Patch Management Market is projected to increase at a CAGR of around 10.3% during 2022 - 2030 |Emergen Research

The global patch management market size was USD 714.8 Million in 2021 and register a revenue CAGR of 10.3% over the forecast period, according to the latest analysis by Emergen Research. Rising demand for Development, Security, and Operations (DevSecOps) and surge in cyber-attacks globally and others are key factors driving global patch management market revenue growth.

Modern cloud-native applications benefit from security approach brought by DevSecOps. Securing a cloud system with distributed applications is more difficult than it seems while due to some basic features of cloud, implementing DevSecOps can be challenging. An important step in developing secure applications is to scan code for any security issues. Applications often run as packed containers in cloud, therefore, optimum approach in CI/CD systems is to test code before building it into a container image. Rising demand for Development, Security, and Operations (DevSecOps) is driving market revenue growth substantially.

Rising demand for Development, Security, and Operations (DevSecOps) and surge in cyber-attacks globally are driving global patch management market revenue growth

Additionally, increasing geopolitical tension, rise in state-sponsored cyber-attacks and surge in cyber-attacks globally have substantially increased demand for patch management. According to Harvard's National Cyber Power Index, China is placed second to the U.S. in terms of overall cyberwarfare capability, even outperforming the U.S. in categories of cyber-surveillance and cyber commerce. According to a report as of August 2021, India has a 261% increase in cyber-attacks annually, which are backed by Chinese. This is expected to increase demand for patch management solutions by government and private organizations to protect sensitive data and reduce financial loss in form of ransoms. This is expected to drive market revenue growth.

However, factors such as lack of skilled cybersecurity professionals, patch failure reports in real-time are not available, and lack of established standards in the IT industry regarding patch management. Lack of competent personnel with relevant experience in the field of cybersecurity is hampering growth of the market.

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In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Patch Management market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analysed and validated through primaries.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Patch Management market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Patch Management market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Patch Management market.

Competitive Terrain:

The global Patch Management industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

International Business Machines Corporation, Microsoft Corporation, Micro Focus, Qualys, Inc., SolarWinds Worldwide, LLC., Ivanti, ManageEngine (Zoho Corporation), Avast Software s.r.o., SecPod Technologies, and Automox

The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

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Market Segmentations of the Patch Management Market

Segments Covered in this report are:

Component Outlook (Revenue, USD Million, 2019-2030)

Software

Services

Consulting

Support & Integration

Deployment Outlook (Revenue, USD Million, 2019-2030)

On Premise

On-Cloud

Industry Vertical Outlook (Revenue, USD Million, 2019-2030)

BFSI

Government & Defense

IT & Telecom

Others

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Regional Outlook of the Patch Management Market

The global Patch Management market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Patch Management market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Key reasons to buy the Global Patch Management Market report:

The latest report comprehensively studies the global Patch Management market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

Table of Contents:

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

In conclusion, the Patch Management Market report is an exhaustive database that will help readers formulate lucrative strategies. The Patch Management Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter's Five Forces Analysis to study the leading companies.

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