Security Analytics Market

Global Security Analytics Market Size, Share, Growth Analysis, By Offerings(Solutions, Services), By Application(Web Security Analytics, Network Security Analytics), By Organization Size(SMEs, Large Enterprises), By Industry Vertical(BFSI, Telecom & IT) - Industry Forecast 2024-2031

Report ID: SQSG45B2006 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 121 | Figures: 77

Global Security Analytics Market News

  • In June 2022, Trellix, the cybersecurity start-up announced a partnership with Hispanic Alliance for Career Enhancement (HACE) to create a comprehensive mentorship and educational program.
  • In June 2022, IBM and SL Green Realty Corp. announced that SL Green will use IBM sustainability tools to assist them to progress their ESG strategy. SL Green will employ Envizi, an IBM Company, software to better evaluate and report on its environmental initiatives, as well as to discover the potential for increased efficiency and to further advance sustainability throughout its broad real estate portfolio.
  • In May 2022, Broadcom announced the acquisition of VMware for Approximately $61 Billion in Cash and Stock. The new VMware is projected to provide customers greater choice and flexibility to address the most complex IT infrastructure challenges.
  • In January 2022, Trellix, a merger of cybersecurity giants McAfee Enterprise and FireEye, is aiming to be the market leader in XDR (extended detection and response) technology by combining applications from the two previously separate companies into an interoperable suite of threat prevention, detection, and response products.
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FAQs

Global Security Analytics Market size was valued at USD 12 billion in 2019 and is poised to grow from USD 13.94 billion in 2023 to USD 53.86 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

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. 'IBM', 'Cisco Systems, Inc.', 'FireEye, Inc.', 'RSA Security LLC (a subsidiary of Dell Technologies Inc.)', 'LogRhythm, Inc.', 'McAfee, LLC (a subsidiary of Intel Corporation)', 'Hewlett Packard Enterprise Development LP (HPE)', 'Rapid7, Inc.', 'Splunk Inc.', 'Securonix, Inc.', 'Symantec Corporation (a subsidiary of Broadcom Inc.)', 'AlienVault, Inc. (a subsidiary of AT&T Cybersecurity)', 'Juniper Networks, Inc.', 'NetIQ Corporation', 'Forcepoint LLC (a subsidiary of Raytheon Technologies Corporation)', 'Proofpoint, Inc.', 'Exabeam, Inc.', 'LogPoint A/S', 'Verint Systems Inc.', 'Trend Micro Incorporated'

Security analytics solutions have progressed beyond rule-based detection to data science techniques such as Machine Learning (ML) and Artificial Intelligence (AI). This is due to environmental variables such as increasing data quantities, infrastructural complexity, and a shortage of experienced security specialists. To effectively manage threats, security teams must integrate security analytics with the wealth of machine-generated data seen in most business contexts. Network traffic analysis, endpoint detection, SIEM, and User Behavior Analytics (UBA) tools collect this data and disclose who is doing what in the IT environment, as well as when and how they are doing it.

Global demand for security analytics solutions is driven mostly by network security applications. Security analysis, unlike other more well-behaved issue fields, does not lend itself readily to statistical analysis. In most situations, programmers lack the essential data required to create an accurate analytical engine.

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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