USD 12 billion
Security Analytics Market Size, Share, Growth Analysis, By Component(Solutions and Services), By Application(Web Security Analytics, Network Security Analytics, Endpoint Security Analytics, Application Security Analytics and others), By Organization Size(SMEs and Large Enterprises), By Industry Vertical(BFSI, Telecom & IT, Consumer Goods and Retail, Healthcare), By Deployment Mode(Cloud, On-premises), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45B2006 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
121
|Figures:
77
Security Analytics Market Insights
Global Security Analytics Market size was valued at USD 12 Billion in 2022 and is poised to grow from USD 13.94 Billion in 2023 to USD 53.86 Billion by 2031, at a CAGR of 16.2% over the forecast period (2024–2031).
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.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Solutions
Fastest Growth
Solutions
Growth Rate
16.2% CAGR
Country Share for North America Region (%)
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Security Analytics Market Segmental Analysis
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.
Security Analytics Market By Type, (%)
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Security Analytics Market Regional Insights
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.
Security Analytics Market By Region
- Largest
- Fastest
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Security Analytics Market Dynamics
Drivers
Growing Adoption of Cloud-Based Systems and Advanced Technologies
- As businesses are shifting and adopting cloud environments, they are also witnessing novel security threats and challenges. Security analytics technologies are important for protecting and monitoring cloud assets and guaranteeing security of multi-cloud and hybrid environments. Moreover, improvements in technologies like AI, ML, and more allow enhanced precision for automated process and threat detection.
Need for Threat Detection and Response in Real-time
- The increasing demand for threat detection and response competencies in real-time is fueling the implementation of high-tech security analytics systems. Businesses need quick response and insights to deal with the possible threats before they can negatively impact the infrastructure. Moreover, the changing and evolving threat landscape is demanding proactive measures.
Restraints
Integration Complexity and Data Privacy Issues
- Integrating security analytics systems with the current IT infrastructure could be time-consuming and a difficult task. Businesses may witness intricacies in confirming unified integration, compatibility, which could hamper the effective implementation of security analytics systems. Furthermore, advanced security analytics systems need access to massive volumes of personal and sensitive data, which raises issues regarding security and privacy, thus hindering its adoption.
Lack of Skilled Experts
- Though security analytics solutions are witnessing major advancements and progresses, there is a major shortage of professionals with specialization required to manage and deploy these solutions effectively. Lack of skills may hamper successful adoption and use of security analytics technologies, impacting the effectiveness of these tools.
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Security Analytics Market Competitive Landscape
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
- 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)
Security Analytics Market Recent Developments
- In June 2024, Cisco announced novel competencies in Cisco Security Cloud that increased its architecture of security in the world of artificial intelligence. This platform will help customers to witness the balance of power tipping in defenders’ favour.
- In August 2024, IBM launched generative AI competencies to its managed Response and Threat Detection Services used by consulting analysts of IBM to improve and simplify security processes for customers.
- In June 2024, Splunk announced novel security innovations to bolster security operations and threat detection in different data sources. These comprise Splunk Enterprise 8.0, which authorizes teams to manage and alleviate threats effectively and a novel Federated Analytics feature, which studies data straight from where it is preserved for threat hunting and repeated threat detection.
Security Analytics Key Market Trends
- Mobile Credentials and Touch-Free Access Controls: The introduction of mobile access control solutions enable companies to deploy added policies and broader incorporations to enhance on-site security. The credentials stored in mobile phones can be protected behind MFA protections, which are readily present in the new devices and access control can be shared with the current digital scheduling applications.
- Growing Adoption of Behavioral Analytics: Smart behavioral analytics applications are progressing to be the leading and preferred security technologies to precisely study the massive datasets to notify broader security networks. Using ML and AI tools these solutions assist the staff to understand user behavior and use this information to identify fraudulent or crime-associated movements.
Security Analytics Market SkyQuest Analysis
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 2022 | USD 12 Billion |
| Market size value in 2031 | USD 53.86 Billion |
| Growth Rate | 16.2% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Security Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Security Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
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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