Security Analytics Market is Forecasted to Reach US$ 34.84 Billion in 2028, Says Stratview Research

The global security analytics market is projected to witness a growth rate of 16.15% annually from 2023 to 2028, with an anticipated size of US$ 34.84 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global security analytics market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 34.84 billion
Growth (CAGR): 16.15% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Security Analytics Market:

The global security analytics market is segmented based on application type, component type, organization size type, deployment mode type, industry vertical type, and region.

Based on application type -The security analytics market is segmented as web security analytics, network security analytics, end-point security analytics, application security analytics, and others. The network security analytics segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Network security analytics collect and analyze different types of network security event information and generate comprehensive security analytic solutions in order to secure the network from advanced threats.

Based on component type -The market is segmented into solutions and services. The services segment is expected to grow at a higher rate, over the forecast period, owing to the increased rate of security-related instances, demanding organizations to adopt security analytic services in order to address the risks in the constantly evolving global threat landscape. Security vendors assist their customers by offering support for the efficient use and maintenance of security analytic solutions, which constitute the services segment, an integral part of the security analytics market.

Based on deployment mode type -The market is segmented as cloud and on-premises. The cloud segment is expected to grow at a higher rate, during the forecast period, driven by its advantages such as enabling cost savings by eliminating the need for an Information Technology (IT) staff to manage the software. Monitoring the security system can be done internally or it can be granted to the vendor. As this deployment mode requires low startup costs, it is being used by Small and Medium-Sized Enterprises (SMEs), offering web-based management and enterprise-class protection.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2876/security-analytics-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is estimated to be the largest market during the forecast period, with the USA and Canada being the major countries with lucrative growth opportunities. This growth outlook is majorly attributed to the following-

• This growth can be attributed to a large number of security breach incidents, leading to fast technological adoptions, and the presence of a number of leading players in North America. Cybersecurity has been identified by the government as the most serious economic and national security challenge in the region.
• The region has experienced tremendous technological growth owing to the emergence of trends such as Bring Your Own Device (BYOD), the Internet of Things (IoT), and the Internet of Everything (IoE). This major trend has, in turn, led to a rise in next-generation threats, added complexities, and increased concerns and vulnerabilities for the existing technological infrastructure in the region.
• Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Security Analytics Market Drivers:

Some of the key drivers listed in the report are given below.
Machine Learning and Artificial Intelligence for quick detection: Security analytics solutions have undergone a significant transformation from rule-based detection to higher and more advanced methodologies rooted in data science, including Machine Learning (ML) and Artificial Intelligence (AI). This is in response to growing data volumes, and a lack of skilled professionals. Effective threat management requires a combination of quick and reliable security analytics.
Rising instances of cybercrime: Security breaches are increasing, due to which, organizations require strict solutions for end-to-end security. Security analytics offers endpoint security with user behavior, external threat alerts, etc. to help organizations improve their security. Hence, with the increased usage of technology and the rise in cybercrime rates, the adoption of security analytics solutions is expected to increase.
Increasing awareness: Organizations are gradually realizing the importance of the security analytics market to give their businesses the ability to foresee any threat and take informed decisions. To serve these purposes, many companies are working towards better security systems. For instance, in May 2023, Amazon announced the general availability of Amazon Security Lake (ASL), which is a purpose-built security data lake that enables customers to aggregate, normalize, and store data. It is a fully managed security data lake service offered by Amazon Web Services. It can enhance security operations, change the economics of data storage, promote the adoption of open cybersecurity schema frameworks, facilitate detection engineering, enable new types of analytics, and serve as a foundation for AI models.

Top Companies in the Security Analytics Market:
Stratview Research has identified the following companies as the top market players.
• IBM Corporation, Cisco Systems, Inc.
• Splunk, Inc.
• RSA Security LLC
• FireEye
• HP Enterprise Company
• McAfee LLC
• NortonLifeLock, Inc.
• LogRhythm, Inc.
• Huntsman Security
• Securonix, Inc.
• Gurucul
• Juniper Networks, Inc.
• Hillstone Networks Co Ltd
• Exabeam, Inc.
• Rapid7
• Alert Logic
• Forcepoint, Assuria Ltd, and
• Haystax Technology, Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Security Analytics Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• Identity and Access Management Market: https://www.stratviewresearch.com/2726/identity-and-access-management-iam-market.html

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