The Global Attack Surface Management Market size is expected to reach $5.9 billion by 2031, rising at a market growth of 30.4% CAGR during the forecast period.
Attack surface management solutions help retailers and e-commerce businesses assess and manage third-party risk by identifying and monitoring external dependencies, conducting security assessments, and enforcing security policies and standards. Thus, the retail and e-commerce segment acquired $91.1 million revenue in 2023.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In, February 2024, IBM Corporation formed a partnership with Wipro Limited, under this partnership, the companies unveiled the Wipro Enterprise Artificial Intelligence (AI)-Ready Platform. Additionally, In, October 2023, Microsoft Corporation expanded its partnership with Siemens AG. The integration between Siemens Teamcenter software and Microsoft Teams was launched, simplifying virtual collaboration across business functions.
The proliferation of Internet of Things (IoT) devices and connected systems has ushered in a new era of digital connectivity and convenience, transforming enterprise and consumer environments. However, this widespread adoption of IoT technology has also introduced significant security challenges, as each connected device represents a potential entry point for cyber attackers. Therefore, these factors can drive the expansion of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Competition in the ASM market is fierce, with numerous vendors offering solutions with varying features and capabilities. Some of the key players in the ASM market included companies like IBM Corporation, Microsoft Corporation, Qualys, Tenable, and many others. These vendors were constantly innovating to stay ahead in the market by offering features such as comprehensive asset discovery, vulnerability management, risk prioritization, and threat intelligence integration.
Attack surface management solutions help retailers and e-commerce businesses assess and manage third-party risk by identifying and monitoring external dependencies, conducting security assessments, and enforcing security policies and standards. Thus, the retail and e-commerce segment acquired $91.1 million revenue in 2023.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In, February 2024, IBM Corporation formed a partnership with Wipro Limited, under this partnership, the companies unveiled the Wipro Enterprise Artificial Intelligence (AI)-Ready Platform. Additionally, In, October 2023, Microsoft Corporation expanded its partnership with Siemens AG. The integration between Siemens Teamcenter software and Microsoft Teams was launched, simplifying virtual collaboration across business functions.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; Microsoft Corporation and Google LLC (Alphabet Inc.) are the forerunners in the Attack Surface Management Market. In October, 2023, Microsoft Corporation came into partnership with Rockwell Automation, Inc., an American provider of industrial automation and digital transformation technologies. Through this partnership, Microsoft Corporation would harness the potential of Generative AI capabilities to boost productivity and accelerate time-to-market. Companies such as Cisco Systems, Inc., IBM Corporation, Palo Alto Networks, Inc. are some of the key innovators in Attack Surface Management Market.
Market Growth Factors
The landscape of cyber threats constantly evolves, presenting organizations with an ever-growing array of challenges and risks. Advanced persistent threats (APTs), ransomware attacks, and zero-day vulnerabilities stand out as pernicious and difficult to defend against. Thus, these aspects will help in the growth of the market.The proliferation of Internet of Things (IoT) devices and connected systems has ushered in a new era of digital connectivity and convenience, transforming enterprise and consumer environments. However, this widespread adoption of IoT technology has also introduced significant security challenges, as each connected device represents a potential entry point for cyber attackers. Therefore, these factors can drive the expansion of the market.
Market Restraining Factors
Attack surface management solutions encompass various technologies and methodologies designed to identify, analyze, and mitigate security risks across diverse digital assets and environments. From vulnerability scanning and asset discovery to threat intelligence integration and risk prioritization, these solutions offer comprehensive capabilities to enhance organizations’ security postures in the face of evolving cyber threats. Hence, these factors can hamper the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Driving and Restraining Factors
Drivers- Rapidly evolving cyber threat landscape
- Proliferation of Internet of Things (IoT) devices and connected systems
- Growing adoption of cloud services and digital transformation initiatives
- Complexity of attack surface identification and management solutions
- Limited integration and interoperability with existing security infrastructure
- Shift to remote workforces amplifies
- Heightened awareness of supply chain security risks
- Regulatory compliance and data privacy concerns
- Concerns related to data overload and alert fatigue
Deployment Mode Outlook
Based on deployment mode, the market is bifurcated into cloud and on-premise. In 2023, the on-premise segment witnessed a 46.2% revenue share in the market. On-premises ASM solutions offer greater flexibility for customization and integration with existing security infrastructure and workflows.Component Outlook
Based on component, the market is bifurcated into solution and services. The solution segment held the largest revenue share, 71.4% in the market in 2023. Attack surface management solutions have become essential tools for monitoring and securing remote endpoints, cloud infrastructure, and other digital assets, providing organizations with the visibility and control needed to protect against cyber threats in a distributed work environment. Therefore, these factors can assist in the expansion of the segment.
