DevSecOps is the process of integrating security practices into the DevOps process to enhance the security standards of applications that are built for the deployment process. The presence of many prominent DevSecOps solution and service vendors has made the market very competitive. Many emerging players who provide niche and differentiated offerings for specific target audience have come to the forefront.
The global DevSecOps market size is expected to grow from USD 1.5 billion in 2018 to USD 5.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 31.2% during the forecast period.
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The services segment is expected to grow at a higher CAGR during the forecast period. DevSecOps services are gaining huge traction due to the benefits they offer. One of the benefits is the ability to effectively utilize the available resources for achieving improved security and application delivery in organizations. DevSecOps services have been further categorized into professional services and managed services. Professional services help consult, integrate, and support organizations across various industries in effectively dealing with threats, thereby ensuring visibility and security across all business functions. Whereas, managed services include third-party service providers to manage the pre- and post-production environments for DevSecOps practices.
The cloud-based deployment segment is expected to grow at a higher CAGR during the forecast period. Cloud-based DevSecOps solutions offer many advantages, such as consistent application experience and scalability, to keep the costs low and maximize the organization’s revenue. Moreover, many end-users have started shifting their choices from the cloud-based deployments to on-premises-based deployment, and this transition is expected to fuel the growth of the DevSecOps market.
Retail and consumer goods is one of the fastest-growing verticals, due to the rising number of eCommerce enterprises across the globe. This vertical focuses mainly on enhancing its customer experience and delivering customer satisfaction. These focal points are bringing about IT transformation initiatives among retailers and consumer goods dealers. Additionally, with the proliferation of the online market, retailers are adopting innovative technologies, such as cloud computing, big data analytics, digital stores, and social media networks. DevSecOps solutions and services offer retailers with the opportunity to align their application security processes with cloud-native application development and deployment processes to achieve a much more security-minded business culture.
Asia Pacific (APAC) is expected to grow at the highest CAGR in the global DevSecOps market during the forecast period, owing to the large-scale adoption of DevSecOps solutions by Small and Medium-sized Enterprises (SMEs) in the region. With the increasing adoption of cloud technologies and the rising IT demands for business functions, the adoption of secure software development and deployment tools is expected to increase rapidly during the forecast year. Due to the huge customer potential of this region, organizations around the globe want to set their footprint here. Such factors prove to be beneficial for the adoption rate of DevSecOps solutions and services. Moreover, these factors would also be beneficial to enterprises; they can enjoy the benefits of shorter development life cycles, improved operational efficiency, enhanced automation, and reduced costs. The major countries that are set to witness high growth rates in this region include China, Japan, and Australia.
