Patch and Remediation Software Market To Reach US$ 3.0 Bn by 2031
According to latest research by Fact.MR the Patch and Remediation Software market is estimated to reach around US$ 3.0 Bn by 2031 with an expected CAGR of 10%. The increasing software vulnerabilities will provide opportunities in near future, along with emerging use of automation solution, that will drive the market growth.
What is Driving Demand for Patch and Remediation Software?
The majority of cyber-attackers take advantage of software vulnerabilities, to exploit system data. According to Verizon Data Breach Investigations Report, around 70% of successful cyberattacks exploited known vulnerabilities with available patches. So it is important to update the OS and applications regularly to prevent such attacks.
The demand for updated OS and applications is increasing as updates make computer or devices safer and help in keeping hackers away from exploiting vulnerable spots. Increasing demand for updated OS and applications is driving the patch and remediation software market.
Patch and remediation software can help to fix the code that allow hackers to install damaging malware that can delete important files or information on the computer or devices. Patch and remediation software helps to keep machines up-to-date, safe from malware and stable.
Gaming Platform Likely to Augment Patch and Remediation Software Sales
Video games use cutting-edge technologies comprising advanced hardware and software to deliver a compelling entertainment experience to the users. The gaming market is growing continuously, and is expected to continue its expansion in the foreseeable future. Gaming companies are adopting patch and remediation software to monitor and report missing or operation-critical patches and for updating the gaming software or application regularly.
Moreover, online gamers have to deal with common threats, such as malware-wrapped game installers, and thus, gaming companies are investing heavily in cyber threat counter measures, and are adopting patch and remediation software to pursue market expansion by releasing games on a larger number of platforms to attract more people to play.
Europe Patch and Remediation Software Market Outlook
In Europe there have been a number of high profile government initiatives to spur the digital health system. According to UK's National Health Service (NHS), the usage of digital healthcare services soared in 2020, according to data compiled by NHS Digital.
The healthcare industry has become one of the most targeted sectors for cyber-attacks, due to increasing usage of healthcare related software and applications. These software and application store confidential and personal information of patients, doctors and staff. Data stolen from the medical industry includes information related to patients, their medical history, bills, and other records, which can be misused by cyber criminals to create fake IDs for claiming insurance or additional gains.
Moreover, due to the increased usage of various software and applications like remote patient monitoring, healthcare information system (HIS), and others in the healthcare industry, the data protection become critical. The information is stored on cloud which do not offer appropriate security, and are prone to viruses and cyber-attacks. Thus, to combat such cyber threats, many healthcare organizations are adopting patch and remediation software for regularly updating the software and applications and to prevent the critical information of patients and staff.
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APAC Demand Outlook for Patch and Remediation Software
Organizations of all sizes in the APAC region are embracing digital transformation, resulting in an explosion of new software, platforms, applications, devices, and technologies, including cloud, SaaS, mobile, IoT, and devOps. Growing digitization in countries such as Indian, Japan, Singapore, Indonesia and others, has broadened the ways for new cyber threats, and this is prompting enterprises to opt for newer and better security solutions which help them to get the visibility and focus required on closing the cyber exposure gap against a modern attack surface.
Digitization has resulted in the emergence of multichannel integration and various customer interfaces that are vulnerable. Hence, it is vital for enterprises to stay ahead on security by protecting information with patch and remediation software. Thus, growing digitization has created potential opportunities for patch and remediation software which help in monitoring and managing the modern attacks and reduce the risk of cyber threats.
Who are the Key Providers of Patch and Remediation Software?
Some of the leading patch and remediation software providers include Lumension Security, LANDesk Software, Broadcom Inc., McAfee, Microsoft Corporation, IBM Corporation, Numara Software, LogMeIn, Shavlik Technologies, Micro Focus, Avast, SysAid Technologies, SmiKar Software, among others.
Patch and remediation software vendors adopt various expansion strategies for enhancing their presence and increasing the market share in the global market. The strategies that patch and remediation software follow include acquisitions, partnership and collaborations with other players, new product launches, and strengthening of regional and global distribution networks.
For instance, in Feb 2019, IBM entered into partnership with Qualsys for integrating the IBM’s X-Force Red’s Vulnerability management services with Qualsys patch management solution. This integration automates the vulnerability prioritization and patching which helps in reducing the time for vulnerability remediation.
An Adaptive Approach to Modern-day Research Needs
Patch and Remediation Software Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Patch & Remediation Management Software
- Security Patching & Support
- Security Consulting
- Implementation Services
By Enterprise Size
- Large Enterprises
- IT & Telecom
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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