The global security and vulnerability management market is expected to grow rapidly due to the fact that cybercrime and cyber threats are increasing at a rapid pace, as is the risk associated with them. Enterprises are turning to SVM to improve their security operations and ensure that threat intelligence and risk management are in place.
The third platform is made up of four pillars: social, mobile, cloud, and big data. In today's world, organizations are vulnerable to security breaches, for which automated vulnerability solutions are used. Big data and cloud computing are expected to create new vulnerabilities, resulting in an increase in threat management systems. Two major factors that have increased the demand for vulnerability management in recent years are design flaws and weaknesses, as well as mandatory regulations implemented by government and industry.
The global Security and Vulnerability Management market size was estimated to reach over USD 11.8 billion in 2020, and projected to grow significantly with a CAGR of 4.9% over the forecast period. The SVM market provides a window through which users can avoid risk and analyse risk factors. Enterprises in the IT world are on their way to the third platform, which necessitates the use of additional layers of security as well as the development of new approaches to dealing with threats, as a result of which enterprises are expected to place a greater emphasis on security.
The major drivers of the security and vulnerability management market are an increase in cyber-attack threats, significant growth in cloud computing, and stringent industry standards and regulations. Because the IT industry is prone to numerous vulnerabilities, it is compelled to implement security and vulnerability management. However, the major impediments to market growth are a lack of knowledge about security and vulnerability management solutions, as well as a high initial investment.
Security and Vulnerability Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 11.8 billion|
|Growth Rate||CAGR of 4.9% during 2021-2028|
|Segment Covered||Target, Deployment Model, Organization Size, Industry Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||IBM Corporation, EMC Corporation, Microsoft Corporation, Hewlett-Packard, Netiq Corporation, Rapid 7, Tripwire, Qualys, Skybox Security, Alien Vault among others.|
Key Segments of the Global Security and Vulnerability Management Market
Target Overview, 2019-2028 (USD Million)
- Content Management System Vulnerabilities
- API Vulnerabilities
- Internet of Things (IoT) Vulnerabilities
Deployment Model Overview, 2019-2028 (USD Million)
Organization Size Overview, 2019-2028 (USD Million)
- Large Enterprises
- Medium and Small Enterprises
Industry Vertical Overview, 2019-2028 (USD Million)
- Retail and E-commerce
- Government and Public Sector
Regional Overview, 2019-2028 (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 Security and Vulnerability 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 Security and Vulnerability Management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Security and Vulnerability Management industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Target, deployment model, Organization Size 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 Security and Vulnerability Management market. The report will benefit every stakeholder involved in the Security and Vulnerability Management market.
- Managers within the Security and Vulnerability Management industry looking to publish recent and forecasted statistics about the global Security and Vulnerability Management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Security and Vulnerability Management market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
The recent increase in the implementation of robust cyber security management systems has paved the way for the global security and vulnerability management market to succeed. Many businesses are eager to implement effective methods to combat the growing threats of hacking, phishing, and data breaches. The presence of serious flaws in organizational network designs, as well as government-imposed regulations, are two of the major factors driving the global security and vulnerability management market. Security and vulnerability management assists enterprises in establishing strict policies and achieving reliable defense across all business vertices.
However, the burden of additional costs may cause small businesses to avoid implementing a security and vulnerability management-based environment. Nonetheless, the increasing risks of data breaches may force many businesses to prioritize quality security and vulnerability management processes.
Based on the Target segment, the market is classified into Content Management System Vulnerabilities, and API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, and Others. The growth of the application programme interface (API) vulnerabilities segment can be attributed to several benefits provided by API, such as automation, optimized information and service distribution, and organizations focusing on their core competencies. Security and vulnerability management solutions and services are in charge of securing critical APIs used for accessing an enterprise's data via digital channels such as mobile apps, the cloud, and Internet of Things (IoT) devices. They improve overall API security and facilitate regulatory compliance in the development, deployment, management, and operation of APIs.
Deployment Model Segment
Organizations benefit from cloud-based deployment modes such as increased scalability, speed, 24/7 services, and improved IT security. As the central delivery model meets IT security needs, the demand for Software as a Service (SaaS)-based security solutions is rapidly increasing. The cloud deployment mode's cost-effectiveness and scalability are expected to boost cloud-based security and vulnerability management solutions. Because of the growing number of cloud-deployed applications, large enterprises are shifting away from traditional on-premises security and vulnerability management solutions and toward cloud-based security and vulnerability management solutions.
Organization Size Segment
Based on the Organization Size, the market is segmented into Large Enterprises and Medium and Small Enterprises. The market is divided into Small and Medium Enterprises and Large Enterprises based on Organization Size. Because of the risk of high cybersecurity vulnerabilities, cybersecurity threats, and cyber security exploits, large organizations dominate the market. These security and vulnerability management products are widely used by large enterprises. Large enterprises use assessment products such as application scanners, device vulnerability assessment products, policy and compliance solutions, and others to combat cyberthreats.
Industry Vertical Segment
Based on the industry vertical, the market is segmented into BFSI, Utilities, retail and E-commerce, government and public sector, healthcare, Manufacturing, and others. Because of the increased frequency of cyberattacks, security and vulnerability management are critical in healthcare organizations. As the number of data and identity breaches in the healthcare industry grows, so does the need for a security system to detect risks, maintain logs of users accessing confidential data, and access control for cyber threat investigation. Some major hacking incidents in the healthcare industry have resulted in increased cyber security. Security and vulnerability management solution providers have created advanced next-generation solutions to protect valuable data in the healthcare and social assistance vertical.
Asia Pacific (APAC) includes developed and developing economies with developed network infrastructure, such as Australia, South Korea, Japan, India, Hong Kong, and others. Countries in this region are flooded with a large number of Small and Medium-sized Enterprises (SMEs), which employ more than 70% of the population. The high costs associated with successfully deploying adaptive security projects prevent SMEs from implementing strong security and vulnerability management practices.
The major players of the global Security and Vulnerability Management market are IBM Corporation, EMC Corporation, Microsoft Corporation, Hewlett-Packard, NetIQ Corporation, Rapid 7, Tripwire, Qualys, Skybox Security, Alien Vault among others. These players have adopted various strategies, such as new product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions to cater to the needs of the Security and Vulnerability Management market. Renowned companies are offering new and modern Security and Vulnerability Management Content Management System Vulnerabilities API Vulnerabilities. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic Content Management System Vulnerabilities and API Vulnerabilities and to remain competitive in the global market.