Global Patch and Remediation Software Market to Gain CAGR of 14.8% During 2023 – 2031; says Absolute Markets Insights
Patch & Remediation Software Market is Growing Owing to Rise in Demand For Real-Time Updates on the Latest Security Patches & Vulnerabilities to Protect Systems
HOUSTON, TEXAS, UNITED STATES, July 11, 2023/EINPresswire.com/ — Market Introduction
Patches earlier were thought of as just a software update that also occurred to address security flaws. Patch management tools were developed to make it easier for businesses to rapidly deliver these software “updates” throughout their entire infrastructure. The primary goal of these early systems was to update a large number of devices with the most recent software patches. The security landscape has changed since then. Patch deployments today are primarily intended to assist correct vulnerabilities, or to address security problems. Applying a configuration update is the security repair for certain vulnerabilities, while applying patches is the fix for others. In terms of revenue, the global patch and remediation software market was worth US$ 1.07 Bn in 2022 and is anticipated to grow at an estimated CAGR of 14.8% from 2023 – 2031.
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Global Patch and Remediation Software Market: Segmental Trends
Organizations today are constantly under high risk, with approximately hundreds of cyberattacks being reported on a weekly basis. Attackers often exploit known vulnerabilities in software because they provide an easy entry point into systems. Patching is an exhausting time-consuming operation, but it’s essential to safeguard modern IT settings, where more devices need to be managed than ever due to the trend of remote and hybrid work. By promptly patching vulnerabilities, organizations are looking forward to prevent potential exploits and protect their systems from being compromised. Patch and remediation software market participants are looking forward to introduce advanced features into their software for security. For instance, NinjaOne, a cutting-edge, cloud-native IT management platform for managed service providers (MSPs) and IT departments, announced updates to NinjaOne Patch Management in 2023, bringing the most up-to-date automated patching solutions to maintain business operations and keep organisations secure. With NinjaOne Patch Management, businesses can automate every stage of the patching process, spend 90% less time patching, and automatically patch any device from a centralised, user-friendly panel.
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The rise of cloud-based patch and remediation software has brought several benefits and advantages to organizations, as the software can be easily scalable based on the organization’s needs. It allows businesses to accommodate their growing infrastructure and adapt to changing requirements without the need for significant hardware or infrastructure investments. Organizations are additionally looking forward to easy deployments and avoid the time-consuming process of procuring and setting up hardware, installing software, and configuring infrastructure.
Global Patch and Remediation Software Market: Regional Trends
North America had the highest share in the patch and remediation software market in 2022. Particularly the United States, has been a leading market for patch and remediation software market due to the country’s strong focus on cybersecurity and compliance. The presence of large enterprises, stringent data protection regulations, and a high number of cyber incidents have driven the demand for robust patching and remediation solutions. The region also has a mature technology infrastructure, making it easier for organizations to adopt and integrate such software into their systems.
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Latin America has seen a growing awareness of cybersecurity and the need for effective patching and remediation practices. Countries like Brazil, Mexico, and Argentina are witnessing an increase in cyber incidents, leading organizations to invest in security solutions, including patch and remediation software. Small and medium-sized businesses (SMBs) in the region are also recognizing the importance of securing their IT infrastructure, contributing to boost the demand for patch and remediation software market in the years to come.
Global Patch and Remediation Software Market Share in 2022, By Region
Global Patch and Remediation Software Market Key Competitors
o Acronis International GmbH.
o BMC Software, Inc.
o Intigua Inc.
o ITarian
o Kaseya
o NinjaOne
o Open Text
o Progress Software Corporation
o Qualys, Inc.
o SolarWinds Worldwide, LLC
o SysAid
o Syxsense Inc.
o Vicarius
o Zoho Corporation Pvt. Ltd.
o Other Market Participants
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Global Patch and Remediation Software Market
By Offerings
o Solutions
o Services
By Organization Size
o Small and Medium Size Organizations
o Large Organizations
By Deployment
o Cloud Based
o On-premise
By End User Industry
o IT and Telecommunications
o Banking, Finance Services and Insurance
o Manufacturing
o Healthcare
o Retail and E-commerce
o Government
o Automotive
o Others
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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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