USD 12 billion
Report ID:
SQSG45B2006 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
121
|Figures:
77
Security Analytics Market size was valued at USD 13.94 Billion in 2023 and is poised to grow from USD 16.2 Billion in 2024 to USD 62.59 Billion by 2032, growing at a CAGR of 16.2% during the forecast period (2025-2032).
The security analytics market will register remarkable progress driven by the growing risk of cybersecurity, the expanding volume of data produced by businesses, digital transactions, and different IoT devices. The market is also propelled by the emergence of advanced technologies like big data analytics, artificial intelligence, and machine learning. They enable greater accuracy for threat detection, predictive analytics, and automated responses. Nonetheless, there are a few factors that affect the adoption and expansion of the market like the high cost of advanced security analytics. Costly purchase, deployment, and maintenance of these solutions may impede its adoption by the SMEs, thus limiting market growth. Still, the market is opportune to factors like growing advancements in machine learning and artificial intelligence and increasing popularity and acceptance of cloud-based security systems.
Global Market Size
USD 12 billion
Largest Segment
Solutions
Fastest Growth
Solutions
Growth Rate
16.2% CAGR
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The Global Security Analytics Market is segmented by Component, Application, Organization Size, Industry Vertical, Deployment Mode, and Region. Based on Component, the market is segmented into Solutions and Services. Based on Application, the market is segmented into Web Security Analytics, Network Security Analytics, Endpoint Security Analytics, Application Security Analytics, Others. Based on Organization Size, the market is segmented into SMEs and Large Enterprises. Based on Industry Vertical, the market is segmented into BFSI, Telecom & IT, Consumer Goods and Retail, Healthcare, Government & Défense, Manufacturing, Energy and Utilities, Others. Based on Deployment Mode, the market is segmented into Cloud, On-Premises. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Component
Based on component, the solutions segment held a majority share of the market in the past years and will continue to lead over the forecast period owing to its exhaustive protection offered. Security analytics systems like SIEM, Network Behavior Analysis, and threat Intelligence Platforms deliver exhaustive defence by offering threat detection, monitoring in real-time, and responsive competencies. Businesses are actively implementing these systems to resolve the growing complexities of security efficiently. The segmental growth is also fueled by its integration with the existing systems, enabling businesses to improve their present security approaches without disturbing their systems.
On the other hand, the services segment is projected to grow significantly over the forecast period owing to customization and expertise. Services like integration, managed services, and consulting offer expert guidance and customized solutions, assisting businesses to enhance and implement these tools in a better way. Moreover, professional services offer the best help related to installation, integration, and current management, guaranteeing that businesses get the best from their investments.
Analysis by Industry Vertical
Based on industry vertical, the BFSI segment registered for a majority market share in the previous years and is projected to dominate in future as well owing to the increasing number of cyber threats. The BFSI industry frequently experiences a growing number of cyberattacks, comprising phishing, fraud, and ransomware. To address these attacks, security analytics are vital. Moreover, security breaches in the said sector may have major financial consequences, comprising reputational damages and financial losses. This notably fuels investment for stronger solutions to manage risks effectively.
The government & defense segment is anticipated to witness notable growth in the coming years owing to the complex threat environment. Defense and government sectors witness a complex and growing number of cyber threats like terrorism-associated attacks or state-sponsored risks, which need strong analytics for better response and detection. These sectors also deal with highly sensitive and confidential data associated with national security, thus demanding improved security measures.
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Geographically, North America is anticipated lead over the forecast period, continuing its dominance from the past years supported by the growing cybersecurity threats, essentially in the United States. The country witnesses the leading number of cyberattacks because of its economic activity and huge digital infrastructure. The constant threat of cyberattacks is fueling the need for better security analytics systems. The region is also prominent for its improved technological infrastructure and the growing adoption rate is novel technologies. Businesses in the nation are early users of security modernizations, comprising machine learning and AI-based analytics. The prominent market players operating in North America are Fortinet, Cisco, IBM, Broadcom, Splunk, Palo Alto Networks, and more.
Asia Pacific is observed to be the fastest-growing region among others owing to growing awareness and funding and speedy digital transformation. Expanding awareness of such risks and the significance of guarding digital assets is resulting in rising investments in security tools. Businesses in the region are identifying the need for improved analytics. Moreover, Asia-Pacific nations are witnessing speedy digital transformation with rising implementation of digital solutions in different sectors. This growth is increasing the need for strong security measures, fueling the market growth in the region.
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Drivers
Growing Adoption of Cloud-Based Systems and Advanced Technologies
Need for Threat Detection and Response in Real-time
Restraints
Integration Complexity and Data Privacy Issues
Lack of Skilled Experts
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The global security analytics market is a highly competitive global market driven by a large number of international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment.
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 Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing cybersecurity threats and rising investment and awareness of the increasing number of threats are driving the market growth. However, the complex integration and speedily evolving threat landscape are hampering market growth. North America is projected to lead the market due to early adopters of advanced technologies, presence of most players, and the availability of skilled personnel. Moreover, the growing integration with IoT devices and a great emphasis on threat intelligence are some opportunities for the growth of the security analytics market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 13.94 Billion |
Market size value in 2032 | USD 62.59 Billion |
Growth Rate | 16.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | 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) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Security Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Security Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG45B2006
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