Patch management is a method which helps in testing, obtaining, and installing various patches in software or applications. An application or software comprises a huge number of codes and sometimes such codes become vulnerable to various risks which can lead to system failure. Such vulnerable codes are considered patches; hence fixing such vulnerable patches is driving the demand for patch management solutions. The software companies are the major adopters of patch management as they constantly need to ensure that their software is analyzed properly and working efficiently. As the majority of businesses and their business operations heavily rely on such software.
The Global Patch Management Market revenue is projected to reach USD 950 million by 2025. This can be attributed to supportive government laws and regulations. In addition, the increasing need to keep applications updated is also boosting global patch management market growth. Moreover, growing cloud solutions adoption across various enterprises is also one of the major factors driving the market growth.
However, the regulatory and legal policies affecting the advancement of digital maps are likely to hamper the market growth. Furthermore, the growing demand for data mapping in real-time is anticipated to be opportunistic for the market.
Key Segments of the Global Patch Management Market
Type Overview, 2018-2025 (USD Million)
- Compliance Management
- Vulnerability Management
Application Overview, 2018-2025 (USD Million)
- Mobile Terminal
- PC Terminal
Industry Vertical Overview, 2018-2025 (USD Million)
- IT & Telecom
- Government & Defense
Regional Overview, 2018-2025 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global patch management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global patch management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the patch management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global patch management market. The report will benefit: Every stakeholder involved in the Patch Management market.
- Managers within the patch management industry looking to publish recent and forecasted statistics about the global patch management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global patch management market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The patch management is used to confirm the proper functioning of a mobile application or computer software. With the growing security advancements, the hackers always manage to manipulate every software and application by finding vulnerabilities in the codes. Hence, organizations always need to update their software and applications by managing patches to reduce such vulnerabilities. Therefore, such factors combined driving the demand for patch management systems across global organizations.
Based on the type segment, the market is divided into compliance management and vulnerability management. In the year 2019, the vulnerability management segment accounted for the highest market revenue and it is projected to hold the major market share over the forecast period. The growth of this segment is primarily accredited to the increasing need to eliminate the vulnerabilities associated with applications and software. On the contrary, the compliance management segment accounted for the highest growth and it is expected to hold its position over the forecast period.
Based on the application, the market is segmented into a mobile terminal and PC terminal. The PC terminal segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. The market growth in this segment is primarily attributed to the increasing demand among organizations for patch installation programs for computer systems. On the contrary, the mobile terminal segment accounted for the highest growth and it is expected to hold its position over the forecast period.
Industry Vertical Segment
In terms of industry vertical segment, the market is segmented into BFSI, IT & telecom, healthcare, retail, government & defense, and others. The healthcare segment accounted for the major market share in 2019 and it is expected to do so throughout the forecast period. However, the BFSI segment is projected to accumulate major growth in forthcoming years. The market growth in this segment is mainly accredited to the increasing cyber-attacks and various vulnerabilities in financial institutions.
The North American region dominated the overall market in 2019 and it is projected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the quick adoption of the latest technologies and the existence of major market players in this region. However, the European region is projected to accumulate the highest growth during the forecast period due to the European governments’ GDPR that mainly focus on data protection and information security.
The major players of the global patch management market are Qualys, Symantec, Avast, Microsoft, Micro Focus, IBM, Ivanti, SolarWinds, ConnectWise, and Oracle. Moreover, the other prospective players in the patch management market are Automox, SysAid Technologies, Chef Software, GFI Software, and ManageEngine. The patch management market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic services and solutions to stay competitive in the global market.