Software Bill of Materials (SBOM) Market size was valued at USD 1.5 Billion in 2022 and is projected to reach USD 5.4 Billion by 2030, growing at a CAGR of 22.1% from 2024 to 2030.
The Software Bill of Materials (SBOM) market is gaining significant traction across a range of industries due to the growing need for transparency in software supply chains, particularly in relation to security, compliance, and risk management. SBOM is a detailed list of all components, including open-source and proprietary software, used to build an application or system. As cybersecurity threats and regulatory requirements become more stringent, SBOM provides organizations with a structured way to assess, track, and manage the various software elements they incorporate into their products and services. The adoption of SBOMs is increasingly seen as a key measure for enhancing security postures, improving software lifecycle management, and ensuring compliance with industry standards.
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The market for SBOM is expected to grow rapidly as more organizations embrace software transparency, aiming to safeguard their products against vulnerabilities and ensure proper risk management. Each industry vertical is leveraging SBOMs to meet specific regulatory guidelines, mitigate risks, and enhance operational efficiencies. The key applications of SBOM span across healthcare, manufacturing, transportation, retail, financial services, and aerospace & defense sectors, each with its unique needs and use cases for software transparency and supply chain management. In the following sections, we delve deeper into each of these verticals, examining their specific applications of SBOM and the unique benefits they offer to each sector.
In the healthcare industry, SBOMs play a crucial role in ensuring the integrity and security of medical software applications and devices. With the growing reliance on software in critical healthcare systems, such as electronic health records (EHR), patient monitoring systems, and medical devices, healthcare organizations are increasingly looking to SBOMs to track and manage the software components they rely on. By providing visibility into the underlying software components, SBOMs help organizations identify vulnerabilities that could potentially jeopardize patient safety or violate regulatory standards. This is particularly vital in a sector governed by stringent regulations like HIPAA in the U.S., which mandates robust security and privacy measures for patient data.
Furthermore, SBOMs enable healthcare providers to ensure compliance with evolving cybersecurity standards and government regulations. With cyberattacks on the rise, such as ransomware targeting hospitals and health systems, SBOMs allow healthcare organizations to quickly assess the risks posed by third-party software and rapidly respond to threats. They also help in tracking software components across various devices and platforms, providing a unified view of the organization's software ecosystem. This contributes not only to risk mitigation but also to better incident response and operational resilience in the healthcare sector.
In the manufacturing sector, SBOMs are becoming an essential tool to manage the software that powers industrial equipment, automation systems, and supply chain management platforms. The increasing use of Internet of Things (IoT) devices, sensors, and robotics in manufacturing has introduced new complexities in terms of software components and their potential vulnerabilities. By leveraging SBOMs, manufacturers can gain full visibility into the software components of their machinery, ensuring that they comply with industry standards, such as ISO 9001 and cybersecurity regulations. Moreover, SBOMs can help manufacturers streamline software updates and patch management processes, reducing the risk of system downtimes due to outdated or vulnerable software.
SBOMs also support manufacturers in optimizing their product lifecycle management and in maintaining compliance with regulations such as the Cybersecurity Manufacturing Innovation Institute (CMII) standards. These standards require companies to ensure the security and functionality of their software components, particularly in industries like aerospace, automotive, and electronics, where safety and compliance are paramount. By adopting SBOMs, manufacturers not only enhance security but also boost supply chain efficiency, ensuring that their software dependencies are reliable, up to date, and free from known vulnerabilities.
In the transportation and logistics sector, SBOMs are used to manage the software that drives autonomous vehicles, fleet management systems, GPS-based tracking, and logistics optimization platforms. As the industry embraces digital transformation, integrating more sophisticated software and IoT solutions, the need for transparency in software dependencies is becoming more critical. SBOMs allow transportation and logistics companies to identify vulnerabilities in their systems and ensure that their software is in compliance with relevant industry standards, such as those governing transportation safety and cybersecurity for connected vehicles. Additionally, SBOMs help optimize fleet management and reduce the risk of system failures, which could lead to costly disruptions and safety hazards.
SBOMs also assist in ensuring that logistics companies adhere to regulatory frameworks such as the European Union's General Data Protection Regulation (GDPR) and local data protection laws. These regulations require organizations to ensure the security of the software that handles sensitive customer data, such as shipment tracking information. With SBOMs, organizations can quickly identify and mitigate potential risks associated with third-party software components, ensuring a more secure and compliant transportation and logistics ecosystem. This ultimately fosters trust with customers and stakeholders, reinforcing the sector’s commitment to safety and operational efficiency.
