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Patch Management Market 2020: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2027

According to Publisher, 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.
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.
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. 

Services Covered:
– Training and Education
– Support and Integration
– Consulting

Components Covered:
– Patch Management Software
– Patch Management Services

Deployments Covered:
– Cloud
– On-Premises

Features Covered:
– Compliance Management and Reporting
– Vulnerability Management

Applications Covered:
– Personal computer (PC) Terminal
– Mobile Terminal

End Users Covered:
– Banking, Financial Services, and Insurance
– Government and Defense
– Retail
– Education
– Information Technology (IT) and Telecom
– Healthcare
– Other End Users

Regions Covered:

– North America
o US
o Canada
o Mexico
– Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
– Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
– South America
o Argentina
o Brazil
o Chile
o Rest of South America
– Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa
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