ABI Research forecasts global threat and Vulnerability Management (VM) market to increase to $8.6 billion by 2020 from $5.8 billion in revenue in 2015.
The research agency attributed cloud computing and big data as growth drivers.
As vulnerability assessment (VA) is a key component of a VM program, ABI Research calculates total revenues generated by the VA market to reach $1.4 billion by the end of 2016 and grow to $2.1 billion by 2020.
“There is increasing market demand for vulnerability management solutions, like the IBM QRadar Security Intelligence Platform, Barracuda Vulnerability Manager, AlienVault Unified Security Management solution, and Rapid7 Nexpose 6.0,” said Monolina Sen, Senior Analyst at ABI Research.
“The ideal VM solution is one that integrates well with third-party technologies and includes capabilities for asset management, configuration management, patch management, VA, remediation, reporting, and monitoring.”
Further, ABI Research calculates the overall software security testing market to grow to $6.9 billion by 2020.
“Currently most enterprises lack the proper skillset, management funding, or support to build comprehensive, targeted threat and vulnerability management solutions,” concludes Sen.
“Incorporating Agile methodologies into software development process can have a big impact on the overall success of an organization’s software security program, as well as the interim usefulness of development and investment.”