According to the latest report by IMARC Group, titled "Security Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global security analytics market size reached US$ 4.2 Billion in 2021. Security analytics refers to the process that involves data collection, aggregation and analysis for threat detection and security monitoring. It offers proactive security measures to enterprises, thus enabling them to provide real-time alerts of attempted attacks or incidents that are in progress from servers, sensors and mobile devices. It involves the collection of large amounts of data, which is further categorized and analyzed from network devices with the help of big data analytics and machine learning. Based on data mining and threat detection algorithms, it provides geo-location, digital asset metadata, threat intelligence and internet protocol (IP) context-related analytical results. It is also essential for monitoring network traffic volume and maintaining third-party threat intelligence feeds across the defense, information technology (IT) and banking sectors.
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Global Security Analytics Market:
The market is primarily driven by the increasing incidences of cyber threats and security breaches on the global level. Growing concerns regarding the unauthorized intrusions in the corporate sector have led to the widespread adoption of security analytics. These services aid in discovering patterns of the threat while obtaining insights to prevent data losses and secure the network infrastructure. The market is further driven by the convergence of big data analytics with security intelligence across numerous organizations. Apart from this, there has been an increase in the deployment of cloud-based platforms that require security analytics for facilitating web-based management to enhance scalability, network security and speed. Furthermore, numerous players are introducing better security products with stringent regulations and compliance requirements that are gaining widespread prominence among end users. For instance, they have launched services that offer deep packet analysis of the network traffic for identifying and resolving malware. They have also developed next-generation firewalls, anti-malware gateways, Intrusion Prevention Systems (IPS) and endpoint security applications, thereby providing an impetus to the market. Some of the other factors contributing to the market growth include the prioritization of network-based patterns and the growing investments by several governments and defense organizations. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 13.2% during 2022-2027.
- On the basis of the component, the market has been bifurcated into solutions and services (professional and managed services).
- Based on the application, the market has been divided into application, web, endpoint, network and other security analytics.
- On the basis of the deployment mode, the market has been classified into cloud-based and on-premises.
- Based on the organization size, the market has been categorized into small and medium enterprises, and large enterprises.
- On the basis of the vertical, the market has been segmented into BFSI, healthcare, manufacturing, consumer goods and retail, IT and telecom, government and defense, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Welsh, Carson, Anderson & Stowe, AT&T Cybersecurity, NetScout Systems, Inc., Cisco Systems, Inc., Fortinet, Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, LogRhythm Inc. (Thoma Bravo, LLC), McAfee, LLC, RSA Security LLC (Dell Technologies Inc.), and Splunk Inc.
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