Security Analytics Market, By Application (Web Security, Network Security, Endpoint Security, Application Security), By Service (Professional, Managed), By Organization Size, By Deployment and By Vertical - Forecast 2023
Market Synopsis:
Market Research Future (MRFR)’s new study has projected that the global security analytics market is set to expand exponentially at a CAGR of 27% during the forecast period 2017 to 2023. The valuation of the global market is expected to reach USD 15 Bn by the end of 2023. Security analytics facilitates the early detection of threats and potential attacks which has accelerated its adoption across different industry verticals. This, in turn, is likely to catapult the security analytics market on an upward trajectory over the assessment period.
Security analytical tools enable an organization to maintain an effective threat management system and also track unusual traffic between servers. It is one of the major factors responsible for aiding the proliferation of the market. Additionally, the ongoing trend of Bring Your Own Device (BYOD) coupled with the adoption of the Internet of Things (IoT) has accelerated the revenue creation for security analytics market participants.
The market looks attractive presently and is estimated to scale new heights through the review period. An upsurge in demand is expected from different industry verticals over 2023 which is forecasted to augment the security analytics market.
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Market Segmentation:
By application, the Global Security Analytics Market has been segmented into web security analytics, network security analytics, end point security analytics, application security analytics, and others.
By service, the security analytics market is segmented into professional services, consulting, training & education, support & maintenance, and managed services.
By organization size, the global security analytics market has been segmented into SMEs and large enterprises.
By deployment, the security analytics market is segmented into cloud and on-premise.
By vertical, the global security analytics market has been segmented into BFSI, healthcare, manufacturing, retail, education, IT & telecommunication, transportation, government & defense, and others.
Regional Analysis:
By region, the global security analytics market has been segmented into Asia Pacific, North America, Europe and the Rest of the World. At present, North America holds the largest share of the global market and is likely to retain its prominence in the foreseeable future. The growth of the regional market can be ascribed to technological developments and rising demand for cloud computing technologies. The consolidation of major players in the region is also expected to drive the expansion of the security analytics market in the region. The U.S. and Canada are the important country-level markets of the regional market.
Europe is an important growth pocket and is projected to resonate strong opportunities for growth throughout the forecast period. The well-developed infrastructure of the region is conducive to the large-scale implementation of novel technologies. This, in turn, is projected to expedite the proliferation of security analytics market in the region.
Asia Pacific is poised to strike the highest CAGR during the projection period. The growth of the regional market is attributed to the massive opportunities posed by different industry verticals for the deployment of security analytics. Furthermore, the presence of fast-developing economies such as China and India is another major factor responsible for the expansion of the security analytics market in the region.
Competitive Dashboard:
Some of the key players profiled in the report are Alien Vault, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Hewlett-Packard Enterprise (U.S.), EMC RSA (U.S), IBM Corporation (U.S.), FireEye, Inc. (U.S.), LogRhythm, Inc. (U.S.), Alert Logic, Inc. (Click Security) (U.S.), Arbor Networks, Inc. (U.S.), and Blue Coat Systems, Inc. (U.S.).
Industry News:
In October 2018, The University of Texas at San Antonio (UTSA) received USD 2 Mn for training the national security analytics cyber workforce.
In October 2018, Fortinet, a US-based cybersecurity company, acquired ZoneFox, which is a Scottish-founded security analytics company.
In October 2018, Bitdefender, cybersecurity protector of more than 500 million systems, has acquired behavior and network security analytics company, RedSocks Security BV (RedSocks).
In October 2018, A10 Networks, a provider of intelligent and automated cybersecurity solutions, has announced the introduction of advanced security analytics for SSL inspection.
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