Global Security and Vulnerability Management Market
Financial Services

2024-2033 Security and Vulnerability Management Market Forecast: Predicted Growth Rate and Market Size

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How Rapidly is the Security and Vulnerability Management Market Forecasted to Grow Between 2024 and 2033?

The market size for security and vulnerability management has seen robust growth in the recent past. The market is estimated to expand from $13.61 billion in 2023 to $14.31 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 5.2%. Factors such as early detection of cyber threats, implementation of regulatory measures, increased complexity in networks, expansion of the Internet, transition towards digital businesses, and incidents of data breaches contributed to the growth during the historic period.

The market size of security and vulnerability management is projected to experience a robust increase in the forthcoming years. It is forecasted to reach $19.5 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 8.0%. Various factors contributing to the growth during this timeline include the deficiency of skilled professionals in cybersecurity, the rise in zero trust models, the advancement of ransomware, concerns related to the security of supply chains, and technological enhancements in AI and automation. Key trends to watch for during this period encompass the widening gap in cybersecurity skills, an increase in the complexity of cyber threats, compliance with regulatory measures, changing dynamics of remote work, migration towards cloud, and the proliferation of the Internet of Things (IoT).

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What Factors Are Behind the Rapid Growth of the security and vulnerability management Market?

Increases in the employment of security and vulnerability assessment and management tools are projected to propel the security and vulnerability management market’s expansion. These tools are instrumental in the discovery, identification, and documentation of security gaps. To reduce security threats, a multitude of companies are deploying security and vulnerability assessment and management platforms. One case in point is Synk, a security firm situated in the US that specializes in security and vulnerability management, which widened its offerings with Snyk Code in October 2021. This SAST tool initially supported languages like Java, JavaScript, and Python, but has since expanded to encompass C#, Ruby, PHP, and Go. Snyk’s clientele has conducted over 300 million tests and mitigated over 30 million vulnerabilities in a mere span of 90 days over the past year. Snyk witnessed a 154 percent increase year-on-year in its Annual Recurring Revenue (ARR), thanks to a client roster that now includes over 1,200 corporations including Asurion, Google, Intuit, MongoDB, New Relic, Revolut, and Salesforce. The growing adoption of security and vulnerability assessment and management tools is, therefore, steering the security and vulnerability management market.

What Are the Principal Segments of the Security and Vulnerability Management Market?

1) By Component: Software, Services

2) By Organization Size: Small and Medium Scale, Large Scale

3) By Target: Content Management System Vulnerabilities, API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, Other Targets

4) By Application: Banking, Financial Services And Insurance (BFSI), Government and Defense, Healthcare, IT and Telecom, Retail, Other Applications

What Emerging Patterns Are Redefining the Security and Vulnerability Management Market?

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Which Geographical Regions Are Shaping the Security and Vulnerability Management Market Growth?

North America was the largest region in the security and vulnerability management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security and vulnerability management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Security and Vulnerability Management Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the security and vulnerability management market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Security and Vulnerability Management Market Include

1. Security and Vulnerability Management Market Executive Summary

2. Security and Vulnerability Management Market Segments

3. Security and Vulnerability Management Market Size And Template Market Growth Rate

4. Key Security and Vulnerability Management Market Trends

5. Major Security and Vulnerability Management Market Drivers

……

25. Key Mergers And Acquisitions In The Security and Vulnerability Management Market

26. Top Security and Vulnerability Management Companies

27. Security and Vulnerability Management Market Opportunities And Strategies

28. Security and Vulnerability Management Market, Conclusions And Recommendations

29. Appendix

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