Global Security and Vulnerability Management Market 2023-2030

Global Security and Vulnerability Management Market 2023-2030

Global Security and Vulnerability Management Market Size, Share & Trends Analysis Report by Size of the Organization (Small and Medium Enterprises, and Large Enterprises), and by Deployment Mode (Cloud, and On-Premises), by End-user Vertical (Aerospace, Defense, and Intelligence, BFSI, Healthcare, Manufacturing, Retail, IT and Telecommunication, and Others), Forecast Period (2023-2030)

The global security and vulnerability management market is anticipated to grow at a CAGR of 10% during the forecast period (2023-2030). The market’s growth is attributed to incidents involving high profile security across the globe. The increased number of data breaches and cyberattacks demonstrate the value of proactively managing potential vulnerabilities in order to prevent expensive security incidents. Moreover, the growing prevalence of Internet of Things (IoT) devices presents additional security difficulties, which necessitate comprehensive security solutions that involve vulnerability management. Furthermore integrated testing and policy-driven orchestration improve Application Security Posture Management (ASPM) with Synopsys Software Risk Manager. For instance, in August 2023, Synopsys, Inc. launched Synopsys Software Risk Manager, a powerful new application security posture management (ASPM) solution. Software Risk Manager allows security and development teams simplify, coordinate, and optimize their application security testing across projects, teams, and application security testing (AST) technologies. It integrates market-leading SAST and SCA engines from the Synopsys Software Integrity Group with advanced policy-driven orchestration and vulnerability management capabilities, and it offers extensive support for other open-source and profitable AST tools. The ASPM solution offers Synopsys improves the ability to apply application security reliably throughout a company.

Segmental Outlook

The global Security and vulnerability management market is segmented on the size of the organization, deployment mode, and end-user vertical. Based on the size of the organization, the market is sub-segmented into small and medium enterprises, and large enterprises. Based on the deployment mode, the market is sub-segmented into cloud, and on-premises. Furthermore, on the basis of end-user vertical, the market is sub-segmented aerospace, defense, and intelligence, BFSI

healthcare, manufacturing, retail, it and telecommunication, and others. The BFSI subcategory is expected to capture a significant portion of the market share within the end-user vertical segment. This is attributed to the increase in the cost of corrective actions in addition to the loss of essential customer information.

The Cloud Sub-Segment is Anticipated to Hold a Considerable Share of the Global Security and Vulnerability Management Market

Among the deployment mode, the cloud sub-segment is expected to hold a considerable share of the global security and vulnerability management market. The segmental growth is attributed to the assessment of cloud security. The module probably performs comprehensive examinations of a company's cloud infrastructure to identify any possible vulnerabilities or erroneous configurations. It can appear for problems with data encryption, access limits, and adherence to security best practices. For instance, in May 2023, WithSecure launched a new module for its WithSecure Elements security platform that identifies the vulnerable cloud deployments attackers use to access networks.

Regional Outlook

The global Security and vulnerability management market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the absorption of technology and increased urbanization in these regions is expected to increase the potential market for security and vulnerability management.

The North America Region is Expected to Grow at a Significant CAGR in the Global Security and Vulnerability Management Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to increased cyber threats across the region. The constantly changing perspective of cyber attacks exposes companies across the globe at significant risk. Cyberattacks and prominent data thefts highlight the significance of strong security measures, including vulnerability management. According to US Bureau of Labor Statistics, in September 2023,information security analysts' employment is expected to increase by 32 percent between 2022 and 2032, that's significantly higher than the average for all occupations. Over the next ten years, there are expected to be, on average, 16,800 openings for information security analysts. The need to replace workers that change careers or exit the workforce owing to retirement is predicted to cause a large portion of those openings.

Market Players Outlook

The major companies serving the security and vulnerability management market include Fortra, Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., IBM Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, New Relic introduced New Relic Vulnerability Management to aid companies in identifying and solving security problems more rapidly and accurately.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global security and vulnerability management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.