By Deployment- Segment Analysis
By deployment Security and Vulnerability Management Market is segmented into On-premises and cloud based. Cloud based security and vulnerability management is witnessing a significant growth in the market. Through the cloud based security and vulnerability management, network based intrusion detection along with virus scanning can be acquired which basically helps in network and infrastructure security. Businesses generally become safer and secure through cloud as it provides improved infrastructure security. Furthermore, cloud based deployment is cost effective owing to which it is adopted by most of the organizations.
By Organization Size – Segment Analysis
By Organization Size the market is segmented into Small & Medium Enterprises and Large Enterprises. Large organizations are dominating the market owing to the risk of high cybersecurity vulnerabilities, cybersecurity threats, cybersecurity exploits. The large enterprises are using these security and vulnerability management products widely. The use of assessment products like application scanners, device vulnerability assessment products, policy and compliance solutions and others are used by the large enterprises for cyberthreats.
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Geography – Segment Analysis
Global Security and Vulnerability Management Market is dominated by North America region by a market share 37.2% in 2019. The surge in cloud based networking, mobile devices and presence of major key players for whom there is requirement of security and vulnerability management are driving the growth of the market. Requirement for cloud managed LAN networks are contributing to further growth of the market in North America region. Furthermore, dynamic business requirements along with growing enterprises are aiding the use of cloud based LAN networks in this region. The rise of industrial sector among which the IT sector companies are the major ones in this region are accounting for more use of the security and vulnerability management. These factors are boosting the growth of the market in this region.
Drivers – Security and Vulnerability Management Market
- Growth in cyber threats and cyber crime and risks:
The upsurge in cyber threats and cyber crime has increased the implementation of risk management, security management and vulnerability management solutions. Owing to the increase in these cyber threats like computer viruses, Denial of Service attacks, data breaches and others the organizations are adopting security and vulnerability management tools to protect their data form these malicious acts. Cyber threats generally include a social-engineering or pislishing attack. In this attacker installs a trojan and steals private information from an application or the website. To save the private information it is important of all the end users to implement the security and vulnerability management tools. Furthermore, rise in risks of vulnerability like SQL injection, sensitive data theft and others have also driven the growth of the market.
- Growth in cloud computing, mobile device & software and vulnerability assessment:
The growth of IT and telecommunication industries have led to the growth of cloud computing, mobile device and software vulnerability assessment. According to the International Trade Administration In 2018, 50% of enterprises with more than 1000 users are using products provided by Cloud Access Security Broker (CASB) to monitor and manage their use of software as service and forms of public cloud in United States. The use of cloud computing has increased the risk of vulnerability threats over the cloud networks. As the cloud managed services are best suited for the use in the various IT firms due to their high speed internet and cost effectiveness, the public cloud, private cloud and hybrid cloud technologies are accessed to the servers of the various organizations. Owing to these benefits there is a surge in adoption of cloud computing thereby driving the growth of the market.
Challenges – Security and Vulnerability Management Market
- Lack of resources and funding Challenge:
Although there are many advantages of Security and Vulnerability Management the small and medium enterprises generally face challenge of lack of resources due to which these enterprises are unable to implement security and vulnerability management tools. Furthermore, these enterprises also face funding problems. These factors are hindering the growth of the market.
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Security and Vulnerability Management Market is dominated by major companies such as IBM Corporation, EMC Corporation, Microsoft Corporation, Hewlett-Packard, Netiq Corporation, Rapid 7, Tripwire, Qualys, Skybox Security, Alien Vault among others.
- March 5, 2019- Tripwire, Inc. announced expansion of its service named Tripwire ExpertOps. Through this expansion the company included vulnerability management as a managed service. Vulnerability security management can be done through this Expert Ops and it is more helpful for the organizations with limited in-house cyber security management.
- November 19, 2019- Qualys, Inc. launched its new Vulnerability management, Detection and Response (VMR) app. This app provides the company with risk management and vulnerability management.