Patch Management Market

Patch Management Market Outlook (2024 to 2034)

Revenue from the global patch management market is estimated to reach US$ 950.5 million in 2024. The market has been analyzed to climb to a value of US$ 2.25 billion by the end of 2034, expanding at a CAGR of 9% between 2024 and 2034.

The process of obtaining, evaluating, and applying several patches (code modifications) to a computer system under administration is known as patch management. It improves functionality and addresses vulnerabilities, keeping software up-to-date and secure. The expanding regulatory demands for software updates, the challenge of managing updates in extensive and varied IT environments, and the surge in cybersecurity threats have all fueled the expansion of the patch management solutions market.

Key drivers of patch management market growth include the rising use of third-party applications and the increasing number of vulnerabilities due to this. Alongside escalating security threats, fears of hacking are also contributing to the growth of the market worldwide.

Key Market Growth Drivers

• Increasing regulatory requirements for software updates, the complexity of managing updates across extensive and diverse IT environments, and the rise in cybersecurity threats are all driving the growth of the market.
• Key players include providers of integrated IT management suites and stand-alone patch management software, such as IBM (BigFix), Microsoft (Windows Update), Ivanti (Patch Management), and SolarWinds (Patch Manager).
• Patch management market trends, such as automation for faster patch deployment, integration with IT asset management and vulnerability management tools, and the shift to cloud-based patch management solutions, are influencing the market.
• Growing demand for the latest software versions will emerge as one of the primary drivers for market growth.
• Increasing incidents of hacking and the emergence of new regulatory policies globally will also complement the growth of the market.
• Cloud-based patch management solutions are contributing to the rapid expansion of the patch management market size. As the cloud computing market expands, businesses are exploring various cloud models to find the optimal balance of functionality, scalability, and return on investment.

Report Attribute	Detail
Patch Management Market Size (2024E)	US$ 950.5 Million
Projected Market Value (2034F)	US$ 2.25 Million
Global Market Growth Rate (2024 to 2034)	9% CAGR
East Asia Market Growth Rate (2024 to 2034)	10.4% CAGR
North America Market Growth Rate (2024 to 2034)	8.1% CAGR
Software Segment Market Value (2024E)	US$ 646.6 Million
Cloud-Based Segment Value (2024E)	US$ 636.8 Million
Key Companies Profiled	IBM Corporation; Symantec (NortonLifeLock Inc.); Micro Focus; Qualys Inc.; SolarWinds Corporation; Ivanti; ManageEngine; ConnectWise; Avast; Automox; GFI Software; Chef Software; SysAid Technologies; Atera; Infinite Group, Inc.

Why is Demand for Patch Management Solutions Showing an Upward Trend?

“Market Benefiting from Automation across Sectors”

Growth of interconnected devices and IoT is driving increased demand for patch management solutions. Keeping systems up-to-date is becoming increasingly important to meet regulatory requirements due to new security and compliance standards and the adoption of digital technology by SMEs.

The market is seeing a significant shift toward automation across various industries. This aims to boost production, lower operating costs, and achieve optimal efficiency. Government initiatives and regulations focused on protecting sensitive data are expected to further propel the patch management market. The expansion of companies and rising investments are reinforcing these market trends.

• A 2019 CSO Australia report revealed that 60% of breaches were due to unpatched vulnerabilities. Veracode research indicates that over 55% of discovered breaches remain unresolved after three months. Data also shows that one in three breaches result from unpatched vulnerabilities and a lack of visibility into these issues. These factors are driving the growth of the patch management market.

“Need for Sophisticated Solutions to Handle Different Configurations and Technologies”

Modern IT infrastructures are increasingly complex, combining on-premises systems, cloud services, virtualized environments, and mobile devices. Patch management on these heterogeneous platforms necessitates advanced solutions capable of handling various configurations and technologies. Before deploying patches, organizations are thoroughly testing them to ensure they do not disrupt existing systems or introduce new problems. Deployment can be delayed and operational risks can increase due to incompatibilities between patches and current software or hardware configurations.

Country-wise Insights

Several developing countries are increasing their capital income as well as developing their IT sectors and data centers, creating a stimulus for the growth of the market in these regions. China is set to hold a significant share of the patch management market in East Asia. China is projected to expand at a CAGR of 10.1% to reach US$ 267.2 million by the end of 2034. Revenue from the Japan market is evaluated to rise at a CAGR of 10.6% through 2034.

How is the Adoption of New Technologies Influencing Market Growth in the United States?

“Focus on Reducing Vulnerabilities and Maintaining Optimal System Performance”

Attribute	United States
Market Value (2024E)	US$ 260.1 Million
Growth Rate (2024 to 2034)	7.8% CAGR
Projected Value (2034F)	US$ 551.3 Million

Patch management is now seen as a crucial element for maintaining IT services, especially given the rise in cybersecurity threats in the region. With the rapid adoption of the latest technologies, the United States holds a significant share of the patch management market. Cybercriminals find it easier to target organizations that neglect network security, highlighting the importance of robust patch management.

