Software composition analysis is software that is used to ensure security from possible cyber threats. The software is responsible for doing a comprehensive software code protection analysis and verifying open-source contents at every stage of software development life cycle. The companies are able to identify and resolve software weaknesses to prevent them from being manipulated with the help of software. Additionally, it helps to examine limitations of developed applications prior to its deployment and sales. Software composition analysis provides users with access to third-party code, allowing them to control software throughout the application life cycle. Software composition analysis tools provide benefits such as information helping to identify and resolve weaknesses quickly, automated checking of license risk exposure, flexibility in policy implementation in increasing alignment with business requirements and product integration supports for existing development processes.
COVID-19 Scenario Analysis:
- The COVID-19 pandemic has adversely affected the global economies. The government-imposed lockdowns which forced the various industrial sectors to adapt latest technologies to operate their business functions and to survive the global crisis. The software composition analysis market was significantly impacted by the COVID-19 pandemic and was able to grow amidst pandemic situations.
- The COVID-19 pandemic has opened up the opportunities to the market players to develop the cloud-based software which helps the industries and employees to operate business functions remotely. The cloud-based solutions have replaced the on-premises system which brings the threat to data stored in cloud systems, the software composition analysis software reduces the chance of data breach and cyberattacks and thus driving the market growth.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The rise in the adoption of latest technologies, changes in consumers preference towards online transactions and rise in e-commerce resulting to the increased implementation of transaction services are the factors driving the growth of the software composition analysis market. In addition, growing number of internet users and increasing adoption of mobile devices are fueling the growth of market. However, high implementation & maintenance costs and lack of technical expertise are the factors hampering the growth of the market. Furthermore, growing adoption of software composition analysis solutions and services across various applications in BFSI segment is likely to generate potential revenue opportunities for the market players in the software composition analysis market.
The market trends for software composition analysis market are as follows:
Solutions segment of software composition analysis to get benefit:
Software composition analysis solutions offer surveillance of software development companies, as companies are concerned with legal risks and brand exposure. The increasing demand for successfully implementing software composition analysis solutions across businesses drives the software composition analysis market growth. The software composition analysis solution ensures that the open-source codes, components, and application software do not interfere with the projects functioning and have an impact on the user experience. These solutions provide assurance for checking the open-source contents at each stage of software development life cycle.
North America is expected to dominate the market:
North American region is expected to dominate the market during the forecasted period owing to the rise in implementation of software composition analysis and technological advancements across several organizations in the region. The businesses in the region have recognized the significance of open-source software security and are inclined towards adoption of dedicated software composition analysis solutions in order to safeguard their open-source codes from cyber threats and misuse of the codes for monetary benefits. The region dominates the adoption of software composition analysis market due to the existence of major market players in the region.
Key benefits of the report:
- This study presents analytical depiction of the market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the software composition analysis market share.
- The current market is quantitatively analyzed to highlight the software composition analysis market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Questions answered in the software composition analysis market research report:
- Who are the leading market players active in software composition analysis market?
- What would be the detailed impact of COVID-19 on software composition analysis market?
- What current trends would influence the software composition analysis market in the next few years??
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Software Composition Analysis Market Report Highlights
| Aspects | Details |
 By Component |
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 By Service Type |
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 By Deployment Model |
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 By Enterprise Size |
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 By End User |
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 By Region |
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 Key Market Players | Veracode Inc., WhiteSource Software, Synopsys Inc., WhiteHat Security Inc.,, nexB Inc., Perforce Software Inc., International Business Machines Corporation, Sonatype Inc., Flexera Software LLC,, Contrast Security Inc. |
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