Security and Vulnerability Management Market projected to reach USD 21.38 Billion by 2028 - Exclusive Report by Brandessence Market Research

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Brandessence Market Research and Consulting Private Limited

Jul 07, 2022, 09:10 ET

LONDON, July 7, 2022 /PRNewswire/ -- 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. Security And Vulnerability Management Market Size, Share, Companies & Trends Analysis Report By Component (Services, Software) By Deployment Mode (On-Premises, Cloud) By Organization Size (SMEs, Large Enterprises) By Vertical (IT &Telecom, Energy & Utility, BFSI, Retail, Healthcare, Manufacturing) Based On Region, And Segment Forecasts, 2022 - 2028.

The global security and vulnerability management market is expected to show a decent amount of growth in the coming years. The biggest force which is leading to this kind of growth is the increase in the vulnerabilities all over the world. This leads to an increasing vulnerability all over the world and the higher number of monetary losses because of the absence of the solutions with regard to the security and vulnerability management, stringent standards of regulations and data privacy compliances. The surging adoption of cloud and internet of things trends and integrating the advanced technologies like the ML and AI with the security solutions. 

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Security and Vulnerability Management: Competitive Analysis 

The global security and vulnerability management market companies 2021 are IBM, AT&T, Qualys, Rapid7, Tenable, RSA Security, McAfee, Foreseeti, F-Secure, Acunetix, Skybox Security, SecPod, Tripwire, Kenna Security, Check Point, Expanse, Digital Defense, Positive Technologies, Outpost24, Brinqa, NopSec, RiskIQ, RiskSense, Claroty, Holm Security, Balbix, Intruder, BreachLock, and Nucleus Security. The global security and vulnerability management market players have invested heavily in technology in order to make their products more friendly for the users which can be managed by the lesser skilled people.

  • F-Secure Corporation
  • IBM Corporation
  • Qualys, Inc.
  • Check Point Software Technologies
  • Tripwire Inc. (Belden, Inc.)
  • AT&T Cybersecurity (AT&T, Inc.)
  • Digital Defense
  • Tenable
  • Skybox Security
  • Rapid7, Inc.
  • others

Security and Vulnerability Management: Key Drivers 

The global security and vulnerability management market growth is driven by multiple factors. Among the most important factors here is that the organizations are increasingly adopting various technological developments like the enterprise mobility, cloud storage and virtualization for boosting the productivity of their business. These are progressions which have helped the organizations function efficiently and in real time as the business data can be accessed easily on the mobile devices from visual and cloud storages.  

Though, this access does allow the loss of data and puts data at the risk of theft. The vulnerability management solutions help these organizations in detecting the misconfigurations when it comes to a strong password policy, web server hardening, firewall port access, and other several anti-detection solutions along with the privileges of administrative authorization. The global security and vulnerability management market size is going to grow with these growth drivers.  

Security and Vulnerability Management: Key Trends  

Because of an increase in the COVID 19 cases, the businesses had sent the employees home for working remotely and the students too are now moving to the online classes. The organizations have been rushing to shift their classes and businesses online. This is also giving impetus to the cybercriminals to ramp their tactics up for taking an advantage of those who might have naïve or inadequate security postures as the result. The pandemic has been used by scammers into opening malicious emails. Therefore, in order to avoid the confidential information loss communicated, vulnerability and security management is a safer choice for the industries to choose.  

Phishing is a modern-day issue which is forcing companies to ramp their security up. The financial loss is causing the organizations to deploy the security and vulnerability management solutions to protect the secure environments. The internal vulnerabilities include the insider threats, incapable workers, employees which are recruited by competitors to corrupt data of companies, disgruntled employees as well as employees who use this data for their personal gains. The SQL injection, email phishing and MITM are some of the major attacks with which the cybercriminals accomplish goals which are financially motivated. More often, the internal vulnerabilities as well as the breaches go on to be undetected and companies don't report the losses because of their reputation in the ecosystem as they perceive these cases as an incident which could be embarrassing. The global security and vulnerability management market trends are based on the impact the coronavirus pandemic has had on the market. The pandemic has affected all segments of the society which includes businesses and individuals. 

The internet ecosystem has played a role importantly in the world. Because of the pandemic, there is a dependency on the online businesses which has significantly increased. Healthcare and life sciences, retail, transport and logistics, manufacturing and others have been leveraging internet for providing the necessary services to all consumers. The vendors are experiencing an increase in demand for the security and management systems. In the pandemic crisis, many governments and regulatory authorities have mandated both the private and public enterprises to embrace the new teleworking practicing and maintaining social distances. Ever since, the digital ways of doing the businesses and use of emails with the home servers are becoming the new BCP for many organizations.  

As the widespread use of mobile devices and internet penetration happens across the globe, individuals which are progressively inclined towards usage of the security and vulnerability management 2022.These trends are changing and distributed IT environments are making organizations susceptible to data breaches and cyber-attacks as it further fuels the demand for solutions related security and vulnerability management.

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Recent Developments

News- Tenable Acquired Cloud Security Startup Accurics for $160 Million.

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.

Digital Defense Expanded Reach into the SA, the UK with Private Protocol Partnership

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.

AT&T Cybersecurity Launched Managed SASE Solution

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.

Security and Vulnerability Management: Segmentation Analysis

The segmentation of global security and vulnerability management market has been expected to grow in the coming years with the healthcare segment growing at the highest. The healthcare segment is going to see the highest amount of growth in the coming years as the healthcare and identity breaches are increasing and they are key information, so they need a robust system to detect the risks, maintenance of logs and users are used for accessing the confidential data and access control for the cyber threat investigation has also been required. This is a requirement which has been fulfilled with the management solutions. 

Security and Vulnerability Management: Regional Analysis

In terms of region, the global security and vulnerability management market has been expected to do best in the North American region and the reasons for that is the early adoption of the Security and Vulnerability Management and presence of many vendors which provide the Security and Vulnerability Management solutions will be expected to drive the market growth in North America. The high risk of commercial espionage is creating a favorable market situation in this region.

On Special Requirement Security and Vulnerability Management Market Report is also available for below region: 

North America 

  • U.S, Canada

Europe 

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific 

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America 

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa 

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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