Worldwide Security Analytics Market – Industry Trends and Growth Snapshot 2022
In recent years, increasing threat of cyber attack along with the rising adoption of cloud solutions for security purposes have created an urgent need for the development of security analytics services. Moreover, a steep rise in the sophistication level of security and threat breaches and strong compliance & regulations requirement are anticipated to open new growth avenues in the worldwide security analytics market over the coming years.
According to the new updated report on “Global Security Analytics Market Research Report- Industry Analysis, Size, Share, Growth, Trends And Forecast”
added by DecisionDatabases.com the global market is growing rapidly due to the rising security needs of BYOD and IoT trends, and increased deployment of cloud & web-based business applications. Furthermore, growing complexity and incidences of cyber attacks will have a positive impact on the growth of the market in the near future. Growing threats toward end-users and their entire set-up have encouraged many organizations to rapidly adopt security analytics solution, which in turn will propel market growth over the forecast period. However, shortage of expertise and expensive product development are major restraints, which can negatively impact the growth of the market in the forthcoming years.
The global market has been segmented based on service into professional services and managed services. The market has been further segmented based on deployment mode into cloud and on-premises. Furthermore, the market has been segmented based on organization size, application and vertical. Network security analytics is a leading application segment and is projected to witness a double-digit growth over the forecast period owing to the rising security breaches in enterprise networks along with the stringent security regulations globally. BFSI vertical is estimated to grow at the highest CAGR during the forecast period due to the growing adoption of mobile & web-based applications to avoid advanced cyber-attacks.
North America is a major market and is projected to continue its dominance in the study period on account of rising technological advancements and early adoption of security analytics solution in the region. Asia-Pacific is expected to become a fastest growing market during the forecast period due to the continuous technological advancement and rising demand across various industry verticals, especially from India, and China. Furthermore, rapid digitization of businesses and growing adoption of cloud services by SMEs will have a positive impact on the growth of the market in the APAC region.
Major industry players include Alert Logic, Inc., Alien Vault, Inc., Arbor Networks, Inc., Blue Coat Systems, Inc., Cisco Systems, Inc., EMC RSA, Fireeye, Inc., Hewlett-Packard Enterprise, IBM Corporation and Logrhythm, Inc. The global market is highly fragmented due to the presence of numerous unorganized players.
In Dec 2015, IBM has launched security analytics platform, “IBM Security QRadar”, along with a “security app exchange” for the sharing and creation of various programs developed on the enterprise’s security infrastructure.
In Feb 2016, Threatstream Inc. has introduced a threat intelligence analytics engine to secure services across the various industry verticals.
In June 2016, Nokia has extended its device management leadership into Internet of Things with the launch of the “IMPACT” (Intelligent Management Platform for All Connected Things), to support operators, governments and enterprises with a secure platform to scale new IoT services.
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