USD 12 billion
Report ID: SQSG45B2006 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 121 | Figures: 77
Global Security Analytics Market size was valued at USD 12 billion in 2021 and is poised to grow from USD 13.94 billion in 2022 to USD 53.86 billion by 2030, growing at a CAGR of 16.2% in the forecast period (2023-2030).
The growing superiority of mature threat actors in conducting threat assaults that go unnoticed using predefined security tools or signature matching technologies is prompting organisations to implement security analytics solutions. Furthermore, the industry is being driven by rising cyber threats such as advanced targeted assaults (ATA) and advanced persistent threats (APT). APTs or ATAs frequently go unnoticed and persist on business networks for extended periods of time, causing catastrophic harm to the network architecture. As a result, the use of security analytics to detect and mitigate such risks is increasing.
US Security Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12 billion
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Based on offerings the global security analytics market is bifurcated into Solutions & Services. Based on application the Security Analytics Market is bifurcated into web security analytics, network security analytics, endpoint security analytics, application security analytics, and others. By organization size, the Security Analytics Market is segmented into SMEs, Large Enterprises. By vertical, the Security Analytics Market is categorized into BFSI telecom & it, retail, healthcare, government & defence, manufacturing, and others. Based on region the global security analytics market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Security Analytics Market Analysis by Type
In terms of offers, the solutions category had the highest revenue share of more than 60% in 2021. The market is classified based on the many types of solutions and services provided by cybersecurity providers to identify, analyze, and diagnose unknown threats by analysing the behaviours of their abnormalities. This was linked to the growing requirement to detect sophisticated intrusions and enhance reaction time in breach prevention. Furthermore, the growing requirement to comply with changing industry and government norms and regulations is driving segment expansion.
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With a market share of more than 40% in 2021, North America led the security analytics industry. Security analytics use is predicted to increase significantly throughout the projection period. In 2021, the United States will have the highest revenue share in the area. Key variables such as the increased frequency of data breaches, malware assaults, and sophisticated persistent threats, along with the region's greatest technology usage, all contribute to regional growth. Furthermore, increased investment in cybersecurity solutions and need for security compliance management solutions are some of the main drivers driving security analytics usage in North America.
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Security Analytics Market Driver
Demand for pattern recognition, prioritising of network-based risks with actionable intelligence to avoid data loss, and prevention of further infiltration
Security Analytics Market Restraint
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The shifting threat landscape and its ramifications across all application areas have given security professionals and suppliers a chance to reinvent their product lines. Established security providers are actively interested in adopting modern technologies like as artificial intelligence, analytics tools, user-behavior analysis, and machine learning to detect Advanced Target Attacks (ATA) events and attack patterns in real-time.
Security Analytics Market Top Players Company Profiles
Security Analytics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Extranet-based team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Security Analytics Market research report also captures the market roadmap with market sizes, revenue forecasts, value chain, market & product trends, price trends and regulations, competitive landscape, leading players, and their key developments, strategy, and profile. The Global Security Analytics Market report aims to provide an overview of Security Analytics Market players with detailed market segmentation by product, application, and geographical region.
According to our analysis, in terms of industrial vertical, the BFSI category held the greatest proportion of more than 20% in 2021. Rising phishing attempts and frauds in third-party payment integrations, increased dangers from using mobile banking applications, and more stringency to comply with regulatory requirements are all contributing to sector growth.
|Market size value in 2021
|USD 12 billion
|Market size value in 2030
|USD 53.86 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Security Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Security Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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