Anomaly Detection Market by Deplyment and Geography - Forecast and Analysis 2022-2026

The anomaly detection market share is expected to increase by USD 4.23 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.08%.

This anomaly detection market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the anomaly detection market segmentation by deployment (cloud and on-premise) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The anomaly detection market report also offers information on several market vendors, including Accenture Plc, Anodot Ltd., Avora, Broadcom Inc., Cisco Systems Inc., Dynatrace Inc., Intel Corp., International Business Machines Corp., Kemp Technologies Inc., KNIME AG, Mechademy Incorp, Microsoft Corp., Prophix Software Inc., SAS Institute Inc., Singapore Telecommunications Ltd., SolarWinds Corp., SUBEX Ltd., TIBCO Software Inc., Wipro Ltd., and Zoho Corp. among others.

What will the Anomaly Detection Market Size be During the Forecast Period?

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Anomaly Detection Market: Key Drivers, Trends, and Challenges

Anomaly detection tools are gaining traction in the BFSI sector, which is driving the anomaly detection market growth, although factors such as infrastructural requirements may impede the market growth during the forecast period.

Key Anomaly Detection Market Driver

Anomaly detection tools are gaining traction in the BFSI sector, which is driving the anomaly detection market growth. Anomaly detection-based fraud prevention and detection solutions are more common than prescriptive and predictive analytics in the BFSI sector. Such applications require a standard machine-learning model that is trained to check the incoming data, which is constantly changing. This type of anomaly detection tool is trained to have a baseline value of normalcy for loan applications, financial activities, and account information. Anomaly detection software is becoming increasingly popular in the BFSI sector because it alerts human monitors about any deviations from the expected patterns. Anomaly detection systems are used in the BFSI sector for interacting with various other financial institutions or activities. As a result, this industry is rapidly implementing IT solutions to reduce manual dependency and increase processing efficiency. For example, CSI's fraud anomaly detection software for banks alerts banks to suspicious activities through automated alerts, allowing them to be vigilant and monitor compliance constantly. These factors will fuel the anomaly detection market growth during the forecast period.

Key Anomaly Detection Market Trend

The rising incidence of internal threats and cyber fraud is a key trend in the anomaly detection market. The increasing prevalence of internal threats and cyber frauds has increased the use of anomaly detection software and solutions. These technologies are being used by businesses to detect unusual patterns in the network data flow that indicate a hacking attempt or fraudulent activity. Anomaly detection is used to detect defects in operating environments as well as to detect fraud in online transactions. The rise in interest in anomaly detection is driven by the growth of IoT and the increasing demand for advanced solutions to monitor connected use cases. The increasing use of anomaly detection systems in software testing, as well as a greater emphasis on high-performance data analysis, are propelling market growth. Global demand for anomaly detection is also being driven by the increasing introduction of advanced solutions with new functionalities and features. Several industry players are leveraging machine learning and artificial intelligence (AI) technology to provide solutions that will assist users in quickly identifying unexpected changes in patterns and behavior. Thus, the rising incidence of internal threats and cyber frauds will support the market growth during the forecast period. 

Key Anomaly Detection Market Challenge

Infrastructural requirements will challenge the growth of the anomaly detection market. Advanced infrastructure is required to deploy anomaly detection. Access control systems require the installation of an extensive database of biometric/card scanners that are integrated with locks. Alarm systems must be integrated with sensors or manual switches, which requires robust building infrastructure. Surveillance activities generate a large volume of audio-visual (AV) data, which must be stored and archived. Hence, the need for high-quality and high-density storage solutions in the surveillance industry is high. Storage solutions must also be scalable to accommodate continuous changes in the volume of surveillance data. The effective implementation of surveillance and security equipment necessitates high bandwidth. However, the lack of robust network infrastructure in developing and underdeveloped countries reduces the availability of high bandwidth, which affects data transmission. The deployment of perimeter intrusion detection systems on the cloud also requires high bandwidth. Accessing cloud computing services from remote locations must be free from packet loss and latency issues to meet service-level agreements (SLAs). Accessing terabytes of data from cloud-based systems requires efficient IT systems that are free from networking issues. Such factors will hamper the growth of the anomaly detection market during the forecast period.

