In a recently published report, Software Composition Analysis Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Software Composition Analysis Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Software Composition Analysis Market is valued approximately USD 228 million in 2019 and is anticipated to grow with a healthy growth rate of more than 20.9 % over the forecast period 2020-2027. Software Composition Analysis (SCA) is a software that provide security against potential cyber threats. The software is responsible for carrying out thorough security review of the software code as well as reviewing open-source material at each stage of the life cycle of software creation (SDLC). Growing consumer preference for online transactions and growing penetration of various services like Real-Time Gross Settlement Systems (RTGS), National Electronic Fund Transfer (NEFT), Electronic Clearing Service (ECS) as well as mobile transactions are key factors likely to fuel the growth of the global market for software composition analysis over the forthcoming years.
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According to Statista, it is estimated that 1,8 billion people worldwide bought goods online in 2018. The same year, global e-retail sales amounted to 2.8 trillion US dollars as well as estimates suggest an increase of up to 4.8 trillion US dollars by 2021. Transaction value in the Digital Payments section is expected to reach Us$ 4,406,431 million in 2020.
The high application of software composition analysis solutions in the FinTech sector as well as the growing demand for cloud-based software composition analysis solutions are expected to offer lucrative opportunities for the market for software composition analysis to thrive. For example, in 2016, Checkmarx Inc. entered into a strategic partnership with WhiteSource Software Ltd. to provide a comprehensive Open Source Analysis (OSA) solution to the users of Checkmarx Inc. DevOps and budgetary constraints between small and medium-sized enterprises are the restraining factors while adopting solutions and services for software composition analysis.
The regional analysis of global Software Composition Analysis market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The market in North America is anticipated to dominate the global market for software composition analysis in terms of revenue over the forecast timeframe, due to the rising adoption of software composition analysis across different organizations in different countries in the region. The market in Asia-Pacific is expected to register significant revenue growth during the forecast period, due to technological advances in the numerous countries in the region.
Major market player included in this report are:
Synopsys
Sonatype
Veracode
WhiteHat Security Inc
WhiteSource Software
Contrast Security Inc
Flexera
nexB Inc
Rogue Wave Software
SourceClear
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component
Solution
Services
Professional services
Managed services
By Organization Size
Large enterprises
Small and Medium-sized Enterprises (SMEs)
By Deployment Type
On-premises
Cloud
By Vertical
Banking, Financial Services, and Insurance (BFSI)
Telecom and IT
Healthcare
Government and defense
Retail and e-commerce
Manufacturing
Automotive
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Software Composition Analysis Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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