Vulnerability Management (VM) Market Size

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.

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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.