Anomaly Detection Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-premise), By Component (Solution, Services), By Technology (Big Data Analytics, ML & AI), By End-use (BFSI, Retail), And Segment Forecasts, 2023 - 2030

Anomaly Detection Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-premise), By Component (Solution, Services), By Technology (Big Data Analytics, ML & AI), By End-use (BFSI, Retail), And Segment Forecasts, 2023 - 2030

Anomaly Detection Market Growth & Trends

The global anomaly detection market size is expected to reach USD 14.59 billion by 2030, registering a CAGR of 16.5% from 2023 to 2030, according to the new reports of Grand View Research, Inc. The growing advancements in deep learning and machine learning technologies support the market growth. The traditional statistical approaches are being replaced with modern methods, such as Generative Adversarial Networks (GAN), variational autoencoders (Vaes), and Recurrent Neural Networks (RNNs), thereby enhancing the identification of anomalies across various systems. Furthermore, a rise in the need for large data storage units and real-time data analysis has boosted the adoption of anomaly detection systems. Online algorithms, incremental learning approaches, and sliding window techniques are among the modern batch-based anomaly detection techniques used by various sectors for efficiently streaming data.

In today’s ever-evolving cybersecurity landscape, businesses are facing various cyberattacks, such as malware, ransomware, and other security breaches. It is almost difficult to entirely exclude privacy issues from advanced information systems, including Internet of Things (IoT), and Cyber-Physical systems (CPs). This makes it essential for industries to continuously identify cyber threats and anomalies to track privacy issues and offer security awareness. Cyberattacks on CPs can result in impacting the economical, physical, and environmental safety of the population severely. For instance, in 2021, the attack on the Colonial Pipeline, which is one of the largest and most important oil pipelines in the U.S., disrupted the fuel supply on the East Coast.

Also, in 2022, there was one of the most severely damaging cyberattacks on Germany’s domestic fuel distribution system, thereby mostly destroying hacks observed in the oil industry. Henceforth, to detect and mitigate such cyberattacks at early stages, it has become vital for industries to overcome anomalies, thus fueling market demand. Moreover, with the evolving cybersecurity landscape, there has been a huge demand for behavior-based anomaly detection technology across industries. Organizations need to focus on analyzing the behavior and activities of systems, users, and network entities to identify cyber threats at an early stage. Behavior-based anomaly detection focuses on capturing sophisticated cyber-attacks, including advanced persistent threats and insider threats, thereby securing various systems of organizations. The growing demand for analyzing cyber-physical entities’ behavior is anticipated to propel market growth among regions.

Anomaly Detection Market Report Highlights

• The solution segment accounted for the largest revenue share of 69.0% in 2022 and is anticipated to maintain its dominance over the forecast period owing to the growing need to detect insider threats among organizations, which involve unauthorized activities and malicious actions by internal employees or users
• The cloud segment is expected to observe the highest CAGR of 17.8% during the forecast period. The growing number of applications running on the cloud makes it essential for organizations to adopt anomaly detection for securing their dynamic environment of cloud computing
• The machine learning & artificial intelligence segment is anticipated to witness exceptional growth at a CAGR of 18.7% during the forecast period. The ML & AI technology in anomaly detection enables organizations to detect anomalies in complex fields, such as network traffic, financial transactions, and healthcare data. This detection of threats across complex domains is expected to fuel the segment growth
• The IT & telecom segment is anticipated to register a considerable CAGR of 18.7% over the forecast period owing to the growing need to understand and analyze the pattern of user behavior within the IT & telecom systems. Furthermore, identifying fraudulent financial transactions, theft, and any unauthorized access attempts also enhanced the growth of the market in this segment
• North American accounted for the largest revenue share of over 31.1% in 2022 and is expected to retain its position over the forecast period due to the growing complexity and threats of cyber-attacks, along with the advancements and deployment of IT infrastructure across industries, such as healthcare, BFSI, and retail
• Key players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sales service offerings to ensure periodic maintenance of installed products

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