Security And Vulnerability Management Market Trends, Growth, Size, Technological Advancements, Market Drivers, Key Players And Industry Forecast 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Security and Vulnerability Management Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The security and vulnerability management market size has grown strongly in recent years. It will grow from $13.61 billion in 2023 to $14.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to early cyber threats, regulatory initiatives, network complexity increase, Internet expansion, shift to digital business, data breach incidents.

The security and vulnerability management market size is expected to see strong growth in the next few years. It will grow to $19.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to cybersecurity talent shortage, zero trust adoption, ransomware evolution, supply chain security concerns, advancements in AI and automation. Major trends in the forecast period include cybersecurity skills gap, cyber threat sophistication, regulatory compliance, remote work dynamics, cloud migration, IoT expansion.

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Key Market Players:
Major companies operating in the security and vulnerability management market report are Dell Technologies Inc., International Business Machines Corporation, Broadcom Inc., F-Secure Corporation, Fortinet Inc., Check Point Software Technologies Ltd., McAfee Inc., Proofpoint Inc., Rapid7 Inc., Qualys Inc., AT&T Cybersecurity Inc., Foreseeti AB, Positive Technologies Company, Tenable Inc., Claroty Ltd., Alert Logic Inc., Tripwire Inc., Skybox Security Inc., NetIQ Corporation, Expanse Inc., Outpost24 AB, Balbix Inc., Digital Defense Inc., SecPod Technologies Private Limited, Brinqa LLC, Holm Security AB, Acunetix Limited, RiskIQ Inc., Kenna Security Inc., Breachlock Inc.

Market Drivers:
The rise in the adoption of security and vulnerability assessment and management tools is expected to drive the growth of the security and vulnerability management market going forward. Security and vulnerability management tools aid in the assessment, identification, and reporting of security flaws. Many firms are utilizing security and vulnerability assessment and management technologies to minimize security issues. For example, in October 2021, Synk, a US-based security company operating in security and vulnerability management, broadened its portfolio with Snyk Code, a static application security testing (SAST) tool that already supports Java, JavaScript, and Python, now it includes support for C#, Ruby, PHP, and Go. In the last 12 months, Snyk clients and customers have run more than 300 million tests, fixing more than 30 million vulnerabilities in a 90-day timeframe. Snyk also announced that its annual recurring income (ARR) has climbed by 154 percent year over year, owing to a customer base that currently includes over 1,200 companies such as Asurion, Google, Intuit, MongoDB, New Relic, Revolut, and Salesforce. Therefore, the rise in the adoption of security and vulnerability assessment and management tools is driving the security and vulnerability management market.

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The security and vulnerability management market covered in this report is segmented -
1) By Component: Software, Services
2) By Organization Size: Small and Medium Scale, Large Scale
3) By Target: Content Management System Vulnerabilities, API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, Other Targets
4) By Application: Banking, Financial Services And Insurance (BFSI), Government and Defense, Healthcare, IT and Telecom, Retail, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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