Security and Vulnerability Management Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027
According to a new report published by Future Market Insights titled “Security and Vulnerability Management Market: Global Industry Analysis (2013 – 2021) and Opportunity Assessment (2022 – 2027),” the global security and vulnerability management market was valued at US$ 5,749.5 Mn in 2022 and is projected to reach US$ 20,665.9 Mn by 2027 end. The primary reasons behind this growth are the positive outlook towards escalating demand for next-generation security and vulnerability management solutions and collaboration with cloud service providers. The report on the global market for security and vulnerability management covers various market segments such as region, component, enterprise type, and vertical.
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The COVID-19 pandemic of 2020 revolutionized the digital industry in ways no one would have thought of and completely changed the way we approach technology in our lifestyles. Even before the pandemic, digitization was increasing at a rapid pace, but the pandemic boosted digitization in a very effective manner and changed the course of the digital world.
With lockdown restrictions across the globe, the world economy was now completely dependent on digital technology to keep it functional and operational. Enterprises and businesses across the world went completely digital, and this created major demand for online and cloud-based infrastructure to accommodate this rapid change.
As more businesses and enterprises function on the cloud, their vulnerability increases, and this subsequently drives demand for multiple security and vulnerability assessments that ensure the safety of enterprise data.
Adoption of security and vulnerability management solutions and services saw a major boost during the pandemic and is expected to follow suit in the post-pandemic era as well as instances of cyberattacks and data breaches increase due to rapidly evolving cybersecurity technologies and trends.
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Global Security and Vulnerability Management Market: Dynamics Impacting Growth
- Continuous demand for cyber security solutions due to an increase in cyber attacks
- Demand for remote solutions and increasing usage of cloud technologies
- Continuous growth in the IT sector across the globe
- Increasing number of internet users and high adoption of security and vulnerability management solutions in the healthcare industry
- Continuous launching of new products and solutions
Global Security and Vulnerability Management Market: Forecast by Region
The seven key geographies of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA have been covered in this report. In terms of value, North America is projected to be the most attractive regional market in the global security and vulnerability management market during the forecast period. However, the market in APEJ is expected to register high Y-o-Y growth rates throughout the forecast period. The market in APEJ is projected to exhibit relatively faster growth in terms of value, and is expected to register a CAGR of 13.3% over the forecast period.
Global Security and Vulnerability Management Market: Forecast by Component
On the basis of component, the global security and vulnerability management market is segmented into software and services. In 2016, the software segment was the dominant segment, valued at US$ 4,774.6 Mn, and is expected to remain dominant in terms of value throughout the forecast period. However, the services segment is expected to exhibit relatively high growth rates in terms of value and is anticipated to exhibit a CAGR of 13.6% over the forecast period.
Global Security and Vulnerability Management Market: Forecast by Enterprise Type
On the basis of enterprise size, the global security and vulnerability management market is segmented into small enterprises, medium enterprises, and large enterprises. In terms of value, the small enterprises segment is expected to increase 3.4X during the forecast period. The large enterprises segment is expected to create an incremental opportunity of US$ 8,823.4 Mn during the forecast period.
Global Security and Vulnerability Management Market: Forecast by Vertical
Vertical segmentation consists of IT and Telecom, Retail, Government, BFSI, Healthcare, Energy & Utility, Defence and Others. Among the vertical segments, the healthcare segment is projected to exhibit relatively high growth in terms of value and is expected to register a CAGR of 13.2% over the forecast period.
Global Security and Vulnerability Management Market: Key Players
Some of the significant players operating in the global security and vulnerability management market are IBM Corporation, Micro Focus, Symantec Corporation, Rapid7, Inc., Qualys, Inc., Trend Micro, Inc., Tenable, Inc., McAfee LLC, Tripwire, Inc., and RSA Security LLC (Dell EMC).
Key Questions Answered in the Report
- How big is the vulnerability management market?
- Which region has the highest market share in the security and vulnerability management market??
- What is the projected market value of the global security and vulnerability management market for 2027?
- Which prime players are mentioned in this security and vulnerability management industry survey?
- What was the growth rate of the security and vulnerability management market from 2013 to 2021?
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