Global Security Analytics Market - 2022-2029

Global Security Analytics Market - 2022-2029
Market Overview

The Security Analytics Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 17.10% during the forecast period (2022-2029).

Security analytics uses data analytics and machine learning to collect, categorize and analyze data collected from network devices to detect sophisticated threats. Network traffic, endpoint & user behavior data, non-IT contextual data, cloud resources, business applications, identity & access management and external threat intelligence sources are all examples of data sources used in security analytics. Security analytics is becoming more important due to continuous improvements in malware and cyber-attacks.

Enterprises are increasingly using security analytics solutions due to growing superiority in threat attacks used by mature threat actors that go unnoticed utilizing predefined security tools or signature matching technologies. Furthermore, the industry is driven by rising cyber threats such as advanced targeted attacks (ATA) and advanced persistent threats (APT).

APTs or ATAs frequently go unnoticed and remain on enterprise networks for longer periods, causing significant harm to network infrastructure. As a result, security analytics to detect and mitigate such risks increases.

Market Dynamics

Growing demand to detect superior threat attacks using predefined security tools or technologies is encouraging enterprises to adopt security analytics solutions

Growing demand to detect superior threat attacks using predefined security tools or technologies is encouraging enterprises to adopt security analytics solutions

Security analytics solutions include advanced technologies from rule-based detection to data science methodologies like Machine Learning (ML) and Artificial Intelligence. The advancements are due to increasing data volumes, infrastructure complexity and a scarcity of trained security specialists.

Therefore, security teams have started integrating security analytics with the quantity of machine-generated data seen in most organizational contexts to manage threats effectively. Network traffic analysis, endpoint detection, SIEM and User Behavior Analytics (UBA) are tools that collect this data and disclose who is doing what in the IT environment and when and how they are doing it.

Furthermore, aggregating, analyzing and monitoring security-related data across a business network are all capabilities of security analytics solutions. Such features also aid security and risk professionals in detecting, investigating and monitoring risks in real-time. RSA Security LLC, for example, provides a security analytics platform that includes complete security monitoring, malware analytics, compliance reporting and incident investigation.

Furthermore, advancements in security analytics tools such as machine learning (ML) and artificial intelligence (AI) allow enterprise security teams to remain proactive and discover aberrant end-user behavior and IT system vulnerabilities.

In addition, the amount of cybercrime and security breaches is increasing as technology progresses and enterprises use these new technologies. On the other hand, security analytics combines endpoint security with user behavior, proof of compliance, external threat alerts, cloud & network traffic monitoring and access & identity analytics to assist enterprises in moving forward with technology adoption while ensuring security.

As a result of the rising use of technology and the rise in cybercrime rates, the adoption of security analytics solutions is predicted to expand, propelling the market forward.

Lack of enough knowledge among end-users about advanced threats hampers the growth of security analytics

APTs (advanced persistent threats) are numerous and tremendously growing across the globe. They target specific network vulnerabilities and exploit them to access the company network. As targeted attacks have become more sophisticated, hundreds of new zero-day threats have arisen. However, the attackers' methods and techniques for infiltrating an organization's network stay unnoticed, increasing threat severity.

APTs have grown in importance over the last five years and are now the company's most serious security threat. The volume, breadth and complexity of advanced threats are always increasing. Advanced cyber-attacks are persistent, high-profile, financially driven and even state-sponsored. Cybercriminals breach an organization's network using advanced attack techniques, stealing critical data and putting the company's reputation in danger.

Organizations have a significant knowledge gap regarding the nature of targeted assaults and how to protect against them, which is hurdling the growth of security analytics. Thus, to defend the network infrastructure, a holistic strategy is now required in terms of awareness and knowledge of such advanced threats and attacks, which can increase end-users knowledge about both the advanced threat and required solution in less time.

COVID-19 Impact Analysis

The pandemic has made it extremely difficult for businesses worldwide to continue operating despite major office and other facility closures. The changing nature of work, on the other hand, has had an impact on IT security. As a result, organizations can witness an increase in cyber-attacks.

Furthermore, businesses realize the need for the security analytics industry to use analytics software to predict security threats. Its worth has skyrocketed during the COVID-19 pandemic, as there are dangers that might damage a company's infrastructure and systems.

Following COVID-19, businesses have invested heavily in security analytics to detect a cyber threat that could harm their brand or worsen their precarious situation, leading to positive growth of security analytics during the COVID-19 outbreak.

