|Cisco Systems Inc. (U.S.)|
|IBM Corporation (U.S.)|
|Hewlett-Packard Enterprise (U.S.)|
|EMC RSA (U.S)|
|FireEye Inc. (U.S.)|
|Arbor Networks Inc. (U.S.)|
|Log Rhythm Inc. (U.S.)|
|Alert Logic Inc. (Click Security) (U.S.)|
|Market Driving Forces|
|Increasing adoption of mobile devices and growing demand for cloud computing technologies and internet of things are other major factors fueling the growth of security analytics market.|
Security Analytics Market Scope:Security analytics is the segment that deals with software, Algorithm, and processes that analyze security threats to IT systems. Security analytics assesses the security threat to a computer system so that the system can be protected from potential threats. The security analytics market has good prospects of growth in the forecast period. Moreover, the advancement in malware and cyber threat nature is a positive influence for the security analytics market. Security analytics focuses on the different aspects of data analysis related to cybersecurity threats. The data analyzed is used to increase the security measures linked with an IT system.
One example of an application of security analytics is the process of monitoring network traffic. Network analytics are used to assess security threats and increase security. Security analytics is the science behind detecting threats and their seriousness as opposed to protecting the system. Only when the threats are well-assessed can security be erected to avoid the threats. Knowing threats through security analysis provides an advantage of targeted resolution, which is more effective. Security analytics is used today in different companies. As every company depends on IT systems one way or the other, security analytics see high demand.
The security analytics market faces high demand because today, every IT system is at risk of cyber threats. Security analytics offers an advantage of a holistic view of threats as it takes both real-time and historical data into consideration. Therefore, a cyber-security expert gets an in-depth view of the threat assessment. Security analytics bolster an organization’s security firewalls by providing evidence-backed insights. Cybersecurity experts prefer security analytics for cybersecurity because the room for error reduces exponentially. The security analytics market, therefore, has a period of growth ahead.
Security Analytics Market COVID 19 Analysis:The COVID 19 pandemic has been a window of growth for IT and other allied segments. The dependence of organizations on IT and other digital technologies only increased in the pandemic. This also means that an increased number of organizations are open to exploitation by cybercriminals. Cybercrimes against business organizations are pretty common today. Cybercriminals use the opportunity of the pandemic to practice their hacking skills. Therefore, the need for security analytics applications is also high. Therefore, the pandemic has been a driver of high-profit growth for the security analytics market. The security analytics market benefits like other technology sectors from the pandemic.
Security Analytics Market Dynamics:There are many key drivers of the security analytics market that exert positive influences on the industry trends. These key drivers are the factors behind the security analytics market growth in the forecast period. For example, the increased adoption of technology by the business organization has a positive influence on the trends of the security analytics market. Secondly, the adoption of new telecommunication technologies is also a key driver of the security analytics market. Companies are using telecommunication solutions for remote communication. However, this also exposes the organization to different cyber threats. Therefore, there is a void that security analytics tools fill for IT and telecommunication.
Restraints:There are many restraints that the security analytics market has. The key players of the security analytics market have to work around these restraints. These market restraints affect the growth of the market. For example, although there are advanced security analytics tools for use, many companies are newly adapting to the digital workplace. Therefore, they lack the expertise needed to exercise security analytics. Thus the rate of adoption of security analytics technology suffers to an extent. Another market restraint is the lack of skilled manpower for the installation and maintenance of advanced threat detection systems. Moreover, many organizations lack the budget for IT threat detection. These are the major market restraints that plague the security analytics market.
Opportunities:The security analytics market faces many opportunities that can be tapped into in the forecast period. There are opportunities for growth due to the increased dependence on IT networks and systems in every sphere. Another opportunity is the need for better data privacy and personal data security in different spheres of public life that creates the need for security analytics applications.
