by 
Computer software assurance refers to practices, methods and processes required to ensure that software components and entire applications function as intended and are free of vulnerabilities, errors, and bugs. It includes security practices implemented during software development and maintenance life cycle like secure coding standards, vulnerability assessment and penetration testing. With growing digitalization trends worldwide, software applications are being deployed across various industries like banking, healthcare, manufacturing and more. This widespread use of software has increased the risks of cyber threats exponentially. Any vulnerabilities in software can be exploited by hackers to steal sensitive data or disrupt critical systems. To mitigate such risks, organizations are investing heavily in computer software assurance activities to build robust and secure applications.
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 Dynamics:
The growing needs for cybersecurity across enterprises is driving the demand for computer software assurance activities globally. As mentioned in the heading, widespread deployment of software applications has increased the threats of cyber attacks manifold. Even a single vulnerability can compromise massive amounts of sensitive data and disrupt critical infrastructure. This has compelled organizations to focus on cybersecurity and ensure their in-house and third party software components are free of bugs and security issues. Moreover, stringent government regulations around data privacy and security are also propelling the CSA market growth. For instance, regulations like EU’s General Data Protection Regulation (GDPR) mandate organizations to implement robust security practices to safeguard consumer privacy. Non-compliance can result in heavy penalties. Additionally, increasing instances of sophisticated cyber attacks on critical infrastructure and industries like utilities, healthcare are encouraging private firms to strengthen software defenses through CSA solutions. This is anticipated to drive the demand for CSA over the forecast period.
Segment Analysis
The computer software assurance (CSA) market can be divided into five key segments – security testing/validation tools, security scanners, threat and vulnerability management tools, code analyzers and management tools. Security testing/validation tools segment currently dominates the market and accounts for over 30% of the total market share. This is because application and software testing and validation plays a crucial role in identifying security flaws and vulnerabilities in software codes to prevent cyber attacks at a later stage.
PEST Analysis
Political: Governments across major economies have implemented stringent data privacy and cyber security laws like GDPR and CCPA which has increased compliance requirements for organizations, driving demand for CSA tools.
Economic: The global economic slowdown amid COVID-19 pandemic has pushed organizations to reduce CapEx budgets however, spending on cyber security has remained resilient to support remote working infrastructure.
Social: Growing digitization and use of personal devices for both personal and professional tasks has increased the attack surface for cyber criminals, raising awareness about security assurance.
Technological: Emergence of new technologies like cloud, IoT and mobile applications has introduced new vulnerabilities that need to be addressed at the development stage requiring more robust CSA solutions.
Key Takeaways
The global Computer Software Assurance Market is expected to witness high growth over the forecast period led by increasing spending on application security by organizations.
Regional analysis: The North America region holds over 35% share of the global CSA market led by the US. This is due to stringent compliance mandates from regulations like FCCPA and high budget allocation for cyber security solutions by organizations across industries in the US. The Asia Pacific region is expected to witness fastest growth during the forecast period due to increasing localization of regulations and rapidly expanding IT sector and digital economy in major countries like India and China.
Key players operating in the computer software assurance market are IBM Corporation, WhiteHat Security, Veracode, Synopsys, and Contrast Security. IBM is one of the leading players offering a comprehensive suite of application security testing and software assurance solutions. WhiteHat Security focuses on web applications security with its flagship Dynamic Application Security Testing (DAST) solution. Veracode focuses on both static and dynamic application security testing.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
