Security Analytics Market will Exhibit a Promising 27.18% CAGR Between 2014 and 2023
Industry Outlook and Trend Analysis: The Security Analytics Market was valued as USD 1.73 billion in 2014 and expected to reach USD 15.06 billion by 2023, registering a compound annual growth rate of 27.18%.
For protecting the network framework and appliances attached to it, security analytics are used. Security analytics in basic terms is defined as threat detection or security monitoring by data collection, analysis tools and by aggregation. Numerous numbers of factors have led to the adoption of the security analytics across the globe.
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Furthermore, the security analytics market is experiencing tremendous growth because the top competitors are consolidating the market. As, small and medium sized ventures are increasing across the globe, there is a need for security and safety of their systems and due to which there is a demand of the security analytics in the market.
Regional Outlook and Trend Analysis: North-American region is considered to acquire the largest share of the overall market because of advancement in the technology and early adaptation of the security analytics. Asia-Pacific has been the dominating region due to rise in small and medium sized organization in countries like India, Japan and China. Europe has acquired the second largest share in the overall market across the globe. The Mid-Eastern and African region will grow at a steady pace.
Application Outlook and Trend Analysis:: On the basis of application the security analytics market is divided into network security analytics, web security analytics, application security analytics, endpoint security analytics and others. Among these the Network Security Analytics has witness huge demand in the market due to the increase in the mobile gadgets and adaptation of cloud computing technologies. Additionally, as hackers across the globe try to gain sensitive information’s by breaching the network which is one the prime reason for the rise of the network security analytics. The endpoint security analytics will achieve steady growth in the market due to rise in BYOD, IoT and other devices.
Services Outlook and Trend Analysis: Based on services the security analytics market is classified into managed services and professional services. Furthermore the professional services are divided into consultancy, maintenance & support and training & education. The small and medium sized ventures across the world are in the need of professional as well as managed services.
Deployment Mode Insights: On the basis of deployment mode the security analytics is segregated into on-premises and cloud.Ventures and organizations are rapidly adapting the cloud as well as on premises for security solutions. There is rise in demand for cloud based security especially from the It & Telecom sector because of features such as time efficient and cost efficient. The on-premises are the most prominent deployment mode where data becomes more complicated to carry out business operations.
Organizational Size Outlook and Trend Analysis: Based on the size of the organization the security analytics are categorized into small enterprise, medium enterprises and large enterprises. The security analytics market is expected to witness a huge growth due to the rise in small and medium sized ventures.
End User Outlook and Trend Analysis: The security analytics based on the end users is segregated into government and defense, IT and Telecom, Healthcare, Transportation, Manufacturing, Education and other users. Out of which the largest size of the market is acquired by the government and defense sector and is likely to grow at a higher compound annual growth rate. Furthermore, the IT, Telecom, and Healthcare segment will acquire steady growth in the market over the forecast period.
Competition Insights: The leading developer and provider of the security analytics are Blue Coats Systems, Inc., EMC RSA, Click Security., Juniper Networks, International Business Machines Corporation (IBM), The Hewlett-Packard Company (HP), Arbor Networks, Inc., Cisco Systems, Inc., Fireeye, Inc., and Logrhythm Inc.
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