[Research Report] The security and vulnerability management market size is projected to grow from US$ 13.76 billion in 2022 to US$ 22.88 billion by 2030; the market is estimated to record a CAGR of 6.6% from 2022 to 2030.
Analyst Perspective:
The report includes growth prospects owing to the current security and vulnerability management market trends and their foreseeable impact during the forecast period. The growing number of cyberattacks and data breach incidents across the world are among the factors bolstering the market. Growing investments in AI-enabled solutions and the expansion of the BFSI and healthcare sectors are further expected to boost the market during the forecast period. Stringent government regulations related to cybersecurity and data confidentiality also benefit the market. Moreover, the integration of modern technologies such as AI, ML, data analytics tools, and cloud storage is likely to create growth opportunities for the security and vulnerability management market growth in the coming years.
Market Overview:
Security is an organization's most valuable asset, which requires the contribution of both technology and training. Vulnerabilities are caused by faults in systems, which could lead to unauthorized access to private information. Security and vulnerability management is the process of identifying, classifying, mitigating, and fixing vulnerabilities in networking hardware or software. Crucial data obtained from vulnerability assessment is used by security teams to fix vulnerabilities in their networks, thereby facilitating risk assessment and threat mitigation activities. An upsurge in cybercrimes and increasing investments in cybersecurity processes are likely to drive the security and vulnerability management market growth in the near future.
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Security and Vulnerability Management Market: Strategic Insights
Market Size Value in US$ 13.76 billion in 2022 Market Size Value by US$ 22.88 billion by 2030 Growth rate CAGR of 6.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Security and Vulnerability Management Market: Strategic Insights
| Market Size Value in | US$ 13.76 billion in 2022 |
| Market Size Value by | US$ 22.88 billion by 2030 |
| Growth rate | CAGR of 6.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Security and Vulnerability Management Market Driver:
Increasing Number of Cyberattacks and Data Breaches Fuel Security and Vulnerability Management Market
According to a report by the AAG published on February 2024, 43% of UK businesses are facing cyber-attacks in 2022, recording an increase of ~32% from 2020. This propels the demand for security and vulnerability management solutions and services among consumers for protecting sensitive data and critical systems against cyberattacks. Moreover, these solutions are also used to identify and address vulnerabilities that help users mitigate risks related to security breaches and protect sensitive data and systems.
Report Segmentation and Scope:
The security and vulnerability management market analysis has been carried out by considering the following segments: offering, deployment, and industry. Based on offering, the market is segmented into solution and services. In terms of deployment, the security and vulnerability management market is categorized into on-premise and cloud. On the basis of industry, the market is divided into BFSI, IT & telecom, retail and e-commerce, healthcare, government and utilities, and others. By region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Segmental Analysis:
Based on industry, the security and vulnerability management market is segmented into BFSI, IT & telecom, retail and e-commerce, healthcare, government and utilities, and others. The BFSI segment is anticipated to hold a significant security and vulnerability management market share during the forecast period. The projected growth of this segment is ascribed to the growing digitalization and the rising number of cyberattacks in the BFSI sector, along with its intense impact on national economies. According to Computer Emergency Response Team (CERT-In) data, the financial sector in India faced over 1.3 million cyber-attacks between January and October 2023, with an average of 4,400 attacks per day. Cybersecurity is becoming increasingly crucial for financial institutions due to the growing digitalization in the financial sector, facilitating the expansion of the security and vulnerability management market. Digitalization makes it easy for cyber-attackers to target websites and transaction systems.
Regional Analysis:
The geographic scope of the security and vulnerability management market report entails North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, North America held the largest security and vulnerability management market share in 2022. Growing investments in AI technology, rising awareness related to cyber threats, significant investments in cybersecurity, and stringent rules and regulations for the financial industry are driving the market in this region. The region is highly focused on adopting comprehensive security solutions for protecting data from cyber threats. In October 2023, the House Foreign Affairs Committee and Senate Homeland Security & Governmental Affairs faced a cyberattack from Vietnamese hackers trying to install spyware on the phones of journalists. Such cyberattack incidents trigger the demand for vulnerability management solutions among consumers to protect their sensitive data. Vulnerability management allows users to strengthen their systems, protect data, and comply with security standards.
Key Player Analysis:
Microsoft Corp; International Business Machines Corp;, Hewlett Packard Enterprise Development LP; Qualys Inc; Tenable Holdings Inc; Rapid7; CrowdStrike Holdings Inc; Fortra, LLC; Skybox Security, Inc; and Cisco Systems Inc are among the key companies profiled in the security and vulnerability management market report.
Security and Vulnerability Management Market Report Scope
Recent Developments:
The security and vulnerability management market forecast can help stakeholders in this marketplace plan their growth strategies. The market players highly adopt inorganic and organic strategies; a few of the recent key developments are listed below:
- In October 2023, BackBox Software Inc launched a Network Vulnerability Manager service for enhancing network automation. This new service assists users in network automation and offers a comprehensive solution to manage vulnerabilities within network infrastructures.
