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The global risk-based vulnerability management systems market was valued at USD 6 billion in 2023 and grew at a CAGR of 10% from 2024 to 2033. The market is expected to reach USD 15.56 billion by 2033. The global digital transformation will drive the growth of the global risk-based vulnerability management systems market.
Risk-based vulnerability management solutions aim to strengthen an organization's security position by managing vulnerabilities. These systems begin by utilising standard procedures such as vulnerability scans and threat feeds to identify potential vulnerabilities in the hardware, software, and network infrastructure. After these threats are assessed, general susceptibility is ascertained and these are followed by preventive and defensive measures to shore up security. A risk-based approach ranks threats according to their level of danger which facilitates resource optimization for organizations. It also uses mitigation strategies include developing ways to address issues that cannot be resolved right away in addition to using patches or updates to address issues that can be fixed temporarily. The system provides reports on vulnerabilities and risks by maintaining track of the repair actions that have been completed. constant scans and updates are carried out to incorporate new vulnerabilities synchronously and enhance the risk assessment. The work with vulnerabilities is made more efficient by options like automation and compatibility with other security solutions.
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The increasing incidence of cyber-attacks – the increasing incidence and frequency of cyber-attacks along with the ever-evolving nature of these attacks has increased the need for proactive risk assessment and management. Risk-based systems respond to this challenge by sorting risk factors in terms of their threat sensitivity and likelihood in order to assist organizations in targeting risks more effectively. the growth of IT structure and facilities such as cloud computing, mobile gadgets, and IoT has led to a situation wherein the traditional approaches to threat assessments and management fail to operate effectively. The new systems overcome the shortcomings of these traditional approaches. Lastly, the dynamic aspect of threat intelligence is important to an organization’s security. New threats and techniques are given by the real-time threat intelligence feeds in order to enhance the awareness of the new threats existing on the web. Risk-based systems apply this intelligence for keeping their risk assessment as well as prioritization up-to-date. Therefore, the increasing incidence of cyber-attacks will drive the demand for risk-based vulnerability management systems.
High costs of risk-based vulnerability systems – A risk-based vulnerability management system is expensive and it reflects the cost of software licenses, hardware, professional services for implementing vulnerability management systems. In most of the cases, these expenses prove unaffordable, especially for smaller institutions, companies, or organizations. Aside from acquisition costs, additional costs such as updating and maintaining these systems also increases the costs. One also needs to employ competent personnel to operate these systems which further adds to the costs. therefore, the high costs of risk-based vulnerability systems will hamper the market’s growth.
Stringent regulatory requirements – Legal requirements and data protection measures are the main reasons why many organizations are now turning to the risk based vulnerable management systems. Organizations are pulled into stricter compliance requirements such as GDPR, HIPAA and PCI-DSS and thus require better security measures to avoid non-compliance. These regulations require that organizations scan for vulnerabilities and assess risks, failing which organizations face severe penalties and legal issues. Meeting these requirements is made easier through the use of risk-based systems. In addition, data protection regulations stress the importance of protection of personal and financial information against loss or breaches. Risk-based vulnerability systems also facilitate the generation of compliance reports and audits through generating detailed reports that indicate the policies and various standards being followed. They also assist with incident and breach handling, as they find out weaknesses that may result in data breaches, so that organizations can apply adequate measures to contain such threats. risk-based vulnerability management systems are indispensable in responding to the regulatory obligations and safeguarding data which will contribute to the market’s growth during the forecast period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America as the most significant global risk-based vulnerability management systems market, with a 37% market revenue share in 2023.
The regulations in the region make it mandatory to have efficient vulnerability management processes for safeguarding important data which contributes to the region’s growing dominance in the market. North American is known to be a leading region when it comes to pioneering technologies hence providing support to the development and implementation of advanced security systems. This technological leadership facilitates not just the development but also the use of highly elaborate systems of risk-based vulnerability management, further augmenting the market. North America also has significant investments in cybersecurity infrastructure and access to resources which contributes to the market’s growth. There are also a lot of cybersecurity providers located in the region which improves access to the most advanced risk-based vulnerability management systems. These vendors help to facilitate market development and advances.
