Device Vulnerability Management Market

Device Vulnerability Management Market – Overview

The global device vulnerability management market is anticipated to expand at a promising rate from 2021 to 2031 (forecast period). The increasing frequency of data breaches and cyberattacks has become a cause of great concern for enterprises all around the world. The unavailability of a proper solution or vulnerability management can have disastrous implications. As a result, enterprises are increasingly turning to vulnerability management solutions to safeguard their devices, networks, and infrastructure.

Device vulnerability management is a procedure that safeguards sensitive or personal information by removing offensive bugs from software applications. It is a collection of tools used to identify, categorize, and mitigate defects. To secure stored data from malicious assaults, tablets, desktops, phones, laptops, servers, and personal devices require vulnerability management systems. Growing organizational concerns about device and data security are projected to drive the global device vulnerability management market. Moreover, several corporations have begun to use cloud-based data storage and transmission systems to protect their company.

Device Vulnerability Management Market – Competitive Landscape

Prominent players in the global device vulnerability management market include EMC Corporation, Hewlett-Packard, Intel Security (McAfee), NetIQ, IBM Corporation, GFI Software, Symantec Corporation, Rapid7, Qualys Inc., and Tripwire Inc.

Market vendors are spending on R&D projects to provide technologically sophisticated products. The global device vulnerability management market is expected to experience several significant mergers and acquisitions in the near future to consolidate separate services and give sophisticated solution sets to a growing customer base, particularly in developing regions. Moreover, companies are actively seeking market share and diversifying their product portfolios in order to fulfill rising demand.

Device Vulnerability Management Market – Trends and Opportunities

The global device vulnerability management market is expected to rise rapidly during the projected period, owing to an increase in cybercrime around the world. Increased government backing for data security and privacy is expected to contribute to market growth over the forecast period.

Several organizations are embracing cloud-based solutions for data storage and transmission, which is expected to contribute to the device vulnerability management market. Government entities around the world are investing extensively in data security and privacy efforts, which are projected to drive demand in the coming years. As cloud computing has grown in popularity, devices have become exposed to malicious assaults. Such significant expansion in cloud computing is expected to benefit the global device vulnerability management market over the forecast period.

Moreover, BFSI (banking, financial services, and insurance), energy & utilities, retail, IT & telecom, government agencies, healthcare, and defense are the major end-use industries. Furthermore, servers, phones, laptops, personal devices, desktops, and tablets are among the devices that require vulnerability management. The recent exponential development in these device applications and large production to fulfill demand is expected to open up various opportunities for the device vulnerability management market during the forecast period.

Device Vulnerability Management Market – Regional Landscape

The North America device vulnerability management market is projected to expand due to the high need for secured devices among businesses. The growing use of mobile devices, combined with increased broadband internet penetration, is expected to fuel market growth across the area. Trends such as BYOD and remote workforce are prompting enterprises to use vulnerability management solutions in order to protect critical information. Significant expenditures in data and device security are projected to fuel market expansion across North America. Furthermore, government attempts to improve information security are estimated to bolster the device vulnerability management market.

The device vulnerability management market in Europe is anticipated to experience considerable growth during the forecast period. The primary factors projected to drive the regional market growth are the government's restrictions on data privacy and security.

The Asia Pacific device vulnerability management market is expected to develop due to the rising adoption of mobile devices such as smartphones, laptops, and tablets. Moreover, the growing popularity of cloud computing technology is projected to boost the market growth. Furthermore, rising investments in cybersecurity solutions are anticipated to propel the device vulnerability management market during the forecast period.