ABI Research has predicted in a new report that the global threat and vulnerability management market will reach $8.6 billion by 2020 from $5.3 billion in 2015.
Monolina Sen, senior analyst in digital security at ABI Research, stated cloud computing and big data are projected to give rise to new vulnerabilities, thus spurring the demand for threat protection systems.
“Each day, organizations are deluged with warnings about newly discovered security vulnerabilities,” added Sen.
“While well-known security flaws, such as Heartbleed, affected industries globally, lesser-known vulnerabilities have just as much impact on critical systems in a particular enterprise,” she said.
ABI Research also cited software as a service providers as the segment with the most number of vulnerabilities.
Weaknesses in design and government regulations are also expected to pose a challenge to the market during the forecast period.
The report profiles companies such as Tenable Network Security, Qualys, Core Security, IBM, Rapid7, AlienVault, Tripwire, Skybox Security, HP, Intel Security, EMC, Symantec and Secunia.