The Global Security and Vulnerability Management Market size is expected to reach $20.1 billion by 2027, rising at a market growth of 7.1% CAGR during the forecast period. Security and vulnerability management refers to the process of identifying, analyzing, and eliminating vulnerabilities in networking hardware or software. In the past few years, this system has emerged as a crucial component for security in companies. Vulnerability management system takes help of test systems and technology to expose weak points and security flaws, thereby enabling the customers to know and quantify the loopholes in the network and to avoid undesirable weak points.
Growing adoption of IoT and cloud trends, high monetary losses due to the dearth of these solutions, integration of latest technologies like artificial intelligence & machine learning with security and vulnerability management solutions are indicative for the future growth of these solutions. Moreover, rise in vulnerabilities across the world, and strict regulatory standard & data privacy compliances are some of the key factors accountable to drive the growth of the security and vulnerability management market worldwide.
Moreover, the increase in number of cyber threats and cybercrimes is directly proportional to the adoption and growth rate of the security and vulnerability management solutions. Further, companies are switching towards the adoption of these solutions to ensure that threat intelligence & risk management is available in their premises that will enhance the security operations of their business.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic compelled companies of different sizes to adopt remote working model by allowing the employees to work from their homes in order to prevent the risk of getting infected from the coronavirus. The internet ecosystem played a vital role across the world. This provided access to the company's data to employees that were working from remote or distant locations. Thus, this has increased the chances of vulnerability that has forced companies to adopt security and vulnerability management solutions in order to prevent monetary and data losses.
Market Growth Factors:
Increase in loss of confidential data and monetary loss
Various companies are highly focusing on implementing several advanced technologies like cloud storage, enterprise mobility, and virtualization to increase the productivity of their businesses. With the help of advanced technologies like virtual and cloud storage, companies are now able to function efficiently in real-time as the private data can also be accessed through devices like mobile or tablets. But, the access of private data through mobile or tablet increases the chances of data theft and data loss. To deal with these issues, vulnerability management solutions assist companies in identifying misconfigurations regarding firewall port access, Windows Defender, administrative authorization privileges, various other antivirus detection solutions, web server hardening, and strong password policy.
Rising number of risks, cybercrime, and cyber threats
The adoption of security management, vulnerability management, and risk management solutions has increased due to a significant rise in cybercrimes and cyber threats. In addition, with the growth in cyber threats such as data breaches, Denial of Service attacks, and computer viruses, companies are excessively implementing security and vulnerability solutions in order to secure their confidential data from malicious activities. Moreover, the deployment of risk management, vulnerability management and security management has increased due to the increasing number of cyber threats and cybercrimes.
Market Restraining Factor:
High cost of installation, maintenance, and adoption of these solutions
To adopt solutions such as Tenable Nessus Pro (commercial), Tenable.io, Tenable.sc, Rapid7 InsightVM, and Qualys VMDR that provide high-level security to a company's private data is relatively very expensive. The major end-users of these solutions are financial companies that generate a huge volume of critical data. But, some of the small and medium-size companies are still struggling for deploying such solutions in their premises as they demand a large amount of investment. Moreover, after the installation of security and vulnerability solutions, they must be maintained and upgraded from time to time, which again requires a heavy investment that small and medium-sized companies regularly.
Component Outlook
Based on Component, the market is segmented into Software and Services. These services offer support to the software solutions for their efficient functioning. In addition, the vendors present in the market are aiming to provide specialized services to assist companies in running their business processes smoothly. Professional services include adoption & integration and training & consulting. On contrary, managed services comprise infrastructure management, support, and maintenance. Moreover, it is anticipated that the demand for services in the market will boost in the forthcoming years for effective working and fulfillment of objectives of businesses.
