Market Analysis on Security and Vulnerability Management Industry – Insights for Corporate Strategy and R&D
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What Is the Forecast for the Security and Vulnerability Management Market from 2024 to 2025?
The steadily increasing size of the security and vulnerability management market was observed in recent years. From 2024 to 2025, the market is predicted to expand from a worth of $13.98 billion to $14.53 billion, indicating a Compound Annual Growth Rate (CAGR) of 4.0%. Factors such as the early emergence of cyber threats, stringent regulatory measures, the growing complexity of networks, the widespread use of the Internet, the transition towards digitizing businesses, and incidents of data breaches have influenced the growth during the historical period.
What Is the Projected Market Size of the Security and Vulnerability Management Market?
Over the coming years, the security and vulnerability management market is anticipated to experience substantial growth. It is projected to expand to a value of $22.05 billion by 2029, with a compound annual growth rate (CAGR) of 11.0%. The anticipated growth over the forecast period can be attributed to factors such as a dearth of cybersecurity talent, the adoption of zero trust, the evolution of ransomware, supply chain security issues, and advancements in AI and automation. The forecast period is also expected to see key trends like a cybersecurity skills gap, increased cyber threat sophistication, regulatory compliance demands, changes in remote work dynamics, cloud migration, and the expansion of IoT.
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Who are the Major Competitors in the Security and Vulnerability Management Market Outlook?
Major companies operating in the security and vulnerability management market include Dell Technologies Inc., International Business Machines Corporation, Broadcom Inc., F-Secure Corporation, Fortinet Inc., Check Point Software Technologies Ltd., McAfee Inc., Proofpoint Inc., Rapid7 Inc., Qualys Inc., AT&T Cybersecurity Inc., Foreseeti AB, Positive Technologies Company, Tenable Inc., Claroty Ltd., Alert Logic Inc., Tripwire Inc., Skybox Security Inc., NetIQ Corporation, Expanse Inc., Outpost24 AB, Balbix Inc., Digital Defense Inc., SecPod Technologies Private Limited, Brinqa LLC, Holm Security AB, Acunetix Limited, RiskIQ Inc., Kenna Security Inc., Breachlock Inc.
What Is Fueling Growth in the Security and Vulnerability Management Market?
The expansion of the security and vulnerability management market is forecasted to be fuelled by the increasing adoption of cloud computing. Cloud computing provides on-demand access to computing services such as storage and software over the internet, enabling businesses to utilise resources more flexibly without the need for physical infrastructure. The rising trend in cloud computing is due to the flexibility, cost-effectiveness, scalability, and powerful resources it provides to businesses without the requirement of investing in or maintaining physical infrastructure. In the context of security and vulnerability management, cloud computing provides scalable tools and services to monitor, detect, and deal with potential threats and vulnerabilities in real-time. For example, it was reported by the European Commission, a government body based in Belgium, that in 2023, 77.6% of large enterprises were using cloud computing services – a 6-percentage-point increase since 2021. Medium-sized enterprises had a 59% adoption rate of cloud services in 2023, a rise from 53% in 2021; and among small businesses, there was a 3.8 percentage point increase, with a 41.7% adoption rate over the same period. Hence, the increasing adoption of cloud computing is fuelling the expansion of the security and vulnerability management market.
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Which Security and Vulnerability Management Market Segments Are Growing the Fastest?
The security and vulnerability management market covered in this report is segmented –
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
Subsegments:
1) By Software: Vulnerability Assessment Tools, Security Information And Event Management (SIEM) Software, Patch Management Solutions, Configuration Management Software, Threat Intelligence Platforms
2) By Services: Consulting Services, Managed Security Services, Incident Response Services, Security Training And Awareness Programs, Compliance Management Services
Which Industry Trends Are Shaping the Future of the Security and Vulnerability Management Market?
The emergence of technological advancements is becoming a popular trend in the security and vulnerability market. The key companies within this sector are striving towards the creation of innovative products and applications to enhance their market standing. For instance, New Relic, a US-based visibility company, introduced the New Relic Vulnerability Management in May 2022. This product will aid organizations in identifying and neutralizing security threats with enhanced speed and accuracy. To manage risk and security more efficiently, every software team member, including security engineers, can use New Relic as the go-to platform to consolidate native and external security signals across the complete software stack. Through the use of associations and correlations, engineers have the ability to monitor, troubleshoot and secure the entire software stack more effectively, thereby lowering potential risks.
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Which Countries Are Leading the Security and Vulnerability Management Market?
North America was the largest region in the security and vulnerability management market in 2024. 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.
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This Report Delivers Insight On:
1. How big is the security and vulnerability management market, and how is it changing globally?
2. Who are the major companies in the security and vulnerability management market, and how are they performing?
3. What are the key opportunities and risks in the security and vulnerability management market right now?
4. Which products or customer segments are growing the most in the security and vulnerability management market?
5. What factors are helping or slowing down the growth of the security and vulnerability management market?
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