Global Upcoming Software Security Market Revenue to Reach $35.85 billion by 2023
The increasing shift toward digitization, technological advancements, and the growth of cloud and mobile technologies has accelerated the market growth. The mobile security software segment is expected to generate the highest revenue during the forecast period.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Upcoming Software Security Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2017–2023” (November 2017).
According to Infoholic Research, The mobile security software segment holds a dominant position in the market with a market share of 39.56% in 2017, due to an increase in customer data and financial information that needs to be protected and stored. It is followed by the consumer security software segment with a market share of 34.12% in 2017, due to the growing significance of app stores and online sales overall. The advancements in technology and innovations are changing the market scenario and the increasing need for cost-effectiveness, security, and improved customer services act as the driver for the market growth. There is an increasing need for the implementation of technological innovations in various industries to enable better and safe experiences. The Global Upcoming Software Security Market is expected to grow at a CAGR of 32.48% during the forecast period 2017–2023.
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The Americas is the leading region in the Global Upcoming Software Security market followed by EMEA and APAC. The market growth in APAC is expected to witness growth due to the development of smart cities, increasing Foreign Direct Investment (FDI), the need for energy-efficient technologies, the demand for increased safety and security, and the increasing penetration rate of connected devices and government initiatives. Moreover, the countries covered in report are Canada, the US, China, India, Japan, and Germany. Among these Japan, the US, and China are expected to grow at a high rate during the forecast period (2017-2023), due to an increase in the adoption of the upcoming security software in e-commerce, proliferation of connected devices, investments in data centers, and development of the ICT infrastructure.
“Currently, the Global Upcoming Software Security Market is enabling the end-users to adopt most innovative technologies, such as AI and IoT, to decrease the risk and provide greater security and safety of information for various organizations. The market will grow with the increasing number of cloud providers, third-party service providers, data center providers, and ICT infrastructure, thereby giving an opportunity to expand their business in various regions. The mobile security software market will hold a major market share in the coming 2-3 years due to the increasing penetration of the connected devices and innovations in technology.” Priyanka Yadav, Research Analyst at Infoholic Research
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The report covers the current scenario and the development prospects of the Global Upcoming Software Security Market during the forecast period 2017–2023. The report provides an in-depth analysis and forecasts about the industry covering the following key features:
- The report is analyzed based on type, end-user, applications, regions, and countries
- The report covers the evolution of features, advantages, and its importance
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2017–2023)
- The report contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape, which includes vendor assessment
- The report covers an analysis of countries such as China, India, Japan, Germany, the US, France, and Canada
Ms. Kathakali Basu
Infoholic Research LLP