In terms of revenue, The security analytics market is expected to grow from US$ 12,076.36 million in 2021 to US$ 34,226.73 million by 2028; it is estimated to grow at a CAGR of 16.0% during 2021–2028.
With the advancement in IT infrastructure, the number of unethical hackers and other cyber attackers has increased substantially. The surge in cyber-attacks has been fueled by the rise of the triple extortion ransomware technique used by cyber attackers, stealing sensitive data from organizations and threatening to release it publicly unless the client does not fulfill the desired requirement. Cyber attackers are also targeting organizations’ customers, vendors, or business partners in the same way. For instance, according to Check Points mid-year security report 2021, organizations have experienced a 29% increase in the number of cyber-attacks globally with the dramatic rise in ransomware attacks.
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Security Analytics Market Insights
Growth in Adoption of Advanced Technologies Boost the Demand for Security Analytics Market
The surge in telecomputing has potentially increased the use of vulnerable devices and services, including virtual private networks (VPN), posing a threat to any organization. With the rising use of the Internet, the demand for telecomputing is also increasing in businesses. For instance, in 2021 it has been observed that there were 4.66 billion Internet users present globally (59% of the global population), of which 92.6% (4.32 billion) accessed the internet through mobile devices. Furthermore, during the COVID-19 outbreak, businesses have to follow the government norms of remote working. Thus, the number of virtual private networks (VPNs) increased to facilitate data sharing and connecting all devices together.
Online communication platforms, such as Zoom and Skype, have witnessed a substantial rise across several organizations, making business processes vulnerable against malicious activities and ransomware and phishing attacks, as they are more exposed to open platforms. These situations have led to offering customized and robust analytics-driven security solutions to organizations. For instance, Unify Square, Inc. offers PowerSuite tool that helps manage, amplify, and secure business environment with Zoom analytics solutions. Hence, with the growing adoption of advanced technologies, security analytics systems have also increased, resulting in significant growth in the global security analytics market.
Security Analytics Regional Growth- 2021-2028
The report segments the global Security Analytics market as follows:
- Network Security Analytics
- Endpoint Security Analytics
- Application Security Analytics
- Web Security Analytics
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- Consumer Goods and Retail
- IT and Telecom
- Energy and Utilities
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Security Analytics market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Security Analytics market segments and regions.
Scope of the Report
The research on the Security Analytics market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Security Analytics market on the basis of end user, product type, application, and demography for the forecast period 2021-2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
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The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Security Analytics market during the forecast period, i.e., 2021-2028. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
Major highlights of the report:
- All-inclusive evaluation of the parent market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of market share
- Study of niche industrial sectors
- Tactical approaches of market leaders
- Lucrative strategies to help companies strengthen their position in the market
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