Vulnerability Management (VM) Market - By Component (Solution, Services) By Organization (SMEs, Large Enterprises), By Deployment Model (Cloud, On-premises), By End-user & Forecast, 2024 - 2032

Vulnerability Management Market Size

Vulnerability Management Market was valued at USD 15.9 billion in 2023 and is projected to register a CAGR of over 9.2% from 2024 to 2032. Zero Trust security frameworks necessitate continuous monitoring due to an evolving threat landscape.
 

The expansion of remote work and global connectivity has increased the attack surface for organizations. Effective management of vulnerabilities is crucial to protect networks and endpoints from potential threats. Regular updates to software and applications to fix bugs and improve features further necessitate effective management to maintain system security. For instance, in October 2023, Hackuity released version 2.0 of its risk-based vulnerability management software, incorporating significant improvements to help organizations manage risks more effectively by providing a quantifiable True Risk Score (TRS) through integrating threat intelligence, vulnerability severity, and business context.
 

The adoption of cloud computing, IoT, and other advanced technologies has increased the complexity of IT environments, requiring sophisticated solutions to manage and secure interconnected systems. The rise in complex and diverse cyber-attacks necessitates advanced solutions. Organizations need to identify and mitigate vulnerabilities quickly to protect their assets and data. Technology providers are collaborating to diversify product portfolios with innovative features to strengthen their market position. For instance, in June 2024, CrowdStrike announced a strategic partnership with Hewlett Packard Enterprise (HPE) to integrate the CrowdStrike Falcon Cybersecurity platform with HPE GreenLake cloud services and OpsRamp AIOps, aiming to unify IT operations and cybersecurity, thereby enabling organizations to accelerate AI innovation securely.
 

As enterprise operations expand, vulnerability management solutions must scale accordingly. The primary challenge is ensuring that solutions can handle increased workloads without compromising performance or accuracy. Integrating these solutions with existing IT infrastructure and security tools can be difficult, leading to challenges among service providers and end-users. Compatibility issues and the need for extensive customization can impede effective implementation. Modern IT environments are increasingly complex, with numerous interconnected systems, applications, and devices. Managing vulnerabilities across such diverse environments can be challenging and resource intensive.
 

Vulnerability Management Market Trends

Organizations are increasingly focusing on identifying and prioritizing security threats based on risk, considering factors such as the likelihood of occurrence, potential impact, and remediation effort required. This shift addresses the most critical vulnerabilities first, enhancing overall security efficiency. Continuous vulnerability assessment (CVA) involves real-time monitoring of systems to detect and address threats immediately, reducing the window of opportunity for cyber attackers. As more operations move to the cloud, there is a growing focus on cloud-native vulnerabilities and configurations.
 

The zero-trust model, which assumes no entity inside or outside the network is trustworthy by default, is gaining traction. Continuous verification of identities and strict access controls are essential components of this model. Many organizations are shifting towards managed services to enhance their capabilities without significant internal resource investment. Security is being integrated into the DevOps pipeline, allowing vulnerabilities to be detected and remediated early in the software development lifecycle. This integration fosters collaboration between development and security teams and streamlines processes.
 

Vulnerability Management Market Analysis

Based on component, the sector is divided into solutions and services. In 2023, the solutions segment accounted for a market share of over 68%. Stringent regulatory requirements and industry standards mandate regular assessments and remediation, driving organizations to adopt comprehensive solutions. The growing adoption of IoT devices, cloud computing, and digital transformation initiatives across various industries necessitates advanced solutions to manage the expanded attack surface and ensure security. For instance, in February 2024, Qualys extended its Vulnerability Management, Detection, and Response (VMDR) solution to cover mobile devices, providing comprehensive security for both iOS and Android platforms.
 

Based on organization size, the vulnerability management market is categorized into SMEs and large enterprises. The large enterprises segment is expected to hold over USD 23 billion by 2032. Large enterprises typically have extensive and complex IT infrastructures, making them more vulnerable to cyber threats. Due to the scale and sensitivity of the data they handle, large enterprises are prime targets for cyberattacks. This higher risk exposure drives the need for robust practices to monitor, detect, and mitigate potential risks across diverse systems and networks.
 

