Patch Management Market Demand, Investment Feasibility and Forecast to 2030

1. 2022 Patch Management Market Opportunities, and Trends in Coming Years

2. Business organizations across industries are increasingly adopting automation solutions, as they help achieve optimal efficiency, reduce operational costs, and improve productivity. The automation of information technology (IT) departments facilitates the installation of missing patches through automated workflows, to avoid the requirement for manual remediation. Thus, the increasing deployment of automated solutions in IT departments of businesses will facilitate the adoption of patch management software, globally. Additionally, automation of enterprises will also create an extensive requirement for training, consulting, integration and support, data protection, cloud computing, software development, and network security services. Moreover, the surging need to mitigate vulnerabilities in the software will drive the patch management market at a healthy CAGR of 17.8% during the forecast period (2020–2030). According to P&S Intelligence, the patch management market revenuestood at $535.4 million in 2019 and it will reach $3,245.6 million by 2030. In recent years, servers of enterprises have become extremely vulnerable to cyber-attacks due to the growing internet penetration. To reduce the surging risks, businesses are deploying security solutions and keeping systems updated.

3. In the preceding years, on-premises patch management solutions were preferred over cloud-based solutions, as the former offers full control over the data of an organization and provides improved security from external threats. Furthermore, in the coming years, cloud-supported solutions will also be adopted on a large scale as they help reduce the total cost of ownership. Cloud-enabled patch management solutions are cost-effective because they do not require enterprises to deploy or maintain data centers and allow business organizations to focus on their core business to attain optimum efficiency. The industry segment of the patch management market is classified into education, IT and telecom, retail, healthcare, government, banking, financial services, and insurance (BFSI), and others, such as manufacturing, hospitality, entertainment, and automotive. Among these, the BFSI category is expected to exhibit the fastest growth throughout the forecast period, as this sector has to follow stringent safety and security regulations to protect data and keep its systems updated. This industry uses patch management software to meet compliance standards in a timely manner. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/patch-management-market/report-sample

4. Globally, the North American region was the largest user of patch management solutions in the recent past, and it is expected to retain its dominance in the foreseeable future as well. In the region, the U.S. was the dominant user of such solutions, due to the numerous cases of cyber-attacks and strong presence of patch management solution providing companies in the nation, such as HPE Company, Microsoft Corporation, Ivanti Inc., Oracle Corporation, Micro Focus International Plc., and Qualys Inc. Whereas, the Asia-Pacific (APAC) patch management market is expected to demonstrate the fastest growth during the forecast period, owing to the surging number of small and medium-sized enterprises (SMEs) in the region. Deployment of patch management solutions in SMEs helps in preventing the need for manual remediation of identified nodes or gaps, which is otherwise not feasible in such organizations due to their small IT departments. Currently, SMEs are leveraging on such digital technologies to keep their systems updated and meet the evolving security and compliance standards. Therefore, the rising shift toward automation solutions and the increasing incidence of cyber-attacks will accelerate the adoption of patch management solutions in the forthcoming years.

5. Market Segmentation by Component • Software • Service • Training • Consulting • Integration and support • Others (data protection, software development, cloud computing, and network security) • Market Segmentation by Deployment Type • Cloud • On-Premises • Market Segmentation by Feature • Vulnerability Management • Compliance Management • Market Segmentation by Industry • Banking, Financial Services, and Insurance (BFSI) • IT & Telecom • Government • Healthcare • Retail • Education • Others (Manufacturing, Automotive, Hospitality, and Entertainment)

6. Market Segmentation by Region • North America Patch Management Market • U.S. and Canada • Europe Patch Management Market • U.K., Germany, France, Russia, Switzerland, and Rest of Europe • Asia-Pacific (APAC) Patch Management Market • China, India, Japan, Australia, South Korea, Singapore, New Zealand, and Rest of APAC • Rest of the World (RoW) Patch Management Market • Brazil, Saudi Arabia, South Africa, U.A.E., Mexico, and others

7. This study covers 1. Historical and the present size of the Patch Management Market 2. Historical and the present size of the market segments and understand their comparative future potential 3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 4. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders 5. Major players operating in the market and their service offerings

8. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. the information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. • For queries related to sales, contact us at: • enquiry@psmarketresearch.com • US/Canada Toll-Free: 1-888-778-7886 • International: +1-347-960-6455 • India: +91 120 4541 337 To know more about us, visit our website psmarketresearch.com