The 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 refers to providing security to computer software. It helps in ensuring software integrity, detecting vulnerabilities, and preventing cyber threats. As organizations shift towards digital transformation, it becomes crucial to secure computer software from external and internal threats. Computer software assurance solutions help organizations evaluate and prevent security flaws in applications and infrastructure.

Market key trends:

The rising adoption of cloud-based solutions is driving the growth of computer software assurance market. As software infrastructure is increasingly moving towards the cloud, it has become important for organizations to keep the security of cloud software updated. Cloud software assurance solutions enable organizations to continuously monitor cloud applications and infrastructure for vulnerabilities. Furthermore, the increasing instances of cyber threats such as ransomware attacks and data breaches have compelled organizations to invest more in computer software assurance. Between 2019 to 2021, ransomware attacks on organizations increased by 150%, raising the need for advanced software security solutions. Additionally, the growing digitalization post-COVID-19 pandemic has further propelled the demand for computer software assurance in order to securely support remote work infrastructure and applications.

Porter’s Analysis

Threat of new entrants: The computer software industry has high barrier for new entrants due to high initial cost. Large players have already established brand image and network.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. They can easily switch to open source or low cost alternatives.

Bargaining power of suppliers: Software developers and technology providers have moderate bargaining power. Established players can leverage their expertise and network.

Threat of new substitutes: Threat from open source and low cost substitutes is high. Freemium model adopted by some players adds pressure.

Competitive rivalry: Intense competition among existing players. Large players differentiate through brand, support and customized offerings.

SWOT Analysis

Strength: Established global network, expertise in diverse domains, ability to provide end to end services.

Weakness: High reliance on niche technologies, talent crunch can delay projects.

Opportunity: Rising digital transformation, move to cloud based models. Growing spending on cyber security presents scope.

Threats: Economic slowdowns can impact budgets. Stringent regulations around data privacy and disclosure.

Key Takeaways

The global Computer Software Assurance Market is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing spending on cyber security and data protection by enterprises. North America dominates currently due to stringent norms and early adoption of digital technologies. APAC is fastest growing region driven by increase in outsourcing and growing internet penetration.

Regional analysis - North America dominates currently with over 35% market share due to stringent data privacy laws like GDPR and early move to digital modes of working. Asia Pacific computer software assurance market is fastest growing at CAGR of 15% owing to increase in outsourcing activities from developed markets and rapid internet penetration driving use of online services.

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 partnerships, M&A and product innovations to expand offerings and geographic reach.

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