DUBLIN--(BUSINESS WIRE)--The "Security and Vulnerability Management Market by Target, Deployment Mode (Cloud and on-premises), Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global security and vulnerability management market size is expected to grow from USD 12,451 million in 2020 to USD 15,497 million by 2025, at a CAGR of 4.5% from 2020 to 2025.
Increasing vulnerabilities across the globe, growing deployment of third-party applications, and hefty fines due to the absence of vulnerability management solutions are the primary factors that would drive the demand for the security and vulnerability management industry during the forecast.
Application Programming Interface (API) vulnerabilities segment to grow at the highest CAGR during the forecast period
Security and vulnerability management solutions and services are responsible for securing critical Application Programming Interfaces (APIs) used for accessing data of an enterprise through digital channels, such as mobile applications, cloud, and Internet of Things (IoT) devices. They facilitate regulatory compliance and enhanced API security required in the development, deployment, management, and operations of APIs. APIs can become a major point of vulnerability for an organization, as they offer programmatic access to external developers or hackers to exploit business logic flows within APIs. With the growing number of advanced cyberattacks on APIs, organizations worldwide are adopting security and vulnerability management solutions, thereby driving the security and vulnerability management market growth.
Cloud segment to hold a higher market share during the forecast period
Security and vulnerability management solutions are deployed using two modes: on-premises and cloud. Depending on the requirements of organizations as well as users, companies can decide between cloud and on-premises deployment modes. Cloud-based deployment provides organizations with benefits, such as increased scalability, speed, 24/7 services, and improved IT security. The demand for Software as a Service (SaaS)-based security solutions is growing rapidly, as the central delivery model meets IT security needs. The cost-effectiveness and scalability of the cloud deployment mode are expected to boost the growth of cloud-based security and vulnerability management solutions. Owing to the increasing number of applications being deployed via the cloud, there is a shift from the traditional on-premises security and vulnerability management solutions to the cloud-based security and vulnerability management solutions across large enterprises and Small and Medium-sized Enterprises (SMEs).
Large enterprises segment to grow at a higher CAGR during the forecast period
Based on organization size, the security and vulnerability management market has been segmented into SMEs and large enterprises. Large enterprises are the early adopters of threat intelligence solutions, as they use a large number of business applications that are susceptible to the increasing cyberattacks. Vast volumes of data, along with various business applications and processes of enterprises, involve an elevated level of complexities and distributed environments. The large enterprises prefer implementing solutions that can provide them with assistance in increasing their profits. These enterprises have their offices across regions due to which they offer their solutions to their employees through real-time data access.
North America to hold the largest market size during the forecast period
North America is a technologically advanced region and is considered to be a leader in the global cybersecurity market due to the presence of major security vendors. The region is also considered to be a leader in the field of security and vulnerability management technology. North America is highly regulated and controlled by various government standards and regulations. The major economies in this region are the US and Canada. The US and Canada have been expansively implementing security and vulnerability management solutions to comply with regulations and improve security for better troubleshooting.
As the world is moving toward digitalization, protecting enterprise-critical infrastructure, information, and sensitive data has become one of the major challenges for organizations. The increasing adoption of cloud-based applications, technologies, and platforms has further increased the demand for enhanced security solutions for these platforms.
- Increasing Vulnerabilities Across the Globe
- Growing Deployment of Third-Party Applications
- Enterprises Pay Large Sums as Compensation Due to Absence of Vulnerability Management Solutions
- Security Breaches Due to Internal Vulnerabilities
- Widespread Adoption of the Industrial Revolution
- Integration of Vulnerability Management and Patch Management Solutions
- Inappropriately Prioritizing Risks
- Regularizing the Organization's Vulnerability Management Program
- Skybox Security
- Check Point
- Digital Defense
- Kenna Security
- Outpost 24
- Risk Sense
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