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  • Security Analytics Market Growth Analysis | 2023-2028

    Security Analytics Market Growth Analysis | 2023-2028

    Security Analytics Market Growth Analysis | 2023-2028
    Report code - SR1995 Delivery - 2 Weeks
    Security Analytics Market Size, Share, Trend, Dynamics, Forecast, & Growth Analysis - See more...

    Market Insights

    The security analytics market was estimated at USD 14.13 billion in 2022 and is likely to grow at a CAGR of 16.15% during 2023-2028 to reach USD 34.84 billion in 2028.

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    What are security analytics?

    Security analytics refers to the process of identifying, protecting, and troubleshooting potential security threats. It collects and analyzes data from various sources like network traffic, logs, and user activities using advanced analytics solutions such as machine learning, artificial intelligence, and behavioral analysis to provide valuable insights.

    Security analytics aim to identify risks and provide vital and reliable information to organizations so that they can respond to security threats, reduce the risk of data breaches, and improve overall security conditions.

    Security Analytics Market Highlights

    Market Size in 2022

    USD 14.13 billion

    Market Size in 2028

    USD 34.84 billion

    Market Growth (2023-2028)

    16.15% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    The major factors driving the growth of the security analytics market are-

    • Machine Learning and Artificial Intelligence for quick detection – Security analytics solutions have undergone a significant transformation from rule-based detection to higher and more advanced methodologies rooted in data science, including Machine Learning (ML) and Artificial Intelligence (AI). This is in response to growing data volumes, and a lack of skilled professionals. Effective threat management requires a combination of quick and reliable security analytics.
    • Rising instances of Cybercrime – Security breaches are increasing due to which, organizations require strict solutions for end-to-end security. Security analytics offers endpoint security with user behavior, external threat alert, etc. to help organizations improve their security. Hence, with the increased usage of technology and the rise in cybercrime rates, the adoption of security analytics solutions is expected to increase.
    • Increasing awareness – Organizations are gradually realizing the importance of the security analytics market to give their businesses the ability to foresee any threat and take informed decisions. To serve these purposes, many companies are working towards better security systems. For instance, in May 2023, Amazon announced the general availability of Amazon Security Lake (ASL), which is a purpose-built security data lake that enables customers to aggregate, normalize, and store data. It is a fully managed security data lake service offered by Amazon Web Services. It can enhance security operations, change the economics of data storage, promote the adoption of open cybersecurity schema frameworks, facilitate detection engineering, enable new types of analytics, and serve as a foundation for AI models.

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    Segments Analysis

    By Application Type

    Based on the application type, the market is segmented as web security analytics, network security analytics, end-point security analytics, application security analytics, and others. The network security analytics segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Network security analytics collect and analyze different types of network security event information and generate comprehensive security analytic solutions in order to secure the network from advanced threats.

    By Component Type

    Based on the component type, the market is segmented into solutions and services. The services segment is expected to grow at a higher rate, over the forecast period, owing to the increased rate of security-related instances, demanding organizations to adopt security analytic services in order to address the risks in the constantly evolving global threat landscape. Security vendors assist their customers by offering support for the efficient use and maintenance of security analytic solutions, which constitute the services segment, an integral part of the security analytics market.

    By Deployment Mode Type

    Based on the deployment mode type, the market is segmented as cloud and on-premises. The cloud segment is expected to grow at a higher rate, during the forecast period, driven by its advantages such as enabling cost savings by eliminating the need for an Information Technology (IT) staff to manage the software. Monitoring the security system can be done internally or it can be granted to the vendor. As this deployment mode requires low startup costs, it is being used by Small and Medium-Sized Enterprises (SMEs), offering web-based management and enterprise-class protection.

    Another factor driving the market for cloud-based security analytic solutions is that it provides scalability and flexibility. The Software-as-a-Service (SaaS) model of deployment is generating demand for cloud-based security analytic solutions, further fueling the market growth.

    Regional Insights

    In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA and Canada being the major countries with lucrative growth opportunities. This growth can be attributed to a large number of security breach incidents, leading to fast technological adoptions, and the presence of a number of leading players in North America. Cybersecurity has been identified by the government as the most serious economic and national security challenge in the region.

    The region has experienced tremendous technological growth owing to the emergence of trends such as Bring Your Own Device (BYOD), the Internet of Things (IoT), and the Internet of Everything (IoE). This major trend has, in turn, led to a rise in next-generation threats, added complexities, and increased concerns and vulnerabilities for the existing technological infrastructure in the region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

    Security-Analytics-Market-Regional-Insights

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Application Type

    • Web Security Analytics
    • Network Security Analytics
    • End-Point Security Analytics
    • Application Security Analytics
    • Others

    By Component Type

    • Solutions
    • Services

    By Deployment Mode Type

    • Cloud
    • On-Premises

    By Organization Size Type

    • Small and Medium-Sized Enterprises (SMEs)
    • Large Enterprises

    By Industry Vertical Type

    • Government and Defense
    • Banking, Financial Services, and Insurance
    • Consumer Goods and Retail
    • IT and Telecom
    • Healthcare
    • Energy and Utilities
    • Manufacturing
    • Others