Challenges:Challenges differ from restraints in the sense that the resolution of these challenges will lead to further security analytics market growth. One of the challenges for the security analytics market is the complexity of cybersecurity threats today. The security analytics industry has to evolve so that the security analytics market trends match the cybercrime trends in complexity. Another challenge that exists is the lack of proper expertise for the application of security analytics in real-life situations. Once these challenges are resolved, the security analytics industry will prosper even better.
Cumulative Growth Analysis:The security analytics industry has great opportunities for growth in front of it. Moreover, due to the digital revolution ahead of the IT industry. According to the Security Analytics Market experts, the Security Analytics Market Size will reach a valuation of 15 billion by 2023. The experts also predict that the Global Security Analytics Market will grow at a whopping rate of 27 percent in the forecast period. The Global Security Analytics business shows exponential growth in the next couple of years.
Security Analytics Market Segment Overview:The Security Analytics business divides into different segments based on different criteria. The market segments divide according to application and deployment. The market for Security Analytics Segments also include services and organization size. Another segment of the market bases upon verticals.
By Application:There are many different applications of security analytics, for example, Web Security Analytics, Network Security Analytics, and End Point Security Analytics.
By Services:There are many different services that security analytics offers to the sectors. For example, professional services and consulting are a part of services.
By Organization Size:The security analytics market caters to both SMEs and large-scale enterprises today.
Security Analytics Market Regional Analysis:The global Security Analytics market disperses over different regions of the world. Firstly, the major regional security analytics markets are North America, Asia Pacific, and Europe. Secondly, the minor regional markets combine into the Rest of the World. Moreover, these regional markets are made of individual countries of the region. According to the Security Analytics Market analysis, the biggest regional market for Security Analytics is the North American region. Moreover, the USA will hold the largest share of Security Analytics Market Sales. On the other hand, Asia Pacific will register the highest CAGR for the forecast period.
Security Analytics Market Competitive Landscape:The competitive landscape of the Security Analytics Industry is made up of key Security Analytics Market Players. Additionally, some of the Key Players are as follows:
The key Security Analytics market players belong majorly to the USA. Therefore, it is understood that the country USA will contribute highest in terms of Security Analytics market sales.
Apart from this, the key players of the market undertake multiple acquisitions and mergers to support positive security analytics market trends.
Report Overview:The global security analytics market outlook or overview is as follows:
The above report on the global security analytics market explains the major growth trends of the market. Secondly, the report keeps the present situation of the security analytics market in view while predicting the forecast period. Thirdly, it throws light on the market dynamics of the segment in the discussion. Moreover, this report also covers the basic segmentation of the market and its regional analysis. The report emphasizes the competitive landscape of the market and its recent developments. The reader gets a look at the security analytics market growth prospects through this report. The above report is a comprehensive report that considers different associated factors before arriving at a conclusion about the market scenario.
|Market Size||USD 43.6 Billion (2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application, By Service|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Hewlett-Packard Enterprise (U.S.), EMC RSA (U.S), FireEye, Inc. (U.S.), Arbor Networks, Inc. (U.S.), LogRhythm, Inc. (U.S.), Alert Logic, Inc. (Click Security) (U.S.), Blue Coat Systems, Inc. (U.S.), Alien Vault, Inc. (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||Increasing adoption of mobile devices and growing demand for cloud computing technologies and internet of things are other major factors fueling the growth of security analytics market.|
The Security Analytics Market It is approximately a valuation of USD 43.6 Billion, during the forecast period 2022-2030.
It is the rising adoption of mobile devices, as well as growing demand for cloud computing technologies along with internet of things, which is under the spotlight of factors fueling the security analytics market growth.
Globally, the North America region has been recorded to have the largest market share of the global security analytics market.
the Asia Pacific always have a high chance of opportunities bussing the market. China and India being the significant opportunity creators of the market.
Chief companies such as Cisco Systems, IBM Corporation, and HP are the key players who are till now investing heavily in the growth phase of the security analytics market.