BLOG: The Security and Vulnerability Management Market Size Estimated To Be Worth $15.86 Billion by 2030

A report published by The Brainy Insights found that the global security and vulnerability management market is expected to grow from USD 6.7 billion (GBP 4.9 billion) in 2020 to USD 15.86 billion (GBP 11.6 billion) by 2030, at a CAGR of 9% during the forecast period 2021-2030.

A cybersecurity vulnerability is any flaw or weakness in your computer system, its security procedures, internal controls, or design and implementation, which could be exploited to violate the system security policy.

The cyber threat landscape is endlessly evolving and advancing, the vulnerability management system that organisations have should be a continuous and repetitive practice to ensure protection. A vulnerability management program that’s exclusive to an organisations requirements and demands should utilize vulnerability databases to stay current on the latest known vulnerabilities that might affect systems. It is key that organisations take the right measures to prevent and prohibit their cybersecurity vulnerabilities from being exploited by threat actors.

Vulnerabilities can be classified into six categories:

• Software
• Hardware
• Personnel
• Network
• Organisational
• Physical site

Vulnerability management is the repeated practice of identifying, classifying, remediating and mitigating cybersecurity vulnerabilities. Vulnerabilities should be categorised by severity and prioritise actions to remediate them. How critical a vulnerability is should dictate how quickly it is remediated.  

Threat actors can easily circumvent traditional and basic cybersecurity tools to gain access, alongside these outdated security defences will not be able to mitigate any risk or effectively respond and investigate endpoints. Organisations should invest in modern endpoint detection and response tools.

Weak network segmentation and monitoring can allow cybercriminals to gain full access to the systems in your network subnet once they’ve gained initial access. 

Inadequate and weak management of credentials and lack of authentication is one of the most common causes of compromises and breaches for organisations. Organisations should execute strict password regulations that require multi-factor authentication, more complex passwords, longer passwords and regular password changes.

Organisations conduct regular security awareness training exercises, including phishing tests, pretexting, and additional social engineering as needed. Employee training should be contextual and relevant to their job functions, and you should track success or failure rates to make sure there’s an improvement.

New vulnerabilities are constantly being identified, known vulnerabilities often remain unpatched and attackers attempt to exploit them in large numbers. Unidentified vulnerabilities also pose risk to your organisation and are potentially exploitable via zero-day exploits.

A zero-day exploit exploits an unknown vulnerability and threat actors use these types of vulnerabilities to launch malicious attacks on individuals, organisations and institutions with adverse effects. Zero-day vulnerabilities are gaps within a system that have not yet been detected, these gaps may be known to cybercriminals and threat actors, and as a result, they attempt to exploit them. Cybercriminals and threat actors can compromise an entire network by going completely undetected for some time. Artificial intelligence helps to stop zero-day attacks the instant that threat actors attempt any malicious moves using real-time threat detection.

One of the largest vulnerability databases is run by MITRE, called Common Vulnerabilities and Exposures (CVEs). MITRE assigns CVEs a vulnerability score using the Common Vulnerability Scoring System (CVSS) to reflect the potential risk a vulnerability could pose to your organization.

Using the 10-point CVSS scale for vulnerability severity in conjunction with five-point scales for data sensitivity and existing controls, you can rank your vulnerabilities on a scale of 0.2 for a low-severity vulnerability in a well-controlled system containing only public information to a maximum of 50 for a high-severity vulnerability in a system lacking security controls containing highly sensitive information.

Orpheus Vulnerability Severity Score (OVSS) uses our cyber threat intelligence, Machine Learning, and other features to give every CVE a score, allowing organisations to filter vulnerabilities on their network by those that are the most serious. Without this approach to risk-based CVE management, it is incredibly difficult to know which vulnerabilities to patch first and this enables organisations’ to prioritise. To find out more click here.