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Growing risk to open-source codes and reliance on commercial and IoT-based software services on open-source codes is a prime factor driving the growth of the software composition analysis. Moreover, expansion of e-commerce has resulted in the rise in the adoption of various services such as Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT), and mobile transactions is again fostering the growth of the software composition analysis market. According to the India Brand Equity Foundation, Indian e-commerce is projected to increase from 4% of the total food and grocery, apparel, and consumer electronics retail trade in 2020 to 8% by 2025. As of August 2020, the number of internet connections in India significantly increased to ~760 million, driven by the ‘Digital India’ programme.

Major Key players in this Market:

WhiteSource Software, Sonatype, Inc., Synopsys, Inc., WhiteHat Security, Veracode (CA Technologies), Flexera, NexB, Inc., SourceClear, and Rogue Wave Software..

Key Player Strategies

The major companies are currently adapting new ways or solutions to grow the present technology or technique as the global Out of Software Composition Analysis Market thrives. This will gradually evolve the Software Composition Analysis Market's items, and customers will reap the benefits. As a result, this will have a direct influence on the global Out of Software Composition Analysis industry's market size. The worldwide Software Composition Analysis Market's application segmentation reveals that it is extensively utilised by a variety of industries throughout the world. These industries utilise the items to get positive results in their homes or businesses. There isn't a single thing on the market that hasn't been divided into categories. Unique item types have a different significance that aims to suit the needs of the buyers.

Regional Classification

The primary regions covered in the study report include North America, Europe, Asia Pacific, Central and South America, as well as the Middle East and Africa. The specialists who worked on this area of the study looked at a variety of industries that are driving development and might give manufacturers with profitable expansion prospects in the future years. The study also contains sales and revenue prediction data by region and nation for the years 2021-2027.

North America is projected to gain significant growth over the forecast period and this is attributed to the strong presence of the IT &software industry in the region. According to CompTIA, there is more than 525,000 software and IT services companies in the United States around 40,500 tech startups were established in 2018 alone). Also, the rapid adoption of such advanced technology in the region is again fostering the growth of the software composition analysis market.

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Key Developments:

In May 2018, WhiteSource, the provider of open source security and license compliance management announced the launch of its next-generation Software Composition Analysis solutions - Effective Usage Analysis

In June 2020, Checkmarx announced the launch of Checkmarx SCA (CxSCA), the company’s new, SaaS-based software composition analysis solution

In August 2019, - Veracode, a provider of application security testing (AST) announced its new Veracode Software Composition Analysis (SCA), to offers both vulnerable methods detection technology as well as machine learning models to identify vulnerabilities that have been fixed by open source projects but not disclosed to the National Vulnerability Database (NVD).

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