The North America Security and Vulnerability Management Market would witness market growth of 5.6% CAGR during the forecast period (2021-2027).
In the present situation, companies are at high risk as security breaches have increased after the integration of third parties wherein automated vulnerability solutions play a vital role in providing security to the data. In addition, big data and cloud computing are giving birth to new types of vulnerabilities and hence threat management systems are likely to witness massive demand. In recent years, the demand for vulnerability management solutions has been fueled due to stringent regulations imposed by government & industry and design weakness & flaws.
One of the important factors supporting the growth of these solutions is the excessive inclination of companies towards cloud computing. This inclination has also surged the number of risks that are needed to be handled by security and vulnerability solutions to prevent companies from data and monetary losses. Moreover, the trend to bring personal devices inside the company’s premises is also rising which is anticipated to accelerate the demand for SVM solutions in the coming years. Further, the software security vulnerability assessment, mobile devices, and big data analytics are some of the other aspects that are projected to boost the growth of the market in the forthcoming years. However, one of the major barriers for the service providers of SVM is to offer effective solutions that have advanced features unlike ones offered by competitors.
The North American security and vulnerability management market has witnessed strong growth in the past few years. The rise in the number of mobile devices, the presence of key players in this market, and cloud-based networking are some of the factors boosting the growth of the regional market. Additionally, there is a growth witnessed in the cloud-managed LAN networks that have further increased the demand for security management solutions in this region.
Moreover, constantly changing business needs and an increasing number of companies are fueling the utilization of cloud-based LAN networks across this region. Likewise, significant growth in the industrial sector including IT sector companies is accountable to accelerate the demand for security and vulnerability management solutions in this region. Further, Canada and the US are the major nations contributing to the growth of the regional market. Furthermore, significant Research and Development (R&D) activities, acquisitions & mergers, partnerships, and geographical presence are the major determinants for adopting security and vulnerability management solutions. Thus, these factors are attributed to augment the regional growth of the security and vulnerability management market.
The US market dominated the North America Security and Vulnerability Management Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,791.8 million by 2027. The Canada market is experiencing a CAGR of 10.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 9.2% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Based on Type, the market is segmented into Content Management Systems Vulnerabilities, API Vulnerabilities, IoT Vulnerabilities, and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Energy & Utility, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Security and Vulnerability Management Market is Estimated to reach $20.1 Billion by 2027, at a CAGR of 7.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tenable®, Inc., F-Secure Corporation, Skybox Security, Inc., IBM Corporation, Qualys, Inc., Rapid7, Inc., Check Point Software Technologies Ltd., Digital Defense, Inc. (HelpSystems, LLC), Tripwire Inc. (Belden, Inc.), and AT&T Cybersecurity (AT&T, Inc.).
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