SAN FRANCISCO, July 10, 2012 /PRNewswire/ -- Coverity, Inc., the development testing leader, announced today that it was named the market share leader for the embedded automated test and verification and static analysis markets according to a report from VDC Research. The 2012 report titled, "Software & System Lifecycle Management Tools Market Intelligence Service on Automated Test & Verification Tools," finds that Coverity holds 18 percent of the market for embedded automated test and verification products and 36 percent of the market for embedded static analysis products. In the embedded static analysis market, Coverity holds more than two times the market share of the nearest vendor. Coverity was named the market share leader in the two fastest growing segments of the automated test and verification market, which is expected to grow to over 1.6 billion by 2014 according to the VDC report.
The report states: "Coverity has expanded its test tool business in several verticals contributing to 24% growth in 2011, a rate exceeding that of the overall market. With the company's robust increase in Automated Test and Verification revenues, it is now the leading vendor in terms of embedded test tool revenues."
The report attributes Coverity's strong revenue growth to increasing demand and adoption of its broad solution offerings across both embedded and enterprise/IT market segments, including military/aerospace, telecommunications, automotive and financial services. The report also notes Coverity's increased focus and investment in EMEA and APAC as an expected driver of continued revenue growth, and highlights its formation of the Security Research Laboratory to help address the heightening concern and potential business impact of security vulnerabilities.
The report discusses the key strategic issues, drivers and trends affecting the increased investment in automated testing and verification products, including the importance of code quality and the rise of development testing. The report states that "organizations are being held responsible for the overall quality of their software code, including components received from outside sources. They view the impact on quality as the most important criteria for test tools." The report also notes the increasing trend of moving testing upstream into development due to "developers adopting test tools as solutions to augment, not replace, their existing QA and security audit processes."
"Awareness of the business risk posed by software defects is increasing. Organizations are therefore seeking solutions to provide greater visibility into and control over code quality, development efficiency and security enforcement across both in-house and third-party developed code," said Andre Girard, Senior Analyst, Embedded Hardware & Software at VDC Research. "In both the embedded and enterprise/IT markets, automated test and verification products such as static analysis are increasingly recognized as a good approach to improve quality, efficiency and security."
"Our undisputed leadership in the embedded automated test and verification and embedded static analysis markets is the result of the real business value we provide to our customers," said Jennifer Johnson, VP of Marketing at Coverity. "With our development testing platform, built on our flagship static analysis technology, we help protect the brands of the market leaders in every industry that develops products and services that run on software. Between our market leadership in the embedded market and the expansion opportunity in the enterprise/IT market, we are well poised for continued rapid growth."
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Coverity, Inc., (www.coverity.com), the development testing leader, is the trusted standard for companies that need to protect their brands and bottom lines from software failures. More than 1,100 Coverity customers use Coverity's development testing suite of products to automatically test source code for software defects that could lead to product crashes, unexpected behavior, security breaches or catastrophic failure. Coverity is a privately held company headquartered in San Francisco. Coverity is funded by Foundation Capital and Benchmark Capital. Follow us on Twitter or check out our blog.
SOURCE Coverity, Inc.