Global Security and Vulnerability Management Market Growth Prospects, Future Industry Landscape 2033 | Dell Technologies Inc., International Business Machines Corporation, Broadcom Inc

"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.

Market Overview -
Security and vulnerability management refers to the ongoing, regular process of various processes, tools, and strategies for identifying, evaluating, treating, and reporting security vulnerabilities and misconfigurations within an organization's software and systems. The implementation of security and vulnerability management alongside with other security tactics is vital for organizations to prioritize possible threats and minimize their attack surface.

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Surging Adoption Of Security And Vulnerability Management Tools To Drive Market Growth
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.

Competitive Landscape -
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.

Technological Advancements Driving Innovation In Security And Vulnerability Management Market
Technological advancements have emerged as a key trend gaining popularity in the security and vulnerability market. Major companies operating in the security and vulnerability management sector are focused on developing innovative products and applications to strengthen their position. For Example, in May 2022, New Relic, a US-based observability company, launched New Relic Vulnerability Management. It will enable organizations to identify and address security risks more quickly and precisely. To manage security and risk comprehensively, every member of the software team, including security engineers, can use New Relic as the default platform to aggregate native and third-party security signals across the entire software stack. Using mappings and correlations, engineers can monitor, debug, and secure the entire software stack more effectively and reduce overall risks.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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