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Security-Analytics-Market-Segmentation

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    Key Players

    Major players in the market are-

    • IBM Corporation, Cisco Systems, Inc.
    • Splunk, Inc.
    • RSA Security LLC
    • FireEye
    • HP Enterprise Company
    • McAfee LLC
    • NortonLifeLock, Inc.
    • LogRhythm, Inc.
    • Huntsman Security
    • Securonix, Inc.
    • Gurucul
    • Juniper Networks, Inc.
    • Hillstone Networks Co Ltd
    • Exabeam, Inc.
    • Rapid7
    • Alert Logic
    • Forcepoint, Assuria Ltd, and
    • Haystax Technology, Inc.

    Recent News & Developments

    July 2022: CrowdStrike has introduced Falcon OverWatch Cloud Threat Hunting, an innovative cloud-based threat hunting service. This service empowers security teams to consistently detect and address advanced and covert threats originating from, and persisting within, cloud environments. It assists in pinpointing vulnerabilities that pose a threat to sensitive data, aiding onsite analysts in their mission.

    JUNE 2022: Ensono Announces New Partnership with ATPCO to Achieve Operational Excellence and Commercial Savings- Ensono, a prominent technology consultant and managed service provider (MSP), has officially unveiled its strategic partnership with ATPCO, a pivotal platform within the global airline industry serving as the primary source for airline retailing and pricing data. In this collaboration, ATPCO has selected Ensono for its top-notch Mainframe-as-a-Service, disaster recovery, and private cloud solutions, enabling the attainment of superior operational performance. These services will grant ATPCO the utmost technical and commercial adaptability to align with both its current and future business requirements.

    JULY 2021: LogRhythm Launches Automation Tools for Rapidly Complying with Qatar Cybersecurity Framework- LogRhythm, the driving force behind modern security operations centers (SOCs), has launched a novel automation module designed to assist organizations in swiftly aligning with Qatar's National Cybersecurity Framework. This module offers prebuilt content, facilitating the real-time detection of areas where compliance falls short through predefined searches and analytics that enable instant activity analysis. Demonstrating adherence to regulations becomes effortless with the use of preconfigured reports that can be scheduled or generated on demand.

    JUNE 2021: Cisco Unveils New 5G Industrial Router Portfolio to Unite the IoT Edge- Cisco (NASDAQ: CSCO) has introduced an innovative lineup of Catalyst industrial routers, designed to amplify the influence of enterprise networks at the edge while ensuring the essential qualities of flexibility, security, and scalability crucial for the triumph of IoT initiatives. This portfolio, equipped with 5G capabilities, empowers organizations to conduct large-scale connected operations and offers a range of management tools tailored for both IT and operations teams. The integrated architecture fosters a seamless partnership between IT and operations, streamlining their implementations from the core enterprise to the edge.

    APRIL 2021: Huntsman Security’s Enterprise SIEM V7.0 integrates Mitre ATT&CK® intelligence into SOC workflows with its live ATT&CK® heatmap- Huntsman Security has introduced the most recent version of its SIEM Cyber Security Analytics solution, available in both Enterprise and Managed Security Service Provider (MSSP) variants. Notably, this release incorporates an innovative live MITRE ATT&CK® heatmap. This enhancement allows security analysts to maintain real-time awareness of detected ATT&CK® techniques as they traverse a network. For the first time, analysts can actively engage with a dynamic ATT&CK® heatmap, empowering SOC teams to harness MITRE ATT&CK® intelligence for enhanced attack data visualization. This enables the swift and efficient identification of attack targets, origins, and the security vulnerabilities confronting their organization.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Security Analytics Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the application types and by component type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Security analytics refers to the process of identifying, protecting, and troubleshooting potential security threats. It collects and analyzes data from various sources like network traffic, logs, and user activities using advanced analytics solutions such as machine learning, artificial intelligence, and behavioral analysis to provide valuable insights.

    The security analytics market was estimated at USD 14.13 billion in 2022.

    The security analytics market is likely to reach USD 34.84 billion in 2028.

    The security analytics market is likely to witness an impressive CAGR of 16.15% during the forecast period.

    Some of the key players in the market are IBM Corporation, Cisco Systems, Inc., Splunk, Inc., RSA Security LLC, FireEye, HP Enterprise Company, McAfee, LLC, NortonLifeLock, Inc., LogRhythm, Inc., Huntsman Security, Securonix, Inc., Gurucul, Juniper Networks, Inc., Hillstone Networks Co Ltd, Exabeam, Inc., Rapid7, Alert Logic, Forcepoint, Assuria Ltd, and Haystax Technology, Inc.

    North America is estimated to be the leadiing region in the market.

    The demand to discover patterns, prioritization of network-based threats with actionable intelligence to avert data losses, prevention of onward intrusion, and increased focus on regulatory compliance are the major factors driving the market growth.

    The network security analytics segment held the largest share of the market in 2022 and is expected to remain dominant in the market.