The global security analytics market size is expected to reach USD 21.52 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. Increasing demand to accelerate the investigation process for detecting advanced threats in the network layers is a key factor contributing to the market growth. Detecting advanced level threats helps enterprises to reduce the impact of cyberattacks and provides the ability to the security and risk professionals to respond to the threats at a faster rate.
Furthermore,
increasing instances of advanced level cyberattacks across public and private
enterprises are anticipated to boost the market growth. The advanced level
threats are multi-vector and multi-staged in nature that silently attack and
damage all the layers. Thus, it becomes essential for the enterprises to adopt
analytics-based security solutions to detect all the multiple events of threats
occurred at multiple stages.
Furthermore,
demand for advanced detection and threat hunting capabilities among security
and risk professionals is growing at a significant rate. The advanced detection
capabilities include technologies such as machine learning (ML),
predictive analytics, and data science concepts that identify anomaly behavior
of threats. The technologies analyze and filter a vast amount of data collected
from multiple security devices, network layers, audit files, sensors, platforms,
and other traditional security log files in real time. After analyzing, the
solution alerts to the security professionals or security forensics team about
any potential malicious activity, and thus it helps them in threat hunting.
Additionally, as cybersecurity vendors release updated analytics-driven
security solutions with improved threat intelligence and detection techniques,
the adoption of security analytics increases for threat incident mining.
The
security and risk professionals find difficulties in managing compliance
requirements with the changing technological landscape and rising security
risks in organizations. Complying with government regulatory requirements and
industry regulations, such as HIPAA, PCI-DSS, and GDPR, has become a standard
measure for achieving data security among organizations. Failing to comply with
such stringent standards can expose organizations to hefty penalties and cyber
threats. As a result, enterprises are investing in analytics-based security
tools or platforms to complement their existing cybersecurity measures and help
them in meeting compliance requirements easily.
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Security Analytics
Market Report Highlights
- On the basis
of offerings, the solutions segment accounted for the largest market share
in 2019 owing to increase in demand to manage stringent government and
industry compliance requirements, coupled with identification and
detection of advanced cyber threats and hidden malware in networks
infrastructures
- By
application, the network security analytics segment is expected to witness
significant growth in future owing to increasing demand to analyze end
users and application traffic passed across a network layer
- Based on
organization size, the large enterprise segment held the largest revenue
share in 2019 owing to rise in big data across all the network layers,
increasing usage of cloud-based deployments, and BYOD trends, along with
complying industry standards
- By industry
vertical, the healthcare sector is expected to emerge as the fastest
growing segment with a CAGR of 16.7% over the forecast period
- North America
held the largest market share in 2019 and is anticipated to dominate the
market over the forecast period.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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