Security and Vulnerability Management Market Growth by 2030

Security and Vulnerability Management Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Offering (Solution and Service), Deployment (On-Premise and Cloud), and Industry Vertical (BFSI, IT & Telecom, Retail & and E-Commerce, Healthcare, Government and Utilities, and Others

  • Report Code : TIPRE00011221
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 161

Security and Vulnerability Management Market Growth by 2030

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[Research Report] The security and vulnerability management market size is projected to grow from US$ 13.76 billion in 2022 to US$ 22.88 billion by 2030; the market is estimated to record a CAGR of 6.6% from 2022 to 2030.

Analyst Perspective:

The report includes growth prospects owing to the current security and vulnerability management market trends and their foreseeable impact during the forecast period. The growing number of cyberattacks and data breach incidents across the world are among the factors bolstering the market. Growing investments in AI-enabled solutions and the expansion of the BFSI and healthcare sectors are further expected to boost the market during the forecast period. Stringent government regulations related to cybersecurity and data confidentiality also benefit the market. Moreover, the integration of modern technologies such as AI, ML, data analytics tools, and cloud storage is likely to create growth opportunities for the security and vulnerability management market growth in the coming years.

Market Overview:

Security is an organization's most valuable asset, which requires the contribution of both technology and training. Vulnerabilities are caused by faults in systems, which could lead to unauthorized access to private information. Security and vulnerability management is the process of identifying, classifying, mitigating, and fixing vulnerabilities in networking hardware or software. Crucial data obtained from vulnerability assessment is used by security teams to fix vulnerabilities in their networks, thereby facilitating risk assessment and threat mitigation activities. An upsurge in cybercrimes and increasing investments in cybersecurity processes are likely to drive the security and vulnerability management market growth in the near future.

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Security and Vulnerability Management Market: Strategic Insights

Security and Vulnerability Management Market
  • CAGR
    CAGR (2022 - 2030)
    6.6%
  • Market Size 2022
    US$ 13.76 Billion
  • Market Size 2030
    US$ 22.88 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Microsoft Corp
  • International Business Machines Corp
  • Hewlett Packard Enterprise Development LP
  • Qualys Inc
  • Tenable Holdings Inc
  • Rapid7
  • CrowdStrike Holdings Inc
  • Fortra LLC
  • Skybox Security Inc

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentOffering
  • Solution and Service
Market SegmentDeployment
  • On-Premise and Cloud
Market Segmentand Industry Vertical
  • BFSI
  • IT & Telecom
  • Retail & and E-Commerce
  • Healthcare
  • Government and Utilities
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Security and Vulnerability Management Market Driver:

Increasing Number of Cyberattacks and Data Breaches Fuel Security and Vulnerability Management Market

According to a report by the AAG published on February 2024, 43% of UK businesses are facing cyber-attacks in 2022, recording an increase of ~32% from 2020. This propels the demand for security and vulnerability management solutions and services among consumers for protecting sensitive data and critical systems against cyberattacks. Moreover, these solutions are also used to identify and address vulnerabilities that help users mitigate risks related to security breaches and protect sensitive data and systems.

Report Segmentation and Scope:

The security and vulnerability management market analysis has been carried out by considering the following segments: offering, deployment, and industry. Based on offering, the market is segmented into solution and services. In terms of deployment, the security and vulnerability management market is categorized into on-premise and cloud. On the basis of industry, the market is divided into BFSI, IT & telecom, retail and e-commerce, healthcare, government and utilities, and others. By region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Segmental Analysis:

Based on industry, the security and vulnerability management market is segmented into BFSI, IT & telecom, retail and e-commerce, healthcare, government and utilities, and others. The BFSI segment is anticipated to hold a significant security and vulnerability management market share during the forecast period. The projected growth of this segment is ascribed to the growing digitalization and the rising number of cyberattacks in the BFSI sector, along with its intense impact on national economies. According to Computer Emergency Response Team (CERT-In) data, the financial sector in India faced over 1.3 million cyber-attacks between January and October 2023, with an average of 4,400 attacks per day. Cybersecurity is becoming increasingly crucial for financial institutions due to the growing digitalization in the financial sector, facilitating the expansion of the security and vulnerability management market. Digitalization makes it easy for cyber-attackers to target websites and transaction systems.

Regional Analysis:

The geographic scope of the security and vulnerability management market report entails North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, North America held the largest security and vulnerability management market share in 2022. Growing investments in AI technology, rising awareness related to cyber threats, significant investments in cybersecurity, and stringent rules and regulations for the financial industry are driving the market in this region. The region is highly focused on adopting comprehensive security solutions for protecting data from cyber threats. In October 2023, the House Foreign Affairs Committee and Senate Homeland Security & Governmental Affairs faced a cyberattack from Vietnamese hackers trying to install spyware on the phones of journalists. Such cyberattack incidents trigger the demand for vulnerability management solutions among consumers to protect their sensitive data. Vulnerability management allows users to strengthen their systems, protect data, and comply with security standards.

