Global Security and Vulnerability Management Market are valued at USD 11.26 Billion in 2021 and expected to reach USD 21.38 Billion by 2028 with a CAGR of 9.6% over the forecast period.
Global Security and Vulnerability Management Market: Industry Size, Trends, Competitive, Historical & Forecast Analysis, And 2021-2028: Increasing adoption of IoT and cloud trends, cybercrime, and cyber threats, and growing technological developments are some of the major factors driving the growth of the Global Security and Vulnerability Management Market.
Security and vulnerability management is the most common way of prioritizing, limiting, classifying, and tracking down software vulnerabilities in digital innovation while maintaining system security. This system is significant for organization and computer security since it lessens the risk of information infection and implements security strategies. Security and vulnerability management is utilized by the associations to diminish risk and monitor the security strategy. Security and vulnerability management (SVM) makes security arrangements simpler, easier, and more cost-effective by expanding automation, nature of safety inside less utilization time, and high exactness. Identification and removal of threats are the excellent benefits of security and vulnerability management.
The Covid-19 pandemic has also impacted the growth of the global security and vulnerability management market. During the Covid-19 pandemic, companies of various sizes adopted a remote working model by permitting the employees to work from their homes to avoid the risk of getting contaminated from the Covid. The internet ecosystem plays a fundamental part across the world. This gave admittance to the organization's information to employees that were working from remote or far-off areas. Consequently, this has expanded the possibilities of vulnerability that has forced organizations to take on security and vulnerability management solutions in order to avoid money-related and information losses.
The global security and vulnerability management market is segmented on the basis of the component, deployment mode, organization size, vertical, and region & country level. On the basis of components, the global security and vulnerability management market is segmented into services and software. By deployment mode, the market is segmented into on-premises, and cloud. By organization size, the global security and vulnerability management market is segmented into SMEs and large enterprises. By vertical, the market is segmented into IT & telecom, energy & utility, BFSI, retail, healthcare, manufacturing, and others.
Some major key players for the global Security and Vulnerability Management Market report cover prominent players like
On September 13th, 2021; Tenable Inc. agreed to acquire cloud-native security startup Accurics inc. for $160 million in cash. The agreement announced, has expanded the vulnerability management platform to secure the cloud with infrastructure as a code (IaC) offering. Founded in 2019, Accuracy aims to help enterprises and security teams codify security in the entire development lifecycle.
On July 20th, 2021; Digital Defense, by HelpSystems announced it has gone into a managed service provider (MSP) agreement with data security expert Private Protocol. With workplaces in South Africa, Mauritius, and the United Kingdom, Private Protocol provides data protection and IT security solutions that avoid information leakage and further develop by and large information security. The partnership will permit Private Protocol to grow its cyber protection portfolio by offering and executing Digital Defense's Frontline vulnerability management and threat assessment solutions, taking the organization from an information and access security solutions supplier to a total IT security company with an extended security product offering.
On March 9th, 2021; AT&T extended its portfolio of managed security services by collaborating with Fortinet to make Safe Access Services Edge (SASE) a reality for endeavors. AT&T SASE with Fortinet is the first, world-managed SASE arrangement on a scale that incorporated software-defined wide-area networks with the fundamental network security elements of the SASE structure & 24x7 the management. This strong blend of individuals, cycles, and innovation helps the enterprise with expanding security, increment network performance, and diminish complexity and cost.
One of the major factors driving the growth of the security and vulnerability management market is the increasing adoption of IoT and cloud trends. One of the signs of IoT gadgets is their ability to create massive amounts of information that should be transmitted, analysed, and stored. Security and vulnerability management solutions guarantee that whatever number of IoT gadgets as possible are re-recognized and get appropriate updates, fixes, or hardening to guarantee they can defend themselves against attack. Therefore, the rising number of smart devices increased the demand of the security and vulnerability management market. For example; according to Forbes, research shows there will be 35 billion smart devices online by 2021, and that number will rise to 75 billion by 2025.
In addition, the rising number of risks, cybercrime, and cyber threats are also boosting the market growth. A significant increase in cyber-crime and cyber threats has led to increased adoption of security management, vulnerability management, and risk management measures. In addition, with increasing cyber threats such as data breaches, service denials, and computer viruses, companies are increasingly implementing security and vulnerability measures to protect their confidential data from malicious activity. Furthermore, the increasing number of cyber threats and cyber-crimes has led to increase the deployment of risk management, vulnerability management, and security management. For instance; as indicated by the FBI's Internet Crime Report 2021, a record 847,376 complaints of digital cyber-crime were accounted for to the FBI by people in general, a 7 percent increment from 2020.
Moreover, the growing technological developments are also supplementing the market growth. Institutions adopt various technological developments such as enterprise mobility, virtualization, and cloud storage to increase business productivity. For example, in February 2021, Qualys expanded the power of Qualys VMDR to Android and iOS/iPadOS cell phones. Qualys' across-the-board VMDR solution gives top to bottom cell phone visibility, vulnerability assessment, posture observing, information security insights, and robotized reaction for all iOS and Android gadgets and installed applications. Qualys VMDR for versatile gives complete cell phone and application stock, continuous vulnerability assessment, real-time observing, and built-in response and fix organization.
However, the high installation cost and security breaches because of internal vulnerabilities may hinder the market growth. In spite of that, integration of advanced technologies with vulnerability management solutions for real-time risk-based security vulnerability prioritization and remediation may create more opportunities for the further growth of the market.
Geographically, North America is projected to dominate the global security and vulnerability management market due to the presence of a large number of end-user verticals and the increasing adoption of improved and advanced technologies in this region. For example; in March 2021, IBM extended its set-up of IBM Security Services for Cloud to help organizations adopt a reliable security technique across their hybrid cloud environments. IBM presented improvements in its services like cloud local security services, CSPM, container security, and cloud security. The improvements incorporated the coordination of its cloud security services with IBM Security X-Force Red vulnerability management, which would help in the investigation, identification, and prioritization of vulnerabilities inside client environments.
Asia Pacific is expected to show the fastest growth in the global security and vulnerability management market within the forecast period due to the increasing penetration of the internet and smartphones, rising number of cyber-attacks, and the growing adoption of security and vulnerability management solutions in this region. Increasing penetration of the internet and smartphones is driving the growth of the market growth in this region. For instance, according to India Brand Equity Foundation, on September 16th, 2021; Smartphone shipments are projected to reach 173 million in 2021, an increase of 14% over 2020 figures. In addition, the rising number of cyber-attacks is another factor to boost the market. For instance, according to CISO MAG EC-Council, on September 22nd, 2020; India has been the victim of 1, 44,496 cyber-attacks in the last three years.
The Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 11.26 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 21.38 Billion|
|Tables, Charts & Figures:||175|
|Security and Vulnerability Management Companies||F-Secure Corporation, IBM Corporation, Qualys, Inc., Check Point Software Technologies Ltd., Tripwire Inc. (Belden, Inc.), AT&T Cybersecurity (AT&T, Inc.)., Digital Defense, Inc. (Help Systems, LLC), Tenable, Inc., Skybox Security, Inc., Rapid7, Inc., and others.|
|Segments Covered||By Component, By Deployment Mode, By Organization Size, By Vertical|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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