Ongoing concerns about enterprise cyber defense shortcomings will drive demand for comprehensive solutions that reduce the impact of security threats. As more companies embark upon digital transformation projects, software security automation will be integrated into DevOps methodologies.
Cloud computing and big data apps will drive the global threat and Vulnerability Management (VM) market to increase from its current $5.8 billion in revenue in 2015 to reach $8.6 billion by 2020, according to the latest worldwide market study by ABI Research.
Moreover, nefarious security attacks are driving market growth and subsequently increasing the number of VM solutions available to protect people and their organizations from potential security breaches.
Quest for Comprehensive IT Solutions
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.
ABI analysts believe that 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.
Yet, as evident from the plethora of security incidents and privacy regulations present in the industry, there is a need to design, develop, and deploy more secure software with capabilities that go beyond the scope of traditional VM solutions.
VM Market Development Opportunities
Companies working to fill this void include Cigital, IBM, Prevoty, and Veracode, among others. ABI Research calculates that the overall software security testing market to grow to $6.9 billion by 2020.
"Currently most enterprises lack the proper technical staff 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.