Patch management market is growing due to increasing need to mitigate vulnerabilities in software

The biggest rage presently being witnessed in the patch management market is the shifting focus toward automated business processes, throughout the world. Businesses are increasingly 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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Geographically, North America registered the highest adoption of patch management solutions in 2019, and this trend is expected to continue during the forecast period. In North America, the U.S is expected to record more-significant growth in the demand for patch management solutions, which is mainly ascribed to the increasing number of cyber-attacks and the presence of major  providers of these solutions in the country, such as Oracle Corporation, Micro Focus International PLC, Microsoft Corporation, Qualys Inc., Ivanti Inc., and HPE Company.

The rapid automation of business processes is the key patch management market trend. IT automation helps in integrating various processes and tools, via automated workflow. The conventional process of patch management creates the need for extensive human engagement, in not only accomplishing the process, but also keeping the software products updated with the newest compliance standards and most recently launched features. Contrarily, automating the process provides consistency, improved security, and better system insights, which lead to enhanced protection for organizations.

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The major driver for the growth of the patch management market is the increasing need to make the system less vulnerable to security threats. Due to the rising vulnerabilities, the IT system of companies is rapidly being hacked, with the intent of causing harm. The impact of such attacks on integrity, availability of data, confidentiality, and complexity of attacks can be studied to determine the severity of the vulnerabilities. Though the internet has opened doors of growth, it has also increased the risk of cyber-attacks.

Hence, it can be undoubtedly said that owing to the rising prevalence of cyber-attacks, the mushrooming need for advanced security systems and solutions, and the increasing requirement for updated applications, the demand for patch management solutions will observe huge increase in the coming years.

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How is Rising Population Level Fuelling Surge in U.S. HVAC Services Market?

The biggest factor fuelling the demand for heating, ventilation, and air conditioning (HVAC) services in the U.S. is the booming construction sector in the country, primarily due to the rising population level and increasing urbanization rate.

As per the U.S. Census Bureau, the population of the U.S. is set to increase by almost 7% during 2019–2029. As a result, the U.S. HVAC services market is predicted to see an increase in value from $25.6 billion in 2019 to $35.8 billion in 2030 and progress at a CAGR of 3.1% during the forecast period (2020–2030).

In the U.S, the demand for HVAC maintenance and repair, upgradation and replacement, installation, and consulting services is quite high. Amongst these, repair and maintenance services were demanded by a lot of American citizens during till 2019.

It has been observed that HVAC systems that go through frequent maintenance and repair activities lead to 20% more savings in energy consumption and exhibit improved functional efficiency.

The demand for consulting services for HVAC systems, including thorough inspection by technicians, is expected to register quick growth in demand during the coming years.

HVAC systems are widely used in the industrial, residential, and commercial sectors. Out of these, the highest sale of HVAC services was recorded in the commercial buildings in 2019. This is primarily attributed to the massive surge in the construction of various commercial buildings, especially those pertaining to the hospitality niche.

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Furthermore, the construction of new commercial spaces in the country is expected to propel the adoption of HVAC systems, thereby boosting the need for installation and maintenance services.

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What are Key Factors behind Robust Wound Closure Products Market Prosperity?

Around the world, the volume of surgeries is increasing, because of a rise in the prevalence of various diseases as well as the disposable income of people, especially in developing countries. According to the Centers for Disease Control and Prevention, six among every 10 people in the U.S. suffer from at least one chronic disease. Diabetes, cardiovascular diseases (CVD), cancers, and chronic obstructive pulmonary disease (COPD) are among the chronic diseases with the highest incidence. Several of them require surgeries for effective management, which, in turn, involve making incisions into the living tissue and then closing them.

Therefore, with a rise in the prevalence of chronic diseases and surgery volume, the wound closure products market size is growing steadily. Among all people, those in the older age groups are more susceptible to diseases and injuries, as they have diminished immune function and are also physically weak. Between 2019 and 2050, the number of people above 65 years of age would increase from 703 million to 1.5 billion, as per the latest World Population Ageing report by the United Nations.