Type Outlook
Based on Type, the market is segmented into Content Management Systems Vulnerabilities, API Vulnerabilities, IoT Vulnerabilities, and Others. The Content Management Systems Vulnerabilities market dominated the Global Security and Vulnerability Management Market by Type 2020. The API Vulnerabilities market is experiencing a CAGR of 6% during (2021 - 2027). Additionally, The IoT Vulnerabilities market is anticipated to showcase promising growth during the forecast period.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into Cloud and On-premise. The Cloud market dominated the Global Security and Vulnerability Management Market by Deployment Type 2020, and is expected to continue to be a dominant market till 2027. The On-premise market is expected to witness a CAGR of 5.7% during (2021 - 2027).
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The Large Enterprises market dominated the Global Security and Vulnerability Management Market by Enterprise Size 2020.
End User Outlook
Based on End User, the market is segmented into IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Energy & Utility, and Others. There is a rise in the email phishing attacks across healthcare industry during the COVID-19. However, healthcare companies are also facing several challenges in maintaining the privacy of Electronic Health Records (EHRs) and meeting several compliances set by The Health Insurance Portability and Accountability Act (HIPAA), a federal law that assists IT departments of the healthcare sector to manage & upgrade security procedures & policies to Protected Health Information (PHI).
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America market dominated the Global Security and Vulnerability Management Market by Region 2020, and is expected to continue to be a dominant market till 2027. The Europe market is expected to witness a CAGR of 6.3% during (2021 - 2027). Additionally, The Asia Pacific market is estimated to witness prominent growth during the forecast period.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; IBM Corporation are the forerunners in the Security and Vulnerability Management Market. Companies such as Qualys, Inc., Check Point Software Technologies, F-Secure Corporation are some of the key innovators in Security and Vulnerability Management Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tenable®, Inc., F-Secure Corporation, Skybox Security, Inc., IBM Corporation, Qualys, Inc., Rapid7, Inc., Check Point Software Technologies Ltd., Digital Defense, Inc. (HelpSystems, LLC), Tripwire Inc. (Belden, Inc.), and AT&T Cybersecurity (AT&T, Inc.).
Recent Strategies Deployed in Security and Vulnerability Management Market
Partnerships, Collaborations and Agreements:
- Jul-2021: Digital Defense together with HelpSystems came into agreement with Private Protocol, a data security specialist. This agreement is expected to enable Private Protocol to expand its cybersecurity offerings by providing and adopting Digital Defense’s Frontline vulnerability management and threat assessment solutions, taking the organization from a data and access security solutions provider to an accomplished IT security organization with an expanded security product line.
- Mar-2021: AT&T came into partnership with Fortinet, an American multinational corporation. This partnership aimed to expand AT&T’s managed security services offerings. Through this partnership, the companies is expected to be able to follow the continuing trend of the convergence of networking & security solutions. In addition, AT&T is expected to also strengthen its position with its integrated offer of network & security services to fulfill the requirements of global companies.
- Mar-2021: Qualys extended its partnership with HCL Technologies, a leading global technology company. This extended partnership is expected to integrate the embedding of Qualys VMDR (Vulnerability Management, Detection, and Response) in the HCL Technologies CyberSecurity Fusion Center (CSFC).
- Oct-2020: IBM teamed up with ABB, a Swedish–Swiss multinational corporation. Through this collaboration, the companies aimed to connect cybersecurity and operational technology (OT). Under this collaboration, ABB has developed a new OT Security Event Monitoring Service1, which integrates ABB’s process control system domain expertise with IBM’s security event monitoring portfolio to enhance security for industrial operators.
- Oct-2020: Tenable came into partnership with the Center for Internet Security, a 501-nonprofit organization. This partnership is expected to boost cyber hygiene for both public & private sector companies that is expected to make foundational cybersecurity more accessible, actionable, and affordable.
- Jul-2020: Check Point Software Technologies formed a partnership with Aryaka, a Cloud-First Managed SD-WAN service provider. This partnership is expected to leverage Aryaka’s Cloud-First managed SD-WAN solution and Check Point CloudGuard Connect and CloudGuard Edge to offer incorporated security & SD-WAN as-a-Service.