Further, large enterprises often operate under stringent regulatory frameworks that mandate rigorous cybersecurity measures. Various market players are also focused on regular product launches and updates for large enterprises. For instance, in February 2024, Palo Alto Networks announced new advancements in its solutions tailored for large enterprises. Their Cortex Xpanse platform was enhanced to provide real-time, automated asset discovery and vulnerability detection across global networks, addressing the growing need for large enterprises to have comprehensive visibility and control over their extensive and complex IT environments.
 

In 2023, North America dominated the sector with around 34% of the market share. U.S. is considered a prime target for cyberattacks due to its well-established digital infrastructure. The frequency and sophistication of these attacks drive organizations to invest heavily in vulnerability management solutions. Other countries in the region, such as Canada, also have advanced IT infrastructure. Further, the presence of numerous large enterprises in critical industries, including finance, healthcare, and defense, makes the region a prime target for cyberattacks, driving the need for enhanced security measures. For instance, in April 2024, Rapid7 announced significant updates to its vulnerability management solution, InsightVM, enhancing its integration with major cloud platforms like AWS, Azure, and Google Cloud, to bolster security for cloud-based applications and provide more streamlined, comprehensive protection across diverse cloud environments.
 

European organizations are increasingly adopting risk-based approaches to cybersecurity. Rise in sophisticated cyber threats, such as ransomware attacks and advanced persistent threats (APTs), is driving European organizations to enhance their cybersecurity posture through effective vulnerability management. Small and medium-sized enterprises (SMEs) in Europe are increasingly recognizing the importance of cybersecurity. European governments are actively investing in cybersecurity infrastructure and initiatives, thus driving the market growth in the region.
 

The APAC region is experiencing rapid digital transformation, with businesses and governments increasingly adopting digital technologies. This transformation requires comprehensive cybersecurity measures, including vulnerability management, to secure digital initiatives. Further, the widespread adoption of cloud computing and the Internet of Things (IoT) in the APAC region is creating a complex and expansive attack surface. The economic growth and urbanization in the APAC region are driving the expansion of IT infrastructure and increasing the number of digital assets which requires cyber protection. This growth supports the demand for vulnerability management solutions across the region.
 

Vulnerability Management Market Share

Tenable and Qualys hold over 7% of the market share. Qualys is recognized for its comprehensive suite of IT asset and security management solutions, combining vulnerability management with IT asset management, patch management, and endpoint security.
 

Tenable is known for its flagship product, Nessus, offering solutions designed to help organizations identify, assess, and manage vulnerabilities across their IT environments. Both companies provide robust compliance and reporting features to help organizations meet regulatory requirements and internal policies.
 

Vulnerability Management Market Companies

Major players operating in the vulnerability management industry are:

• Ivanti
• McAfee
• Microsoft
• Rapid7
• Symantec
• Tenable
• Tripwire
• Qualys
   

Vulnerability Management Industry News

• In April 2024, McAfee introduced a unified solution covering both cloud and on-premises environments, integrating with McAfee’s MVISION Cloud and MVISION Endpoint to offer a seamless approach to detecting and managing vulnerabilities across diverse infrastructures.
   
• In March 2024, Tenable announced a major expansion of its capabilities, enhancing its platform to cover new cloud environments and IoT devices, providing more comprehensive security coverage as organizations increasingly adopt cloud services and IoT technologies.
   

The vulnerability management market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Component

• Solution
  • Security information and event management
  • Policy and compliance
  • Forensic and incident investigation
  • Device vulnerability assessment
  • Application vulnerability assessment
• Services
  • Consulting
  • Support
  • Integration

Market, By Organization

• SMEs
• Large enterprises

Market, By Deployment model

• Cloud
• On-premises

Market, By End-user

• IT & telecom
• BFSI
• Healthcare
• Retail
• Manufacturing
• Energy & Utility
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA