Projected increased regulatory boosts Computer Software Assurance Market

 

Computer Software Assurance Market

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 Overview:

Computer software assurance includes testing and auditing of software applications, systems, and platforms to ensure they operate as intended and are secured against vulnerabilities. It helps identify issues early in development and deployment cycles. With rising complexity of software systems, assurance services ensure optimal performance, stability and security.

 

Market key trends:

The growing adoption of cloud computing across various industries is driving the computer software assurance market. As more applications and data move to cloud environments, ensuring the security and reliability of cloud infrastructure and software-as-a-service models has become vital. Software assurance providers help validate that cloud platforms and third-party solutions meet performance standards and security protocols. They also audit cloud migration strategies to minimize business disruption. Additionally, the use of DevOps practices and agile development methodologies has increased the need for continuous testing and monitoring of software quality. Assurance platforms that integrate with DevOps tools allow catching issues early in development life cycles.

Segment Analysis

The global computer software assurance market is segmented by component, organization size, vertical, and region. Based on component, the market is bifurcated into services and solutions. Among these, the services segment dominates the market and is expected to record the highest CAGR over the forecast period. The services segment is further classified into professional services and managed services. Professional services segment captured the largest market share in 2023 owing to increasing demand for consultancy and training services among enterprises to ensure effective usage of software assurance solutions.

 

Based on organization size, the market is classified into small & medium enterprises and large enterprises. The large enterprises segment accounted for the largest market share in 2023 due to rising adoption of software assurance solutions to mitigate risks associated with software vulnerabilities and comply with various regulatory standards.

 

Key Takeaways

The global computer software assurance market size was valued at US$ 8.48 Bn in 2023 and is expected to reach US$ 18.52 Bn by 2030, expanding at a CAGR of 13% over the forecast period. The high growth can be attributed to increasing instances of cyberattacks targeting businesses and critical infrastructures.

 

Regional analysis - North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is owing to high awareness regarding software security in the region and stringent regulations regarding application security. Asia Pacific is projected to witness the fastest growth over the forecast period due to growing digitalization across industries and increasing need for cybersecurity solutions among enterprises in the region.

 

Key players analysis - Key players operating in the computer software assurance market are IBM Corporation, Accenture PLC, Cognizant Technology Solutions Corporation, Capgemini SE, Hewlett Packard Enterprise (HPE), Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International Cooperative, PricewaterhouseCoopers (PwC), Synopsys, Â Inc., Micro Focus International plc, Veracode (Acquired by Thoma Bravo), Trustwave Holdings, Â Inc., WhiteHat Security (Acquired by NTT Ltd.), Rapid7, Â Inc. Major players are focusing on acquisitions and partnerships to expand their product portfolio and geographic presence.

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https://www.dailyprbulletin.com/computer-software-assurance-market-size-share-growth-outlook-2023/

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