Software Bill of Materials (SBOM) Market Size to Reach USD 8,049.3 Million in 2032
The global Software Bill of Materials (SBOM) market size reached USD 1,052.4 Million in 2024 and is expected to register a revenue CAGR of 29.3% during the forecast period
January 30, 2025 – Increasing expansion of cloud-based solutions is the key factor driving market revenue growth. 250 ZB of data is expected to be stored in the cloud by 2025, with 70% of the world’s corporate data residing in cloud environments. The market is close to an annual turnover of USD 200 billion in revenue from cloud infrastructure services. Today, 95% of large enterprises operate on multi-cloud infrastructures. It highlights the increasing complexity of cloud ecosystems. The widespread reliance on cloud-based solutions has amplified the complexity and scale of software supply chains, requiring robust tools to manage and secure them. Cloud-based SBOM platforms deliver real-time visibility, scalability, and seamless integration across diverse environments which has increased its adoption in recent days and boosted revenue growth of the market.
Cloud-based SBOM solutions provide scalability, real-time updates, and seamless integration across diverse software environments. They are addressing the growing complexity of modern software ecosystems. In June 2024, RapidFort, a leading cybersecurity innovator, introduced its cutting-edge Software Bill of Materials (SBOM) Warehouse feature, marking a significant advancement in Software Attack Surface Management (SASM). This groundbreaking platform functionality offers a centralized repository for SBOMs across an organization’s containers, aligning seamlessly with recommendations from the National Institute of Standards and Technology (NIST).
However, the lack of necessary resources is a significant factor restraining revenue growth in the Software Bill of Materials (SBOM) market. Many organizations face challenges in allocating sufficient financial, technical, and human resources to implement and maintain SBOM solutions effectively. Limited budgets, especially for small and medium-sized enterprises (SMEs), restrict their ability to invest in advanced SBOM tools. Additionally, the shortage of skilled professionals with expertise in software supply chain security and SBOM management further hampers adoption and limits revenue growth of the market.
Key Highlights:
- Security and vulnerability management segment is expected to register a significant revenue growth rate over the forecast period due to the rising need for organizations to address software supply chain risks and comply with stringent regulatory standards. The organizations face increased exposure to vulnerabilities and potential cyberattacks because of the growing reliance on third-party software components and open-source libraries. In addition, the rising frequency of cyber incidents, and data breaches is expected to drive revenue growth of this segment.
- Large enterprises segment accounted for the largest revenue share in 2024. These organizations operate in highly regulated industries, such as finance, healthcare, and manufacturing, where compliance with standards like NIST and ISO is critical. The increasing reliance on third-party software components and open-source code has made software supply chain security a top priority for large enterprises. Furthermore, the financial capacity of large enterprises enables them to invest in advanced SBOM tools which is contributing to the revenue growth of this segment.
- North America accounted for largest revenue share in 2024 in the global Software Bill of Materials (SBOM) market due to the advanced technological infrastructure, high cybersecurity awareness, and stringent regulatory environment in the region, especially in U.S. and Canada. Governments and regulatory bodies, such as the U.S. Cybersecurity and Infrastructure Security Agency (CISA), are mandating the use of SBOMs to enhance software supply chain security and mitigate vulnerabilities, which is expected to boost revenue growth of the market in this region.
- Some major companies in the global market report include Microsoft Corporation, Black Duck Software, Quirk Software Inc., Sonatype, Jfrog, Anchore, Mend.io, Finite State, Inc., IBM, CycloneDX, Snyk, and Palo Alto Networks.
- On 10 November 2023, U.S.-based Software company Sonatype introduced SBOM Manager, an industry-first solution that offers an integrated approach to managing SBOMs from third-party vendors. Powered by Sonatype’s exclusive data and security research, this solution enables comprehensive optimization of SBOM management. Sonatype establishes a new benchmark for compliance, scalability, and cybersecurity with this innovation.
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Navistrat Analytics has segmented global Software Bill of Materials (SBOM) market on the basis of component, deployment, use case, organization size, end-use, and region:
- Component Outlook (Revenue, USD Million; 2022-2032)
- Tools
- SBOM Generators
- SBOM Analyzers
- SBOM Integration Tools
- Others
- Services
- Consulting Services
- Implementation Services
- Maintenance and Support
- Tools
- Deployment Outlook (Revenue, USD Million; 2022-2032)
- On-Premises
- Cloud-Based
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Use Case (Revenue, USD Million; 2022-2032)
- Data Visibility and Governance
- Security and Vulnerability Management
- Licensing Compliance
- Risk Management
- Transparency and Reporting
- Others
- Organization Size (Revenue, USD Million; 2022-2032)
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
- End-Use Outlook (Revenue, USD Million; 2022-2032)
- Information technology (IT)
- Healthcare
- Automotive
- Banking, Financial Services, and Insurance (BFSI)
- Government and Defense
- Energy and Utilities
- Telecommunications
- Media and Entertainment
- Others
- Regional Outlook (Revenue, USD Million; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Nordic Countries
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Oceania
- ASEAN Countries
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Israel
- Turkey
- Rest of MEA
- North America