Global Patch and Remediation Software Market to Reach US$736 Million by 2018, According to a New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on the Patch and Remediation Software market. The global market for Patch and Remediation Software is forecast to reach US$736 million by the year 2018. Major factors driving growth in the Patch and Remediation Software market include continuing emergence of vulnerabilities each year, increasing sophistication of exploits, Government regulations mandating security policies for companies in certain industries, emerging use of automation solutions, and high profile and successful attacks in the past.

Patch and Remediation Software: A Global Strategic Business Report

Follow us on LinkedIn – Speed, security, and accuracy in receiving, storing, and sending information are key requirements for success in business today. In case, information systems become compromised or fail owing to a security breach, the loss in money, reputation, and time could prove disastrous. The overwhelming interaction and collaboration of confidential and personal information through web applications aggravates the threat to security from information leakage. Additionally, increase in identification of vulnerabilities by hackers who write codes to exploit such vulnerabilities results in a need to have an effective patch application procedure for safeguarding the Information Technology (IT) network. Subsequently, organizations are proactively seeking solutions for mitigating risks; managing, establishing as well as auditing security policy; consolidating risk management information; and ultimately offering some security from software vulnerabilities. The increase in the number of different viruses resulted in a similar increase in the number of patches for addressing the vulnerabilities that are exploited by such viruses.

New and more complex threats have been emerging over the years. Major forms of breaching security include utilization of weaknesses that exist in operating systems and applications; unauthorized access to networks and systems in an enterprise; identity fraud; and purloining and sabotage by insiders. Approaches to these crimes is fast evolving in terms of sophistication, pressing the need for being up-to-date with security measures. The time taken between the discovery of a vulnerability and launch of exploits continues to shrink, which poses a tremendous challenge to corporations to circumvent such issues before an exploitation takes place. Also, more than 90% of attacks are carried out on security flaws already known, making it more meaningful for corporations to deploy existing security patches. Security patches remain the foremost method of fixing software security vulnerabilities. Leading software vendors launch security patches soon after a vulnerability is detected and disclosed.

The year 2009 was a lackluster year for products used in security and vulnerability management, as a result of the global economic downturn that surfaced in late 2008. The affect of the recession was reflected in the slowdown in revenue growth witnessed during the year 2009. Spending did not topple completely as organizations continued their spending on security solutions as a means to address increasing threats to security and to meet regulatory requirements. Slowdown was apparent even in the patch software market during the period. Patch management products are widely used in various end-use sectors that depend primarily on IT for data and information management. Top of the list is the financial sector. As it deals with sensitive transactions and data, the financial end-use market has been an early adopter of security technologies. Growth in this sector over the years has been amply supported by various regulations. Similar to the finance sector, growth in demand for patch management products in the government sector is being driven by certain regulations. Meanwhile, the healthcare sector is expected to emerge as one of the fastest growing sectors in the adoption of patch management products.

Thousands of vulnerabilities to software are being reported by leading software vendors each year. As a result, the job of eliminating all such threats at the end-user system level becomes enormously difficult. Deployment of these numerous patches consumes substantial time and resources. Consequently, continuing innovations in security software and automation of patch deployment become crucial for organizations to tackle this menace. Despite the relative ease that it provides to the IT department in terms of searching for new updates or patches and deploying the same, not all corporations embrace full automation of patch management. Several organizations employ applications that may not have been tested by a patch maker. This makes it necessary for IT team in any organization to test these patches extensively in order to eliminate chances of unanticipated dysfunctions of any of its systems or applications. Besides, every operating environment is different which makes it difficult for a standard automated solution to cater to individual needs, and hence many engineers do not trust in the benefits of automation. In such cases, the IT team in an organization may intend to step into the process of assessment and remediation process and make explicit decisions before further automation is allowed. Such a process can be termed as controlled automation, which may emerge as a more dependable solution in the years ahead.

The US represents the largest regional market worldwide, as stated by the new market research report on Patch and Remediation Software. However, growth in the global Patch and Remediation Software market is projected to be driven by the Asia-Pacific market, which is projected to post a compounded annual growth of 7.1% during the analysis period.

Major players profiled in the report include CA Technologies, Inc., EMC Corporation, International Business Machines Corp., LANDesk Software, Inc., LogMeIn, Inc., Lumension Security, Inc., McAfee, Inc., Microsoft Corporation, Numara Software, Inc., Shavlik Technologies, LLC., among others.

The research report titled “Patch and Remediation Software: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides comprehensive market overview, trends & issues, impact of recession on the industry, latest statistics on vulnerabilities and security bulletins, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for the years 2010 through 2018, for major geographic markets, such as US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Market analytics are provided in terms of US$ Million. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Patch_and_Remediation_Software_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website