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Additionally, such people’s blood circulation is also often inadequate, which is why their wounds take longer to heal. Similarly, due to the high chance of post-surgical infections in such people, the usage of wound closure products is higher among them. Apart from surgeries, these products are also used for treating the wounds caused by injuries, burns, and chronic diseases (such as the foot ulcers caused by diabetes). The WHO says that every year, 1.35 million are killed in road crashes every year, mostly due to untimely medical assistance and profuse bleeding.

Globally, North America consumes the highest amounts of the products needed to manage wounds, as the population of the elderly, number of burn victims, and incidence of obesity and diabetes are quite high here. According to the Administration for Community Living, under the U.S. Department of Health and Human Services, the number of people in the country more than 65 years old would increase from 49.2 million in 2016 to almost 98 million in 2060. In the coming years though, the wound closure market growth would be the most rapid in Asia-Pacific (APAC), due to the same reasons that currently lead to North America’s dominance on it.

Hence, it is clear that as more people grow old and become chronic disease patients, the surgery volume would increase, which, in turn, would significantly raise the demand for wound closure products.

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How are Surging Cancer Cases Driving Molecular Biology Kits & Reagents and Enzymes Market?

The prevalence of cancer across the world is rising at a significant rate. According to the World Health Organization, cancer is the second leading cause of death worldwide, and was responsible for about 9.6 million deaths in 2018. Cancer basically arises from the transformation of normal cells into tumor cells, which is a multistage process and usually progresses from a pre-cancerous lesion to a malignant tumor. Some of the major risk factors for cancer include alcohol usage, tobacco consumption, physical inactivity, and an unhealthy diet. If diagnosed early, cancer can be dealt with getting proper treatment and palliative care.

However, researchers are still striving to find a definitive cure for cancer, which could further aid in reducing the burden of the disease. Attributed to this, the demand for molecular biology kits & reagents and & enzymes is growing swiftly. These products are utilized for performing ribonucleic acid (RNA) analysis, deoxyribonucleic acid (DNA) isolation, cloning, polymerase chain reaction, DNA sequencing, RNA extraction, and protein analysis. They are also used for performing several diagnostic tests, genetic analysis, molecular tests, and aid in drug discovery and development. Associated with the field of biochemistry, biology, and genetics, molecular biology products allow scientists to understand the cellular systems in a better and simplified manner.

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Because of these factors, the molecular biology kits & reagents and enzymes market is expected to register substantial growth in the coming years. Apart from cancer, these products are also being utilized within the protocol for diagnosing patients who are suffering from diabetes and infections. DNA extraction process takes place with the help of molecular biology products, which is the initial step for the diagnosis of diseases and genetic disorders, including Alzheimer’s disease, sickle cell anemia, and cystic fibrosis. The techniques which are used for extracting DNA are terminal restriction fragment length polymorphism, fluorescence in situ hybridization, and sequencing.

Among the different products, namely kits & reagents and enzymes, the larger demand in the past was created for kits & reagents. Hospitals & diagnostic centers, academic and research institutes, and pharmaceutical and biotechnology companies make use of these molecular biology products. The largest demand for molecular kits & reagents and enzymes in the past was created by academic and research institutes for different research and development activities. The growing adoption of these products in different industries is predicted to result in the growth of the molecular biology kits & reagents and enzymes market.

Thus, in order to provide proper diagnosis for these diseases and for research regarding effective cures, molecular biology products are increasingly being adopted. 

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How is Rising Need for Healthcare IT Solutions Fuelling Progress Global Hospital Capacity Management Solutions Market?

The rising demand for better healthcare facilities and rapid technological advancements in the healthcare sector are the major factors fuelling the demand for hospital capacity management solutions across the world. In addition to this, the mushrooming investments being made by several healthcare information technology (HIT) companies, soaring number of hospitals, and burgeoning need for integrated healthcare solutions are further pushing the demand for these solutions throughout the world. Propelled by these factors, the global hospital capacity management solutions market is expected to exhibit huge growth in the coming years.

