Global VM Market Sees Strong Growth Due to Rise in Cyber Threats, Finds Frost & Sullivan
The buoyant global vulnerability management (VM) market is expected to reach $2.51 billion by 2025 due to greater investments in cybersecurity by enterprises
SAN ANTONIO, Oct. 6, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis on the Global Vulnerability Management Market finds that enterprises are becoming more vulnerable to cyber-attacks as they embrace digital transformation initiatives. This is due to an expanded attack surface resulting from multiple touchpoints through an open network and easy accessibility to databases and applications. An expanded attack surface has triggered the need for greater investments in vulnerability management (VM) solutions. Given this demand, the global VM market is expected to reach $2.51 billion by 2025, expanding at a compound annual growth rate (CAGR) of 16.3%.
From a regional perspective, North America will continue to dominate the VM market over the forecast period. The recent executive order to improve US cybersecurity is one of the main demand drivers in the region. Europe, the Middle East, and Africa (EMEA) will be the second-largest VM market as a result of regulations such as General Data Protection Regulations (GDPR). Finally, the growing significance of cybersecurity among end-users and rapid digital transformation initiatives encourage organizations to embrace VM in APAC and Central and Latin America.
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"The COVID-19 pandemic and the resulting work-from-home economy have expanded organizations' attack surface. With organizations adjusting to a new mode of business operations, VM capabilities for emerging platforms and applications will gain traction," said Swetha R Krishnamoorthi, Senior Industry Analyst, Cybersecurity at Frost & Sullivan. "In addition, as businesses embrace network-attached endpoints, cloud-based applications, and connected devices, the need for managing vulnerabilities in the extended attack surface will surge."
Swetha added: "Organizations' move toward holistic and focused security will encourage vendors to integrate capabilities from upstream, downstream, and alternative applications. Over the next decade, there will also be a likely emergence of an 'integrated security posture assessment tool' that provides end-to-end risk management for enterprises."
Increased threats amid higher numbers of connected devices and regulatory requirements for organizations to perform regular vulnerability scanning and remediation will present lucrative growth prospects for VM vendors, including:
- Addressing end-to-end vulnerability management workflow through an integrated platform by having an extensive list of integrations that enable an organization to pull in data from different tools and trigger workflows on other platforms from a single pane of glass.
- Focusing on emerging economies and identifying local distribution partners and value-added resellers to boost expansion initiatives in emerging markets.
- Leveraging managed security service providers (MSSPs) as a revenue source to expand the customer base by developing a separate pricing model that works well for both MSSPs and customers, ensuring profitability.
- Expanding asset-type coverage to a non-conventional environment through strategic partnerships or inorganic deals with operational technology security vendors to hasten the acquisition of capabilities and achieve growth.
Global Vulnerability Management Market, Forecast to 2025 is the latest addition to Frost & Sullivan's Information & Communication Technology research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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