VDC estimates over 35% of spending on embedded static analysis solutions in 2014 were associated with security vulnerabilities.
Natick, MA (PRWEB) January 28, 2016
The worldwide market for static analysis test tools addressing software security will grow from $102M in 2014 to $220M in 2018, a compound annual growth rate of 21.2%, according to a new report by VDC Research (click here for more info). Several market and technology trends are catalyzing adoption of solutions to mitigate current vulnerabilities in enterprise system and embedded device software code bases. By 2018, about 50% of the static analysis revenue in embedded and over 70% in enterprise/IT will be related to the identification of mitigation of security vulnerabilities.
“Faulty software code can result in development cost and time overruns, catastrophic product failure, serious brand damage, and even loss of life in safety-critical applications,” says André Girard, Senior Analyst of IoT & Embedded Technology at VDC Research. “In the face of these challenges, the need to automate security and quality assurance through the use of formal tooling in software development is evermore clear.”
Trends that are helping bring software security concerns to the forefront and drive investment in security include: increased use of third party developed and open-source software, reuse of legacy code, ubiquity of IoT connectivity, tight time-to-market demands, publicized cyber-security failures, rising device intelligence, and interest applying analytics.
Several leading suppliers targeting enterprise/IT customers, such as Veracode and Checkmarx, focus exclusively on security detection and remediation. These companies have been effective in educating potential customers of the criticality of utilizing automated testing to address vulnerabilities in their software. Growing awareness of the potential impact of software vulnerabilities will continue to motivate further action and investment.
About VDC Research:
VDC Research is a leading technology market analyst firm covering the connected world. Founded in 1971, the firm provides market intelligence to the world's leading technology vendors, who rely on VDC analysts for winning market strategies and technology adoption decisions. With unmatched domain expertise and rigorous primary research methodologies, VDC enables clients to find new opportunities for growth and make critical decisions with confidence. Based on a unique blend of quantitative and qualitative analysis that offer granularity and breadth of coverage, VDC is organized around five practice areas, each with its own focused area of coverage. For more information, visit http://www.vdcresearch.com.