Global Patch Management Market Set to Grow at Healthy CAGR of 11.2% by 2026

Posted by nileshdbmr on December 18th, 2019

Global patch management market is growing at a healthy CAGR of 11.2% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.

Major Market Players

Few of the major competitors currently working in global patch management market are Dell, IBM Corporation, Micro Focus, Symantec Corporation, Skybox Security, Inc., AlienVault, Qualys, Inc., Microsoft, NetSPI LLC,  Zoho Corporation Pvt. Ltd, Cisco, SysAid Technologies Ltd., Versata, Automox, swipx ApS, GFI Software and SolarWinds Worldwide, LLC., among others.

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Patch management is the method that helps to obtain, test and install various patches (code modifications) on current apps and software instruments on a desktop which allows system to remain up-to-date on current patches and to determine the suitable patches. This makes it easy and simple to manage patches. The patch management is done by the software companies to manage the latest versions of software which analyse the software programs and helps to detect any potential lack of security features.

Segmentation: Global Patch Management Market

• By Component (Patch Management Software, Services)
• By Service (Consulting, Support & Integration, Training and Education)
• By Feature (Vulnerability Management, Compliance Management and Reporting)
• By Deployment (Cloud, On-Premises)
• By Vertical (Banking, Financial Services, and Insurance (BFSI), Government & Defence, Retail, Healthcare, Education, Others, IT & Telecom)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis

Global patch management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of patch management market for Global, Europe, North America, Asia-Pacific, South America and Middle East and Africa.         

Market Drivers:

• Increasing patch management solutions vulnerabilities is driving the growth of the market
• Rising need of up to date software will propel the market growth
• Growing third party application deployment is a driver for the market
• Government regulations for promoting patch management may boost the growth of the market

Market Restraints:

• Low vulnerability priority reduction is restraining the growth of the market
• Lack of awareness for cyber security will hamper the market growth
• Patch testing and compatibility issues may also restrict the growth of the market

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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