According to a research report “Security and Vulnerability Management Market by Target, Deployment Mode (Cloud and on-premises), Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region – Global Forecast to 2025″ published by MarketsandMarkets, The global security and vulnerability management market size is expected to grow from USD 12.5 billion in 2020 to USD 15.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.5% from 2020 to 2025.
The growth in the market can be attributed to the increasing number of cyberattacks, growing cyber awareness across developing economies, and rising mandates for adhering to regulatory compliances across organizations operating in various verticals.
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By target, the content management system vulnerabilities segment to hold the largest market size in 2020
Content management systems are typically used for defining, sourcing, integrating, storing, and effectively retrieving, and reconciling massive amounts of documents. Content management system vulnerabilities are being increasingly exposed to exploitations due to the growing traction of these systems used across large enterprises to manage their voluminous content on daily basis. On the other hand, growth of digitalization, eCommerce, Bring Your Own Device (BYOD), and Work From Home (WFH) practices have increased the amount of content generated in inter- and intra-organizations. The advent of globalization and internet age has made the world a smaller place and has given rise to digital enterprises. The content generated can be regarded as the backbone for this digital transformation. These trends are expected to spur the adoption of security and vulnerability management solutions and services over the forecast years.
By deployment mode, the cloud segment to grow at a higher rate during the forecast period
The cloud-based deployment mode provides organizations with benefits, such as increased scalability, speed, 24/7 services, and improved IT security. The demand for Software as a Service (SaaS)-based security solutions is rapidly increasing, as the central delivery model meets IT security needs. The cost-effectiveness and scalability of the cloud deployment mode are expected to boost the growth of cloud-based security and vulnerability management solutions. Owing to the increasing number of applications being deployed in the cloud, there is a shift from the traditional on-premises security and vulnerability management solutions to cloud-based security and vulnerability management solutions across large enterprises and Small and Medium-sized Enterprises (SMEs).
North America to dominate the market during the forecast period
The deep penetration of internet applications and rise in the number of vulnerable devices in North America gives rise to different vulnerabilities causing miscellaneous ransomware attacks. This is evident from the fact that the HIMSS Healthcare and Cross-Sector Cybersecurity report published in 2018, identified flaws with Intel Central Processing Unit (CPU) hardware making it vulnerable to side-channel attacks. To curb financial losses due to these vulnerabilities, organizations in this region are implementing security and vulnerability management solutions, which would drive the growth of the market.
The major vendors covered in the global security and vulnerability management market include IBM (US), AT&T (US), Qualys (US), McAfee (US), Rapid7 (US), RSA (US), Tenable (US), F-secure (Finland), Acunetix (Malta), Skybox Security (US), Brinqa (US), Checkpoint (Israel), NopSec (US), Tripwire (US), Digital Defense (US), RiskIQ (US), Kenna Security (US), Outpost 24 (US), Expanse (US), and Risk Sense (US).