Patch Management Global Market Report 2024

Description

Patch management involves the systematic process of acquiring, testing, and deploying updates or patches to software applications, operating systems, and other digital assets within an organization's IT infrastructure. Patches are released by vendors to address security vulnerabilities, bugs, or performance issues, or to introduce new features. The primary aim of patch management is to address security vulnerabilities, software bugs, and performance issues identified in software products.

Key components of patch management include software and services. Software comprises programs and applications designed for specific tasks on a computer or electronic device, deployable on-premises or in the cloud, catering to organizations of various sizes such as small and medium-sized enterprises and large enterprises. It spans across verticals including banking, financial services, and insurance, information technology (IT) and telecommunications, healthcare, government and defense, retail, education, and others.

The patch management market research report is one of a series of new reports from The Business Research Company that provides patch management market statistics, including patch management industry global market size, regional shares, competitors with a patch management market share, detailed patch management market segments, market trends and opportunities, and any further data you may need to thrive in the patch management industry. This patch management market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The patch management market size has grown rapidly in recent years. It will grow from $0.75 billion in 2023 to $0.86 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historic period can be attributed to several factors, including a growing emphasis on software security, increased integration with vulnerability management systems, rising adoption of cloud services, and the growing importance of prioritizing patches to address security vulnerabilities and enhance system reliability.

The patch management market size is expected to see rapid growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. Forecasted growth in the upcoming period is driven by several factors, including the expansion of remote workforces, increasing complexity of IT environments, integration with security orchestration platforms, and the demand for hybrid deployment models to accommodate diverse infrastructures. Major trends expected in the forecast period include a focus on IoT device security, the adoption of predictive analytics for proactive threat detection, enhancements in supply chain security, efforts to ensure regulatory compliance, and the implementation of zero-trust security models to mitigate risks effectively.

The patch management market is poised for significant growth, driven by the increasing frequency of cyber threats that pose risks to digital assets and information systems. Cyber threats, characterized by malicious activities or incidents targeting the confidentiality or availability of digital assets, are on the rise due to global connectivity and insufficient awareness about cybersecurity risks among individuals and organizations. Patch management plays a crucial role in mitigating cyber risks by promptly addressing software vulnerabilities, thereby preventing exploitation by attackers and enhancing overall cybersecurity resilience. For instance, in Australia, the Australian Cyber Security Centre reported over 76,000 cybercrime reports in the financial year 2021-22, representing a nearly 13% increase compared to the previous fiscal year. This upward trend underscores the urgent need for effective patch management solutions to safeguard against cyber threats.

Key players in the patch management market are focusing on developing innovative technologies tailored to address the evolving cybersecurity needs of organizations, particularly in industrial automation environments. One such innovation is patch management technology for distributed control systems (DCS), which involves the systematic process of identifying and deploying software patches and updates to secure and optimize the performance of DCS systems. For example, Emerson Electric Co., a US-based manufacturing company, launched an integrated patch management system designed to enhance cybersecurity on DeltaV distributed control systems (DCS) by managing patches from Windows and McAfee. This system enables administrators to quickly identify systems with pending updates, view relevant system impact information, and install patches individually or across multiple machines, thereby streamlining the patching process, reducing downtime costs, and enhancing overall cybersecurity posture.

In August 2021, Ivanti Inc., a US-based information technology and software solutions provider, acquired RiskSense, Inc. This acquisition aimed to bolster Ivanti's patch management capabilities by integrating RiskSense's expertise in risk-based vulnerability management. By providing organizations with a holistic view of vulnerabilities, Ivanti seeks to enhance its ability to prioritize and address security threats effectively, thereby strengthening its position in the patch management market and meeting the growing demand for comprehensive cybersecurity solutions.

