Albany, NY -- (SBWIRE) -- 08/16/2019 -- The global security and vulnerability management market is expected to witness significant growth during the forecast period. This growth is attributed to the increasing usage of cloud-based solutions and services, and the growing demand for security and vulnerability management solutions in the BFSI and healthcare sectors. North America is expected to be the dominant region in 2017 in terms of value in the security and vulnerability management market. In the coming years as well, North America is expected to be a key market for substantial revenue generation. New product launches and business partnerships are the key strategies followed by various players in the security and vulnerability management market to increase their value and to enhance their customer base.
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Web-based social networking is one of the world\'s quickest developing marvels, with most people and organisations currently having their presence on different online social networking sites including Facebook, Twitter, and LinkedIn. With this assistance, business-prone data would now be available to the public. Accordingly, to deal with social media efficiently and effectively, various regions in the globe are enhancing security procedures to connect the power of these various platforms, while limiting the risk by applying cyber security solutions to upgrade performance and enhance security intelligence.
Worldwide ICT spending is increasing significantly every year owing to the rising adoption of connected devices for Internet usage, and the continuous launches of new IT and communication technologies in the last three years. The global security and vulnerability management market is witnessing significant growth due to this increased ICT spending, especially in countries such as U.S. and China.
Video games use advanced technologies that consist of cutting-edge software and hardware to provide complete entertainment to users. It is no wonder that the gaming market is on an upward swing and is likely to continue its growth in the coming years. Global gaming companies are adopting security and vulnerability management on a large scale to deal with inherent issues such as piracy. Malware wrapped game installers are the most common cyber threats that online gaming platforms have to deal with. Due to such threats, gaming companies are investing a lot in cyber threat counter measures by adopting security and vulnerability management solutions. This factor is anticipated to boost global market revenue growth significantly.
The BFSI segment is expected to exhibit a high market attractiveness index over the forecast period
In terms of value, the BFSI segment is projected to be the most attractive vertical in the global security and vulnerability management market during the forecast period. In 2016, the BFSI segment was the dominant vertical, valued at more than US$ 1,200 Mn, and is expected to remain dominant in terms of value throughout the forecast period. However, the healthcare segment is projected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 13.2% during the forecast period.
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