The global market for patch management is booming worldwide. In fact, Technavio has estimated that the market is set to grow by USD 336.03 million from 2019 to 2023. This is with a CAGR of over 10% during this period. Keeping in mind the current global scenario, it is no wonder that effective products and services will form the basis of the global market.
There are a number of factors that play a role in key market insights. The most important among them include emerging players, competitive landscape, sales and revenue, global market shares of manufacturers and the giants of the game.
What is Patch Management?
Patch management software helps to scan devices on a network and identify missing software updates, commonly called as patches. It can also help to fix these problems by deploying these updates immediately when they are released.
Patches are nothing but code that has to be inserted at a particular location in the software’s existing code, and patch management software recognizes the tools that require these patches. They then fix the changes. Installing the software on a central administrative device can ensure that the changes are deployed across all devices. This is particularly useful for large organizations or offices.
What are the Market Drivers for Patch Management?
With an emerging need to ensure the adequate functionality of IT assets and automated patch management software processes, patch management has become very easy and direct. The main market drivers leading to it being a booming industry are
- The need to protect your organization and customers from increasingly frequent cyber-attacks that make use of vulnerabilities in software.
- Industry specific regulatory standards that ensure the safety of your organization’s network architecture
- The increase in cloud-based solutions and mobile workforce that needs to be kept safe.
- Geographic expansion of companies in emerging markets will lead to widespread implementation of cloud-based solutions which offer more opportunity. In addition, regions like APAC and MEA also bring a horde of possibilities.
The market is segmented into on premise and cloud based. By application, patch management can be divided into individual, enterprise and others. Supplying tailored solutions for each of these types is key to ensuring that patching solutions are hassle free and easy to follow. The future of patch management is bright. Market leaders have been trying to come up with ways to prevent the need for manual intervention as well.
The Future of Patch Management
The major vendors are IBM, Microsoft, Symantec, Micro Focus and Qualys among others. Europe is projected to grow the most, according to Market Research Intellect’s “Global Patch Management Software Market Report”.
In order to stay attuned to the future of Patch management software, one has to embrace concepts like automated patching.
Organizations like JetPatch offer benefits that are in line with this vision, like
- Intelligent predictions that avoid human error and downtime
- Automated patching across your ecosystem to minimize patch time
- Single dashboard view of the most urgent vulnerabilities that facilitate quick action.
- A modern patch management solution that is designed exclusively for your complex environment.
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