Global security analytics market revenue was US$ 7.8 Bn in 2019 and is expected to reach US$ 29.72 Bn by 2027, at a CAGR of 18.2% during forecast period.
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Security analytics is proactive security approach to cyber related threats. It is process of using data collection, analytic tools for security monitoring and threat detection. Security analytics is required to avoid cyber-attacks by traditional security solutions such as antivirus software, firewalls, and intrusion detection and prevention systems will require security analytics.
Rising number of cybercrimes and security breaches across the world are expected to grow the global security analytics market. Major driving factors behind security analytics market are, faster detection and remediation of cyber threats, effective threat detection, real time visibility, finding root cause of cyber incidents, better tracking & reduction of frauds. In addition, development of new security product and convergence of security intelligence with big data analytics are the major factors in the growth of security analytics market. However, lack of knowledge related to advanced cyber threats along with the lack of experienced security experts are expected to restrain the demand growth during forecast period.
Lack of end user knowledge and increasing number of malware attacks are becoming more difficult for security analytic tooling and infrastructure to prevent data. Response to this challenge a introduction of new big data security analytics has emerged in recent years, which are able to collect, prevent, detect, analyze and store huge amount of data.
Global Security Analytics Market: Segmentation Analysis
Managed security services is expected to grow the security analytics market. It leads the security analytics industry providing comprehensive and strong security analytics capabilities that help detect network threats. This threats are effectively managed and detected quickly by managed security services.
Currently, network security analytics holds the largest share of global security analytics market. Increasing cases of network and web-app security failures that brought damage to small or large enterprises and governments leads to demand of network security analytics is expected to improve growth for security analytics market. Furthermore, growing demand for cloud computing technologies and increasing adoption of mobile devices could grow the market during forecast period.
The banking, financial services and insurance industry are expected to grow during forecast period, which are analyzed in the report to understand the revenue coming to security analytics companies.
Global Security Analytics Market: Regional Analysis
Region wise, North America is expected to witness the growth and hold the biggest market share during forecast period. The US and Canada dominate the market owing to presence of organizations like Cisco, IBM with advanced infrastructure, which allows higher penetration of device.
United States and Canada based SMBs have the highest recovery cost, at USD 149 thousand on average (up 27% from USD 117 thousand in 2017).
The objective of the report is to present a comprehensive analysis of the Global Security Analytics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Security Analytics Market dynamics, structure by analyzing the market segments and project the Global Security Analytics Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Security Analytics Market make the report investor’s guide.
The Scope of Global Security Analytics Market
Global Security Analytics Market, By Services
• Professional Services
Support and Maintenance
Training and Education
• Managed Services
Global Security Analytics Market, By Application
• Web Security Analytics
• Network Security Analytics
• Endpoint Security Analytics
• Application Security Analytics
Global Security Analytics Market, By Deployment Mode
Global Security Analytics Market, By Industry
• Government and Defense
• Banking, Financial Services, and Insurance (BFSI)
• Consumer Goods and Retail
• IT and Telecom
• Energy and Utilities
Global Security Analytics Market, By Region
• North America (US, Canada)
• Europe (UK)
• Asia Pacific (India, China)
• South America (Brazil)
• MEA and Africa
Global Security Analytics Market, Key Players
• Huntsman Security
• Juniper Networks
• Hillstone Networks
• Alert Logic
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