Computer Software Assurance Market Is Estimated To Witness High Growth Owing To Growing Cyber Threats
Computer software assurance refers to the process of ensuring that software applications function as intended and are free of vulnerabilities, errors, and bugs that could be exploited by cyber threats. It involves various processes like vulnerability assessment, penetration testing, application security testing, and risk assessment. Key end-users of computer software assurance include BFSI, IT & telecom, healthcare, government, retail, and manufacturing industries. The services help organizations secure their software applications and digital platforms from growing cyber threats like malware, ransomware, and phishing attacks.
The computer software assurance market is driven by the growing number of cyber threats targeting software applications and platforms. According to reports, in 2021 alone there were over 1.5 million new malware threats detected per day. Further, ransomware attacks increased by 13% in 2021 affecting various organizations globally. This has increased the need for computer software assurance services among companies to protect their networks and customer data from such cyber threats. Additionally, the growing digitization of processes across industries has increased the usage of software applications. As more applications get deployed, the risk of vulnerabilities also increases necessitating assurance processes. Regulatory mandates like GDPR and data privacy laws also require companies to implement robust security practices to protect sensitive customer information processed via their software platforms. This is expected to further fuel demand for computer software assurance solutions over the forecast period.
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