Segment Analysis

The global security analytics market is segmented on component, deployment mode, organization size, application, end-user and region.

Network security analytics is being driven by rising demand for behavioral-based security analytics to monitor network telemetry and firewall logs and comply with organizational standards

The global security analytics market is segmented into web security analytics, network security analytics, endpoint security analytics, application security analytics and others based on application. In 2021, the network security analytics category obtained a market share of xx percent. The industry is driven by rising demand for behavioral-based security analytics to monitor network telemetry and firewall logs and comply with organizational standards.

Furthermore, the increased risk of malware that remains undetected in network layers and encrypted network traffics is pressuring businesses to implement solutions. Moreover, traditional network security analytics solutions are based on the Bayesian probability theory, which states that by capturing every element of a problem and mathematically calculating possible outcomes, it is possible to predict with high accuracy the likelihood of something happening; due to this network security analytics solutions are getting more reliable.

Bayesian models have conceptual domain alignment and the ability to reason on incomplete data. In contrast, machine learning has the raw strength and ability to handle large amounts of data required by current networks, growing far beyond traditional applications.

Geographical Analysis

Growing cyber crimes and increasing adoption of advanced technology for data security have escalated the growth of the market in the region

North America has shown the largest number of cyber incidents worldwide and, thus, has shown tremendous demand for the security analytics market to grow in the region. For instance, nearly 60 million Americans have been affected by identity theft.

Thus growing cybercrimes have encouraged U.S. government to spend US$15 billion on cybersecurity-related activities in 2019, up 4% over the previous year, creating huge opportunities for data security to grow in the region in the forecast period.

North America is the most expensive place for a small or medium-sized business (SMB) to experience a data breach compared to other regions. There were 1.23 million employer businesses in Canada as of December 2019. Small businesses accounted for 1.2 million (97.9%), medium-sized enterprises for 22,905 (1.9%) and large businesses for 2,978 (0.2%).

Ontario and Quebec are home to nearly half of Canada's small employer enterprises (440,306 and 249,685, respectively). Western Canada has many small enterprises, with British Columbia leading the way with 187,252 in December 2019. Nova Scotia has the smallest enterprises in the Atlantic area, at 29,876. Furthermore, end-user industries have been pioneers and early adopters of analytics solutions to stay ahead of the competition in other regions. The early adoption has aided organizations and small businesses build large datasets and infrastructure to support the proactive use of security analytics.

Competitive Landscape

The global security analytics market is highly competitive with local and global key players. Key players contributing to the market's growth are IBM, HPE, Cisco, Broadcom, Splunk, McAfee, FireEye, Juniper Networks, LogRhythm, Huntsman Security, Gurucul, Exabeam, Rapid7, Alert Logic, Assuria, Uptycs, Snowflake, among others.

The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the security analytics market.
• In July 2021, LogRhythm launched a new automation module to help organizations rapidly comply with Qatar’s National Cybersecurity Framework.
• In April 2021, Huntsman Security announced the launch of its Enterprise SIEM V7.0, which is specially designed to Integrate Mitre Attack Intelligence into SOC workflows with its live attack heatmap.

Cisco Systems Inc

Overview: The company provides its services in education, transportation, cities and communities, energy, government, retail, financial services, healthcare, manufacturing, sports and entertainment. The company’s portfolio segmented its products and services into different categories: technology, products by business type, services resources, solutions and end-of-life info. Cloud services are provided under the solutions segment. The company provides services in Africa, Europe, North America, Asia-Pacific, Latin America and the Middle East and has sales offices in more than 95 countries. The company has engaged more than 25,800 employees in the technical, sales and technical fields and the company sells its products through sales partners and direct sales.

Product Portfolio: Cisco Security Analytics and Logging: Cisco Security Analytics and Logging offers scalable central log management for streamlining information technology operations, forensics, threat investigation and detecting advanced threats by identifying suspicious traffic patterns in customers' network environments using metadata generated from network traffic.

Key Development
• In June 2021, Cisco Systems Inc announced the launch of Unite Your Edge. The product is based on IoT, which helps connect industrial assets with a 5Grouting portfolio.

Why Purchase the Report?
• Visualize the global security analytics market segmentation by component, deployment mode, organization size, application, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the security analytics market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global security analytics market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global security analytics market report would provide approximately 77 market data tables, 77 figures and 220 pages.

Target Audience 2022
• Service Providers/ Buyers
• Automotive
• Research Laboratory
• Oil and Gas Company
• Manufacturers
• Energy & Utilities Companies
• Distributors