- Jun-2020: Skybox Security came into partnership with Spire Solutions, a pioneer in value-added disruptive distribution and preferred provider of information security solutions & services. This partnership aimed to align skybox security with Spire’s portfolio and help Skybox in penetrating the Middle Eastern market.
- Mar-2020: Skybox Security formed a partnership with Wipro Limited, a leading global information technology, consulting, and business process services company. This partnership aimed to enable companies to prevent their hybrid IT-OT networks and facilitate the security of their core infrastructure. In addition, this partnership is expected to also help companies to enhance and unify security management in convergent, hybrid IT-OT networks.
- Jan-2020: Tripwire came into partnership with Eaton, a power management company. Through this partnership, the companies is expected to facilitate utilities for the US to meet with changing cybersecurity needs that comprises North American Electric Reliability Corporation crucial infrastructure protection (NERC CIP).
Acquisitions and Mergers:
- Sep-2021: Tenable signed an agreement to acquire Accurics, a cloud-native security startup. Under this agreement, the company is expected to expand the vulnerability management's platform into securing the cloud with infrastructure as code (IaC) offerings.
- Aug-2021: Qualys signed an agreement to acquire TotalCloud, a cloud workflow management, and no-code automation platform. Through this acquisition, the company aimed to support its Cloud Security solution enabling clients to create user-defined workflows for conventional policies and implement them on-demand for simplified compliance and security.
- Aug-2021: Check Point Software Technologies took over Avanan, a U.S.-Israeli cyber security company. Under this acquisition, Avanan integrated with Check Point Infinity consolidated architecture to offer the world’s most secure email security offering. By using patented technology design and built for cloud email environments, this unified solution available in the market is expected to prevent the remote workforce from URLs and Phishing across email, web, network, endpoint, collaboration suites, and malicious files.
- Jul-2021: Rapid7 took over IntSights Cyber Intelligence, a leader in contextualized external threat intelligence and proactive threat remediation. This acquisition focused on integrating its deep understanding of customer environments & community-infused threat intelligence with IntSights’ external threat intelligence capabilities.
- May-2021: HelpSystems took over Beyond Security, a global leader in vulnerability assessment and management software. Through this acquisition, Beyond Security's cloud-based products allow hundreds of companies to easily scan their growing, complex environments for network or application vulnerabilities. The team and solutions from Beyond Security is expected to fit into HelpSystems' popular infrastructure protection offerings featuring Core Security, Cobalt Strike, and Digital Defense.
- Apr-2021: Tenable Holdings took over Alsid SAS, a leader in securing Active Directory. This acquisition is expected to help the companies in integrating the complementary strengths of two cybersecurity innovators and marks a significant milestone in Tenable’s vision to assist companies to understand and minimize cyber risk over the entire attack surface.
- Feb-2021: Rapid7 completed the acquisition of Alcide.IO, a leading provider of Kubernetes security based in Tel Aviv, Israel. This acquisition is expected to improve the company's ability to offer a cloud-native security platform to its clients and ensure continuous management of risk & compliance over their cloud environments.
- Dec-2020: HelpSystems completed the acquisition of Vera, a leading cloud-based data protection solution provider. Through this acquisition, the company aimed to expand its data security offerings and fulfill the rising demand for solutions, which protect information over the full data lifecycle, from data classification and secure file transfer to data loss prevention and encryption.
- Jul-2020: Qualys took over the software assets of Spell Security, endpoint detection, and response start-up. This acquisition aimed to bring rich telemetry to the Qualys Cloud Platform, strengthen the company's security and threat research, and improve endpoint behavior detection capabilities.
Product Launches and Product Expansions:
- Jul-2021: Rapid7 introduced InsightCloudSec, the industry’s first fully-integrated Cloud-Native Security Platform (CNSP). This platform allows companies to improve their cloud security programs via continuous security & compliance for complex cloud environments.
- Jun-2021: Skybox Security released new vulnerability prioritization capabilities with prescriptive remediation evaluation. These capabilities are the first in a series of upcoming innovations, which is expected to automate risk scoring and remediation over-complicated hybrid environments.
