Software composition analysis (SCA) is a software that is used to provide security from potential cyber threat. It is responsible for performing detailed software code security analysis when developing or buying any software. Enterprises can find and fix a software vulnerability to prevent being exploited for malicious purposes with help of SCA by reviewing internally developed applications before being deployed and third-party software before being purchased.
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Increasing security concerns in open source coding and growing adoption of cloud-based technologies are the major factors driving growth of the software composition analysis market. According to Coherent Market Insights’ analysis, by 2020, around 92%of the workload is expected to be processed by cloud data centers. Moreover, increasing adoption of mobile devices and internet is expected to escalate the overall market growth. For instance, according to Coherent Market Insights’ analysis, around 3.4 billion internet users were reported worldwide in 2016, and around 44% of the global population accessed internet in the same year. Majority of the global internet users were located in Asia Pacific. China was the leading country in digital marketing in the world with over 720 million internet users in 2016.
The Banking, Financial Services, and Insurance (BFSI) segment held the dominant position in 2017.
On the basis of industry vertical, the global Software Composition Analysis Market size is segmented into banking, financial services, & insurance (BFSI), government & defense, IT & telecom, healthcare, retail & E-commerce, automotive, manufacturing, and others. The BFSI segment held dominant position in the Software Composition Analysis Market in 2017 and is projected to retain its dominance throughout the forecast period. High adoption of open source software in banking, financial services and insurance sector is one of the major driving factors for growth of the segment.
Majority of the banks and financial institutions use open source software to increase operation efficiency and avoid vendors lock-in. Furthermore, government institutions are focusing on creating awareness related to use of open software. For instance, The Institute for Development & Research in Banking Technology (IDRBT), constituted by the Reserve Bank of India, is helping banks in India, to integrate affordable technologies in banking system such as open source software. Some of the application areas for open source software include, mobile banking, business intelligence, setting up of financial portals, and others.
Key Players- Global Software Composition Analysis Market.
The major players operating in the global AIops Platform industry include, WhiteSource Software, Sonatype, Inc., Synopsys, Inc., WhiteHat Security, Veracode (CA Technologies), Flexera, NexB, Inc., SourceClear, and Rogue Wave Software..
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