LONDON, March 16, 2016 /PRNewswire/ -- ABI Research, the leader in transformative technology innovation market intelligence, expects cloud computing and big data to drive the global threat and Vulnerability Management (VM) market to increase from its current standing at $5.8 billion in revenue in 2015 to $8.6 billion by 2020. Nefarious security attacks are driving market growth and subsequently increasing the number of VM solutions available to protect people and organizations. 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," says 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."
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. Companies working to fill this void include Cigital, IBM, Prevoty, and Veracode, among others. 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."
These findings are part of ABI Research's Cybersecurity Technologies Service (https://www.abiresearch.com/market-research/service/cybersecurity-technologies/), which includes research reports, market data, insights, and competitive assessments.
About ABI Research
For more than 25 years, ABI Research has stood at the forefront of technology market intelligence, partnering with innovative business leaders to implement informed, transformative technology decisions. The company employs a global team of senior analysts to provide comprehensive research and consulting services through deep quantitative forecasts, qualitative analyses and teardown services. An industry pioneer, ABI Research is proactive in its approach, frequently uncovering ground-breaking business cycles ahead of the curve and publishing research 18 to 36 months in advance of other organizations. In all, the company covers more than 60 services, spanning 11 technology sectors. For more information, visit www.abiresearch.com.
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SOURCE ABI Research