Patch Management Market Revenue, Trend 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
(20202030). According to PS Intelligence, the
patch management market revenue stood 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-an
alysis/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

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 PS Intelligence always keeps its
customers interests at the core while carrying
out research activities. PS 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. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS 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. PS
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 PS
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.