26 March 2021
Visiongain has published a new report on Security and Vulnerability Management Market Report to 2031: Forecasts By Target (Content Management System Vulnerabilities, API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, and Others), By Organization Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), By Deployment Modes (On-premises and Cloud), and By Vertical (Finance and Insurance, Healthcare and Social Assistance, Retail Trade, Manufacturing, and Others). PLUS, Profiles of Leading Security and Vulnerability Management Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Security and Vulnerability Management market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Security and Vulnerability Management Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for security and vulnerability management worldwide.
Due to increased internet penetration across crucial industry verticals such as healthcare, finance and insurance, and others, the demand for security and vulnerability management solutions for the protection against cyber-attacks is driving the growth of security and vulnerability management market.
Increasing vulnerabilities across the globe
The dramatic rise in the number of digital transactions across several verticals worldwide has resulted in an increase in the occurrences of cybercrimes. Juniper Networks recently claimed that the cost associarted with data breaches is projected to reach aroud US $8 trillion. Hence, the increase in business data breaches leakages is fuelling demand for cybersecurity products and services
Growing deployment of third–party applications
Security and Vulnerability Management (SVM) offers a platform where the users can prevent the risks associated with third-party applications. Players active in the IT industry are focusing towards developing the third-party platforms for which there is a requirement to make use of more security layers, as well as to discover innovative methods for handling the cyber-threats, owing to which the growth of Security and Vulnerability Management market is expected to grow over the years.
Widespread adoption of the industrial revolution
With the emergence of Industry 4.0, the range of interconnected systems or devices has grown significantly. Being interconnected means that various entities such as customers, partners, employees, and systems are all connected across the value chain to further the business efficacy, and to establish new prospects while co-operating on a common platform. With rising interconnectedness, the threat of advanced cyber-attacks has increased over the years, as all entities in the platform become vulnerable to the attack. This calls for an enhanced security and vulnerability management.
Qualitative Insights. Some of the companies profiled in the report include IBM, AT&T, QUALYS, RAPID7, RSA, MCAFEE, TENABLE, FORESEETI, F-SECURE, and ACUNETIX.
• In November 2018, IBM launched new capabilities for its Artificial Intelligence-based security platform, QRadar Advisor, with Watson.
• In July 2019, AT&T introduced managed threat detection and response services.
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