Global Patch Management Market-Industry Analysis and Forecast (2019-2026) – by Deployment Model, Component, Vertical and Region.
Global Patch Management Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 11.2 % during forecast period.
Patch management market is driven by major factors like increasing concern for regulatory and governance compliances. It has pushed organizations to gain better control and oversight of their internal data and therefore resort to the implementation of patch management software. Also growing demand for up-to-date OS/applications, and increasing deployment of third-party applications. However, the prioritization of patches, timings of when to install patches and testing are some of the crucial issues associated with the patch management software, which are causing disruptions in business operations.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Based on deployment model, the on-premises segment is expected to be the fastest-growing market globally. On-premises deployment is a traditional approach to implement patch management solutions through enterprises. The organizations where user credentials are critical for business operations would prefer the on-premises deployment, as it offers them with the flexibility to control their IT systems. Government and defense and BFSI verticals prefer on-premises security for they cannot afford to lose their sensitive data, financial records, accounting information, and money transfers.
By vertical segment, the healthcare sub-segment is estimated to witness considerable CAGR of XX% during the upcoming years. Cybercriminals target healthcare organizations for PHI, PII, and credit card information. The adoption of patch management software in this vertical is growing to secure sensitive information from being transferred through vulnerable networks, and the software also aids organizations to comply with Health Insurance Portability and Accountability Act (HIPAA) and Payment Card Industry Data Security Standard (PCI DSS) regulations.
Region-wise, the Asia Pacific is expected to grow at the highest CAGR i.e. XX% during the forecast period. Large enterprises and Small and Medium-sized Enterprises) in the Asia Pacific countries are admitting the significance of data security. The APAC houses a large number of established SMEs, which are growing at an exponential rate to cater to their extensive customer base. Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence are the emerging methodologies that are being deployed in the APAC region.
Several major players are operating in the global market for patch management like IBM, Microfocus, Avast etc. In February 2019, IBM partnered with Qualys to assimilate Qualys’s patch management solution with IBM’s X-Force Red’s vulnerability management services. This integration is estimated to enable IBM to automate vulnerability prioritization and patching, which will reduce the time for vulnerability remediation.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Patch Management Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Patch Management Market.
Scope of the Global Patch Management Market
Global Patch Management Market, By Deployment Model
Global Patch Management Market, By Component
• Patch Management Software Services
• Support and Integration
• Training and Education
Global Patch Management Market, By Vertical
• Banking, Financial Services, and Insurance (BFSI)
• Information Technology (IT) and Telecom
• Government and Defense
Global Patch Management Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Patch Management Market
• Micro Focus
• ManageEngine, a Division of Zoho Corporation
• GFI Languard Software
• Chef Software
• SysAid Technologies
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