Global Patch Management Market Research Report (2019 to 2030) - by Component, Deployment Type, Feature & Industry - ResearchAndMarkets.com

DUBLIN--()--The "Patch Management Market Research Report: By Component, Deployment Type, Feature, Industry - Global Industry Size, Share and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

From $535.4 million in 2019, the patch management market is expected to grow to $3,245.6 million by 2030, at a CAGR of 17.8% during 2020-2030 (forecast period).

The banking, financial services and insurance (BFSI) category led the market in 2019, among all industries, as the sector faces constant cyber threats from external as well as internal sources. This is leading to a strong focus on the adoption of vulnerability management and security solutions to secure customers' financial data.

The rapid automation of business processes is the key patch management market trend. IT automation helps in integrating various processes and tools, via automated workflow. The conventional process of patch management creates the need for extensive human engagement, in not only accomplishing the process, but also keeping the software products updated with the newest compliance standards and most recently launched features. Contrarily, automating the process provides consistency, improved security, and better system insights, which lead to enhanced protection for organizations.

The major driver for the growth of the patch management market is the increasing need to make the system less vulnerable to security threats. Due to the rising vulnerabilities, the IT system of companies is rapidly being hacked, with the intent of causing harm. The impact of such attacks on integrity, availability of data, confidentiality, and complexity of attacks can be studied to determine the severity of the vulnerabilities. Though the internet has opened doors of growth, it has also increased the risk of cyber-attacks.

During the forecast period, faster growth in the market would be experienced by the service category, based on component. This would be because of the fact that businesses around the world are increasing availing of maintenance, training, support, consulting, and other services related to patch management, to keep their security protocols up to date. In 2019, the healthcare sector held a significant revenue share, on the basis of end user, as the process delivers cyclic updates, which helps clinical systems prioritize their updates.

On the geographical basis, Asia-Pacific (APAC) and North America held over 60.0% share in the patch management market in 2019. North America is home to a large number of multinational enterprises, and its IT infrastructure is also rather developed. Due to the prevailing cyber-attack risk, companies in the region are rapidly adopting such solutions to reduce their vulnerability. Additionally, with the increasing need to update the security patches, the market is progressing in the region.

Companies Mentioned

  1. Qualys Inc.
  2. Ivanti Inc.
  3. Hewlett Packard Enterprise Company
  4. Microsoft Corporation
  5. Avast Software s.r.o
  6. SolarWinds Corporation
  7. Symantec Corporation
  8. International Business Machines (IBM) Corporation
  9. Micro Focus International plc
  10. ManageEngine

Key Topics Covered:

1. Research Background

2. Research Methodology

3. Executive Summary

4. Introduction

4.1 Definition of Market Segments

4.1.1 By Component

4.1.1.1 Software

4.1.1.2 Services

4.1.1.2.1 Training

4.1.1.2.2 Consulting

4.1.1.2.3 Integration and support

4.1.1.2.4 Others

4.1.2 By Deployment Type

4.1.2.1 Cloud

4.1.2.2 On-Premises

4.1.3 By Feature

4.1.3.1 Vulnerability management

4.1.3.2 Compliance management

4.1.4 By Industry

4.1.4.1 BFSI

4.1.4.2 IT & telecom

4.1.4.3 Government

4.1.4.4 Healthcare

4.1.4.5 Retail

4.1.4.6 Education

4.1.4.7 Others

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Shift of businesses toward automation

4.3.2 Drivers

4.3.2.1 Growing demand for up-to-date OS/applications

4.3.2.2 Increasing need to mitigate vulnerabilities in software

4.3.2.3 Impact analysis of drivers on market forecast

4.3.3 Restraints

4.3.3.1 Lack of awareness about cyber-security

4.3.3.2 Impact analysis of restraints on market forecast

4.3.4 Opportunities

4.3.4.1 Increasing market for web and mobile applications

4.4 Porter's Five Forces Analysis

4.4.1 Bargaining Power of Buyers

4.4.2 Bargaining Power of Suppliers

4.4.3 Intensity of Rivalry

4.4.4 Threat of New Entrants

4.4.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast

5.1 By Component

5.1.1 Patch Management Service Market, By Type

5.2 By Deployment Type

5.3 By Feature

5.4 By Industry

5.5 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. RoW Market Size and Forecast

Chapter 10. Competitive Landscape

10.1 List of Market Players and Their Offerings

10.2 Market Share Analysis of Key Players

10.3 Competitive Benchmarking of Key Players

10.4 Strategic Developments of Market Players

10.4.1 Mergers and Acquisitions

10.4.2 Partnerships

10.4.3 Product Launches

Chapter 11. Company Profiles

Chapter 12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/3381f5

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900