Patch Management Market Scope
Patch management is termed as the process which actually helps to acquire, test and install the multiple patches (code changes) on the existing applications and software tools on the computer, which enables systems to stay updated on an existing patch and to determine which patches are the appropriate ones. Managing patches thus becomes easy and simple. Patch Management is basically done by the software companies as their internal efforts part to solve problems with the different versions of the software programs and also to help analyze the existing software programs and to detect any potential lack of features related to security or other upgrades.
According to AMA, the Global Patch Management market is expected to see growth rate of 11.3% and may see market size of USD979.0 Million by 2026.
IBM (United States), Microsoft (United States), Symantec (United States), Avast (Czech Republic), Micro Focus (United Kingdom), Qualys (United States), SolarWinds (United States), SysAid Technologies (Israel), Ivanti (United States) and ManageEngine (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Automox (United States), GFI Software (United States), Jamf (United States), Chef Software (United States) and ConnectWise (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Patch Management market by Type (Patch Management Software and Patch Management Services), by Application (BFSI, Government and Defense, Retail, Healthcare, IT and Telecom, Education and Others) and Region with country level break-up.
On the basis of geography, the market of Patch Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Micro Focus acquired Interset, an Machine Learning (ML) and User and Entity Behavior Analytics (UEBA) application provider. This acquisition is expected to strengthen the cybersecurity portfolio of Micro Focus by leveraging key attributes of Interset’s technology, which include ML and advanced-analytics models, to supplement its big data analytics software Vertica and add more value to its ArcSight Security Information and Event Management (SIEM) correlation engine.
Qualys launched Patch Management, a cloud-based application that provides automated patch deployment capabilities and orchestrates full life cycle vulnerability management of OS and third-party software across global hybrid environments.
Market Trend
- Growing Demand for Up-To-Date Os/Applications
Market Drivers
- Increasing Vulnerabilities to Promote Patch Management Solutions
- Increasing Deployment of Third-Party Applications
- Favorable Government Regulations
Opportunities
- Cultural Shift From Manual to Automated Patch Management
- Increasing Market for Mobile and Web Platforms
Restraints
- Low Priority of Vulnerability Remediation
Challenges
- Lack of Awareness About Cybersecurity
- Application Compatibility and Patch Testing Issues
Analyst View
The market of patch management in Europe is witnessing growth which is very strong in terms of with significant market share generated by Europe region. The countries of Europe have formed a regulatory body which is named as ENISA, that has been working to make Europe region as cyber secure. In addition, with this European Union’s GDPR, the Information Commissioner’s Office (ICO) imposed the enforcement actions on non-compliant organizations, that will include an investigation into practices of organization and a mandate to address any aspect which falls short on the cybersecurity requirements of GDPR’s.
Key Target Audience
Government Agencies, Patch Management Vendors, Network Solution Providers, Independent Software Vendors, Consulting Firms, System Integrators, Value-Added Resellers, IT Security Agencies and Managed Security Service Providers (MSSPs)