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Global Demand for Patch Management Is Expected To Reach US$ 2 Billion in Valuation by 2032

01-20-2023 06:48 AM CET | IT, New Media & Software

Press release from: fact.mr

Patch Management

Patch Management

The global demand for patch management is expected to generate highly lucrative gains over the next decade, expected to grow at a CAGR of 9.4%, which will benefit from long-term technological advances and application developments.

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As of 2032, the market is expected to reach US$ 2 Billion, while in 2022, a valuation of US$ 800 Million has been predicted. From 2021-2022, a Y-o-Y expansion rate of nearly 11%, growing from US$ 722 Million in 2021.

Competitive Landscape

An increase in product functionality is a key reason behind the increasing demand for patch managements. Therefore, market players are increasing their R&D spending in order to launch new products in the market. Furthermore, both acquisitions & mergers, collaborations, and regulatory approvals are also crucial components of effective growth.

• In July 2021, Atera raised $77 million in venture funding at a valuation of $500 million. The company helps SMBs manage their remote networks like businesses. With this funding, Atera plans to grow its customer base as well as enhance its product specifically, by adding more features to the artificial intelligence (AI). Atera currently uses to run predictive analytics, which is one of the technologies found in solutions aimed at large enterprises but missing from many SMB software solutions.

• Private equity firm TA Associates (TA) has invested in PDQ.com (PDQ), a provider of data asset management software for small and mid-sized businesses. A joint venture between TA and PDQ's founders and management team is designed to accelerate PDQ's growth through the expansion of its scalable portfolio of easy-to-use IT asset management and scanning products. With this partnership, the company can offer added value to global partners.

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Key Companies Profiled:

• BM Corporation
• Symantec (NortonLifeLock Inc.)
• Micro Focus
• Qualys Inc.
• SolarWinds Corporation
• Ivanti
• ManageEngine
• ConnectWise
• Avast
• Automox

"Rising In Global Demand For Patch Management "

The demand for patch management is rising globally as organizations become increasingly aware of the need to protect their networks and systems from cyber threats. Patch management is a process that involves regularly updating software and hardware with the latest security patches to protect against vulnerabilities. It is an important part of any organization's security strategy, as it helps to ensure that all systems are up-to-date and secure. Organizations are increasingly recognizing the importance of patch management in order to protect their networks and systems from cyber threats.

As a result, they are investing more resources into patch management solutions and services. This includes hiring dedicated personnel to manage patching processes, as well as investing in automated patching solutions. The rise in global demand for patch management is also being driven by the increasing complexity of IT environments. As organizations move to cloud-based solutions, they need to ensure that their systems are regularly updated with the latest security patches. This is especially true for organizations that use multiple cloud providers, as they need to ensure that all of their systems are up-to-date with the latest security patches. Finally, the rise in global demand for patch management is also being driven by the increasing number of cyber threats.

As cyber criminals become more sophisticated, organizations need to ensure that their systems are regularly updated with the latest security patches in order to protect against these threats. Overall, the demand for patch management is rising globally as organizations become increasingly aware of the need to protect their networks and systems from cyber threats. Organizations are investing more resources into patch management solutions and services, as well as hiring dedicated personnel to manage patching processes. Additionally, the increasing complexity of IT environments and the increasing number of cyber threats are also driving the demand for patch management solutions.

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Key Segments:

• by Component :

o Patch Management Software
o Patch Management Services

 Support and Integration Services
 Training and Education Services
 Consulting Services

• by Deployment :

o On-premises
o Cloud

• by Vertical :

o BFSI
o Information Technology (IT) and Telecom
o Healthcare
o Government and Defense
o Retail
o Education
o Other Verticals

• by Region :

o North America
o Latin America
o Europe
o Asia Pacific
o Middle East & Africa
o Latin America

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

Explore Fact.MR's More Insights on the Technology Domain

Digital Transformation Market: https://www.newswire.co.kr/newsRead.php?no=945969

Digital Experience Platform Market: https://www.newswire.co.kr/newsRead.php?no=945909

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