Security and vulnerability management is a crucial proactive approach in managing network by reducing flaws in coding and designing the network. It is a recurring practice to identify, classify, remediate and mitigate the vulnerabilities in a particular software. Thus vulnerability management is considered as the integral part of both computer and network security.
According to the Future Market Insights report, the global security and vulnerability management market is estimated to be valued at US$ 5,749.5 Mn in 2016 and estimated to reach US$ 20,665.9 Mn by the end of 2027. The market is expected to register an excellent CAGR during the forecast period 2017 – 2027. Such tremendous growth is attributed by the increasing demand for next generation advanced security and vulnerability management system and solutions in the near future.
What are the potential aspects of the market to fuel demand for security and vulnerability management?
- Even increasing demand for cybersecurity systems and solutions due to increasing cyber-attack on both personal and national security
- Growing number of internet users
- Increasing adoption of security and vulnerability management system and solution among healthcare industries
- Continuous integration of new technology and innovative product launch
- Increasing demand for remote sensing solutions together with the growing adoption of cloud technologies
Which region is expected to hold potential opportunities for security and vulnerability management market?
North America is expected to represent outstanding growth among all the regions. The growing adoption of cloud technologies together with the artificial intelligence are the primary factors to surge demand for security and vulnerability management system in the near future. Moreover, growing information technology sector in the Asia-Pacific excluding Japan (APEJ) coupled with the increasing number of internet users is expected to register a healthy CAGR of 13.3% during the forecast period.
Where can market players foresee high level of profitability margin among various types of industrial sectors?
Security and vulnerability management finds huge application in verticals such as retail, healthcare, government, IT and Telecom, BFSI (Banking financial services and insurance), defense and energy & utility among others. The growing healthcare sector is expected to increase implementation of security and vulnerability management during the forecast period. Moreover, depending upon the size of enterprise, small enterprises are expected to witness potential growth in the near future. Whereas, large enterprise are expected to create significant incremental opportunity by the end of 2027.
What component of security and vulnerability management are witnessing prosperous growth?
Both software and outsourcing services in security and vulnerability management account for remarkable growth. However, software are expected to remain prevalent over services. The software for security and vulnerability management are estimated to be valued at a US$ 4,774.6 Mn and expected to dominate the market. Whereas, service are expected to register an excellent CAGR of 13.6% over the forecast period.
Who are the potential market players in security and vulnerability management market?
Several manufacturing companies are strongly focusing to establish long term relations with the solution provider in order to offer a whole package of software and additional services. Companies like Symantec Corporation, McAfee LLC, IBM Corporation, Rapid7, Inc., Trend Micro, Inc., Micro Focus, RSA Security LLC (Dell EMC) and Tripwire, Inc. among others operating in the security and vulnerability management market.