Patch Management Software Market to Experience USD 536.32 million Growth as per Technavio's Market Analysis

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Avast Plc, ConnectWise LLC, and International Business Machines Corp. Among Key Vendors in the patch management software market

Avast Plc, ConnectWise LLC, International Business Machines Corp., Jamf Software LLC, Micro Focus International Plc, Microsoft Corp., NortonLifeLock Inc., Progress Software Corp., SolarWinds Corp., and SysAid Technologies Ltd., among others, are some of the key vendors operating in the patch management software market. The offerings of some of these vendors are mentioned below:

• Avast Plc - The company offers patch management software that simplifies and automates the patching process to save time and money, under the brand name of Avast.
• ConnectWise LLC - The company offers patch management software that keeps the systems and software up to date can significantly reduce cybersecurity risk level, while optimizing endpoint system performance, under the brand name of CONNECTWISE.
• International Business Machines Corp. - The company offers patch management software that takes the complexity and time out of patching outdated systems, giving granular control over the patch management process, under the brand name of IBM.

North America to be the largest market of the patch management software market

North America will be the largest market during the forecast period, and it will account for 35% of the market's growth. The key countries in the region are expected to be the US and Canada. Moreover, the market growth rate in North America will be faster than the growth of the market in other regions.

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On-premises segment will generate highest revenue for the patch management software market

The on-premises segment will have significant market share growth during the forecast period. In-house IT staff manage on-premises systems and solutions, periodically upgrade software components, and install data protection mechanisms. The need for safeguarding sensitive data, such as company financials, accounting information, patent information, and vital monetary transactions, is the major driver of the demand for on-premises patch management software.

Growing demand for identifying vulnerable versions of software to drive patch management software

One of the key drivers supporting the patch management software market growth is the growing demand for identifying vulnerable versions of software. Enterprise IT software regularly needs software updates and patches to avoid cyberattacks. Vulnerable and outdated software raises the chances of cyberattacks, which can cause significant loss to confidential and sensitive data. Such attacks are driving the demand for patch management software.

Increasing use of mobile devices in workplaces to challenge patch management software market

Patch management software capabilities are limited to systems and devices connected to the company network. A remote user operating a mobile device outside office premises cannot be effectively monitored and managed by patch management software and solutions. However, companies allow employees to use the corporate network to connect to personal mobile devices for increased flexibility at the workplace. The inability of patch management software to monitor remote devices for the effective deployment of software patches renders such devices vulnerable to cyberattacks.

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