The security and vulnerability management market was valued at US$ 13.76 billion in 2022 and is projected to grow to US$ 22.88 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030.

The growth of the security and vulnerability management sector is largely influenced by the increasing necessity for businesses to adhere to regulatory requirements, such as the General Data Protection Regulation (GDPR) and various other domestic and international industry-specific laws. Organizations are facing mounting pressure to comply with stringent security regulations, which has escalated the demand for comprehensive solutions that not only manage vulnerabilities but also ensure compliance and mitigate risks. A notable example of this trend occurred in July 2023, when the Securities and Exchange Commission (SEC) introduced changes to Forms 8-K and 10-K. The revised Form 8-K mandates that registrants promptly disclose significant "cybersecurity incidents." Companies that experience cyberattacks are now required to report these incidents on Form 8-K within four days of becoming aware of them. Additionally, 10-K filings must include an annual overview of cybersecurity risk management practices.

In terms of deployment, the security and vulnerability management market is categorized into on-premise and cloud solutions. The cloud segment is expected to capture a substantial share of the market by 2030 and is projected to exhibit the highest CAGR in the upcoming years. Cloud platforms are crucial for organizations in managing their information and data securely. Businesses are increasingly investing in cloud technologies to enhance operational efficiency and protect data from cyber threats and breaches. According to estimates from Infosys Limited, 67% of companies were likely to increase their cloud expenditures in 2023, with 80% planning to boost their cloud investments to better safeguard customer data from theft. The advantages of cloud-based security and vulnerability management solutions, including flexibility, scalability, and remote access, are anticipated to drive the growth of this segment during the forecast period. Consequently, the rising demand for cloud-based solutions is expected to significantly influence the security and vulnerability management market trends in the coming years.

The North American security and vulnerability management market is anticipated to grow at a significant CAGR during the forecast period, driven by increased investments in advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics tools. The rising demand for AI-driven solutions among consumers is propelling market growth in this region. Furthermore, government initiatives aimed at promoting the adoption of AI technologies are likely to create substantial opportunities for market expansion in the near future. For instance, in October 2023, President Joe Biden signed an Executive Order to promote the safe and responsible use of AI. Such initiatives support organizations in integrating AI into their security and vulnerability management solutions. AI-enabled technologies enhance threat detection, automate responses, and improve the overall cybersecurity posture of businesses, thereby increasing the demand for security and vulnerability management services. The widespread adoption of advanced technologies like AI, ML, and data analytics is a key driver for the growth of the security and vulnerability management market in North America.

The analysis of the security and vulnerability management market involves identifying and assessing key players across various regions. Major companies in this sector include Microsoft Corp, International Business Machines Corp, Hewlett Packard Enterprise Development LP, Qualys Inc, Tenable Holdings Inc, Rapid7, CrowdStrike Holdings Inc, Fortra, LLC, Skybox Security, Inc, and Cisco Systems Inc. These organizations, along with several others, have been profiled to provide a comprehensive view of the market and its ecosystem. The market forecast can assist stakeholders in devising effective growth strategies. A thorough examination of additional players in the security and vulnerability management market has also been conducted to ensure a well-rounded understanding of the market landscape.

The overall size of the security and vulnerability management market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast of market growth across all segments. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the findings and gain deeper analytical insights. Participants included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the security and vulnerability management sector.