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.
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.).
More Information@ https://www.marketresearchfuture.com/reports/security-analytics-market-4211
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According to a research report "Security Analytics Market by Application (Web Security, Network Security, Endpoint Security, and Application Security Analytics), Component, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, the security analytics market size is projected to grow from USD 7.8 billion in 2019 to USD 18.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period.The major factors driving the growth of the security analytics market include the increasing focus to maintain regulatory compliance and demand to discover threat patterns, prioritization of network-based threats with actionable intelligence to avert data losses, and prevention of onward intrusion.Browse 104 market data Tables and 56 Figures spread through 190 Pages and in-depth TOC on "Security Analytics Market - Global Forecast to 2024"Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1026By deployment mode, the cloud segment to hold a larger market size during the forecast periodCloud deployment of security analytics solutions allow users to deploy security analytics solutions without the need of Information Technology (IT) staff to manage the software.
The task of monitoring the security system is granted to the vendor or can be done internally.
The cloud deployment mode is being used by Small and Medium-sized Enterprises (SMEs) to reap the benefits of security systems that require low startup costs.
The growing number of breaches in the government and public utilities sector has increased the need for security analytics solutions to combat advanced threats.
Attackers are targeting the government sector to breach the sensitive information regarding the government administration, departmental activities, and prime security intelligence.
Next-generation firewalls, Intrusion Prevention Systems (IPS), anti-malware gateways, and endpoint security applications are capable of protecting data from known threats, but attackers have innovated many techniques to bypass these products and access the confidential data.
