Patch Management - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Patch Management market accounted for $522.62 million in 2018 and is expected to reach $1,532.87 million by 2027 growing at a CAGR of 12.7% during the forecast period. Some of the key factors such as increasing demand for up-to-date applications and ideal government rules & guidelines are driving the market growth. However, low priority of vulnerability remediation act as the restraining factors for the market growth. Moreover, developing market for mobile and web platforms and increased rupture of data and instabilities emerging out of inappropriate execution of patching solutions will provide ample opportunities for the growth of the market.
Patch management is essential for the testing and installation of various changes in the code to existing application or software tools. The procedure ensures repair of system vulnerabilities found post-release of the infrastructure segments. It is a service generally delivered by software companies. The software companies offer these services in order to fix bugs. Various versions of the software are offered to evaluate the current bugs and identify a security hole. They are detected only after the initial release of a software program and patches assist in correcting these bugs. On certain occasions, patches are installed to improve certain functionalities of the program.
By deployment, On-premises segment is going to have a lucrative growth during the forecast period. On-premises solutions provide organizations with full control over all their foundations, applications, frameworks, and data, which can be taken care of and managed by their own IT staff. The organizations where user credentials are critical for business activities would prefer this deployment, as it gives them the flexibility to control their IT frameworks. By geography, Europe is likely to have a huge demand due to the high growth in emerging countries such as UK, Germany, and France in regards to the advantages of patching, combined with an expansion in the number of applications and Operating System (OS), has led to the market growth in the region.
Some of the key players in this market include Microsoft, IBM, Symantec, ManageEngine, a Division of Zoho Corporation, Avast, Chef Software, Automox, SolarWinds, Ivanti, SysAid Technologies, GFI Languard Software, Micro Focus, Qualys, ConnectWise and Jamf.
• Training and Education
• Support and Integration
• Patch Management Software
• Patch Management Services
• Compliance Management and Reporting
• Vulnerability Management
• Personal computer (PC) Terminal
• Mobile Terminal
End Users Covered:
• Banking, Financial Services, and Insurance
• Government and Defense
• Information Technology (IT) and Telecom
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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