“Global Software Composition Analysis Market to reach a market value of USD 952.4 Million by 2031 growing at a CAGR of 18.3%”
The Global Software Composition Analysis Market size is expected to reach $952.4 million by 2031, rising at a market growth of 18.3% CAGR during the forecast period.
Modern vehicles have advanced software systems for navigation, infotainment, autonomous driving, and vehicle-to-everything (V2X) communication. Managing and securing these systems’ various software components and open-source libraries is critical, and SCA tools provide the necessary oversight. The trend towards software-defined vehicles, where software controls various aspects of vehicle functionality, requires rigorous management of software components to ensure reliability and safety. SCA tools help maintain the integrity of these components.
Open-source components have become integral to modern software development due to their cost-effectiveness, flexibility, and community-driven innovation. Many organizations use open-source libraries, frameworks, and tools to accelerate development and reduce costs.
Additionally, SCA tools need to be capable of managing and securing components across these heterogeneous environments, ensuring comprehensive coverage and effective risk management. Therefore, the growing complexity of software environments is propelling the market’s growth.
However, hiring or training staff to handle these responsibilities can add to the overall cost burden. Training staff to effectively use and manage SCA tools can be costly. Organizations must allocate resources for training programs to ensure that their teams are proficient in using the tools and understanding the insights they provide. In conclusion, high implementation and maintenance costs hamper the market’s growth.
On the basis of deployment, the market is segmented into cloud and on-premise. In 2023, the on-premise segment attained 42% revenue share in the market. On-premise deployments allow organizations to retain complete control over their data and infrastructure.
Based on component, the market is divided into solution and services. In 2023, the solution segment garnered 68% revenue share in the software composition analysis market. Modern software applications incorporate various components, including open-source libraries and third-party modules.
The services segment is further subdivided into professional services and managed services. The professional services segment attained 65% revenue share in the market in 2023. Implementing SCA solutions can be complex, especially in large or diverse IT environments.
Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises (SMEs). The small & medium enterprises (SMEs) segment witnessed 42% revenue share in the market in 2023. Due to cost-effectiveness and access to advanced functionalities, SMEs are increasingly incorporating open-source software and third-party libraries into their applications.
By end-use, the market is divided into BFSI, IT & telecom, manufacturing, government & defense, retail & e-commerce, automotive, healthcare, and others. In 2023, the BFSI segment registered 24% revenue share in the market. Financial institutions handle highly sensitive data, including personal, financial, and transactional information.
Free Valuable Insights: Global Software Composition Analysis Market size to reach USD 952.4 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 27% revenue share in the software composition analysis market. The Asia Pacific region has witnessed a surge in cyber threats and security breaches.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 251.9 Million |
| Market size forecast in 2031 | USD 952.4 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 18.3% from 2024 to 2031 |
| Number of Pages | 325 |
| Number of Tables | 540 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, Deployment, Enterprise Size, End-use, Region |
| Country scope |
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| Companies Included | Synopsys, Inc., Sonatype, Inc., White Source Ltd. (Mend), Veracode, Inc. (Thoma Bravo), Flexera Software LLC, Contrast Security, Inc., nexB Inc., Snyk Limited, Checkmarx Ltd. and FOSSA, Inc. |
By Deployment
By Component
By Enterprise Size
By End-use
By Geography
This Market size is expected to reach $952.4 million by 2031.
Widespread adoption of open source software components are driving the Market in coming years, however, High costs of implementation and maintenance restraints the growth of the Market.
Synopsys, Inc., Sonatype, Inc., White Source Ltd. (Mend), Veracode, Inc. (Thoma Bravo), Flexera Software LLC, Contrast Security, Inc., nexB Inc., Snyk Limited, Checkmarx Ltd. and FOSSA, Inc.
The expected CAGR of this Market is 18.3% from 2024 to 2031.
The Cloud segment is leading the Market by Deployment in 2023; thereby, achieving a market value of $563.1 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $342.4 million by 2031.
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