In a recent published report, Kenneth Research has updated the market report for Software Security Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Software Security Market products.
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The growth of the market can be attributed to the growing accessibility to internet amongst the households globally and the need for advanced technologies that promote effective communication between two distant geographies. In the United States, internet access to households grew from around 73% of the households in 2015 to close to 80% of the households in 2019. In Korea, it was around 98% in 2014 which grew to nearly 100% in 2020. On the other hand, in the Netherlands, internet access to households touched nearly 98% in 2019. Countries in the Latin America, such as Brazil and Mexico grew at a significant pace by about 1.45x and 1.63x respectively within a span of 4 years between 2015 and 2019.
The Upcoming Software Security Market is likely to obtain substantial incremental $ opportunity between 2016 and 2022 as per the recent market study conducted by Kenneth Research. This Upcoming Software Security Market market strategic report has been produced emphasizing upon various growth factors contributing towards the growth of this market. This market study speaks about the relation between in-dependent variable such as the market and as well as the dependent variables which include the core macro-economic indicators such as population, GDP, personal disposable income and others. The business intelligence report also covers the challenges which may impact the growth of this market in the long-run. Several prevailing trends have been analysed in this report which have strengthened the growth of the market all across the globe.
Security software comprises a group of security products. The scope primarily includes several areas like data protection, compliance, architecture, e-mail security, web security, governance, data loss prevention, security information and event management, and identity and access. In addition, the security software solution provides various features that include encryption, endpoint monitoring, identity and access management, intrusion detection, vulnerability scanning, and application and messaging security. Security software are gaining more traction among large enterprises because they help protect business-critical information from unauthorized access and data theft. Security software enable organizations to keep their computer systems protected from various threats such as malware, worms, and other potential threats.
With the increasing demand for the integrated security group, the market is witnessing high growth rate during the forecast period. End-users primarily prefer those vendors that provide integrated and converged security suites, as against opting for different security suites that may lead to integration issues. Therefore, there is a high adoption of solutions with better integration.
Market Analysis:
According to Research, the Global Upcoming Software Security Market is expected to reach 35.85 billion by 2023, growing at a CAGR of around 32.48% during the forecast period. The ubiquity of the Internet and the constant need for employees to be online are contributing to the increased vulnerability to cyberattacks, as is the fact that ever-more physical items are connected to IoT. Another factor driving the demand for AI-based security solutions is the shortage of cybersecurity professionals. In the US, there is a shortage of more than 200,000 cybersecurity professionals. In addition, with an increase in rapid technology changes and the high adoption rate of BYOD has fueled the growth of the market during the forecast period.
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Market Segmentation Analysis:
The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections and assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendors presentations. Thus, the research report serves every side of the market and is segmented based on regional markets, type, applications, and end-users.
Countries and Vertical Analysis:
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. The key and the prominent vendors covered in the report include Cisco Systems, CA Technologies, Check Point Software Technologies, IBM, Microsoft, and Salesforce.com. Most of the major players are in the American region. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The counties covered in report are the US, Canada, Mexico, the UK, France, Germany, India, China, and, Japan. Among these, Japan, the US, and China are expected to grow at a high rate during the forecast period (2017-2023) owing to an increase in the penetration rate of connected devices and growing mobile software security segment.
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Competitive Analysis
The report covers and analyses the Global Upcoming Software Security Market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. In addition, as customers are in search for better solutions, there is expected to be a rising number of partnerships. There is likely to be an increase in the number of mergers, acquisitions, and strategic partnership during the forecast period.
The report includes the complete insight of the industry, and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.
In 2017, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2017 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Upcoming Software Security Market market over the period 2019-2026.
The Upcoming Software Security Market market report also focuses on the analysis on the basis of geography which includes North America (U.S. and Canada), Latin America (Mexico, Brazil, Argentina, Rest of Latin America), Europe (Germany, UK, France, Spain, Italy, NORDIC, BENELUX, Poland, Russia, Hungary, Rest of Europe), Asia Pacific (China, Japan, India, Australia, New Zealand, South Korea, Malaysia, Indonesia, Rest of Asia Pacific) and Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East and Africa).
In U.S., the GDP per capita was valued at USD 62,606 in 2017 as compared to USD 59,895 marked in 2017, observed a growth of 4.53% in 2017 over previous year. Rise in GDP per capita has intensified the growth of this market in the country.
The key offerings in the report:
- Evaluating the market size of the global Upcoming Software Security Market market as well as the market forecast.
- Analysing various market segmentations as well as forecasting the market on the basis of geography which includes North America, Latin America, Europe, Asia Pacific and Middle East and Africa
- Highlighting the factors impacting the growth of the market which includes growth drivers, challenges, opportunities as well as trends
- Examining competitive landscape of the leading companies on the basis of overview of the company, business strategy, product overview, risk analysis, recent developments and SWOT analysis.
Various statistical methods such as Covariance, Correlation, Regression and Coefficient of Determination (R square) analysis have been utilized to assess the market performance and analyse the future outlook of the market.
This market study is definitely going to be useful and can be utilized as a valuable source of assistance for the investors, manufacturers related to the product, suppliers, distributors, investment banks, management consulting companies, regulatory and government bodies, research organizations, and forums.
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