- In October 2023, Hackuity launched the version 2.0 of its intelligent risk-based vulnerability management platform. Version 2.0 is a next-generation platform featuring major enhancements to support businesses in handling risks. The new version combines vulnerability severity, threat intelligence, and unique business context, providing businesses with a measurable True Risk Score (TRS).
- In April 2023, Google LLC launched the Hacking Policy Council initiative to strengthen the vulnerability management process. The Hacking Policy Council is collaborating with Intel, Bugcrowd, Intigriti, HackerOne, and Luta Security to enhance vulnerability management practices.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering, Deployment, and Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Solution segment is expected to hold a major market share of security and vulnerability management market in 2022
The security and vulnerability management market is expected to register an incremental growth value of US$ 9.12 billion during the forecast period
The global market size of security and vulnerability management market by 2030 will be around US$ 22.88 billion
Stringent regulatory standards and data privacy compliances are anticipated to play a significant role in the security and vulnerability management market in the coming years.
Asia Pacific is expected to register highest CAGR in the security and vulnerability management market during the forecast period (2022-2030)
The US is expected to hold a major market share of security and vulnerability management market in 2022
Microsoft Corp; International Business Machines Corp; Hewlett Packard Enterprise Development LP; Qualys Inc; Tenable Holdings Inc; Rapid7; CrowdStrike Holdings Inc; Fortra, LLC; Skybox Security, Inc; and Cisco Systems Inc are the key market players expected to hold a major market share of security and vulnerability management market in 2022
Growing investments in AI-enabled solutions and increasing number of cyberattacks and data breaches are the major factors that propel the security and vulnerability management market.
US, China, and Japan are expected to register high growth rate during the forecast period
The estimated global market size for the security and vulnerability management market in 2022 is expected to be around US$ 13.76 billion
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Security and Vulnerability Management Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Security and Vulnerability Management Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Security and Vulnerability Management Market - Global Market Analysis
6.1 Security and Vulnerability Management - Global Market Overview
6.2 Security and Vulnerability Management - Global Market and Forecast to 2030
7. Security and Vulnerability Management Market – Revenue Analysis (USD Million) – By Offering, 2020-2030
7.1 Overview
7.2 Solution
7.3 Service
8. Security and Vulnerability Management Market – Revenue Analysis (USD Million) – By Deployment, 2020-2030
8.1 Overview
8.2 On-premise
8.3 Cloud
9. Security and Vulnerability Management Market – Revenue Analysis (USD Million) – By Vertical, 2020-2030
9.1 Overview
9.2 BFSI
9.3 IT and Telecom
9.4 Retail and E-commerce
9.5 Healthcare
9.6 Government and Utilities
9.7 Others
10. Security and Vulnerability Management Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
10.1 North America
10.1.1 North America Security and Vulnerability Management Market Overview
10.1.2 North America Security and Vulnerability Management Market Revenue and Forecasts to 2030
10.1.3 North America Security and Vulnerability Management Market Revenue and Forecasts and Analysis - By Offering
10.1.4 North America Security and Vulnerability Management Market Revenue and Forecasts and Analysis - By Deployment
10.1.5 North America Security and Vulnerability Management Market Revenue and Forecasts and Analysis - By Vertical
10.1.6 North America Security and Vulnerability Management Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Security and Vulnerability Management Market
10.1.6.1.1 United States Security and Vulnerability Management Market, by Offering
10.1.6.1.2 United States Security and Vulnerability Management Market, by Deployment
10.1.6.1.3 United States Security and Vulnerability Management Market, by Vertical
10.1.6.2 Canada Security and Vulnerability Management Market
10.1.6.2.1 Canada Security and Vulnerability Management Market, by Offering
10.1.6.2.2 Canada Security and Vulnerability Management Market, by Deployment
10.1.6.2.3 Canada Security and Vulnerability Management Market, by Vertical
10.1.6.3 Mexico Security and Vulnerability Management Market
10.1.6.3.1 Mexico Security and Vulnerability Management Market, by Offering
10.1.6.3.2 Mexico Security and Vulnerability Management Market, by Deployment
10.1.6.3.3 Mexico Security and Vulnerability Management Market, by Vertical
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 United Kingdom
10.2.5 Russia
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Saudi Arabia
10.4.3 U.A.E
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Security and Vulnerability Management Market - Key Company Profiles
13.1 Microsoft Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 International Business Machines Corp
13.3 Hewlett Packard Enterprise Development LP
13.4 Qualys Inc
13.5 Tenable Holdings Inc
13.6 Rapid7
13.7 CrowdStrike Holdings Inc
13.8 Fortra, LLC
13.9 Skybox Security, Inc
13.10 Cisco Systems Inc
14. Appendix
14.1 Glossary
14.2 About The Insight Partners
14.3 Market Intelligence Cloud
The List of Companies - Security and Vulnerability Management Market
- Microsoft Corp
- International Business Machines Corp
- Hewlett Packard Enterprise Development LP
- Qualys Inc
- Tenable Holdings Inc
- Rapid7
- CrowdStrike Holdings Inc
- Fortra, LLC
- Skybox Security, Inc
- Cisco Systems Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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