Software Development Security Consulting Services Market Size, Share, Growth and Industry Analysis, By Type (Web Application Development Security Consulting, Mobile Application Development Security Consulting and Others), By Application (General Consulting Services and Customized Consulting Services) Regional Forecast To 2031

Updated On: 01 April 2024

SOFTWARE DEVELOPMENT SECURITY CONSULTING SERVICES MARKET REPORT OVERVIEW 

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The global software development security consulting services market size is expected to be USD 1588.2 Million in 2022 and the market is projected to touch USD 11249 Million by 2031, exhibiting a CAGR of 24.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering; with the software development security consulting services market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Software security development is a type of software development technique known as consulting services enables programmers to create safer and more compliant software while cutting development expenses. At every level of software development, including requirements coding, analysis, testing, design, and maintenance, consulting services incorporate security issues. In order to decrease the number of software vulnerabilities and limit security flaws, ever info will implement stronger security measures at every level, from product requirements through design and release.

COVID-19 Impact: Cancellation of numerous Projects due to Countries coming close to Experiencing a Recession because of the Pandemic

The software development security consulting services industry is expanding primarily due to the effective integration of software into an enterprise's IT infrastructure, which is being driven by the growing desire for the digitalization of business operations across industries and verticals. However, the COVID-19 epidemic and the global economic slump are having a substantial impact on many companies and complicating important processes. Despite the market experiencing tremendous expansion in recent years due to digitization and technological penetration, the pandemic had brought several economies dangerously close to recession. As a result, several consulting customers postponed starting their projects, reduced their scope to cut costs, or abandoned them completely. The cancellation of numerous client projects has adversely affected suppliers' revenues and hampered the market's expansion during a short duration.

LATEST TRENDS

Introduction by IBM’s Security Consultation helped Organizations Protect Client Identities

IBM Corporation sent out cutting-edge software development security consulting services in March 2021. These services aid in protecting client identities, information, and applications delivered via cloud-based systems for organizations. Organizations were assisted in overseeing methods, controls of hybrid cloud frameworks, and cloud security processes by high level security consulting.

SOFTWARE DEVELOPMENT SECURITY CONSULTING SERVICES MARKET SEGMENTATION

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• By Type

Based on type, the market is distributed into Web Application Development Security Consulting, Mobile Application Development Security Consulting and Others

• By Application

Based on application, the market is divided into General Consulting Services and Customized Consulting Services

DRIVING FACTORS

Increasing uses of E-commerce and Cloud Computing has led to Growth in Demand for Highly Secure Cloud Storage to Store Data

The sector providing software development security consulting services is predicted to increase at the fastest rate throughout the forecast period. This market is expanding as a result of more people storing their data on cloud servers and more people using cyber-attacks to access that data. Additionally, as e-commerce, social networking, and cloud computing become more widely used, there is a growing demand for highly secure cloud storage of massive amounts of data.

Use of Security Consulting Services by Large Enterprises to Manage and Monitor Data Security

In 2020, the major enterprise market share (more than 60%) represented the largest market share. Large corporations need to manage their massive amounts of data both locally and globally. Software development security consulting services are being widely used by these businesses to manage and monitor their data security. In the business-to-business (B2B) market, the software-as-a-service (SaaS) model has also been in high demand. Here, the usage of technologies like artificial intelligence (AI) and machine learning (ML) is likely to boost automation and data-based decision making across operations. Over the coming years, these developments are anticipated to fuel the software development security consulting services market growth.

RESTRAINING FACTOR

Absence of Professionals and Specialists to Upgrade Security Solutions Prevent small Businesses from Employ Internet Security Services

The need for innovative software development security consulting services solutions is increasing dramatically as the number of internet security threats increases. The outdated network security solutions fall short in protecting businesses from modern network, cloud, and endpoint security threats. The absence of professionals and specialists in creating and upgrading security solutions is one of the main barriers. Small and medium-sized businesses are unable to employ internet security solutions and services due to the high expense of setting up and maintaining them.

SOFTWARE DEVELOPMENT SECURITY CONSULTING SERVICES MARKET REGIONAL INSIGHTS

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North America to lead the Market during the forecast period due to the Region’s Increasing Demand for Software Security Services

North America is expected to have the greatest CAGR and the largest growth rate. The increased demand for software security services across the region is driven by the increased reception of cutting edge software development security consulting services as a result of the rise in the number of breaks and cyber-attacks. The increased acceptance of online business platforms foster's market expansion in countries like the United States and Canada. The public authority is implementing cutting-edge network security protocols to give endeavors improved safety measures. To identify cybercrime and "safeguard Canadians' advanced protection, economy, and security," the Canadian government acquired strategies. Due to these factors, North America will dominate the software development security consulting services market share throughout the anticipated timeframe.

KEY INDUSTRY PLAYERS

Vendors of this Market are Focusing on providing Cutting-Edge Solutions to Businesses this helps them stay ahead in the Market

The industry is extremely competitive, with several software development security consulting services market participants serving various industries. Potential entrants are generally discouraged from entering the software development security consulting services industry by the existence of established firms. However, it is anticipated that the market's growing development of distinctive software consulting services and solutions would present growth prospects for new entrants. Vendors in the market are concentrating on supplying cutting-edge solutions to support technological transformation, guarantee adequate cyber security to protect sensitive data, optimize organizational operations, integrate AI with business operations, produce superior business results, and enable proactive remote monitoring. They are also helping businesses survive in the digital age by providing them with a variety of other services.

List of Market Players Profiled

• IBM (U.S.)
• Microsoft (U.S.)
• Veracode (U.S.)
• Synopsys (U.S.)
• Datacom (New Zealand)
• Kanda (Japan)
• Optiv (U.S.)
• Positive Technologies (Russia)
• MSys Technologies (India)
• Denim Group (U.S.)
• Security Innovation (U.S.)
• NCC (India)
• Infopulse (Ukraine)
• Trianz (U.S.)
• RSM (U.K.)

REPORT COVERAGE

This report covers the software development security consulting services market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.