February 25, 2024

Computer Software Assurance Market Growth Accelerated by Increasing Need For Software Security And Assurance

Computer software assurance (CSA) helps reduce risks associated with faulty or insecure software. It involves processes and techniques designed to ensure that software works as intended and is protected against vulnerabilities that may allow attackers to gain unauthorized access. With businesses increasingly relying on software for critical operations and the risks of cyber threats rising every day, there is a growing need for incorporating security practices throughout the software development lifecycle.

The global Computer Software Assurance Market is estimated to be valued at US$ 8.48 Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing need for software security and assurance is one of the major trends fueling market growth. As dependence on software increases, so do the risks of data breaches and disruptions caused due to vulnerabilities. Cyber attacks have become more sophisticated over time. Attackers are finding newer ways to exploit loopholes in software for financial and other gains. This has heightened the need for organizations to implement robust CSA practices. Continuous monitoring and assessment of potential security weaknesses helps plug vulnerabilities at the earliest. With cyber security threats posing serious financial and reputational risks, businesses across industries are allocating increased investments towards strengthening their software assurance capabilities. Regulations like the GDPR have also spurred compliance with set security standards. The growing awareness about cyber risks and responsibility to customers is driving the CSA market higher.

Segment Analysis
The global computer software assurance (CSA) market is dominated by application security testing segment. This segment held around 30% share of the overall market in 2023. Application security testing is extensively used by organizations to check security vulnerabilities in web, mobile and desktop applications. The growing adoption of online applications across industries has increased the need for application security testing software among companies. This is the key factor contributing to the large share of this segment.

Key Takeaways
The global Computer Software Assurance Market is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 13% during this period and reach a size of over US$ 20 Bn by 2030.

Regional analysis: North America currently dominates the global CSA market with over 35% share. This is attributed to stringent privacy regulations and rising cyber threats in the region. The US holds the leading position owing to presence of major security software vendors. Asia Pacific is expected to show the fastest growth over the next few years. Rapid digitalization of industries and growing penetration of connected devices are driving the demand for CSA solutions in countries such as China, India and Japan.

Key players operating in the computer software assurance (CSA) market are IBM Corporation, WhiteHat Security, Checkmarx, Micro Focus, Veracode, Rogue Wave, CAST Software, Parasoft, Kiuwan and SourceDNA. IBM holds the leading position with robust portfolio of application security testing and governance tools. WhiteHat Security and Checkmarx are other prominent players focusing on web application protection. The market is expected to witness higher consolidation activities through mergers and acquisitions over the forecast period.