[FURL=https://www.industryarc.com/Research/Software-Composition-Analysis-Market-Research-500743?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Software Composition Analysis Market[/FURL] Software Composition Analysis (SCA) market size is estimated to reach $462.8 million by 2026 at a CAGR of 12.4% during the forecast period 2021-2026 owing to the increasing dependency on open source software (OSS), growing penetration of IoT and cloud based services across various industries. SCA offers automating visibility to the OSS, in order to provide security risk management, license compliance, security and other management services against various threats including open source vulnerabilities, making it a more secure and popular solution among the enterprises. Apart from that, increasing cyber-attacks, growing adoption of financial technologies in e-commerce and BFSI sectors are few of the main drivers of Software Composition Analysis market.Key Takeaways
North America dominated the SCA market with a market share of more than 35% in 2020, early adoption of advanced technologies and growing usage of digital payment methods are the key factors, boosting the market growth.
The major driving factor behind the growth of software composition analysis market during the forecast sector 2021-2026, are rising open source vulnerabilities and growth of FinTech sector.
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Software Composition Analysis Market Segment Analysis - By Geography
North America dominated the market in 2020 owing to the early adoption for new technologies, increasing use of digital banking solutions and increasing number of cyber-threats in this region. According to a FDIC’s biennial How America Banks report 2019, more than 34% American households reported that they used mobile as their primary method of accessing their bank accounts in 2019. Apart from that, government’s strict regulatory norms, increasing online transaction for e-commerce sector and presence of key market players in region are fuelling the market growth. Furthermore, APAC is anticipated to witness fastest growth rate during the forecast period 2021-2026 owing to the growing penetration of IoT based services and increasing smart-phone penetration.
Software Composition Analysis Market Drivers
Increasing Threats of Open Source Software offers benefits of integration, an expansive array of components
Growing FinTech Sector across the World increase the SCA at a higher pace
Software Composition Analysis Market Landscape
Software Composition Analysis top 10 companies include Synopsys, Inc.,Sonatype, Inc., Veracode, Inc.,
WhiteHat Security, Inc., WhiteSource Software, Inc., Contrast Security, Inc., Black Duck Software, Inc., NexB, Inc., SourceClear, Inc., Flexera software, Inc.
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