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Global Vulnerability Management Market Outlook 2020-2023
Market researcher ResearchandMarkets.com has published its market outlook for vulnerability management tools.
ResearchandMarkets.com has conducted a market trends analysis for the years 2018 through 2023 and predicts that the vulnerability management tools market will grow in size from US$893 million (2018 figure) to US$1.638 billion by 2023. This represents a CAGR (Compound Annual Growth Rate) of 12.9%.
In light of this market prediction, ResearchandMarkets.com’s position on vulnerability management vendors is as follows:
“As a mature, 20-year-old market, suppliers have their fundamentals down pat, with slight variations in performance and scale that can make the case for differentiation in certain vertical markets. However, with threats mounting, network complexity increasing, customer in-house expertise declining, and data volumes skyrocketing, customers are pushing VM suppliers to step up their game in many areas.”
ResearchandMarkets.com also highlights labor shortages that exist within the security industry and recognizes the efforts of vulnerability management vendors in developing more user-friendly and intuitive tools for security analysts.
Fuel Fox, citing data from Data Bridge Market Research’s report with an extended timespan, predicts a CAGR of 10.28% over a forecast period of 2019 to 2016.
ResearchandMarkets.com’s note on vendor differentiation is evident; as a recent example, Qualys had announced its new product offering, VMDR (Vulnerability management, Detection, and Response) at RSA Conference 2020, which adds patch deployment and asset management to its vulnerability management offering.
The forecasted market growth rate of vulnerability management is indicative of the increased risk of vulnerabilities to which organizations are exposed. Although the vulnerability management market itself is quite mature, the doubling of the market for tools coupled with an increased prevalence of organizational security compromise demonstrates the glaring number of organizations that are still unprepared for an attack.
Additionally, it’s noted that the global COVID-19 pandemic has increased the need for vigilance in vulnerability management as organizations’ attack surfaces may have widened due to the proliferation of remote workers and a remote work environment. Information Security department must remain diligent! Now is not the time to ease up on vulnerability management.
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