MARKET SNAPSHOT
The DevSecOps market will garner around US$4 billion in 2023 and is expected to grow at a CAGR of around 31% during the forecast period. Additionally, the global DevSecOps market is projected to reach approximately US$42 billion by 2035.
Market Overview
DevOps is a collection of strategies for automating interactions and operations in software development. DevSecOps is what incorporates security procedures into DevOps. Rise in security breaches is a major factor driving the growth of the DevSecOps market. For example, the number of phishing attacks in the first half of 2022 is estimated to have increased by about 49%. Security breaches almost always have highly devastating consequences for a company’s reputation and financial stability. Because many of these security breaches are due to vulnerabilities in online applications, companies are now investing in more agile development methodologies, including DevSecOps.
Key Market Trends
In August 2020, Synopsys, Inc., in a DevSecOps study titled “Modern Application Development Security,” revealed that 48% of organizations intentionally deploy vulnerable applications as a result of time pressure.
In April 2018, Qualys, Inc. announced new features for its web application security offering that automates web application scanning in DevOps.
Growth factors:
Mass Adoption of DevSecOps in Banking, Financial Services and Insurance (BFSI) The Banking, Financial Services and Insurance (BFSI) industry is the most lucrative sector for hackers and cybercriminals. Cybersecurity platform CloudSEK recorded 283 incidents in the first six months of 2022, compared to 469 in the 12 months of 2021. The banking, financial services and insurance (BFSI) sector has seen a significant increase in cyber risks and attacks in recent years. The demand for mobile and online banking increases the risk of threats and data breaches, increasing the use of DevSecOps. The need to provide digital services and solutions that enhance customer experience, along with evolving regulatory requirements, is likely to increase the demand for DevSecOps during the forecast period. Governments must provide adequate data security to protect private and sensitive information, which has significantly increased the adoption rate of DevSecOps across the BFSI sector.
In addition, factors such as rising internet penetration and growing need for high-security and high-speed application delivery are also expected to boost the overall market expansion during the forecast period. Additionally, rising cybercrime is also expected to boost the growth rate of the DevSecOps market. Rising security compliance will also have a positive impact on the market growth rate during the forecast period. As enterprises increasingly adopt cloud computing strategies, DevSecOps is an integral part of enterprise cloud strategies, ensuring that security is integrated early in the application development pipeline. The result is a reduced attack surface and the ability to scale security to meet the dynamic needs of all cloud-native applications.
Increased use of artificial intelligence (AI), machine learning (ML) and other technologies Increased use of AI leads to more organizations expecting a 25% increase in customer satisfaction by 2023. 83% of organizations make AI a top priority in their business plans. Advances in ML and AI are projected to increase global GDP by 14% by 2030. ML program budgets are most likely to increase by 25%, with banking, manufacturing and IT industries seeing the biggest budget increases this year. 33% of IT leaders are using ML to improve business analytics.
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