Key Player Analysis:

Microsoft Corp; International Business Machines Corp;, Hewlett Packard Enterprise Development LP; Qualys Inc; Tenable Holdings Inc; Rapid7; CrowdStrike Holdings Inc; Fortra, LLC; Skybox Security, Inc; and Cisco Systems Inc are among the key companies profiled in the security and vulnerability management market report.

Security and Vulnerability Management Market Report Scope

Report Attribute Details
Market size in 2022 US$ 13.76 Billion
Market Size by 2030 US$ 22.88 Billion
Global CAGR (2022 - 2030) 6.6%
Historical Data 2020-2022
Forecast period 2022-2030
Segments Covered By Offering
  • Solution and Service
By Deployment
  • On-Premise and Cloud
By and Industry Vertical
  • BFSI
  • IT & Telecom
  • Retail & and E-Commerce
  • Healthcare
  • Government and Utilities
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Microsoft Corp
  • International Business Machines Corp
  • Hewlett Packard Enterprise Development LP
  • Qualys Inc
  • Tenable Holdings Inc
  • Rapid7
  • CrowdStrike Holdings Inc
  • Fortra LLC
  • Skybox Security Inc
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Recent Developments:

The security and vulnerability management market forecast can help stakeholders in this marketplace plan their growth strategies. The market players highly adopt inorganic and organic strategies; a few of the recent key developments are listed below:

  • In October 2023, BackBox Software Inc launched a Network Vulnerability Manager service for enhancing network automation. This new service assists users in network automation and offers a comprehensive solution to manage vulnerabilities within network infrastructures.
  • In October 2023, Hackuity launched the version 2.0 of its intelligent risk-based vulnerability management platform. Version 2.0 is a next-generation platform featuring major enhancements to support businesses in handling risks. The new version combines vulnerability severity, threat intelligence, and unique business context, providing businesses with a measurable True Risk Score (TRS).
  • In April 2023, Google LLC launched the Hacking Policy Council initiative to strengthen the vulnerability management process. The Hacking Policy Council is collaborating with Intel, Bugcrowd, Intigriti, HackerOne, and Luta Security to enhance vulnerability management practices.
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Offering, Deployment, and Industry Vertical

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

This text is related
to country scope.

Frequently Asked Questions


Which is the leading application segment in the security and vulnerability management market?

Solution segment is expected to hold a major market share of security and vulnerability management market in 2022

What is the incremental growth of the security and vulnerability management market during the forecast period?

The security and vulnerability management market is expected to register an incremental growth value of US$ 9.12 billion during the forecast period

What will be the global market size of security and vulnerability management market by 2030?

The global market size of security and vulnerability management market by 2030 will be around US$ 22.88 billion

What is the future trend in the security and vulnerability management market?

Stringent regulatory standards and data privacy compliances are anticipated to play a significant role in the security and vulnerability management market in the coming years.

Which is the fastest growing regional market?

Asia Pacific is expected to register highest CAGR in the security and vulnerability management market during the forecast period (2022-2030)

Which country is holding the major market share of security and vulnerability management?

The US is expected to hold a major market share of security and vulnerability management market in 2022

Which are the key players holding the major market share of security and vulnerability management market?

Microsoft Corp; International Business Machines Corp; Hewlett Packard Enterprise Development LP; Qualys Inc; Tenable Holdings Inc; Rapid7; CrowdStrike Holdings Inc; Fortra, LLC; Skybox Security, Inc; and Cisco Systems Inc are the key market players expected to hold a major market share of security and vulnerability management market in 2022

What are the driving factors impacting the security and vulnerability management market?

Growing investments in AI-enabled solutions and increasing number of cyberattacks and data breaches are the major factors that propel the security and vulnerability management market.

Which countries are registering a high growth rate during the forecast period?

US, China, and Japan are expected to register high growth rate during the forecast period

What is the estimated global market size for the security and vulnerability management market in 2022?

The estimated global market size for the security and vulnerability management market in 2022 is expected to be around US$ 13.76 billion

The List of Companies - Security and Vulnerability Management Market

  • Microsoft Corp
  • International Business Machines Corp
  • Hewlett Packard Enterprise Development LP
  • Qualys Inc
  • Tenable Holdings Inc
  • Rapid7
  • CrowdStrike Holdings Inc
  • Fortra, LLC
  • Skybox Security, Inc
  • Cisco Systems Inc

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