A recent research report by Omdia has unveiled that risk-based vulnerability management (RVBM) is predicted to dominate the vulnerability management market by 2027. This comprehensive analysis conducted by Omdia examines the evolution of the vulnerability management market and provides valuable insights into RVBM and its broader role in the field of cybersecurity.
Andrew Braunberg, Principal Analyst with Omdia and author of the report, explained the driving factors behind the emergence of RBVM. He noted that traditional vulnerability management tools have faced significant challenges in meeting the needs of modern enterprises due to the complexities associated with digital transformation, the expanded attack surface, the proliferation of IoT devices, and the accelerated application development lifecycle.
RBVM focuses on better understanding and assessing risk as its core objective. Instead of simply aiming to patch vulnerabilities faster, it addresses the scale problem by incorporating smarter and better-informed prioritization. This approach enables enterprises to determine which vulnerabilities should be patched immediately and which ones can be delayed or even ignored for the time being.
According to Omdia’s research, vulnerability management is set to be the highest area of investment in 2022/23. Omdia has been closely monitoring the investment activity within this market, with many key players acquiring startups in recent years. The report highlights that RBVM represents a significant shift in the way organizations manage vulnerabilities and provides cybersecurity operations teams with the necessary tools to measure and make decisions based on vulnerability risk.
In terms of market revenue, Omdia’s research indicates that the total global vulnerability management market generated $2.008 billion in 2022. Although there was a slight year-over-year growth reduction of 4.8%, Omdia predicts stronger growth in 2023 and 2024 driven by the increasing adoption of RBVM.
To provide additional insights, Omdia is offering complimentary access to the report titled “Omdia Universe: Risk-Based Vulnerability Management Solutions, 2023” through its website, requiring only free registration.
Omdia, a part of Informa Tech, is a renowned technology research and advisory group. Their expertise in the tech market, combined with their actionable insights, empowers organizations to make informed growth decisions.
About the publisher, Gary Miliefsky, a prominent figure in the field of cybersecurity, is an internationally recognized expert, bestselling author, and keynote speaker. He has played a pivotal role in the US Department of Homeland Security as a Founding Member and has contributed to the National Information Security Group and the OVAL advisory board of MITRE responsible for the CVE Program. Furthermore, he is the Founder and Publisher of Cyber Defense Magazine since 2012. For more information about Gary Miliefsky and the magazine, visit their website at https://www.cyberdefensemagazine.com/.
In conclusion, Omdia’s research emphasizes the increasing significance of risk-based vulnerability management in the vulnerability management market. With its focus on understanding and assessing risk effectively, RBVM offers a solution to the challenges faced by enterprises in the ever-changing cybersecurity landscape. As investments in vulnerability management continue to rise, the adoption of RBVM is expected to drive market growth in the coming years.