Security Analytics Market Size, Share, Growth and Forecast 2032

Security Analytics Market Insights

According to a report from Zion Market Research, the global Security Analytics Market was valued at USD 10.41 Billion in 2023 and is projected to hit USD 54.25 Billion by 2032, with a compound annual growth rate (CAGR) of 20.13% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Security Analytics Market industry over the next decade.

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Security Analytics Market Overview

Security analytics are the processes comprising software, analytical process and algorithms that collect data and detects threats to the IT network systems. The security analytics detects carry out detection, diminution, analysis of potential threats and targeted attacks is carried out. In addition to this, it also carries out forensic analysis of the cyber-attack to understand attack methods and system vulnerabilities. Security analytics is crucial for all types of organizations to protect their information from increasing cyber-attacks and advancements in other vulnerabilities like malware and data breaches.

The emerging trend of BYOD (Bring Your Own Device) And IOT (Internet of Things) is getting popular among all industries. To protect organizational data and ensure secure working of the employee’s companies and opting for security analytics.

The companies in security analytics are adopting to new cloud based working and remote working practices to ensure uninterrupted functioning. Companies are ensuring employee safety by strictly implementing COVID-19 guidelines like social distancing and hygiene standards. Security analytics vendors are adopting mixed work practices. The pandemic had caused internet penetration among various industries, leading to a rise in security vulnerabilities across the globe. This rise in cyber vulnerabilities is supporting the market growth of security analytics.

Security Analytics Market Growth Factors

The increasing technological developments and increasing complexity of cyber-attacks are majorly driving the security analytics demand. The upsurge in the number of vulnerabilities is majorly contributing to the market demand for security analytics. The increasing focus of businesses and organizations to protect the organizational data and financial loss with growing need to understand the pattern of cyber-attack is driving the market growth. The increasing digitalization among various industries like banks and financial institutes and others across the globe is creating extensively driving the market demand.  End-user industries like governments and defense have all time stable demand for security analytics.

The emerging trend of cloud computing and Internet of Things in business organizations and the implementation of government regulations are also contributing to the market demand of the security analytics market. The concurrence of big data analytics with network security intelligence and rising integrated security services are estimated to provide the opportunity for the market growth.

Security Analytics Market: Segment Analysis Preview

This is attributable to rising demand from end users to understand the cyber-attack method and detail analysis of cyber breach. The system also performs forensic analysis of cyber-attack to analyze the vulnerabilities. Network security analytics provide advance cyber intelligence by collecting data from end-points like cloud resources, network traffic, non-IT contextual data, end-point & user behavior data, business applications, identity & access management.

This data is utilized by the network security system to detect the malware, viruses and malicious action and diminish the threat before it enters the network security. The technological advancements are leading to more advance malware and complex cyber-attacks which bypasses traditional security systems. In order to ensure safety of network and data, end-user industries like banking and finance institutes, government, defense, IT and telecom, healthcare, retail and others are adopting to network security services.

This is attributable to rising adoption of cloud-based security systems by small and medium-sized enterprises, owing to lower cost of systems. The cloud-based security systems do not require IT professionals for maintenance of the systems, they can be operated internally and hence incurs less cost of application. This low start-up cost is leading to the upsurge in adoption for cloud-based security analytics. Cloud computation is vulnerable to cyber-attacks like viruses, data intrusion, data breaches, and data piracy. To ensure the safety of data on the cloud, the security analytics is widely being accepted by businesses to detect and reduce the potential threats. Cloud deployment is cost-effective and reduces capital expenditure. The reduced security administration work due to automated security is estimated to drive the market dominance of the cloud-based deployment segment. 

Security Analytics Market: Report Scope

Security Analytics Market Regional Analysis

This is attributable to the rising incidents of data breaches; malware attacks and advance technological threats are contributing to the demand for security compliance in the region. The upsurge in technological advancements leading to complicated cyber threats are growing the need for security analytics in the region. The dominance of the region is attributed to the presence of key market players like IBM Corporation, Cisco Systems Inc., McAfee, Juniper Networks, FireEye, Forcepoint and others makes the region more competitive.

The growing digitalization among various industries in the region are powering the market of security analytics. The emergence of Bring your own device and Internet of Things in the region is providing the lucrative opportunities for the security analytics market development. The growing demand for security compliance and data safety is estimated to drive the growth of the region.

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This surge is due to the surge in network development in countries like China, India, Australia, South Korea, Japan, and Hong Kong. These countries have a massive number of small and medium-sized enterprises, these enterprises are adopting network security systems for data safety and interrupted service. Among other countries, India and China are majorly contributing to the rise in network activities and are estimated to be the fastest growing markets for security analytics in the forecast period. The region is witnessing rising adoption of IoT applications, mobile applications and cloud-based deployments, leading to bolster the demand for the security analytics in the region. The growing awareness about the applications of security analytics and prevent suffering from financial losses due to cyber-attacks are encouraging adoption of security analytics by various end user industries.

Security Analytics Market Key Market Players & Competitive Landscape

Some of key players in security analytics market are:

• Cisco Systems Inc.
• Hewlett-Packard Enterprise
• IBM Corporation
• McAfee
• FireEye Inc.
• Assuria (UK)
• AT&T Cybersecurity
• Arbor Networks Inc.
• Juniper Networks
• Forcepoint

The global security analytics market is segmented as follows:

By Component

• Solution
• Services

By Deployment

• Cloud Based
• On-Premises

By Organization Size

• Small And Medium Enterprises
• Large Enterprises

By Application

• Network Security Analytics
• Web Security Analytics
• Application Security Analytics
• End-Point Security Analytics
• Others

By Service

• Professional Services

• Training And Education
• Consulting And Support
• Maintenance

• Managed Services.

By End-User

• Government And Defence
• Consumer Goods and Retail
• BFSI
• Healthcare
• IT And Telecom
• Energy And Utilities
• Education
• Manufacturing
• Transportation
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa