Security Analytics Market (Deployment Type - On-premise, and Cloud; Component - Solutions, and Services; Application - Web Security Analytics, Network Security Analytics, Application Security Analytics, End Point Security Analytics, and Others; End User - BFSI, Government, IT & Telecom, Energy & Utilities, Retail & Commerce, Manufacturing, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report ongoing study by Infinium Global Research on the security analytics market provides an in-depth analysis of segments and sub-segments in the global as well as regional security analytics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional security analytics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global security analytics market. According to the report, the global security analytics market is projected to grow with a healthy CAGR over the forecast period of 2021-2027.

Market Insight

Security Analytics is the combination of algorithms, analytical processes, and software used for early warning and detection of threats to IT systems, networks, and machines. The IT sector has grown tremendously in recent times, penetrating every industry that has its applications. With the rapid growth and advancement In the IT sector, the room for threats and security lapse is also huge. In an instant, the IT system can be infected with malware, viruses, and Trojan horses that can critically affect the operations of any enterprise. Thus, businesses around the world are adopting security analytics and solutions to safeguard themselves from such potential attacks and other threats. Additionally, the number of security analytics products, solutions, and services offered by companies is growing rapidly. Thus, further boosting the scope and penetration of the market.

Cyber security and data security threats have seen a sharp rise over the years. According to IT Chronicles, ransomware attacks around the world have risen by 400% on year on year basis. The expected losses by ransomware attacks to businesses around the world are accounted to total USD 20 billion. IT is expected that over 300,000 malware is produced every day, designed for stealing data. Also, over USD 1.5 trillion of the amount is generated annually by cybercrimes. The ever-evolving cybersecurity threats are able to paralyze an entire nation in an instance, risking its national security. In 2020, more than 20% of businesses around the world experienced cyber-attacks. Thus, the spending on cybersecurity is expected to reach USD 133 billion around the world by 2022. Thus, this factor is driving the market. New government regulations for cybersecurity are being introduced by governments around the world. Such as General Data Protection Regulation in European Union. In the 2021 G7 summit establishment of effective cybersecurity laws and framework was one of the agenda points. Thus, compliance with new government laws becomes mandatory for enterprises which are further expected to boost the growth of the market. The only restraint the market faces is the lack of skilled manpower to sustain the growth of the market. Security analytics is not just software-based but human analysts are also required to provide effective insights, as the market is emerging so is the skilled manpower with the right set of skills and knowledge. New opportunities are expected to arise as big data analytics, deep learning and artificial intelligence are further evolving. The integrations of these technologies with security analytics solutions are expected to make them more precise and robust.

North America is expected to dominate the market. Cybercrimes have grown across North America, According to IT Chronicles, there are over 4000 cyber attacks every day in the USA. Other countries in the region such as Canada also face a similar problem. Email is the most prominent mode of attack. Thus, enterprises and consumers around the region are adopting cybersecurity measures including security analytics. Also, the emergence of security analytics startups is boosting the growth of the market in the region. Asia-Pacific is expected to be the fastest-growing region in the market. The growing IT sector and huge presence of internet users in the region are expected to boost the market.  

Segment Covered

The report on the global security analytics market covers segments such as deployment type, component, application, and end user. On the basis of deployment type, the sub-markets include on-premise, and cloud. On the basis of component, the sub-markets include solutions, and services. On the basis of application, the sub-markets include web security analytics, network security analytics, application security analytics, end point security analytics, and others. On the basis of end user, the sub-markets include BFSI, government, it & telecom, energy & utilities, retail & commerce, manufacturing, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corporation, Cisco Systems, Inc., NETSCOUT Systems Inc.,  Hewlett Packard Enterprise Development LP, McAfee Corporation, Microsoft Corporation, Fortinet, Inc., Splunk Inc., Rapid7 LLC, and Exabeam, Inc..

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of security analytics market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.