Dallas, Texas, July 23, 2020 (GLOBE NEWSWIRE) — The “Patch Management Market by Type (Compliance Management and Vulnerability Management), Application (Mobile Terminal and PC Terminal), Industry Vertical (BFSI, IT & Telecom, Healthcare, Retail, Government & Defense, and Others), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) Global Forecast, 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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The global patch management market size is projected to reach USD 950 million by 2025. In addition, it is anticipated to gather a CAGR of nearly 11% over the forecast years 2018-2025. Patch management comprises installation of patches, testing, and code changing for systems such as mobiles or computers. The growing need to ensure the security and smooth functioning of systems is the key factor that drives the demand for patch management.
The current and future patch management market advances are defined to state the attractiveness of the market. Key impacting aspects focus on patch management of market opportunities during the forecast period. Factors such as the increasing need to keep applications updated are driving the market growth. In addition, supportive government laws and regulations are also boosting the global patch management market growth. Additionally, growing cloud solutions adoption across various enterprises is also one of the major factors driving the market growth. However, the regulatory and legal policies affecting the advancement of digital maps are likely to hamper the market growth. Furthermore, the growing demand for data mapping in real-time is anticipated to be opportunistic for the market.
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The report also highlights various aspects of the global patch management industry by analyzing the market through value chain analysis. Besides, the Patch Management market report covers different qualitative aspects of the patch management industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The patch management market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
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Based on type segment, the market is divided into compliance management and vulnerability management. The compliance management segment accounted for the highest growth and it is expected to hold its position over the forecast period. On the contrary in 2019, the vulnerability management segment accounted for the highest market revenue and it is projected to hold the major market share over the forecast period. The growth of this segment is primarily accredited to the increasing need to eliminate the vulnerabilities associated with applications and software.
The European region is projected to accumulate the highest growth during the forecast period due to the European governments’ GDPR that mainly focus on data protection and information security. However, the North American region dominated the overall market in 2019 and it is projected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the quick adoption of the latest technologies and the existence of major market players in this region.
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The major players of the global patch management market are Qualys, Micro Focus, IBM, Ivanti, Symantec, Avast, Microsoft, SolarWinds, ConnectWise, and Oracle. Moreover, the other prospective players in the patch management market are Chef Software, GFI Software, Automox, SysAid Technologies, and ManageEngine. The patch management market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic services and solutions to stay competitive in the global market.
Major points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Patch Management Market by Type
Chapter 6 Patch Management Market by Application
Chapter 7 Patch Management Market by Industry Vertical
Chapter 8 Patch Management Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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