The major driver for the growth of the patch management market is the increasing need to make the system less vulnerable to security threats. Due to the rising vulnerabilities, the IT system of companies is rapidly being hacked, with the intent of causing harm. The impact of such attacks on integrity, availability of data, confidentiality, and complexity of attacks can be studied to determine the severity of the vulnerabilities. Though the internet has opened doors of growth, it has also increased the risk of cyber-attacks.
Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/patch-management-market/report-sample
The highly competitive patch management market is characterized by the presence of several players, including Micro Focus International plc, Microsoft Corporation, ManageEngine, HPE Company, Symantec SA, Avast PLC, Cisco Systems Inc., and Oracle Corporation. In November 2019, Qualys Inc, a provider of cloud-based compliance and security solutions, entered into a partnership with Microsoft, to integrate its container security and vulnerability management features with Microsoft Azure.
From $535.4 million in 2019, the patch management market is expected to grow to $3,245.6 million by 2030, at a CAGR of 17.8% during 2020–2030 (forecast period). The banking, financial services and insurance (BFSI) category led the market in 2019, among all industries, as the sector faces constant cyber threats from external as well as internal sources. This is leading to a strong focus on the adoption of vulnerability management and security solutions to secure customers’ financial data.
Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=patch-management-market
On the geographical basis, Asia-Pacific (APAC) and North America held over 60.0% share in the patch management market in 2019. North America is home to a large number of multinational enterprises, and its IT infrastructure is also rather developed. Due to the prevailing cyber-attack risk, companies in the region are rapidly adopting such solutions to reduce their vulnerability. Additionally, with the increasing need to update the security patches, the market is progressing in the region.
Market Street 