North America Region Risk-Based Vulnerability Management Systems Market Share in 2023 - 37%
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The component segment is divided into solution and services. The solutions segment dominated the market, with a market share of around 54% in 2023. Solutions in risk-based vulnerability management systems are software platforms or tools among others. They offer multiple features which comprise vulnerability assessment and management, risk assessment, and risk prioritization. Multiple features facilitate efficiency, flexibility, reliability and versatility. They are also scalability depending on the organization’s needs and preferences. These functionalities make them easy to apply to both and small business and large companies. These solutions are a cost-effective long-term investment. They also receive frequent updates keeping them relevant in combating new threats without significant upfront costs or infrastructural needs. They are also equipped with the most sophisticated analytical and machine learning features that can improve assessments and proactive measures.
The organization segment is divided into SMEs and large enterprises. The large enterprises segment dominated the market, with a market share of around 51% in 2023. large enterprises are exposed to severe cyber threats and are commonly regulated by strict norms. Risk-based systems assist them in establishing the potential loopholes or openings that would make them prone to attacks, breaches or any form of disruption, besides assisting them in compliance reporting and compliance audit trails. Risk based vulnerability management systems require sizable capital investment and trained personnel. large enterprises can afford these given their large cash flows. It is important for large organizations to safeguard their important assets, and to guarantee their business continues during difficult times. Risk-based systems are beneficial in countering security threats which are likely to disrupt business operations or income.
The deployment model segment is divided into cloud and on-premises. The cloud segment dominated the market, with a market share of around 58% in 2023. cloud solutions enable the change of capacity and resources in an organization to meet new needs without changing the infrastructure highly which highlights its scalability and flexibility. Cloud solution is usually availed through service subscription hence cancelling out most of the capital expenses. Cloud providers manage infrastructure and software upgrades making operating costs even smaller. Other benefits are ease of deployment and management which refer to the ease of managing the software and deploying it in an organization. The cloud solutions can be established faster than most on-premises systems as they do not take time to be configured. Automatic Updates and Maintenance keeps the system updated with the latest security patches and threat intelligence without the need of a further input from the organisation.
The end-user segment is divided into healthcare, BFSI, government, retail, energy and utilities, telecommunications, manufacturing, technology, education, transportation and logistics, and others. The BFSI segment dominated the market, with a market share of around 38% in 2023. Banks as some of the financial institutions that are potential targets for cybercriminals because they work with money and personal information. Managing vulnerability is critical in order to prevent breaches and frauds and so on. Furthermore, the sector has a lot of regulatory rules which call for detailed reporting and compliance proof from risk-based systems. Violations pertaining to security can lead to significant impact on operational functionality, revenues, and brand image of a financial firm which highlights the importance of risk-based vulnerability management systems in the BFSI sector. Therefore, it can be concluded that the financial services sector uses the risk-based vulnerability management systems to the greatest extent because of the increased risk level and the pressure from regulators, data sensitivity, and significant investment in cybersecurity.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 6 Billion |
| Market size value in 2033 | USD 15.56 Billion |
| CAGR (2024 to 2033) | 10% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Component, Organization, Deployment Model, and End User |
As per The Brainy Insights, the size of the global risk-based vulnerability management systems market was valued at USD 6 billion in 2023 to USD 15.56 billion by 2033.
Global risk-based vulnerability management systems market is growing at a CAGR of 10% during the forecast period 2024-2033.
The market's growth will be influenced by the increasing incidence of cyber-attacks.
High costs of risk-based vulnerability systems could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global risk-based vulnerability management systems market based on below mentioned segments:
Global Risk-Based Vulnerability Management Systems Market by Component:
Global Risk-Based Vulnerability Management Systems Market by Organization:
Global Risk-Based Vulnerability Management Systems Market by Deployment Model:
Global Risk-Based Vulnerability Management Systems Market by End-User:
Global Risk-Based Vulnerability Management Systems Market by Region:
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