Security and Vulnerability Management Market Size

Statistics for the 2023 & 2024 Security and Vulnerability Management market size, created by Mordor Intelligence™ Industry Reports. Security and Vulnerability Management size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Security and Vulnerability Management Industry

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Security and Vulnerability Management Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 14.45 Billion
Market Size (2029) USD 21.65 Billion
CAGR (2024 - 2029) 7.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Security & Vulnerability Management Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Security and Vulnerability Management Market Analysis

The Security and Vulnerability Management Market size is estimated at USD 14.45 billion in 2024, and is expected to reach USD 21.65 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).

  • The task of defending against the continuous breach of information security lies with organizations in all sectors. Security professionals must continue to keep pace with the risks and leverage technologies, policies, and procedures that safeguard them against an incoming attack and secure sensitive data. This has led to the growth of the market.
  • Also, as organizations accelerate their digital transformation initiatives, they need to quickly make changes to their core business applications without compromising security across on-premise, SDN, and cloud environments. To manage this process, IT and security teams must be able to see the whole network infrastructure and have fine-grained control over it.
  • As per the Center for Strategic and International Studies and McAfee, cybercrimes, which include damage and destruction of data, stolen money, lost property, theft of intellectual property, and other areas, currently cost the world almost USD 600 billion each year, or 0.8% of global GDP. Such factors are expected to increase the growth of security and vulnerability management software and services.
  • BYOD trends have become more and more common in workplaces as a result of the advent of mobile devices and high-speed Internet. For example, according to Dell, about 60% of employees use a smartphone for work. Such trends are further increasing the market growth for user authentication.
  • The cyber-world is likely to see an increase in the occurrence and spread of new threats and attacks as more devices are getting connected to the Internet. The WannaCry and Petya attacks, which affected over 150 countries worldwide, have highlighted the vulnerability of devices as endpoints.
  • In view of the COVID-19 pandemic, organizations of all sizes have undertaken initiatives for the quick establishment of remote working schemes to enable staff to work from their homes in order to prevent infection. This means setting up remote connectivity systems and security apparatuses such as VPNs (Virtual Private Networks), Citrix Virtual Desktop servers, remote desktop connections, file sharing, FTP servers, and several more. This presents some challenges as well as opportunities for the vendors.

Security and Vulnerability Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)