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The Security Analytics Market size is estimated to grow at a CAGR of 10.15% between 2022 and 2027. The market size is forecast to increase by USD 6,512.26 million. The growth of the market depends on several factors, including the increasing cyber threats, the growing adoption of cloud and IoT, and the stringent data protection regulations. Security analytics is the process of gathering, analyzing, and interpreting data from diverse security sources for the purpose of identifying potential threats, vulnerabilities, and patterns of harmful behavior within an organization's IT infrastructure. It is essential for improving all cybersecurity measures since it enables proactive threat detection, incident response, and risk reduction.
This security analytics market report extensively covers market segmentation by sector (large enterprises, small, and medium-sized enterprises), application (network security analytics, web security analytics, end point security analytics, application security analytics, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
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The increasing cyber threats a driving growth in the security analytics market. Two key factors that drive the global Security Analytics Market are cyber attack's frequency and complexity. Traditional security techniques are becoming ineffective at detecting and preventing breaches as cyber threats become more complex.
To find patterns suggestive of harmful activity, advanced security analytics solutions use machine learning, artificial intelligence, and behavioral analytics. In order to protect vital assets and the integrity of digital ecosystems intact, advanced security analytics solutions need to address these emerging problems. Owing to such factors, the market in focus is expected to witness significant growth during the forecast period.
The adoption of artificial intelligence and machine learning is a primary trend in the security analytics market. The adoption of AI and ML algorithms for the global security analytics market is an important development, which radically changes how organizations understand and respond to cyber threats. A huge volume of data can be processed by security analysis systems, spot patterns, and spot abnormalities more precisely, thanks to AI and ML, which also help to decrease false positives and boost threat detection efficiency.
Moreover, using past data, the use of ML predictive analysis to anticipate potential cyber threats, enabling preventive measures to thwart attacks. Such factors are expected to drive the growth of the market focus during the forecast period.
The shortage of skilled cybersecurity professionals is a major challenge faced by the security analytics market. Security analytics systems have a major challenge to meet in terms of the lack of qualified cybersecurity personnel who are able to successfully adopt and manage security Analytics systems. Data analysis, threat identification, and incident response skills are necessary due to the complexity and quick evolution of cyber threats.
However, there is a greater need for cybersecurity professionals than there is a qualified workforce, which delays implementation, increases the workload for current employees, and exposes possible vulnerabilities owing to insufficient analysis. To meet this challenge, efforts should also be put into recruitment and training of cybersecurity staff and promoting cooperation in the fields of industry-academia. Failing to do so, the market in focus is expected to witness a hindrance in growth during the forecast period.
The market share growth by the large enterprises segment will be significant during the forecast period. Due to their immense IT infrastructure and increased sensitivity to cyber threats, large companies are a prominent end-user in the global security analytics market. Their increasing demand for sophisticated security tools that are able to quickly identify and fight complex attacks.
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The large enterprises segment showed a gradual increase in the market share of USD 3,692.57 million in 2017 and continued to grow by 2021. As businesses place a high priority on risk management and cyber resilience, it is expected that demand for security intelligence within large organizations will continue to grow. Owing to these factors, large enterprises are expected to continue being a significant end-user of security analytics and hence drive the growth of the market in focus during the forecast period.
Network security analysis has become a key application in the global security analytics market, due to the increasing prevalence of digital technologies and the escalating cyber threats. Enterprises opt for reliable solutions to monitor and defend their intricate networks against cunning attacks. Identifying and quickly resolving security breaches is aided by real-time monitoring, anomaly detection, and threat-hunting capabilities provided by network security analysis. The market in focus saw a rise in demand for sophisticated technologies that could recognize and counter insider threats and zero-day threats. Leading companies provide complete network security analytics platforms that combine machine learning and artificial intelligence for improved threat identification and quick incident response.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market for security analytics is expanding and changing significantly. Major factors driving the growth of the regional market are the region's extensive use of advanced technologies, rising cyber threats, and strict regulatory requirements. Investment in security analytics tools to identify and stop complex cyberattacks is being made by financial, and healthcare organizations as well as government institutions. The scalability and affordability of cloud-based security analytics tools are making them more and more popular. The issues like the lack of qualified cybersecurity experts and the dynamic threat landscape continue. Organizations are realizing the value of strong security measures to protect their digital assets and consumer data, and this is expected to drive the growth of the market in focus during the forecast period.
The COVID-19 pandemic in 2020 accelerated the use of security analytics in North America as remote work increased cyber threats. However, with the introduction of COVID-19 vaccines by the governments of the region in 2021, economic recovery led to increased IT spending, which has been even more beneficial to the security analytics sector. The growth of the security analytics market in North America during the forecast period is anticipated to be fueled by elements such as the increasing frequency of cyberattacks, increased use of IoT and connected devices, and growing awareness of data privacy rules.
The Security Analytics Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Security Analytics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Broadcom Inc. - The company offers security analytics such as Symantec Security Analytics.
Cisco Systems Inc. - The company offers security analytics such as Cisco Security Analytics and Logging.
Dell Technologies Inc. - The company offers security analytics through its subsidiaries RSA Security and Secureworks.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The security analytics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Security Analytics Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.15% |
Market growth 2023-2027 |
USD 6,512.26 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.76 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Broadcom Inc., Cisco Systems Inc., Dell Technologies Inc., Exabeam Inc., Forcepoint LLC, Fortinet Inc., Fortra LLC, GURUCUL, Haystax, Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., LogRhythm Inc., McAfee LLC, Musarubra US LLC, Palo Alto Networks Inc., Rapid7 Inc., Securonix Inc., Sumo Logic Inc., and Tier 3 Pty Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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