Patch Management Market Size Is Projected to Reach USD 1,721.6 Million in 2030, Growing at a CAGR of 10.3%: Emergen Research

Emergen Research | Patch Management Market
Rising demand for Development, Security, and Operations (DevSecOps) and surge in cyber-attacks globally are driving global patch management market revenue growth

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 study on the Global Patch Management Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Patch Management market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Patch Management industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Patch Management industry.

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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.

Leading Companies of the Patch Management Industry and Profiled 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.

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Furthermore, the report divides the Patch Management market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.

Emergen Research has segmented the global patch management market based on component, deployment, industry vertical, and region:

Component Outlook (Revenue, USD Million, 2019–2030)
Software
Services
Consulting
Support & Integration
Deployment Outlook (Revenue, USD Million, 2019–2030)
On Premises
Cloud
Industry Vertical Outlook (Revenue, USD Million, 2019–2030)
BFSI
Government & Defense
IT & Telecom
Others

Regional Analysis:

The report sheds light on the region expected to dominate the Patch Management market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Patch Management market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Key Points of Patch Management Market:

Extensive coverage of the analysis of the Patch Management market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Patch Management market
Complete data about the key manufacturers and vendors in the Patch Management market

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About Emergen Research

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 analyze 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.

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