The IT sector has been efficiently supporting the development of various software applications, which boosts demand for patch management solutions. Technological innovation and the large number of data centers in the region further drive market growth. Additionally, the increasing demand for patch management services is stimulated by the growth of healthcare centers and the expansion of businesses.

High technology penetration and increasing IT deployments across various sectors and verticals in the United States are essential to the growth of the patch management software market.

How is Deployment of IoT Enhancing Market Growth Prospects in South Korea?

“High Threat of Cyber Threats Boosting Demand for Effective Patch Management”

Attribute	South Korea
Market Value (2024E)	US$ 46.4 Million
Growth Rate (2024 to 2034)	10.8% CAGR
Projected Value (2034F)	US$ 129.9 Million

Robotics and technological advancements in these regions are significantly influenced by the government in South Korea. The market for patch management systems is further boosted by growing technological innovation and the expansion of e-commerce industries. The growth of the telecommunications industry and the development of robotics and smart devices in these areas also contribute to market expansion.

The increasing presence of hackers globally is driving the demand for robust patch management solutions. The availability of educational and training services in these regions is expected to further support the growth of the patch management market.

Category-wise Insights

The market for patch management is categorized based on component, deployment, and vertical. In terms of vertical, it is further categorized into BFSI, information technology & telecom, healthcare, government & defense, retail and education. Based on deployment type, the market for patch management is divided into on-premises and cloud types. The on-premise segment is expected to hold a significant patch management market share.

Why is Software Crucial in Patch Management for Vulnerability Protection?

“Comprehensive Patch Management Platforms Streamlining IT Deployment and Scalability”

Attribute	Software
Segment Value (2024E)	US$ 646.3 Million
Growth Rate (2024 to 2034)	8.7% CAGR
Projected Value (2034F)	US$ 1.48 Billion

Patch management offers a wide array of solutions tailored to meet individual needs and preferences, including log aggregation, analysis, storage, and visualization tools. This variety enables businesses to choose solutions that best address their unique requirements, whether for security, compliance, operational insights, or a combination of these.

Many vendors provide comprehensive patch management platforms that integrate multiple features, such as reporting, correlation, parsing, and log collection, into a single solution. These platforms streamline deployment, management, and scalability for organizations by delivering end-to-end patch management capabilities. Leading patch management systems utilize advanced analytics techniques, like machine learning and anomaly detection, to automatically identify patterns, anomalies, and security risks in log data.

Why are More Organizations Opting for On-Premise Deployment of Patch Management Solutions?

“Focus on Maintaining Strict Control Over Platforms, Tools, and Sensitive Data”

Attribute	On-Premise
Segment Value (2024E)	US$ 313.7 Million
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 675 Million

Organizations using on-premise solutions manage their platforms, software, tools, and data internally, overseen by their own IT staff who often handle internal projects. Enterprises historically deployed traditional patch management solutions on-premises for centralized patching. Industries handling sensitive information, like user credentials, prefer on-premise deployment to maintain greater control over their IT systems. Sectors such as defense, government, banking, and financial services prioritize on-premise data security due to sensitive customer financial records, tax details, and account information involved.

On-premise systems are maintained and operated directly by companies and corporations on their premises, primarily managed by their internal IT departments. The company's in-house IT specialists regularly update and implement system components and data protection mechanisms. Protecting sensitive data, such as financial records, accounting data, and proprietary information, remains a primary driver for the demand for on-premise patch management solutions.

Competitive Landscape

Key players in the patch management industry are increasing their R&D spending to launch new products. Furthermore, acquisitions & mergers, collaborations, and regulatory approvals are also crucial components of effective growth.

• In June 2024, Infinite Group, Inc. (IGI)-Nodeware, launched the latest feature, Patch Management: A patented vulnerability management solution powered by artificial intelligence, which is available for Windows users. This robust platform enhancement allows managed service providers (MSPs) to have more visibility and control over patch rollouts for their clients' Windows systems by enabling centralized patch deployment straight from the dashboard.
• Atera secured US$ 77 million in venture capital in July 2021, with a US$ 500 million valuation. The company offers SMBs business-level assistance in managing their remote networks. With the help of this funding, Atera hopes to expand its clientele and improve its offering in particular by giving its artificial intelligence (AI) more features. Atera presently employs predictive analytics, a feature absent from many SMB software solutions but present in solutions targeted at larger corporations.

Fact.MR provides detailed information about the price points of leading providers of patch management solutions positioned across the world, sales growth, production capacity, and technological advancements, in this recently updated market report.

Segmentation of Patch Management Market Research

• By Component :

  • Software
  • Services

• By Deployment :

  • Cloud
  • On-Premise

• By Vertical :

  • BFSI
  • Information Technology & Telecom
  • Healthcare
  • Government & Defense
  • Retail
  • Education

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Latin America
  • Middle East & Africa