Patch Management Market Outlook (2022-2032)

The global patch management is expected to generate highly lucrative gains over the next decade, expected to grow at a CAGR of 9.4%, which will benefit from long-term technological advances and application developments.

As of 2032, the market is expected to reach US$ 2 Billion, while in 2022, a valuation of US$ 800 Million has been predicted. From 2021-2022, a Y-o-Y expansion rate of nearly 11%, growing from US$ 722 Million in 2021.

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Key Market Segments Covered in Patch Management Market

• Patch Management Market by Component :

  • Patch Management Software Market
  • Patch Management Services Market
    • Patch Management Support and Integration Services Market
    • Patch Management Training and Education Services Market
    • Patch Management Consulting Services Market

• Patch Management Market by Deployment :

  • Patch Management On-premises Market
  • Patch Management Cloud Market

• Patch Management Market by Vertical :

  • Patch Management for BFSI
  • Patch Management for Information Technology (IT) and Telecom
  • Patch Management for Healthcare
  • Patch Management for Government and Defense
  • Patch Management for Retail
  • Patch Management for Education
  • Patch Management for Other Verticals

• Patch Management Market by Region :

  • North America Patch Management Market
  • Latin America Patch Management Market
  • Europe Patch Management Market
  • Asia Pacific Patch Management Market
  • Middle East & Africa Patch Management Market
  • Latin America Patch Management Market

Competitive Landscape

An increase in product functionality is a key reason behind the increasing demand for patch managements. Therefore, market players are increasing their R&D spending in order to launch new products in the market. Furthermore, both acquisitions & mergers, collaborations, and regulatory approvals are also crucial components of effective growth.

• In July 2021, Atera raised $77 million in venture funding at a valuation of $500 million. The company helps SMBs manage their remote networks like businesses. With this funding, Atera plans to grow its customer base as well as enhance its product specifically, by adding more features to the artificial intelligence (AI). Atera currently uses to run predictive analytics, which is one of the technologies found in solutions aimed at large enterprises but missing from many SMB software solutions.
• Private equity firm TA Associates (TA) has invested in PDQ.com (PDQ), a provider of data asset management software for small and mid-sized businesses. A joint venture between TA and PDQ’s founders and management team is designed to accelerate PDQ’s growth through the expansion of its scalable portfolio of easy-to-use IT asset management and scanning products. With this partnership, the company can offer added value to global partners.