Global Patch Management Software Market Estimated to Reach US$ 353.97 Mn by 2022, due to Growing Compliance & Regulatory Mandates

Absolute Markets Insights offers its latest published report ‘Patch Management Software Market by Component (Software, Services); by Application (PC Terminal, Mobile Terminal); by Deployment (On-Premise, Cloud Based); by Vertical (Healthcare, Government, Education, Financial Services, Legal, Manufacturing, Retail, Transportation); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026’.

The author of the report analyzed that the patch management software market accounted for US$ 264.79 Mn in 2017. Patch management is a technique for the supervision of patches or updates for programming applications and tools. A patch management strategy helps businesses or organizations to tackle these changes effectively.

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Compliance with the regulatory framework and more focus on IT governance polices is driving the patch management software market globally. Increasing concern for regulatory and governance compliance (e.g. Sarbanes-Oxley, HIPAA) has pushed organizations to gain better control and oversight of their internal data and hence resort to the implementation of patch management softwares. However, the prioritization of patches, timings of when to install patches and testing are some of the key issues associated with the patch management software, which are causing disruptions in business operations.
The market is facing moderate competition and there are ample of opportunities available for small vendors and large organizations. Many large organizations are looking for acquisitions in the market.

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PC Terminal Anticipated to be the Dominant Segment During the Forecast Period, 2018-2026
Patch management software helps IT teams monitor and manage the deployment of software patches. PC terminal software are easy to use and has many advantages compared to mobile terminal. Amongst the applications, PC terminal has been the dominant segment in terms of revenue for the last few years and is expected to maintain its position as a dominant segment during the forecast period.

Strong intellectual property rights laws and advanced technologies are anticipated to drive the Market in North America
North America held the largest share in global patch management software market. The factors such as strong intellectual property rights and advanced technologies ae expected to offer growth opportunities to the market in the north America segment. As per Computer Crime and Intellectual Property Section (CCPIS) which comes under the U.S. department of justice, more than 4000 ransomware attacks have taken place since 2016. The rise in the adoption of patch management tools across the U.S. is attributed to such vulnerabilities.

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Patch Management Software Market is Fragmented with the Presence of Global and Regional Players
Some of the primary participants in global patch management software market are Automox, Autonomic Software, Cisco WebEx, Ecora Software, GFI Software, IBM Software, ivanti, Kaseya Limited, ManageEngine, NetSPI, Oracle, SolarWinds, Swipx, Symantec, SysAid Technologies ltd., and Verismic Software, Inc. among others. In March 2018, Automax, which is patch management software provider has secured US$ 2 million of investment from Blue Note Ventures. The funds will be used for product development of patch management solutions and marketing & sales of the business.

Patch Management Software Market- by Component
• Software
• Services

Market By Application
• PC Terminal
• Mobile Terminal

Patch Management Software Market- By Deployment
• On-Premise
• Cloud Based

Market By Vertical
• Healthcare
• Government
• Education
• Financial Services
• Legal
• Manufacturing
• Retail
• Transportation

Patch Management Software Market – By Region
• North America
o U.S.
o Rest of North America
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Southeast Asia
o Rest of Asia Pacific
• Middle East and Africa
o GCC Countries
o Southern Africa
o Rest of Middle East and Africa
• Latin America
o Brazil
o Rest of Latin America

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This release was published on openPR.