Patch And Remediation Software Global Market Report 2024 by The Business Research Company | Microsoft Corporation; Verizon Communications Inc.; International Business Machines Corporation; Broadcom Inc.; Red Hat Inc.; Micro Focus International plc

The patch and remediation software market size has grown rapidly in recent years. It will grow from $1.41 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to the increased cyberattacks, increased vulnerability scanners, rise in security and data breaches, increased awareness and education, and the increased globalization of businesses.

The patch and remediation software market size is expected to see rapid growth in the next few years. It will grow to $3.44 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to the rising remote workforces, growing IT infrastructures, the rising zero-day vulnerabilities, focus on operational efficiency, demand for integrated security solutions, and focus on user-centric patching. Major trends in the forecast period include threat intelligence platforms, cloud-native patch management solutions, enhanced visibility and reporting, adoption of AI-driven automation, AI-powered patch management solutions, and security orchestration, automation, and response (SOAR) platforms.

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Patch And Remediation Software Market Major Segments
The patch and remediation software market covered in this report is segmented -

1) By Types: Security Updates, Windows Updates, Service Packs
2) By Component: Solution, Services
3) By Deployment: On-Premise, Cloud-Based
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry Vertical: Banking Financial Services And Insurance (BFSI), Healthcare And Life Sciences, Information Technology (IT) And Telecommunications (Telecom), Energy And Utilities, Manufacturing, Transportation, Retail, Other Industry Verticals

Key Driver - Rising Cyber Threats Fuel Growth In Patch And Remediation Software Market

Growing cyber threats are expected to propel the growth of the patch and remediation software market going forward. Cyber threats refer to malicious acts intended to steal or damage data, disrupt digital well-being, or compromise the security of information systems. Cyberthreats arise due to several factors, such as increased connectivity, a lack of security awareness, a shift to remote work, and sophisticated attack techniques. Patch and remediation software helps organizations stay ahead of cyber threats by updating their systems with the latest security updates and patches. It assists in identifying, prioritizing, and implementing solutions, lowering the risk of attack. For instance, in January 2024, according to a report published by the Identity Theft Resource Center (ITRC), a US-based non-profit organization, the number of data compromises in 2023 was 3,205, which increased by 78% from 1,801 in 2022. Therefore, growing cyber threats are driving the patch and remediation software market.

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Prominent Trend - Advancements In Patch Management Solutions Streamline Vulnerability Remediation

Major companies operating in the patch and remediation software market are focused on developing advanced solutions leveraging innovative technologies, such as automated remediation of security vulnerabilities, to gain a competitive edge in the market. Automated remediation of security vulnerabilities refers to the process of automatically identifying, prioritizing, and resolving security weaknesses or vulnerabilities in computer systems. For instance, in December 2022, Action1 Corporation, a US-based provider of a risk-based patch management platform, launched its new version of the patch management platform that allows for automated workflows to reduce the time to remediation. It provides quick integration capabilities, allowing businesses to effortlessly link automated vulnerability repair operations with their existing information technology design. It adds new applications to the repository for secure deployment of software and updates. It includes automated remediation of security vulnerabilities that helps organizations proactively identify and address potential security risks, reduce the time and effort required for remediation, and enhance overall security posture.

Patch And Remediation Software Market Players
Major companies operating in the patch and remediation software market report are Microsoft Corporation; Verizon Communications Inc.; International Business Machines Corporation; Broadcom Inc.; Red Hat Inc.; Micro Focus International plc; BMC Software Inc.; GoTo Group; Avast Software; Zoho Corporation Pvt. Ltd.; SolarWinds Worldwide LLC; Ivanti; Qualys Inc.; Flexera Software LLC; Kaseya Limited; Chef Software Inc.; Puppet; Comodo Group Inc.; SysAid Technologies; NetSPI LLC; Verve Industrial Protection; Patchworx; JetPatch; SmiKar Software; Lumension Security Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the patch and remediation software market in 2023. The regions covered in the patch and remediation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Patch And Remediation Software Market Report Structure
3. Patch And Remediation Software Market Trends And Strategies
4. Patch And Remediation Software Market - Macro Economic Scenario
5. Patch And Remediation Software Market Size And Growth
…..
27. Patch And Remediation Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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