Security Analytics Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast 2023-2027

Security Analytics Market Forecast 2023-2027

The Security Analytics Market size is estimated to increase by USD 6.51 billion and grow at a CAGR of 10.15% between 2022 and 2027. 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.

What will be the Size of the Security Analytics Market During the Forecast Period?

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Segmentation

This 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.

Market Segmentation By Sector

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 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 3.69 billion 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 and hence drive the growth of the market in focus during the forecast period.

Market Segmentation By Application

Network security analysis has become a key application in the global 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 platforms that combine machine learning and artificial intelligence for improved threat identification and quick incident response.

Regional Overview

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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 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 these 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 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.

Market Dynamics and Customer Landscape

The market is witnessing rapid growth, driven by the escalating demand for anticipatory security measures in response to evolving cybersecurity threats faced by business organizations. With the proliferation of multiple devices and public cloud services, enterprises are increasingly vulnerable to security breaches and data attacks, necessitating robust security infrastructure and data protection measures. Advanced security analytics solutions leverage big data technologies, artificial intelligence (AI), and machine learning (ML) to enhance threat identification and time-to-resolution metrics for cybercrimes across diverse sectors, including BFSI and IoT. As technological breakthroughs shape cyber threat landscapes, organizations rely on security intelligence to mitigate blind spots and fortify enterprise networks against emerging threats, driving market growth amidst increasing emphasis on cybersecurity by regulatory bodies like CISA.

Key Market Driver

The market is experiencing substantial growth, driven by the escalating frequency and complexity of cyber threats confronting business organizations worldwide. Traditional cybersecurity approaches are proving inadequate in combating modern security issues, leaving security infrastructure vulnerable to data attacks and breaches. To address these challenges, advanced solutions leverage data analysis, artificial intelligence, and machine learning to anticipate and mitigate cybercrimes. By integrating anticipatory security measures and big data technologies, organizations can enhance threat identification and time-to-resolution metrics, safeguarding against security breaches and ensuring robust data protection. As threats evolve and cyber threat landscapes expand, the Security Analytics Market is poised for significant growth, driven by technological breakthroughs and the imperative for cybersecurity resilience enforced by entities like the Cybersecurity and Infrastructure Security Agency (CISA).

Significant Market Trends

The adoption of artificial intelligence and machine learning is a primary trend in the market. The adoption of AI and ML algorithms for the global 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.

Major Market Restrain

The shortage of skilled cybersecurity professionals is a major challenge faced by the market. The systems have a major challenge to meet in terms of the lack of qualified cybersecurity personnel who are able to successfully adopt and manage the 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.

Market Customer Landscape

The 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 Market Customer Landscape

Who are the Major Security Analytics Market Companies?

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:

• 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

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.

Segment Overview

The 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. 

• Sector Outlook 
  • Large enterprises
  • Small and medium-sized enterprises

• Application Outlook 
  • Network security analytics
  • Web security analytics
  • Endpoint security analytics
  • Application security analytics
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America 
    • Chile
    • Argentina
    • Brazil

Market Analyst Overview

The market is witnessing exponential growth driven by the escalating cybersecurity approach adopted by business organizations to counter security issues across their enterprise networks. Anticipatory security measures leverage threat intelligence and advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) to mitigate cybercrimes and data attacks, ensuring data security amidst cloud-based deployments and IoT applications. Security analytics solutions enable real-time monitoring of connected network devices and multiple devices, addressing blind spots and enhancing time-to-resolution metrics for cyber threats like ransomware and advanced persistent threats (APTs). With a focus on BFSI and third-party payment integrations, the market for security analytics offers comprehensive security services and managed services, catering to evolving cyber threat landscapes and regulatory frameworks like GDPR.

Moreover, the market is witnessing substantial growth, driven by the increasing importance of security infrastructure in the face of rising cyber related threats and data breaches. As organizations embrace public cloud services and leverage big data technologies, the demand for advanced security monitoring and analytic tools intensifies. IT teams are leveraging technological breakthroughs and real-time applications to enhance security infrastructure, while addressing challenges posed by BYOD trends and IoT network connections. With the support of agencies like the Cybersecurity and Infrastructure Security Agency (CISA) and adherence to regulations like the General Data Protection Regulation (GDPR), the market for security analytics experiences robust growth, driven by the imperative for cybersecurity in an increasingly digitized landscape.

The landscape of technology and information services is evolving rapidly, driven by various market drivers and changing work patterns such as telecommuting. As remote work becomes increasingly prevalent, the demand for secure connections and data protection has soared, leading to the widespread adoption of Virtual Private Networks (VPN) and innovative security measures. Traditional security systems are undergoing a significant transformation in response to these market drivers. While conventional approaches have served their purpose, the shift towards telecommuting has necessitated more agile and robust solutions. Virtual Private Networks (VPN) have emerged as a cornerstone technology, providing encrypted connections for remote workers and safeguarding sensitive information against potential cyber threats. Waterfall Security, a novel concept in cybersecurity, is gaining traction as organizations seek to fortify their operational technology (OT) security. This approach ensures the protection of critical infrastructure and industrial control systems by creating an impassable barrier between IT and OT networks, preventing unauthorized access and potential cyber intrusions.

Operational Technology (OT) Security is becoming increasingly vital in today's interconnected world, where industrial systems are integral to essential services and manufacturing processes. As such, the convergence of IT and OT security measures is paramount, enabling organizations to safeguard their assets comprehensively. These technological advancements underscore the importance of embracing innovation to address evolving security challenges effectively. As telecommuting continues to shape the way we work, organizations must invest in robust security frameworks that incorporate Virtual Private Networks (VPN), Waterfall Security, and operational technology (OT) security to safeguard their assets and maintain business continuity in an increasingly digital world.

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 6.51 billion
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 forecasting, 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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