Overview and Scope
Patch and remediation software refer to tools used in computer systems and networks to fix risks, defects, or security problems in software applications, operating systems, or firmware. They assist organizations in staying ahead of potential threats and reducing the risk of hacking and other security disasters.
Sizing and Forecast
The patch and remediation software market size has grown rapidly in recent years. It will grow from $1.41 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to the increased cyberattacks, increased vulnerability scanners, rise in security and data breaches, increased awareness and education, and the increased globalization of businesses.
The patch and remediation software market size is expected to see rapid growth in the next few years. It will grow to $3.44 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to the rising remote workforces, growing IT infrastructures, the rising zero-day vulnerabilities, focus on operational efficiency, demand for integrated security solutions, and focus on user-centric patching. Major trends in the forecast period include threat intelligence platforms, cloud-native patch management solutions, enhanced visibility and reporting, adoption of AI-driven automation, AI-powered patch management solutions, and security orchestration, automation, and response (SOAR) platforms.
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Segmentation & Regional Insights
The patch and remediation software market covered in this report is segmented –
1) By Types: Security Updates, Windows Updates, Service Packs
2) By Component: Solution, Services
3) By Deployment: On-Premise, Cloud-Based
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry Vertical: Banking Financial Services And Insurance (BFSI), Healthcare And Life Sciences, Information Technology (IT) And Telecommunications (Telecom), Energy And Utilities, Manufacturing, Transportation, Retail, Other Industry Verticals
North America was the largest region in the patch and remediation software market in 2023. The regions covered in the patch and remediation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing cyber threats are expected to propel the growth of the patch and remediation software market going forward. Cyber threats refer to malicious acts intended to steal or damage data, disrupt digital well-being, or compromise the security of information systems. Cyberthreats arise due to several factors, such as increased connectivity, a lack of security awareness, a shift to remote work, and sophisticated attack techniques. Patch and remediation software helps organizations stay ahead of cyber threats by updating their systems with the latest security updates and patches. It assists in identifying, prioritizing, and implementing solutions, lowering the risk of attack. For instance, in January 2024, according to a report published by the Identity Theft Resource Center (ITRC), a US-based non-profit organization, the number of data compromises in 2023 was 3,205, which increased by 78% from 1,801 in 2022. Therefore, growing cyber threats are driving the patch and remediation software market.
Key Industry Players
Major companies operating in the patch and remediation software market report are Microsoft Corporation; Verizon Communications Inc.; International Business Machines Corporation; Broadcom Inc.; Red Hat Inc.; Micro Focus International plc; BMC Software Inc.; GoTo Group; Avast Software; Zoho Corporation Pvt. Ltd.; SolarWinds Worldwide LLC; Ivanti; Qualys Inc.; Flexera Software LLC; Kaseya Limited; Chef Software Inc.; Puppet; Comodo Group Inc.; SysAid Technologies; NetSPI LLC; Verve Industrial Protection; Patchworx; JetPatch; SmiKar Software; Lumension Security Inc.
The patch and remediation software market report table of contents includes:
1. Executive Summary
2. Patch And Remediation Software Market Characteristics
3. Patch And Remediation Software Market Trends And Strategies
4. Patch And Remediation Software Market – Macro Economic Scenario
5. Global Patch And Remediation Software Market Size and Growth
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31. Patch And Remediation Software Market Other Major And Innovative Companies
32. Global Patch And Remediation Software Market Competitive Benchmarking
33. Global Patch And Remediation Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Patch And Remediation Software Market
35. Patch And Remediation Software Market Future Outlook and Potential Analysis
36.Appendix
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