In retail and e-commerce, SBOMs are leveraged to secure the software infrastructure that supports online platforms, customer management systems, payment gateways, and inventory management solutions. As the retail sector becomes increasingly digitized, SBOMs provide visibility into the software supply chain, helping companies to mitigate the risks of cyberattacks and data breaches. With the widespread use of open-source software and third-party plugins in e-commerce platforms, the need for tracking software dependencies is greater than ever. By utilizing SBOMs, retailers can ensure the integrity and security of their online transactions and customer data, addressing vulnerabilities before they can be exploited.
Moreover, SBOMs contribute to regulatory compliance within the retail and e-commerce industry by supporting adherence to standards like the Payment Card Industry Data Security Standard (PCI DSS) and the General Data Protection Regulation (GDPR). By ensuring that all software components, including third-party tools, meet the necessary security and compliance requirements, retailers can minimize their exposure to financial and reputational risks. In an industry where customer trust is paramount, SBOMs offer a proactive approach to securing software and maintaining a robust, compliant digital infrastructure.
The financial services industry is increasingly adopting SBOMs to manage the complex and rapidly evolving software systems used for banking, trading, payments, and financial reporting. The need for stringent security and compliance in financial institutions has driven the demand for more visibility into software components. SBOMs help banks and other financial entities identify potential vulnerabilities in their software ecosystems, including third-party libraries and open-source components that could be exploited by cybercriminals. By using SBOMs, financial institutions can ensure their software is compliant with regulations such as the Sarbanes-Oxley Act and the Dodd-Frank Act, as well as industry standards like the Financial Services Modernization Act.
SBOMs also help financial services firms ensure that their systems are secure from the threat of cyberattacks, which are a constant risk in this sector. As the industry increasingly relies on digital platforms for services like mobile banking and investment management, the role of SBOMs in identifying software vulnerabilities becomes even more crucial. By providing a clear overview of software dependencies, SBOMs empower financial institutions to manage risk, perform timely security updates, and maintain compliance with the ever-evolving regulatory landscape, ultimately supporting secure and efficient operations.
In the aerospace and defense sector, SBOMs play an indispensable role in managing the software that powers mission-critical systems such as avionics, navigation, and communications. Given the highly regulated nature of this industry, particularly in defense contracts and military applications, SBOMs help ensure that the software used in these applications is free from security vulnerabilities and meets stringent compliance standards. Aerospace and defense organizations use SBOMs to manage the dependencies of their complex software systems, ensuring that each component is verified, secure, and up to date, reducing the risk of costly security incidents or operational failures.
SBOMs also enable better risk management in the aerospace and defense sector by supporting compliance with government regulations, such as the U.S. Department of Defense’s (DoD) cybersecurity requirements for critical systems. With increasing pressure on the defense industry to protect national security interests, SBOMs provide a crucial mechanism for tracking, validating, and securing the software components of military and aerospace technologies. By offering visibility into software dependencies, SBOMs ensure that all components meet the highest standards of safety, security, and compliance, ultimately enhancing the reliability and integrity of defense operations.
One of the key trends driving the SBOM market is the increasing regulatory pressure across industries, particularly in healthcare, finance, and critical infrastructure. Governments and regulatory bodies are enacting more stringent cybersecurity laws that require companies to maintain a detailed understanding of their software components and the associated risks. This has made SBOMs a critical tool for compliance, as organizations must now ensure that their software supply chains are secure and transparent. Additionally, the growing reliance on open-source software, along with the expanding threat landscape of cyberattacks, has made the need for SBOMs even more pressing.
Opportunities for growth in the SBOM market are abundant, particularly in industries that rely heavily on software systems such as healthcare, manufacturing, and defense. As organizations continue to digitalize and connect their operations to the internet, the demand for comprehensive software transparency will grow. SBOMs are also gaining traction as a foundation for improving vulnerability management processes, enabling organizations to respond faster to emerging threats. Additionally, advancements in automation and AI for generating and managing SBOMs will likely present significant opportunities to streamline the process, reducing the complexity of tracking software dependencies and improving efficiency for businesses across various sectors.
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Top Software Bill of Materials (SBOM) Market Companies
Scribe Security
Mend
CodeNotary
Anchore
FOSSA
Cybeats
Snyk
JFrog
Endor Labs
WhiteSource
OWASP
SPDX
CycloneDX
Regional Analysis of Software Bill of Materials (SBOM) Market
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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Software Bill of Materials (SBOM) Market Insights Size And Forecast