Patch Management Market, by Component (Software, Service), Deployment (Cloud, On-Premises), Vertical (BFSI, Government and Defense, IT and Telecom), and Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) — Market Size and Forecasting (2021–2030)

The Patch Management Market valued USD XX billion in 2020. The patch management market is estimated to reach USD XX billion by 2030 with a CAGR of XX% over the forecast period.

Patch management is performed to resolve software system version issues. It analyzes current software programs and detects new security flaws or other enhancements. The major factors driving the market growth are the increasing adoption of third-party applications. The need to improve productivity and reduce system-related failures is expected to drive market growth.

Unpatched software flaws threaten the system security, which is critical for businesses and organizations. According to a study by Ponemon Institute, 57% of data breaches are caused due to poor patch management. Growing incidents of data breaches and cyberattacks are estimated to fuel the market demand. However, concerns related to application stability and patch checking can restrain the market growth.

Patch Management Market

Patch Management Market

Patch Management Market, by Component

Based on component, the market is divided into software and services. The software segment is expected to dominate the market during the forecast period. Increasing digitalization have led the enterprises to deploy cloud-based applications. It is increasingly becoming essential for organizations to ensure security of their software applications and operating systems from cyberattacks. The increasing demand is expected to drive the segment growth

The service segment is expected to observe significant growth during the forecast period. The service segment is divided into consulting, and support and integration. The support and integration segment is expected to hold the largest market share over the forecast period. Support and integration-based patch management provide resources and advanced technology to ensure that the vital systems are running at peak performance safely and reliably. It has led to high demand from businesses, which is expected to contribute to segment growth.

Patch Management Market, by Deployment

Based on deployment, the market is divided into cloud and on-premises. The on-premises segment is expected to hold the largest market share over the forecast period. Businesses with on-premises systems have full control over their platforms, applications, processes, and data. On-premise is the most widely preferred deployment.

Patch Management Market, by Vertical

Based on vertical, the market is divided into BFSI, government and defense, and IT and telecom. The BFSI segment is expected to account for the largest market share over the forecast period. The segment growth can be attributed to presence of various patch management service providers offering services particularly designed for the BFSI industry. The BSFI industry deals with large volumes of sensitive and private financial data and thus needs patch management to address security flaws.

Patch Management Market, by Region

Based on region, the market is segmented into North America, Europe, the Asia-Pacific, the Middle East and Africa, and South America.

North America is expected to account for the largest market share over the forecast period. The market growth can be attributed to well-established IT infrastructure. The presence of a large number of enterprises and the availability of technical experts has led to the regional market growth.

Europe is expected to observe significant growth over the forecast period. The increasing awareness regarding cybersecurity is driving the regional market. Increasing number of operating system (OS) and application users has led to the widespread adoption of patch management solutions.

Asia-Pacific is estimated to grow significantly during the forecast period. The market growth can be due to the presence of several small and medium enterprises (SMEs). SMEs are growing at an astonishing rate due to the rapid development of IT infrastructure and the availability of high-speed internet. Although SMEs are leveraging digital technologies in the region, they are faced with challenges regarding evolving security and compliance standards. The need to keep systems updated to meet security requirements is ever increasing. It has led to the increased adoption of cloud-based services. Work-from-home due to COVID-19 induced curfews and temporary lockdowns has led to more companies opting for patch management services in India. It is expected to drive the regional market over the forecast period.

Some Major Developments in the Patch Management Market

  • In March 2021, Ivanti Pulse Secure announced a patch for a "Critical"-rated vulnerability (CVE-2021-22893) in its Pulse Connect Secure VPN appliances
  • In April 2021, Qualys, Inc., a leading provider of disruptive cloud-based IT, announced plans to expand its vision of providing vulnerability detection and response through a single platform
  • In May 2021, Syxsense raised investment to fast-track its growth in Intelligent Automation of IT, Security Vulnerability Scans. Syxsense, Patch Management
  • In May 2021, Pulseway, a leader cloud-based remote monitoring and management (RMM) software, announced the launch of Pulseway Patch
  • In May 2021, Cisco announced plans to acquire Kenna Security, Inc., a privately held cyber security company from Santa Clara, Calif
  • In February 2019, Qualys Inc., unveiled Patch Management (PM), a cloud application that offers unconventional capabilities for automated patch deployment
  • In February 2019, IBM collaborated with Qualys to integrate Qualys’s patch management solution with IBM’s X-Force Red’s vulnerability management services
  • In February 2019, Micro Focus acquired Interset, a Machine Learning (ML) and User and Entity Behavior Analytics (UEBA) application provider to strengthen the cybersecurity portfolio of Micro Focus by leveraging key attributes of Interset’s technology
  • In April 2019, SolarWinds enhanced its SolarWinds MSP product portfolio by adding patch management for Mac capabilities.

Patch Management Market

Patch Management Market fig 2

What Does this Report Provide?

The patch management market report offers unique qualitative and quantitative perspective on the market demand. The report also offers a thorough analysis of the prominent companies functioning in the patch management market. Dynamic indicators are studied in the report along with assessment of potential impact on the market over the projected period.

This report also includes the market share of the key producers, their production capacities, and the growth strategies adopted by them. The major market drivers, growth restraining factors, and future growth possibilities for the market have been covered in the report.

Major Companies: The key player operating in the market include Microsoft, IBM, Symantec, Qualys, Micro Focus, SolarWinds, ManageEngine, Ivanti, ConnectWise, Automox, Avast, GFI Software, Chef Software, Jamf, SysAid Technologies

Market Segmentation

By Component

  • Software
  • Services
  • Consulting
  • Support and Integration

By Deployment

  • Cloud
  • On-Premises

By Vertical

  • BFSI
  • Government and Defense
  • IT and Telecom

By Region:

North America Patch Management Market

  • North America, by Country
    • U.S
    • Canada
    • Mexico
  • North America, by Component
  • North America, by Deployment
  • North America, by Vertical

Europe Patch Management Market

  • Europe, by Country
    • Germany
    • Russia
    • The U.K.
    • France
    • Italy
    • Spain
    • The Netherlands
    • Rest of Europe
  • Europe, by Component
  • Europe, by Deployment
  • Europe, by Vertical

 Asia-Pacific Patch Management Market

  • Asia-Pacific, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Rest of Asia-Pacific
  • Asia-Pacific, by Component
  • Asia-Pacific, by Deployment
  • Asia-Pacific, by Vertical

 Middle East and Africa Patch Management Market

  • The Middle East and Africa, by Country
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East and Africa
  • Middle East and Africa, by Component
  • Middle East and Africa, by Deployment
  • Middle East and Africa, by Vertical

 South America Patch Management Market

  • South America, by Country
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • South America, by Component
  • South America, by Deployment
  • South America, by Vertical

Objectives of This Report:

  • To offer estimated values for the patch management market
  • To classify segments of the patch management market and evaluate their market shares and demand
  • To offer a view of recent strategic developments and investments of key players and study the competitive landscape of the patch management market in the historic years
  • To evaluate growth factors governing the dynamics of patch management market with their potential gravity over the forecast period
  • To assess the important company-wise pricing analysis for the mentioned applications

Reasons to Buy This Report:

  • Provides niche insights for decision about every possible segment helping in strategic decision-making process.
  • Market size estimation of the Patch management market on a regional and global basis.
  • A unique research design for market size estimation and forecast.
  • Identification of major companies operating in the market with related developments
  • Exhaustive scope to cover all the possible segments helping every stakeholder in the Patch management market.

Customization:

This study is customized to meet your specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country
  • Product Specific Competitive Analysis

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