The global patch management market generated revenue of $ 535.4 million in 2019, and it is predicted to reach a value of $ 3,245.6 million by 2030, at a 17.8% CAGR during 2020–2030 (forecast period). Patch management solutions are widely employed in the banking , financial services, and insurance (BFSI), information technology (IT) & telecom, government, 2030, education, and retail sectors.
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The biggest rage presently being witnessed in the patch management market is the shifting focus toward automated business processes, throughout the world. Businesses are gradually switching over to automated processes in order to improve productivity, enhance efficiency, and reduce operational costs.
Moreover, automation removes the requirement for manual patch installation, enables the implementation of missing patches through automated workflows, and enhances system insights, thereby increasing the efficiency of the security management process.
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This market research report provides a comprehensive overview of the patch management market
- Historical and the present size of the patch management market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential