Security and Vulnerability Management Market - Growth, Trends, and Forecast (2019 - 2024)

The Security and Vulnerability Management Market is Segmented by the Size of Organization (Small and Medium Enterprises, Large Enterprises), End-user Vertical (Aerospace, Defense and Intelligence, BFSI) and Geography.

Market Snapshot

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Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

10%

Key Players:

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Market Overview

The security and vulnerability management market is expected to register a CAGR of 10%, over the forecast period (2019-2024). As the current cybersecurity threat landscape is uniformly evolving, organizations need to be proactive in their threat and vulnerability management efforts. The efficiency of vulnerability management depends on the organization’s ability to keep up with current security threats and trends.

  • Recent security attacks have increased the need for a robust cybersecurity management system, which is centered around a tough policy and applies many technologies to achieve defense in depth.
  • Coupled with rapid growth in the number of cyber-attacks, the demand for strict acquiescence and security packages to protect confidential data across different verticals, such as government, banking, retail, manufacturing, among others, is increasing and is expected to drive the growth of the market over the forecast period. 
  • Data breaches result in increased costs for preventive measures to manage the impact of theft and loss of valuable customer information. As a result, the market has garnered demand due to the increasing awareness among users. 

Scope of the Report

Security and vulnerability management is the practice of identifying, classifying, and mitigating vulnerabilities in networking software or hardware. It has become an integral part of an enterprise’s security in recent years. Vulnerability management utilizes technology that seeks out security flaws and tests systems for weak points, allowing the clients to identify and quantify where the network is at risk and to prevent unnecessary weak points. These factors are expected to increase the demand for these solutions.
 

By Size of the Organization
Small and Medium Enterprises
Large Enterprises
By End-user Vertical
Aerospace, Defense, and Intelligence
BFSI
Healthcare
Manufacturing
Retail
IT and Telecommunication
Other End-user Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

BFSI Segment is Expected to Hold the Major Market Share

  • The BFSI sector is faced with a number of data breaches and cyber attacks, owing to the large customer base that the industry serves. Data breaches result in the increased corrective measures costs and loss of valuable customer information. For instance, in the recent past, Taiwan’s Far Eastern International Bank incurred a loss of around 60 million by malware. 
  • With the aim to secure IT processes and systems, secure customer critical data, and comply with government regulations, both private and public banking institutes are focused on implementing the latest technology to prevent cyber-attacks. 
  • The growing technological penetration, coupled with digital channels, such as internet banking, mobile banking, becoming the preferred choice of customers for banking services, there is a greater need for banks to leverage advanced authentication and access control processes.
     
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Asia-Pacific is Expected to Grow at the Fastest Rate

  • Huge population base and accessibility to the internet has helped Asia-Pacific emerge as a market prone to cyber threats. Most of the countries in the region has not a very evolved cybersecurity regulations. For instance, Indonesia is a world leader in VPN usage, in terms of the present population with its application across the region. Further, the increasing penetration of the internet has made it highly vulnerable to cyber-attacks. 
  • However, there remains a huge gap in cybercrime legislation compared to that in North America and Europe, where the lack of awareness and knowledge of basic security make most of these online transactions highly susceptible to digital theft.
  • With large MNCs rushing to invest, the region is now witnessing increased spending in cybersecurity solutions, particularly in SMBs and large organizations. Businesses that have other MNCs as a part of the value chain have also assisted in the adoption, in the region. This is expected to continue to drive the demand.
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Competitive Landscape

The security and vulnerability management market is moderately competitive and consists of several major players. Most of the players currently dominate the market. However, with innovative and sustainable packaging, most of the companies are increasing their market presence. Thereby expanding their business footprint by tapping new markets.

  • June 2018 - Symantec Corp. announced new innovations and enhancements to its Network Security for the Cloud Generation solution, designed to protect enterprise devices, anywhere their employees work or travel, across the network, the cloud, mobile, and traditional endpoints.
  • November 2017 - IBM announced the successful testing of a fully-integrated Wavelength Division Multiplexing (WDM) Si photonics chip for Big Data and cloud services, enabling the downloading of an entire HD digital movie in two seconds.

Major Players

  1. IBM Corporation
  2. Qualys Inc.
  3. Hewlett Packard Enterprise Company
  4. Dell EMC
  5. Symantec Corporation

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increasing Number of Cyber-attacks

      2. 4.3.2 Growing Adoption of Cloud Computing by Enterprises

    4. 4.4 Market Restraints

      1. 4.4.1 Lack of Awareness about SVM Solutions

      2. 4.4.2 Scalability and Deployment Costs

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Size of the Organization

      1. 5.1.1 Small and Medium Enterprises

      2. 5.1.2 Large Enterprises

    2. 5.2 By End-user Vertical

      1. 5.2.1 Aerospace, Defense, and Intelligence

      2. 5.2.2 BFSI

      3. 5.2.3 Healthcare

      4. 5.2.4 Manufacturing

      5. 5.2.5 Retail

      6. 5.2.6 IT and Telecommunication

      7. 5.2.7 Other End-user Verticals

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 IBM Corporation

      2. 6.1.2 Qualys Inc.

      3. 6.1.3 Hewlett Packard Enterprise Company

      4. 6.1.4 Dell EMC

      5. 6.1.5 Tripwire Inc.

      6. 6.1.6 Symantec Corporation

      7. 6.1.7 McAfee Inc.

      8. 6.1.8 Micro Focus International PLC

      9. 6.1.9 Rapid7 Inc.

      10. 6.1.10 Fujitsu Limited

      11. 6.1.11 Alien Vault Inc.

      12. 6.1.12 Skybox Security Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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