The global patch management market size was USD 714.8 Million in 2021 and register a revenue CAGR of 10.3% over the forecast period, according to the latest analysis by Emergen Research. Rising demand for Development, Security, and Operations (DevSecOps) and surge in cyber-attacks globally and others are key factors driving global patch management market revenue growth.
Modern cloud-native applications benefit from security approach brought by DevSecOps. Securing a cloud system with distributed applications is more difficult than it seems while due to some basic features of cloud, implementing DevSecOps can be challenging. An important step in developing secure applications is to scan code for any security issues. Applications often run as packed containers in cloud, therefore, optimum approach in CI/CD systems is to test code before building it into a container image. Rising demand for Development, Security, and Operations (DevSecOps) is driving market revenue growth substantially.
The primary aim of the Patch Management Market report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Patch Management market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
International Business Machines Corporation, Microsoft Corporation, Micro Focus, Qualys, Inc., SolarWinds Worldwide, LLC., Ivanti, ManageEngine (Zoho Corporation), Avast Software s.r.o., SecPod Technologies, and Automox
Some Key Highlights from the Report
- On 30 July 2020, Qualys, Inc., and Ivanti announced an expanded partnership with an objective to provide for integration of Ivanti Patch Management technology within Qualys Vulnerability Management Detection Response (VMDR) platform. It allows customers of Qualys, Inc. to patch systems of MacOS, as well as over 70 third-party Mac applications, directly through Qualys VMDR.
- The software segment revenue is expected to account for largest share over the forecast period. By utilizing automated patch management approaches, patch management software may fully automate patch management activities and save a large amount of time, improving network performance. This is expected to drive growth of the market.
- The on-cloud segment revenue accounted for largest share in 2021. Various patch management platforms offer both cloud and on- platform support to ease the requirements of organizations. When managing and applying OS security and third-party software updates to all endpoints, cloud patch management makes use of cloud-based technologies.
- The BFSI segment revenue is expected to grow at a rapid rate over the forecast period due to rise in security incidents in financial institutions. There is a growing need for an efficient patch management program that can drive market revenue growth to a greater extent.
Research Report on the Patch Management Market Addresses the Following Key Questions:
- Who are the dominant players of the Patch Management market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Patch Management market?
- What are the key growth drivers and restraining factors of the Patch Management market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Patch Management market and its key segments?
Emergen Research has segmented the global Patch Management market on the basis of type, type of care, and region
Segments Covered in this report are:
Component Outlook (Revenue, USD Million, 2019–2030)
- Software
- Services
- Consulting
- Support & Integration
Deployment Outlook (Revenue, USD Million, 2019–2030)
- On Premise
- On-Cloud
Industry Vertical Outlook (Revenue, USD Million, 2019–2030)
- BFSI
- Government & Defense
- IT & Telecom
- Others
In conclusion, the Patch Management Market report is an exhaustive database that will help readers formulate lucrative strategies. The Patch Management Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Patch Management market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Patch Management with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
