Market Size of Security And Vulnerability Management Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 14.45 Billion |
Market Size (2029) | USD 21.65 Billion |
CAGR (2024 - 2029) | 7.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Security and Vulnerability Management Market Analysis
The Security and Vulnerability Management Market size is estimated at USD 14.45 billion in 2024, and is expected to reach USD 21.65 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).
- The task of defending against the continuous breach of information security lies with organizations in all sectors. Security professionals must continue to keep pace with the risks and leverage technologies, policies, and procedures that safeguard them against an incoming attack and secure sensitive data. This has led to the growth of the market.
- Also, as organizations accelerate their digital transformation initiatives, they need to quickly make changes to their core business applications without compromising security across on-premise, SDN, and cloud environments. To manage this process, IT and security teams must be able to see the whole network infrastructure and have fine-grained control over it.
- As per the Center for Strategic and International Studies and McAfee, cybercrimes, which include damage and destruction of data, stolen money, lost property, theft of intellectual property, and other areas, currently cost the world almost USD 600 billion each year, or 0.8% of global GDP. Such factors are expected to increase the growth of security and vulnerability management software and services.
- BYOD trends have become more and more common in workplaces as a result of the advent of mobile devices and high-speed Internet. For example, according to Dell, about 60% of employees use a smartphone for work. Such trends are further increasing the market growth for user authentication.
- The cyber-world is likely to see an increase in the occurrence and spread of new threats and attacks as more devices are getting connected to the Internet. The WannaCry and Petya attacks, which affected over 150 countries worldwide, have highlighted the vulnerability of devices as endpoints.
Security and Vulnerability Management Industry Segmentation
Security and vulnerability management is identifying, classifying, and mitigating networking software or hardware vulnerabilities. It has become integral to an enterprise’s security in recent years. Vulnerability management utilizes technology that seeks out security flaws and tests systems for weak points, allowing the clients to identify and quantify where the network is at risk and prevent unnecessary weak points. These factors are expected to increase the demand for these solutions.
The security and vulnerability management market is segmented by the size of organization (small and medium enterprises, large enterprises), end-user industry (aerospace, defense and intelligence, BFSI, healthcare, retail, manufacturing, IT and telecommunication, and other end-user industries), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The report offers the market size in value terms in USD for all the abovementioned segments.
By Size of the Organization | |
Small and Medium Enterprises | |
Large Enterprises |
By End-user Vertical | |
Aerospace, Defense, and Intelligence | |
BFSI | |
Healthcare | |
Manufacturing | |
Retail | |
IT and Telecommunication | |
Other End-user Industries |
By Geography*** | |
North America | |
Europe | |
Asia | |
Australia and New Zealand | |
Latin America | |
Middle East and Africa |
Security And Vulnerability Management Market Size Summary
The security and vulnerability management market is experiencing significant growth, driven by the increasing need for organizations across various sectors to protect sensitive data and defend against cyber threats. As digital transformation accelerates, businesses are compelled to adapt their core applications swiftly while maintaining robust security across on-premise, software-defined networks, and cloud environments. The rise in cybercrimes, which incur substantial global costs, further propels the demand for advanced security solutions. The proliferation of mobile devices and the trend towards Bring Your Own Device (BYOD) in workplaces are also contributing to the market's expansion, necessitating enhanced user authentication and security measures. The financial sector, particularly in regions like the United States, faces heightened risks due to the digitalization of services, prompting banks and financial institutions to invest in sophisticated security technologies to safeguard customer information and comply with regulatory requirements.
In the Asia-Pacific region, the increasing frequency of cyberattacks and data breaches is fostering a growing demand for security and vulnerability management solutions. Countries such as Australia, Japan, and Singapore are leading the adoption of these solutions, supported by comprehensive cybersecurity strategies and government initiatives aimed at strengthening security infrastructure. The market is characterized by moderate competition, with major players like Microsoft, IBM, and CrowdStrike engaging in strategic partnerships and product innovations to enhance their offerings. The introduction of new technologies, such as Azure DDoS IP Protection and advancements in cloud security, underscores the industry's commitment to addressing emerging threats and improving resilience. As governments continue to allocate significant resources towards cybersecurity, the market is poised for sustained growth, with opportunities for vendors to expand their presence in developing regions.
Security And Vulnerability Management Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Introduction to Market Dynamics
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1.2 Market Drivers
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1.2.1 Increasing Number of Cyber Attacks
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1.2.2 Growing Adoption of Cloud Computing by Enterprises
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1.3 Market Restraints
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1.3.1 Lack of Awareness Toward SVM Solutions
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1.3.2 Scalability and Deployment Costs
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2. MARKET SEGMENTATION
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2.1 By Size of the Organization
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2.1.1 Small and Medium Enterprises
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2.1.2 Large Enterprises
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2.2 By End-user Vertical
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2.2.1 Aerospace, Defense, and Intelligence
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2.2.2 BFSI
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2.2.3 Healthcare
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2.2.4 Manufacturing
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2.2.5 Retail
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2.2.6 IT and Telecommunication
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2.2.7 Other End-user Industries
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2.3 By Geography***
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia
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2.3.4 Australia and New Zealand
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2.3.5 Latin America
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2.3.6 Middle East and Africa
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Security And Vulnerability Management Market Size FAQs
How big is the Security and Vulnerability Management Market?
The Security and Vulnerability Management Market size is expected to reach USD 14.45 billion in 2024 and grow at a CAGR of 7.5% to reach USD 21.65 billion by 2029.
What is the current Security and Vulnerability Management Market size?
In 2024, the Security and Vulnerability Management Market size is expected to reach USD 14.45 billion.