This anomaly detection market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global anomaly detection market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the anomaly detection market during the forecast period.

Who are the Major Anomaly Detection Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Accenture Plc
• Anodot Ltd.
• Avora
• Broadcom Inc.
• Cisco Systems Inc.
• Dynatrace Inc.
• Intel Corp.
• International Business Machines Corp.
• Kemp Technologies Inc.
• KNIME AG
• Mechademy Incorp
• Microsoft Corp.
• Prophix Software Inc.
• SAS Institute Inc.
• Singapore Telecommunications Ltd.
• SolarWinds Corp.
• SUBEX Ltd.
• TIBCO Software Inc.
• Wipro Ltd.
• Zoho Corp.

 

This statistical study of the anomaly detection market encompasses successful business strategies deployed by key vendors. The anomaly detection market is fragmented, and the vendors are deploying pricing and marketing strategies to compete in the market.

Product Insights and News

• anodot.com - The company offers anomaly detection for protecting revenues and managing costs.
• broadcom.com - The company offers anomaly detection, such as DX operational intelligence, which provides the tools to identify anomalous events across networks, infrastructure, and application metrics and trigger an alarm for the anomalies identified.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The anomaly detection market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Anomaly Detection Market Value Chain Analysis

Our in-house experts produce extensive information on the value chain and parent market of the anomaly detection market, which vendors can leverage to gain a competitive advantage during the forecast period. The value chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Anomaly Detection Market?

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40% of the market’s growth will originate from North America during the forecast period. The US is the key market for the anomaly detection market in North America. Market growth in this region will be faster than the market growth in Europe, South America, the Middle East and Africa.

The increased adoption of anomaly detection software by enterprises and the initiatives by vendors to offer enhanced products will facilitate the anomaly detection market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The anomaly detection market in North America witnessed slow growth in the first half of 2020 owing to the outbreak of COVID-19. The outbreak compelled governments to impose nationwide lockdowns. Similarly, in 2020, the rising number of COVID-19 cases in the region hindered the sales of anomaly detection software. However, in the first half of 2021, with the introduction of vaccines, there was a gradual decline in the number of COVID-19 cases; consequently, enterprises and companies reopened and restarted their operations. The advent of new technologies and innovations in the cloud and IoT, along with the growing popularity of digital transformation, has raised the importance of cybersecurity. Such major factors are anticipated to increase the need for anomaly detection software and help the anomaly detection market record a significant growth rate during the forecast period.

What are the Revenue-generating Deployment Segments in the Anomaly Detection Market?

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The anomaly detection market share growth in the cloud segment will be significant during the forecast period. Cloud-based solutions offer quick deployment, improved flexibility and scalability, real-time data visibility, and customization capabilities. Service providers offer all these functionalities with flexible payment options, such as monthly subscriptions and a pay-as-you-go model. Hence, cloud-based software deployment is cost-effective and economical when compared with the on-premises deployment model. 

Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the anomaly detection market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Anomaly Detection Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.08%
Market growth 2022-2026	$4.23 billion
Market structure	Fragmented
YoY growth (%)	14.4
Regional analysis	North America, Europe, APAC, South America, and the Middle East and Africa
Performing market contribution	North America at 40%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Accenture Plc, Anodot Ltd., Avora, Broadcom Inc., Cisco Systems Inc., Dynatrace Inc., Intel Corp., International Business Machines Corp., Kemp Technologies Inc., KNIME AG, Mechademy Incorp, Microsoft Corp., Prophix Software Inc., SAS Institute Inc., Singapore Telecommunications Ltd., SolarWinds Corp., SUBEX Ltd., TIBCO Software Inc., Wipro Ltd., and Zoho Corp.
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, and 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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What are the Key Data Covered in this Anomaly Detection Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive anomaly detection market growth during the next five years
• Precise estimation of the anomaly detection market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the anomaly detection industry across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of anomaly detection market vendors

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