Global Software Supply Chain Security Market is Expected to Reach USD 3,998.4 Million by 2031.

According to a recent market study published by Growth Market Reports, titled, “Global Software Supply Chain Security Market by Product Type, by Touch Type, by Display Size, by Operating System, by Casing Material, by Input Type, by Application, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 1,346.7 Million in 2022 and is expected to grow at a moderate growth rate of 13.4% by the year 2031.

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As per Growth Market Reports industry analyst Divjot Singh, “Global Software Supply Chain Security Market is anticipated to witness significant growth during the forecast period 2023-2031. Several critical factors are driving the growth of the software supply chain security market. The complexity and interconnected nature of software supply chains creates an ideal environment for attackers to exploit vulnerabilities, emphasising the importance of strong security measures. The widespread adoption of open source software, which is distinguished by decentralised oversight and maintenance, exposes systems to increased security risks. At the same time, the increasing sophistication and specificity of cyberattacks pose challenges in detecting and preventing such threats. Governments around the world are increasing regulatory scrutiny on software supply chain security, recognising the increasing risks associated with these attacks. As a result, the market is adapting to the need to fortify defences against an ever-changing and pervasive cyber threat landscape.

The increasing complexity and interconnectivity of modern software supply chains is driving the growth of the software supply chain security market. The attack surface expands as a result of a plethora of components, dependencies, and global collaborations, providing cybercriminals with multiple entry points to exploit vulnerabilities. The prevalence of outsourcing, continuous integration practises, and the rapid pace of development make securing the entire supply chain even more difficult. Supply chain attacks that target trusted vendors or inject malicious code highlight the need for increased security. The lack of comprehensive visibility and oversight in these intricate supply chains makes detecting and mitigating potential threats even more difficult. In response to these complexities, organizations are increasingly recognizing the value of robust security protocols, risk assessments, and incident response plans.

The primary, as well as secondary research methodology, is used for keen observation and study about the software supply chain security market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 has significant impact on the software supply chain security market in 2020. Disruptions in supply chains in the early months of the pandemic led to shortages and price increases. A decline in demand for Software Supply Chain Security was registered due to the logistics challenges, factories were shut down, and also shortages of labors.

Key Takeaways from the Study:

The global software supply chain security market is divided into solutions and services based on component. The solution segment, which is expected to command a significant market share throughout the forecast period, is also expected to exhibit the highest Compound Annual Growth Rate (CAGR) in comparison to the services segment.

The software supply chain security market is divided into two deployment models: on-premises and cloud-based. On-premises deployment is expected to maintain a significant market share throughout the forecast period, while cloud-based deployment is expected to experience significant growth with a notable Compound Annual Growth Rate (CAGR).

The global software supply chain security market is divided into two segments based on enterprise size: Small and Medium Enterprises (SMEs) and Large Enterprises. The large enterprises segment is expected to grow significantly over the forecast period, commanding a significant market share. SMEs, on the other hand, are expected to have the highest Compound Annual Growth Rate (CAGR) during the forecast period.

North America claimed the top market share for software supply chain security solutions in 2022, a position it is expected to maintain in the near future. Europe closely followed, securing the second-largest market share in 2022, with further growth expected in the coming years. Asia-Pacific is the fastest-growing market for these solutions, with projections indicating that the region will hold a sizable share of the global market by 2031.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, raw material suppliers, and distributors

• Demand Side: Manufacturing facilities and Transportation & Logistics