The global concerns over the rising severity of cyber threats are fuelling the demands for advanced security management solutions. The adoption of cloud technologies have resulted in restricting the operational and deployment costs of the organizations to a greater extent. The associated security risks are rising with the growing adoption of cloud services. Thus, the movement of enterprises toward cloud infrastructure is one of the major drivers for the security and vulnerability management market. The rising trend of Bring Your Own Device (BYOD) is expected to catapult the demands for vulnerability management solutions for device and application assessment.
Though the security and vulnerability management market is going strong in the near future, there are various factors restraining and posing relative challenges to the market. Though companies are equipped with advanced security management products, there still exists certain lack of awareness regarding vulnerability management solutions. The regulatory compliances and concerns regarding data breaches would continue to haunt the positive traction of the market.
The report also provides an insight about the opportunities in the market for the future. The rise in mobility is expected to have a major impact on the market and to provide greater opportunities with advanced vulnerability assessment solutions. The market is expected to see the evolution of next-generation cyber security solutions with the increasing severity of cyber threats.
The report gives an insight about the number of Small and Medium Businesses (SMBs), rapidly expanding throughout the globe. These companies do not possess the capital to maintain full-fledged security management solutions. Thus, the SMB segment relies on the post-impact diagnosis and prevention methods for cyber threats. Such factors are propelling the demands for forensics and incident investigation solutions catering to the SMBs.
Security and vulnerability management technologies are a very critical part of an organization’s security strategy, as they create a consolidation point for various forms of security monitoring and can be utilized to spot a targeted attack in its early phases to reduce damage. North America is expected to be the largest market in terms of revenue contribution, while Asia-Pacific (APAC) is expected to experience increased market traction, during the forecast period.