Major companies operating in the patch management market are Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems, Broadcom Inc, VMware Inc, Gartner, Open Text Corporation, Micro Focus, BMC Software, Avast Software, SolarWinds Corporation, Progress Software Corporation, Ivanti, Freshworks Inc, Qualys Inc, ConnectWise Inc, Flexera, Kaseya Limited, HEAT Software, Automox Inc, GFI Software Ltd, Heimdal Security, SysAid Technologies Ltd, SecPod Technologies

North America was the largest region in the patch management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patch management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the patch management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The patch management market includes revenues earned by entities by providing services such as patch identification, managed security services, and consulting and professional services. The market value includes the value of related goods sold by the service provider or included within the service offering. The patch management market consists of sales of products including network devices, storage devices, patch deployment tools, and security appliances. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Component: Software; Service
2) By Deployment: On-Premises; Cloud
3) By Enterprise Size: Small And Medium-Sized Enterprises; Large Enterprises
4) By Vertical: Banking, Financial Services, And Insurance; Information Technology (IT) And Telecom; Healthcare; Government And Defense; Retail; Education
Covering: Microsoft Corporation; Dell Technologies Inc.; International Business Machines Corporation; Cisco Systems; Broadcom Inc.

Product Code: r17411

1. Executive Summary

2. Patch Management Market Characteristics

3. Patch Management Market Trends And Strategies

4. Patch Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Patch Management Market Size and Growth

5.1. Global Patch Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Patch Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Patch Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Patch Management Market Segmentation

6.1. Global Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Service
6.2. Global Patch Management Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premises
Cloud
6.3. Global Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small And Medium-Sized Enterprises
Large Enterprises
6.4. Global Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services, And Insurance
Information Technology (It) And Telecom
Healthcare
Government And Defense
Retail
Education
Other Verticals

7. Patch Management Market Regional And Country Analysis

7.1. Global Patch Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Patch Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Patch Management Market

8.1. Asia-Pacific Patch Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Patch Management Market

9.1. China Patch Management Market Overview
9.2. China Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Patch Management Market

10.1. India Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Patch Management Market

11.1. Japan Patch Management Market Overview
11.2. Japan Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Patch Management Market

12.1. Australia Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Patch Management Market

13.1. Indonesia Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Patch Management Market

14.1. South Korea Patch Management Market Overview
14.2. South Korea Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Patch Management Market

15.1. Western Europe Patch Management Market Overview
15.2. Western Europe Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Patch Management Market

16.1. UK Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Patch Management Market

17.1. Germany Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Patch Management Market

18.1. France Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Patch Management Market

19.1. Italy Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Patch Management Market

20.1. Spain Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Patch Management Market

21.1. Eastern Europe Patch Management Market Overview
21.2. Eastern Europe Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Patch Management Market

22.1. Russia Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Patch Management Market

23.1. North America Patch Management Market Overview
23.2. North America Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Patch Management Market

24.1. USA Patch Management Market Overview
24.2. USA Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Patch Management Market

25.1. Canada Patch Management Market Overview
25.2. Canada Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Patch Management Market

26.1. South America Patch Management Market Overview
26.2. South America Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Patch Management Market

27.1. Brazil Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Patch Management Market

28.1. Middle East Patch Management Market Overview
28.2. Middle East Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Patch Management Market

29.1. Africa Patch Management Market Overview
29.2. Africa Patch Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Patch Management Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Patch Management Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Patch Management Market Competitive Landscape And Company Profiles

30.1. Patch Management Market Competitive Landscape
30.2. Patch Management Market Company Profiles
- 30.2.1. Microsoft Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Dell Technologies Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. International Business Machines Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Cisco Systems
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Broadcom Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Patch Management Market Other Major And Innovative Companies

31.1. VMware Inc
31.2. Gartner
31.3. Open Text Corporation
31.4. Micro Focus
31.5. BMC Software
31.6. Avast Software
31.7. SolarWinds Corporation
31.8. Progress Software Corporation
31.9. Ivanti
31.10. Freshworks Inc
31.11. Qualys Inc
31.12. ConnectWise Inc
31.13. Flexera
31.14. Kaseya Limited
31.15. HEAT Software

32. Global Patch Management Market Competitive Benchmarking

33. Global Patch Management Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Patch Management Market

35. Patch Management Market Future Outlook and Potential Analysis

35.1 Patch Management Market In 2028 - Countries Offering Most New Opportunities
35.2 Patch Management Market In 2028 - Segments Offering Most New Opportunities
35.3 Patch Management Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer