The global Security And Vulnerability Management Market size is projected to grow from USD 13.8 billion in 2021 to USD 18.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period.
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The major driving factors contributing to the high growth rate of the security and vulnerability management market include an increase in vulnerabilities across globe, high monetary losses due to the absence of security and vulnerability management solutions, stringent regulatory standard and data privacy compliances, surge in the adoption of IoT and cloud trends, and integration of advanced technologies such as AI and ML with security and vulnerability management solutions.
By component, the services segment to register the highest growth rate during the forecast period
The services segment includes various services that are required to deploy, execute, and maintain the security and vulnerability management in an organization. The security and vulnerability management market based on services includes both professional services and managed services. The services in the security and vulnerability management market become critical as they provide support for the proper functioning of software solutions. Various vendors in the market are focusing on delivering specialized services to help organizations with the smooth running of business processes. Professional services comprise training and consulting, and deployment and integration. On the other hand, managed services include support, maintenance, and infrastructure management. The demand for services in the security and vulnerability management market is expected to be growing in the coming years to support business objectives. The increasing need for planning, designing, and consulting of security and vulnerability management solutions to fuel the demand for professional services.
Based on vertical, the healthcare segment to grow at the highest CAGR during the forecast period
The healthcare industry comprises a global infrastructure that deals with continuous health-related data exchange. There has been an increase in the number of cyberattacks, such as ransomware and misinformation campaigns on healthcare organizations with electronic protected health information (ePHI), personally identifiable information (PII), and electronic health records (EHR) with the COVID-19 outbreak. Email phishing attacks have spiked due to COVID-19, more so, across the healthcare sector. Healthcare organizations face several challenges, such as maintaining the privacy of Electronic Health Records (EHRs) and meeting various compliances, set by HIPAA, which has helped the IT departments of the healthcare sector to upgrade and put manage security policies and procedures to PHI. With the adoption of technologies such as BYOD and centralized patient information, the vertical has become highly susceptible to cyber-attacks. The need to secure data retrieving process from clinical databases is expected to increase the deployment of security and vulnerability management solutions. Nowadays, security and vulnerability management as a service gaining momentum in healthcare industry as it is reliable and cost-efficient solution.
North America to hold the largest market share during the forecast period.
North America has several prominent market players delivering security and vulnerability management solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the security and vulnerability management markets growth. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for deploying security and vulnerability management and services.
Market Players
Key and innovative vendors in the security and vulnerability management market include IBM (US), AT&T (US), Qualys (US), Rapid7 (US), Tenable (US), RSA Security (US), McAfee (US), Foreseeti (Sweden), F-Secure (Finland), Acunetix (US), Skybox Security (US), SecPod (India), Tripwire (US), Kenna Security (US), Check Point (US), Expanse (US), Digital Defense (US), Positive Technologies (Russia), Outpost24 (Sweden), Brinqa (US), NopSec (US), RiskIQ (US), RiskSense (US), Claroty (US), Holm Security (Sweden), Balbix (US), Intruder (UK), BreachLock (US), and Nucleus Security (US).
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According to a research report "Security and Vulnerability Management Market by Target, Deployment Mode (Cloud and on-premises), Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region - Global Forecast to 2025" published by MarketsandMarkets, The global security and vulnerability management market size is expected to grow from USD 12.5 billion in 2020 to USD 15.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.5% from 2020 to 2025.The growth in the market can be attributed to the increasing number of cyberattacks, growing cyber awareness across developing economies, and rising mandates for adhering to regulatory compliances across organizations operating in various verticals.Inquire Special Pricing @ https://www.marketsandmarkets.com/RequestCOVID19.asp?id=204180861By target, the content management system vulnerabilities segment to hold the largest market size in 2020Content management systems are typically used for defining, sourcing, integrating, storing, and effectively retrieving, and reconciling massive amounts of documents.
Content management system vulnerabilities are being increasingly exposed to exploitations due to the growing traction of these systems used across large enterprises to manage their voluminous content on daily basis.
On the other hand, growth of digitalization, eCommerce, Bring Your Own Device (BYOD), and Work From Home (WFH) practices have increased the amount of content generated in inter- and intra-organizations.
The content generated can be regarded as the backbone for this digital transformation.
These trends are expected to spur the adoption of security and vulnerability management solutions and services over the forecast years.By deployment mode, the cloud segment to grow at a higher rate during the forecast periodThe cloud-based deployment mode provides organizations with benefits, such as increased scalability, speed, 24/7 services, and improved IT security.
The demand for Software as a Service (SaaS)-based security solutions is rapidly increasing, as the central delivery model meets IT security needs.
Security and Vulnerability management market is a security practice intended specifically to avoid exploiting IT vulnerabilities that occur in a system or organisation.
The process involves identifying, classifying, resolving and reducing system's various vulnerabilities.
It is an essential computer and network security component and is practiced in accordance with risk management and other safety methods.Security and vulnerability management market is growing at a healthy CAGR of 10.28% during the forecast period of 2019 to 2026.
The upcoming market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.The Global Security and Vulnerability Management Market report takes into account all the company profiles of the major players and brands.
The report points up the variation in CAGR value for the historic year 2019, the base year 2019, and the forecast year 2019-2026.
The market study of Security and Vulnerability Management Market report helps businesses to make out the key opportunities in the market and influencing factors which is useful to take business to the peak level.
The report covers an overview of the industry along with a detailed explanation that provides a lot of insight.
The report also analyzes the production as well as management technology in various end-user industries.
The report provides insights into the strategies used by the key players in order to gain a strong base in the Security and Vulnerability Management Market.The major players covered in Security and Vulnerability Management Markets: Tripwire, Inc.,Tenable, Inc.,Symantec Corporation,Skybox Security, Inc.,Rapid7, Inc.,Qualys, Inc.,Microsoft Corporation,Micro Focus Corporation,McAfee, LLC,International Business Machines Corporation,Hewlett Packard Enterprise Development LP,Dell EMC,AlienVault, Inc.The final report will add the analysis of the Impact of Covid-19 in this report Security and Vulnerability Management industry.Get a Sample Copy @ https://www.reportsandmarkets.com/sample-request/global-security-and-vulnerability-management-market-4319329?utm_source=techsite_medium=60Drivers and RisksThe report pays special attention to factors which contribute to the Security and Vulnerability Management Market growth also known as market drivers.
Any changes in these market dynamics directly affect the market growth hence the report provides a future insight into important factors that should be monitored and which could be leveraged by companies, vendors, distributors and all stakeholders alike to their advantage.
The report also provides an insight into the challenges faced by the market and the strategies used by existing players to overcome or avoid these risks.Regional overviewAs already mentioned, the report covers different regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
It is important to understand where the Security and Vulnerability Management market has been, currently is and where it is projected to go so that an accurate picture of the future may be painted.
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