Security and Vulnerability Management Market Growth by 2030
[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
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CAGR (2022 - 2030)
6.6%
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Market Size 2022
US$ 13.76 Billion
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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
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Offering
- Solution and Service
Deployment
- On-Premise and Cloud
and 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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Security and Vulnerability Management Market: Strategic Insights
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CAGR (2022 - 2030)6.6% -
Market Size 2022
US$ 13.76 Billion -
Market Size 2030
US$ 22.88 Billion
Market Dynamics
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- XXXXXXX
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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
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Solution and Service
- On-Premise and Cloud
- 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.
Report Attribute | Details |
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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
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
|
- 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
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering, Deployment, and Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Solution segment is expected to hold a major market share of security and vulnerability management market in 2022
The security and vulnerability management market is expected to register an incremental growth value of US$ 9.12 billion during the forecast period
The global market size of security and vulnerability management market by 2030 will be around US$ 22.88 billion
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.
Asia Pacific is expected to register highest CAGR in the security and vulnerability management market during the forecast period (2022-2030)
The US is expected to hold a major market share of security and vulnerability management market in 2022
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
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.
US, China, and Japan are expected to register high growth rate during the forecast period
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