Security Analytics Market Business Growth, Current Trends, Rules, Challenge, and Interaction, Application Details 2031

The Security Analytics market is anticipated to develop at an amazing 20.2% CAGR. The sector expected to hold the biggest market share is network security analytics. On the other hand, a 23.6% CAGR growth in demand for cloud security analytics is anticipated over the next ten years. The global market is anticipated to witness growth in revenue to over US$ 64.5 Bn by 2031.

The COVID-19 pandemic has created a huge challenge for all businesses around the globe to continue operating despite massive shutdowns of offices. However, change in work culture has affected the IT security. Organizations have witnessed increased risk of cyber-attacks. Disruptions to business operations in the form of cyber-attacks, data breaches, and network attacks are major challenges for organizations in any sector.

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Furthermore, organizations are realizing the significance of security analytics to give businesses the ability to foresee security threats using such solutions. Its value has increased during the pandemic as there are threats that could destroy the infrastructure of a business and its systems. Therefore, most organizations are adopting advanced security analytics solutions.

Will Increasing Awareness Regarding Security Threats Drive Market Growth?

Due to sudden rise in cybercrimes and data theft activities, businesses have begun to concentrate on better security approaches for securing information deployed on the cloud as well as on-site, and improving the internal security framework. Companies have experienced cyber-attacks such as phishing, DDoS attacks, and social engineering attacks.

Moreover, large organizations worldwide are taking initiatives to implement security analytics solutions for their business applications deployed on the cloud as well as on premise.

Country-wise Insights

Why is Demand for Security Analytics Surging across the U.S.?

According to Persistence Market Research market analysis, overall security analytics spending in the U.S. alone is likely to increase at the rate of 14.8% from 2021 to 2031.

The U.S. is anticipated to remain the largest market for security analytics in North America, owing to strong presence of solution providers such as FireEye, HPE, Cisco Systems, Splunk, and IBM Corporation, among others. This is attributed to growing demand for advanced security analytics across various industry verticals.

Furthermore, growing demand for cloud-based security solutions is one of the major factors that will result in high adoption of security analytics solutions in the country over the forecast period.

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Why are Security Analytics Solution Providers Eyeing China?

The market for security analytics in China is likely to accelerate at a CAGR of 18.9% by 2031. Increasing adoption of IoT applications, mobile applications, BYOD, and cloud-based deployments among enterprises in the country is triggering an increase in advanced level threats.

For instance, according to the GSMA (Global System for Mobile Communications), China is the world's largest IoT market with approximate 64% of the 1.5 billion global cellular connections, which include growing mobile IoT licensed LPWAN (low-power wide-area network) technologies. As such, rising concerns regarding data security is influencing enterprises to adopt security analytics solutions in the country.

Competitive Landscape

Companies providing security analytics solutions are aiming at product innovation and strategic partnerships with other vendors to improve their product portfolios while addressing the demand of an expanding customer pool

Companies

IBM Corporation
Cisco Systems, Inc.
Hewlett Packard Enterprise
Broadcom Inc.
Sumo Logic, Inc.
SecureWorks Corp.
Juniper Networks

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Categorization of Security Analytics Industry Research

Solution

Security Analytics Software
Cloud-based
On-premise
Services
Professional Services
Security Analytics Consulting
Integration & Deployment
Support & Maintenance
Managed Security Analytics Services

Application

Network Security Analytics
Endpoint Security Analytics
Application Security Analytics
Cloud Security Analytics
Others

Enterprise Size

Security Analytics for Small and Medium Enterprises (SMEs)
Security Analytics for Large Enterprises

Industry

Security Analytics for BFSI
Security Analytics for IT & Telecom
Security Analytics for Government & Defense
Security Analytics for Retail
Security Analytics for Healthcare
Security Analytics for Manufacturing
Security Analytics for Education
Others

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