Security and Vulnerability Management Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand (ANZ), South Korea, Southeast Asia, Brazil, Mexico, Argentina, Colombia, South Africa, UAE, Saudi Arabia, Israel) Industrial analysis report, Growth Potential, 2020 - 2026
Report ID: GMI4727
Security and Vulnerability Management Market size is predicted to grow at a rapid pace through 2026. Security and vulnerability management is a process to identify, treat, evaluate, and report security vulnerabilities in the system. Growth in the market is attributed to increase in cyber-attacks, the need to provide increased security, and identifying the level of risks on the network. Security and vulnerability management is rapidly gaining traction as many enterprises are focusing on data security to ensure business continuity and make data-driven decisions.
Security and vulnerability management provides a mechanism using which enterprises analyze the risk factors and the risk involved can be reduced. These risks include cyber-attacks such as data breaches, hacking, and malware attacks. The increased adoption of third-party platforms including SaaS and cloud storage has also accentuated the threat of network exposure that can be countered using security and vulnerability management. Security and Vulnerability Management provides increased security and new approaches to handle threats by identifying the potential/existing threats in the network.
Based on component, the security and vulnerability management market is segmented into solutions and services. The solutions are further segmented into security information, policy & compliance, forensic & incident investigation, device vulnerability assessment, and application vulnerability assessment. The services are further segmented into consulting, system integration, and maintenance. SQL injection and Cross-site Scripting (XSS) are some of the common code injection attacks, which are used by hackers. For instance, in 2017, more than 60 university websites were under SQL injection attack all around the world. There are various third-party platforms that provide solutions to such threats. For instance, Imperva, Inc. is a third-party platform that mitigates such threats by vulnerability assessment using application scans, database assessment, n/w, and wireless & host assessments.
Based on organization size, the security and vulnerability management market is segmented into large enterprises and Small & Medium Enterprises (SMEs). SMEs are more exposed to network risks due to limited deployment of cybersecurity solutions and strained IT resources, leading to the growth of the market in this segment. For instance, Qualys, Inc. provides security and vulnerability management to smaller businesses and is currently serving over 11,000 customers in 130 countries, which underpins the usage of security and vulnerability management services by SMEs.
Based on deployment, the security and vulnerability management market is segmented into on-cloud and on-premise. A company using the on-premise model is in complete control of the data security. On the other hand, the security of data in the cloud model is managed by a third-party provider. Therefore, businesses in highly regulated sectors, such as healthcare and banking sectors, are more inclined toward cloud services as the data is sensitive. In addition, there are certain regulations that these businesses need to follow to operate in these sectors. Cloud providers are offering services that are aligned with those regulations.
Based on end-use, the security and vulnerability management market is segmented into BFSI, life sciences & healthcare, retail, manufacturing, and IT & telecommunication. The banking sector is promptly incorporating security and vulnerability management in their systems to regularly check for security threats as the data is highly confidential. For instance, in 2019, the Reserve Bank of India (RBI) issued a notice to banks after it was revealed that the data of 1.3 million credit & debit cards was on sale on the dark web. Such recent incidents have led to the market growth of security and vulnerability management in the BFSI sector.
North America is expected to be the largest market during the forecast period due to the presence of leaders in the region such as McaFee, LLC, and IBM Corporation. The market growth is also triggered by the increase in the number of cyber-attacks in the region and growing concern over data security. For instance, in 2019, Blur Studio reported a data breach in which the information of 2.4 million users was exposed. Data privacy laws and government regulations have also driven companies to implement security and vulnerability management in their systems.
Leaders in the market are constantly developing innovative solutions and expanding their portfolio to counter the existing cybersecurity problems. For instance, in November 2018, IBM launched QRadar and Watson that will provide new capabilities for its AI security platform. It would help the platform in understanding cybercriminal behavior by evaluating the attacks. Major players in the security and vulnerability management market are IBM Corporation, Tripwire, Inc., McAfee, Inc., NetIQ Corporation, Alien Vault, Inc., Skybox Security, Inc., Tenable, Inc., HelpSystems, Rapid7LLC, ReadSeal, Inc., Qualys, Inc., Belden, Inc., Digital Defense, Inc., PT GLOBAL SOLUTIONS LTD., and Flexera.
Market by Component, 2015 - 2026 (USD Million)
- Security Information
- Policy and Compliance
- Forensic and Incident Investigation
- Device Vulnerability Assessment
- Application Vulnerability Assessment
- System Integration
Market by Deployment, 2015 - 2026 (USD Million)
Market by Organization Size, 2015 - 2026 (USD Million)
- Large Enterprises
Market by End-Use, 2015 - 2026 (USD Million)
- Banking Financial Services and Insurance (BFSI)
- Life Sciences & Healthcare
- IT & Telecommunication
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Alien Vault, Inc.
- Belden, Inc.
- Digital Defense, Inc.
- IBM Corporation
- McAfee, Inc.
- NetIQ Corporation
- PT GLOBAL SOLUTIONS LTD.
- Qualys, Inc.
- Rapid7 LLC
- ReadSeal, Inc.
- Skybox Security, Inc.
- Tripwire, Inc.
- Tenable, Inc.
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