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DevSecOps Market Expands as Demand for Secure Software Development Surges - Global Report 2024
DevSecOps Market Report
According to The Business Research Company's, The DevSecOps market size has grown exponentially in recent years. It will grow from $5.52 billion in 2023 to $7.07 billion in 2024 at a compound annual growth rate (CAGR) of 28%. The growth in the historic period can be attributed to rising demand for on-premises software among large enterprises, growing need for higher secure continuous application delivery, growing awareness about the benefits of DevOps and cloud solutions, mounting amount of security breaches, high adoption of IoT, AI and machine learning in manufacturing industry.
The DevSecOps market size is expected to see exponential growth in the next few years. It will grow to $19.09 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The growth in the forecast period can be attributed to growing internet penetration, rise in cybercrimes, increasing compliance on security, growing popularity of cloud-based services, growing digitization. Major trends in the forecast period include technological advancements, adoption of advanced technologies by SMEs, advancement in cloud computing, rising investment in IT advanced technologies, penetration of 5G technologies.
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Market Drivers and Trends:
The rise in cybercrime is expected to propel the growth of the DevSecOps market going forward. Cybercrime refers to criminal activities using computers, networks, and digital technologies. The growing interconnectedness of devices and systems, facilitated by the widespread use of the internet, has created more opportunities for cybercriminals to exploit vulnerabilities. DevSecOps is used to prevent cybercrimes as it integrates security practices throughout the software development lifecycle, embedding security into the DevOps process to identify and address vulnerabilities early. For instance, in September 2023, AAG, a UK-based provider of IT support services, reported that 39% of UK companies had experienced a cyberattack in 2022. Additionally, during the first half of the same year, cybercrime affected 53.35 million individuals in the United States. Therefore, the rise in cybercrime is driving the growth of the DevSecOps market.
Major companies operating in the DevSecOps market are developing advanced technologies, such as software automation solutions, to serve customers with advanced features better. Software automation solutions are business tools that replace manual processes with streamlined, automated workflows, leading to increased efficiency and accuracy. For instance, in May 2022, JFrog Ltd., a US-based provider of an end-to-end, hybrid, universal DevOps platform, launched JFrog Connect. TheJFrog Connect helps developers efficiently update, manage, monitor, and secure remote Linux and IoT devices. This platform offers comprehensive fleet visibility, monitoring and alerts for device resources, accelerated troubleshooting and remediation capabilities, and DevOps functionalities for connected devices. JFrog Connect integrates with other JFrog tools, such as artifactory and Xray, to provide an end-to-end solution for IoT edge deployment capabilities.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, Amazon Web Services Inc, Accentur*e Plc, International Business Machines Corporation, Broadcom Inc, Palo Alto Networks Inc, Synopsys Inc, Splunk Inc, Atlassian Corporation, Micro Focus International Plc, Check Point Software Technologies Ltd. , Progress Software Corporation , CyberArk Software Ltd, Qualys Inc. , Qentelli Inc, Synk Ltd, Veracode Inc, Checkmarx Ltd, Veritas Technologies LLC, Autorabit Inc, Rogue Wave Software Inc, Threat Modeler Software Inc, 4Armed Limited, Continuum Security Consultants Inc, Gitlab Inc, Aqua Security Software Ltd
DevSecOps Market 2024 Key Insights:
• The DevSecOps market size is expected to see exponential growth in the next few years. It will grow to $19.09 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%.
• DevSecOps Market Growth Driven By Escalating Cybercrime Threats
• Innovative Advancements In The DevSecOps Market
• North America was the largest region in the devsecops market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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