Enterprise Size Outlook
On the basis of enterprise size, the market is divided into large enterprise and small & medium enterprise. In 2023, the small and medium enterprise segment witnessed a 32% revenue share in the market. Cybercriminals are increasingly targeting SMEs due to their perceived vulnerabilities and limited resources to invest in robust cybersecurity measures.Vertical Outlook
Based on vertical, the market is segmented into BFSI, retail & e-commerce, government & defense, healthcare, IT & ITeS, energy & utilities, and others. The IT and ITeS segment procured an 18% revenue share in the market in 2023. As organizations modernize their IT infrastructure and adopt new digital technologies, the attack surface expands, creating new challenges for cybersecurity professionals.Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a 40% revenue share in the market in 2023. North America boasts a thriving cybersecurity ecosystem comprising leading technology vendors, startups, research institutions, and academic centres.Market Competition and Attributes
Competition in the ASM market is fierce, with numerous vendors offering solutions with varying features and capabilities. Some of the key players in the ASM market included companies like IBM Corporation, Microsoft Corporation, Qualys, Tenable, and many others. These vendors were constantly innovating to stay ahead in the market by offering features such as comprehensive asset discovery, vulnerability management, risk prioritization, and threat intelligence integration.
Recent Strategies Deployed in the Market
- Apr-2024: Cisco Systems, Inc. completed the acquisition of Isovalent, Inc., a cloud-native networking and security company. Under this acquisition, Isovalent's innovative technology portfolio will be integrated into Cisco Security Cloud Vision, an AI-driven, cloud-delivered, integrated security platform. Moreover, the acquisition will improve insight into interactions within cloud-native environments, facilitating the seamless establishment and enforcement of policies across software-defined networks.
- Feb-2024: IBM Corporation formed a partnership with Wipro Limited, an Indian multinational corporation that provides information technology, consultant and business process services. Under this partnership, the companies unveiled the Wipro Enterprise Artificial Intelligence (AI)-Ready Platform. The new product provides clients with an interoperable solution designed to expedite the adoption of AI technologies.
- Dec-2023: Palo Alto Networks, Inc. completed the acquisition of Talon Cyber Security Ltd., an Israel-based provider of cybersecurity technologies. Through this acquisition, the Enterprise Browser of Talon was integrated with Prisma SASE of Palo Alto Networks. Additionally, the acquisition helped the customers access business applications and deliver other experiences simultaneously.
- Dec-2023: Palo Alto Networks, Inc. completed the acquisition of Dig Security Solutions Ltd., a cloud data security startup. Through this acquisition, the cutting-edge abilities of Dig Security were combined with the Prisma Cloud platform of Palo Alto Networks. Additionally, the acquisition provided the organizations with real-time data protection over the cloud.
- Nov-2023: Palo Alto Networks, Inc. launched Strata Cloud Manager, the industry's first AI-powered Zero Trust management and operations solution. Through this product, the company will ensure uninterrupted network uptime, bolster network security through industry-leading practices, and simplify network security management for heightened efficiency.
List of Key Companies Profiled
- Palo Alto Networks, Inc.
- IBM Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- Google LLC (Alphabet Inc.)
- Trend Micro, Inc.
- Qualys, Inc.
- Tenable Holdings, Inc.
- Crowdstrike Holdings, Inc.
- BitSight Technologies, Inc.
Market Report Segmentation
By Deployment Mode- Cloud
- On-premise
- Solution
- Services
- Large Enterprise
- Small & Medium Enterprise
- BFSI
- Healthcare
- Government & Defense
- IT & ITeS
- Energy & Utilities
- Retail & E-Commerce
- Others
- 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
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Attack Surface Management Market by Deployment Mode
Chapter 6. Global Attack Surface Management Market by Component
Chapter 7. Global Attack Surface Management Market by Enterprise Size
Chapter 8. Global Attack Surface Management Market by Vertical
Chapter 9. Global Attack Surface Management Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Palo Alto Networks, Inc.
- IBM Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- Google LLC (Alphabet Inc.)
- Trend Micro, Inc.
- Qualys, Inc.
- Tenable Holdings, Inc.
- Crowdstrike Holdings, Inc.
- BitSight Technologies, Inc.
Methodology
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