- May-2021: F-Secure unveiled F-Secure Elements, a new cloud-based platform. This platform streamlines companies' provision of cyber security services. Moreover, this platform also empowers companies to pick cyber security services on terms, which aid their requirements as they are easily available from service partners with fixed-term license subscriptions or usage-based billing for greater flexibility.
- May-2021: AT&T introduced a cost-effective unified cybersecurity solution. This solution is expected to fulfill the security requirements of federal, local, and state government agencies. The AT&T Threat Detection and Response for Government, a new offer is based on the AT&T Unified Security Management (USM) platform that integrates incident response, compliance, and threat detection management.
- May-2021: Qualys launched its endpoint security solution. This solution is expected to enhance the ability to identify and shut off advanced threats with-in real-time. This solution is expected to also add to the company's Cloud Agent’s exhaustive capabilities of inventory, vulnerability management, patching, and endpoint detection & response (EDR).
- Mar-2021: IBM Security unveiled new and improved services. These services is expected to assist companies to manage their cloud security policies, controls, strategy over hybrid cloud environments. Moreover, these services is expected to bring together IBM, cloud-native, third-party technologies, and IBM expertise to assist companies to create a unified security approach over their cloud ecosystems.
- Mar-2021: F-Secure launched its unified, integrated cyber security offering, which is available as a usage-based business model. This offering provides the service partners and customers with smooth deployment, flexibility, and operational efficiency.
- Feb-2021: IBM launched IBM Security Identity Governance and Intelligence (IGI). This solution is designed to help companies with a security vulnerability.
- Feb-2021: Tenable unveiled Tenable.ep, an all-in-one, risk-based vulnerability management platform. This platform is created to scale as dynamic compute needs are changing. In addition, this platform is expected to integrate Tenable's products such as Tenable.io Web Application Scanning, Tenable Lumin, Tenable.io Container Security, and Tenable.io Vulnerability Management into one platform, allowing clients to have a glimpse of all of their vulnerabilities & assets in a single dashboard together with the exploit, prioritization metrics, and key threat.
- Jul-2020: Digital Defense launched Frontline Threat Landscape, a unique feature within the company’s vulnerability management technology. This addition leverages machine-based learning to offer threat intelligence data, which offers a more granular determination of risk for vulnerabilities detected in a company’s network.
Geographical Expansions:
- Jul-2021: Skybox Security expanded its reach across the Middle East, Europe, Africa (EMEA), and the Asia Pacific and Japan (APJ) regions to fulfill the growing market demand for its Security Posture Management Platform that comprises Vulnerability Management solutions. In addition, the company raised new subscription customers by 86% in the first half of 2021 due to the increasing client demand to enhance security efficiency and minimize exposure risk over the hybrid cloud and critical infrastructure.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Software
- Services
By Type
- Content Management Systems Vulnerabilities
- API Vulnerabilities
- IoT Vulnerabilities
- Others
By Deployment Type
- Cloud
- On-premise
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- IT & Telecom
- BFSI
- Retail
- Healthcare
- Manufacturing
- Energy & Utility
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Tenable®, Inc.
- F-Secure Corporation
- Skybox Security, Inc.
- IBM Corporation
- Qualys, Inc.
- Rapid7, Inc.
- Check Point Software Technologies Ltd.
- Digital Defense, Inc. (HelpSystems, LLC)
- Tripwire Inc. (Belden, Inc.)
- AT&T Cybersecurity (AT&T, Inc.)
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Companies Mentioned
- Tenable®, Inc.
- F-Secure Corporation
- Skybox Security, Inc.
- IBM Corporation
- Qualys, Inc.
- Rapid7, Inc.
- Check Point Software Technologies Ltd.
- Digital Defense, Inc. (HelpSystems, LLC)
- Tripwire Inc. (Belden, Inc.)
- AT&T Cybersecurity (AT&T, Inc.)
Methodology
LOADING...
