After watching application after application fail on launch day or during a routine upgrade, it seems the IT industry is finally waking up and focusing its attention on software quality and software risk. Because of this and other factors, we have seen positive growth numbers in software revenue in the third quarter of this year. And we expect this number to continue trending upward from here on.
You can read more about our growth in a press release we issued this morning, but I wanted to highlight a few key details here on the blog.
Firstly, leading our impressive growth is a groundswell of new customers in traditional and emerging markets. Many of these new markets are industries that traditionally lag in structural quality management, representing several new areas for us to explore.
At the same time, executive management is stepping up to take accountability for software health and resiliency -- like Kathleen Sebelius and the failed launch of Healthcare.gov and Robert Greifeld on the NASDAQ outage in August -- it is a new phenomenon to have CEOs of major organizations talking about software robustness. This new trend, coupled with the willingness to actively manage and measure productivity, is very much in line with our established position in the marketplace.
Lastly, speaking of IT productivity measurement, the recent standardization of Function Point metrics by the Object Management Group (OMG) -- an important performance measure for global outsourcing solutions -- has led several governments to look at Automated Function Points as their de jure productivity measure for software development for many of their agencies. Today, we’re the leading provider of solutions that comply with the OMG standard.
As you can see, there has been a wave of positive developments that have been driving steady growth for the Software Analysis and Measurement industry. And with more and more organizations realizing they need to get a handle on their IT portfolio’s structural quality, we see no end to this positive growth trend.