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.
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.
Driving and Restraining Factors
Drivers
- Widespread adoption of open source software components
- Growing complexity of software environments
- Growing threat landscape and rising cybersecurity risks
Restraints
- High costs of implementation and maintenance
- Complexity of integration with existing systems
Opportunities
- Growth of cloud-native and microservices architectures
- Increased adoption of DevSecOps practices
Challenges
- Limited support for certain software components
- Challenges in licensing compliance for hybrid environments
Deployment Outlook
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.Component Outlook
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.Services Outlook
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.Enterprises Size Outlook
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.End-Use Outlook
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.Regional Outlook
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.Recent Strategies Deployed in the Market
- 2024-Jun: Checkmarx Ltd. entered a partnership with DXC Technology, an American IT company, to offer the Checkmarx One platform globally. The partnership would deliver comprehensive protection across the SDLC, reduce risk, accelerate market delivery, and customize services for customers.
- 2024-Jun: Mend.io launched MendAI, an application security tool that identifies AI-generated code and expands software composition analysis to include AI model versioning. This helps manage licensing and compliance issues as AI-generated code becomes a cybersecurity target, emphasizing the need for integrated MLOps and MLSecOps workflows to address emerging threats.
- 2024-May: Sonatype, Inc. signed an integration partnership with ServiceNow, an American software company. This integration enhances collaboration, speeds up remediation, and offers a unified vulnerability management experience, helping organizations efficiently address and mitigate security risks in open-source software.
- 2024-Apr: Synopsys, Inc. released Black Duck Supply Chain Edition, a software composition analysis tool designed to mitigate software supply chain risks. It features open-source detection, automated SBOM analysis, malware detection, and license compliance management, enabling development and security teams to identify and resolve vulnerabilities in open source, third-party, and AI-generated code.
- 2024-Mar: Synopsys, Inc. teamed up with NTT DATA, an IT company, to enhance application security through advisory and managed services. The collaboration would improve vulnerability detection, compliance, and risk management in software supply chains, supporting clients against cybersecurity threats.
List of Key Companies Profiled
- Synopsys, Inc.
- Sonatype, Inc.
- White Source Ltd. (Mend)
- Veracode, Inc. (Thoma Bravo)
- Flexera Software LLC
- Contrast Security, Inc.
- nexB Inc.
- Snyk Limited
- Checkmarx Ltd.
- FOSSA, Inc.
Market Report Segmentation
By Deployment
- Cloud
- On-Premise
By Component
- Solution
- Services
- Professional Services
- Managed Services
By Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
By End-use
- BFSI
- Government & Defense
- Healthcare
- IT & Telecom
- Automotive
- Manufacturing
- Retail & eCommerce
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Software Composition Analysis Market by Deployment
Chapter 6. Global Software Composition Analysis Market by Component
Chapter 7. Global Software Composition Analysis Market by Enterprise Size
Chapter 8. Global Software Composition Analysis Market by End-use
Chapter 9. Global Software Composition Analysis Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Synopsys, Inc.
- Sonatype, Inc.
- White Source Ltd. (Mend)
- Veracode, Inc. (Thoma Bravo)
- Flexera Software LLC
- Contrast Security, Inc.
- nexB Inc.
- Snyk Limited
- Checkmarx Ltd.
- FOSSA, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 325 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 252 Million |
| Forecasted Market Value ( USD | $ 952.4 Million |
| Compound Annual Growth Rate | 18.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
