Global Patch Management Market By Component (Patch Management Software and, Services), Feature (Vulnerability Management, Compliance Management and Reporting), Deployment Mode (Cloud and On-Premises), End User Vertical (Banking, Financial Services, and Insurance (BFSI), Government and Defence, Retail, Healthcare, Education, IT and Telecom and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Increased adoption of cloud-based technologies by small and medium scale enterprises, growing patch management solutions vulnerabilities, and increasing application of patch management by a wide range of end user verticals such as banking, financial services, and insurance (BFSI), energy and utilities, government and defence, retail, healthcare, education, IT and telecom and others are the major factors attributable to the growth of patch management market. Data Bridge Market Research analyses that the patch management market will exhibit a CAGR of 14.50% for the forecast period of 2021-2028. This means that the patch management market would stand tall at a market value of USD 1.81 billion by 2028.
Patch management are the services provided by software companies to fix the bugs. Under performance management, different versions of the software are used for identification and evaluation purposes. Patch management allows the system to remain up-to-date, which in makes it easy and simple to manage patches. In other words, patch management helps to detect any potential lack of security in the latest versions of the software.
Increased demand for up to date software will emerge as the major patch management market growth driving factors. Rapid increase in the volume of data and growing deployment of third party applications will further aggravate the growth of the patch management market. Increasing governmental regulations to promote patch management, rising number of cybercriminals and surge in the proliferation of internet are some other factors bolstering the growth of patch management market.
However, lack of trained personnel and skilled expertise will act as a growth restraint for the patch management market. Patch testing, prioritization of patches and compatibility issues will further dampen the growth rate of the patch management market.
This patch management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on patch management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Patch Management Market Scope and Market Size
The patch management market is segmented on the basis of component, feature, deployment mode, and end user vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the global patch management market has been divided into patch management software and services. Services segment is sub-divided into consulting, support and integration and training and education.
- On the basis of feature, the global patch management market has been divided into vulnerability management, compliance management and reporting.
- On the basis of deployment mode, the global patch management market has been divided into cloud and on-premises.
- On the basis of end user vertical, the global patch management market has been divided into banking, financial services, and insurance (BFSI), government and defence, retail, healthcare, education, IT and telecom and others.
Global Patch Management Market Country Level Analysis
The patch management market is analysed, and market size, volume information is provided by country, component, feature, deployment mode and end user vertical as referenced above.
The countries covered in the patch management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the patch management market, and its market share will continue to expand during the forecast period owing to the increase in the number of end user verticals, presence of major players in the region and rising adoption of improved and innovative technologies. Asia-Pacific will register the highest CAGR for the forecast period. Rising penetration of internet is a major factor fostering the market growth rate. Also, rising adoption of advanced technologies such as artificial intelligence, machine learning, big data analytics, internet of things will also act as important market growth determinants.
The country section of the patch management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Patch Management Market Share Analysis
The patch management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to patch management market.
The major players covered in the patch management market report are IBM, Oracle, Broadcom., Dell Inc., Hewlett Packard Enterprise Development LP, FUJITSU, Micro Focus, Microsoft, Symantec Corporation., NetSPI LLC., Cisco Systems, Inc., ALIENVAULT, INC., Skybox Security, Inc., AT&T Intellectual Property., Qualys, Inc., Zoho Corporation Pvt. Ltd., SysAid Technologies Ltd., Versata, Automox and GFI Software among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor individually.