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There has been a massive rise in the prevalence of chronic diseases and geriatric population over the last few decades, and this has resulted in a growth in the demand for effective hospital capacity management solutions. These solutions help in enhancing the workflow efficiency and reducing hospital expenses, with the help of effective asset management (proper utilization and maintenance of high-end medical equipment) and bed management software, in order to help in the provision of quality patient care. Bed management measures allow the hospitals to track the rate of utilization of the beds and effectively manage various processes pertaining to bed admission and maintenance.

Globally, North America and Europe are observing the highest usage of hospital capacity management solutions. This is primarily attributed to the increasing incidence of chronic diseases, soaring geriatric population, higher healthcare expenditure, and improving healthcare infrastructure in these regions. Moreover, the swift technological advancements in such software, the rising awareness regarding the applications of these solutions, and raging COVID epidemic are significantly contributing to the growing demand for these solutions in these regions. In North America and Europe, the U.S. and Italy, respectively, are witnessing the widest adoption of such solutions.

Therefore, it is clear that due to the increasing need for automation in healthcare settings, burgeoning demand for the integration of HIT solutions, and the increasing requirement of better healthcare facilities and services, the demand for hospital capacity management solutions will rise significantly in the coming years.

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What are Factors Contributing to the Surge of Cyber Security Market in Asia-Pacific (APAC) in Future?

The rising prevalence of cyber-attacks across the world is one of the biggest factors fuelling growth in the demand for cybersecurity solutions all around the world. Since the last few years, there has been a massive surge in the incidence of cyber attacks, owing to the rising internet penetration, soaring number of smartphone users, increasing trend of bring your own device (BYOD), and escalating enterprise mobility requirements i across the world. 

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Due to the increasing awareness regarding security breaches, a majority of information technology (IT) companies (95% of the companies) have significantly increased their expenditure in cybersecurity solutions. The other major factor propelling the demand for cybersecurity solutions is the increasing usage of smartphones across the world. 

Driven by the above-mentioned factors, the global cyber security market is expected to demonstrate huge growth in its revenue over the next few years. North America accounted for the largest share in the cyber security market in 2016, with nearly 9% growth rate during 2013 – 2016. A large number of IT companies are located in North America, making it a hotspot for cyber-attacks.

The modern mobile devices are equipped with a plethora of advanced features similar to personal computers such as GPS navigation, access to email, internet, and many other applications, which consequently make them extremely susceptible to cyber-attacks. 

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Moreover, the security measures in these phones like firewalls are not updated regularly, which make the sensitive information stored in these devices such as contact details and password details much more enticing to cyber adversaries, which in turn, boost the demand for cybersecurity. 

Cybersecurity provides security in areas of network, application, endpoint, wireless, and cloud. Amongst these, the adoption of cybersecurity solutions for areas of enterprise applications is expected to be the highest in the coming years. This is mainly attributed to the rising demand for protecting enterprise data and applications from highly complex cyber attacks.

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How is Increasing Need for 5G Network Propelling Growth of Global GIS in Telecom Market?

Owing to the surging usage of geographic information system (GIS) for mobile and broadband services, especially for tracking the broadband infrastructure, the demand for GIS will increase rapidly across the world. In addition to this, the burgeoning usage of GIS by companies for studying and analyzing the specific areas suitable for their business expansion is significantly boosting the implementation of these systems.

Since the last few years, there have been huge investments for the expansion of the broadband infrastructure and developing high-speed networks, and these have considerably propelled the adoption of GIS in several countries.

Powered by the above-mentioned factor, the revenue generated from the worldwide sales of GIS solutions and provision of related services to telecom companies is predicted to increase from $1.3 billion to $4.6 billion from 2019 to 2030. The global GIS in telecom market is also expected to advance at a CAGR of 12.2% during the forecast period (2020–2030).

GIS is used for capturing, checking, storing, and displaying the data related to the various objects on the Earth’s surface, such as buildings and streets, as well as  topographical features. These systems are used in telecom industry for gathering real-time data and knowledge of the network structure.

GIS-based telecommunications network is widely used by large enterprises and small and medium enterprises (SMEs). Of these, the large enterprises recorded higher use of these systems during the historical period (2014–2019).

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This is mainly attributed to the fact that large telecommunications enterprises are increasingly shifting to GIS for improving their network connection and the installation process of their systems.

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