The global security analytics market is estimated to expand at a high CAGR during the forecast period, between 2021 and 2028. Security analytics is a security technique that examines security events and analyses inconsistent behavior across systems and networks to increase situational knowledge and understanding of potential threats within an organization. Security analytics employs big data analytics and machine learning to collect, categorize, and analyze data collected from network devices to detect advanced threats. The demand for security analytics is growing due to rapid advancements in malware and cyber exploits. Network traffic, cloud resources, identity & access management, end-point & user behavior data, non-IT contextual data, business applications, and external threat intelligence sources are some of the data sources used in security analytics.
Market Trends, Drivers, Restraints, and Opportunities
- The growth of the market is driven by rising adoption of bring your own device (BYOD) and the penetration of Internet of Things (IoT) devices.
- Increase in adoption of advanced technologies has propelled the number of cyber-attacks, which in turn, is expected to drive the demand for security analytics.
- Demand for pattern recognition, prevention of onward intrusion, and prioritization of network-based risks with actionable intelligence to prevent data loss drives the market.
- Lack of expertise, automation, and awareness hampers the market.
- The lack of skilled labor for the installation and maintenance of advanced threat detection systems is expected to limit the market.
- The market is expected to grow from high adoption of big data analytics and cloud infrastructure, and increasing awareness regarding the importance of a balanced security approach.
Scope of the report
The report on the security analytics market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
| Attributes | Details |
| Report Title | Security Analytics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Components (Solution [Platform] and Services [Managed Services and Professional Services {Consulting Services and Support & maintenance}]), Deployment modes (On-premises and Cloud), Organization Sizes (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), Verticals (BFSI, Healthcare, Retail & eCommerce, Travel & Hospitality, Media & Entertainment, Telecom & IT, and Others (Government, Automobile, and Education)), Applications (Application Security Analytics, Endpoint Security Analytics, Network Security Analytics, Web Security Analytics, and Others (ICS Security, Cloud Security, Database Security, Content Security)) |
| Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
| Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
| Key Players Covered in the Report | McAfee, LLC; Broadcom, Inc.; IBM Corporation; Cisco Systems, Inc.; FireEye, Inc.; Hewlett Packard Enterprise Development LP; RSA Security LLC; Huntsman Security; Rapid7, Inc.; and Splunk, Inc. |
Security Analytics Market Segment Insights
Services segment is projected to hold a significant market share
Based on components, the security analytics market can be bifurcated into solutions and services. The solutions segment is further classified as platforms. Additionally, the services segment is divided into managed services and professional services. The professional services sub-segment is categorized as consulting services and support and maintenance. The services segment is projected to hold a significant market share in the coming years due to increasing data breaches, rising complexities in managing advanced network infrastructures, and enterprise compliances that are motivating businesses to use consulting and implementation services. Before installing security analytics solutions, cyber security vendors provide a mix of consulting, training, and support services by analyzing the enterprises' existing infrastructures. In 2019, the solutions segment held the largest revenue share, due to growing need to detect complex cyberattacks and improve response time in breach prevention. Furthermore, the increasing need to comply with changing industry and government regulations and standards is driving the segment.
On-premises segment is anticipated to account for a substantial share
In terms of deployment modes, the market can be divided into on-premises and cloud. The on-premises segment is anticipated to account for a substantial share of the market during the forecast period. On-premises solutions give businesses complete control over all systems and platforms that can be managed and handled by their IT staff. Security analytics solutions offer visibility and perform dynamic behavioral analytics on on-premises endpoints.
The large enterprises segment to expand at a high CAGR
On the basis of organization sizes, the security analytics market can be segmented into small and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment to expand at a high CAGR during the forecast period, as these businesses are among the first to implement security analytics solutions. Furthermore, increasing investments by large companies to prevent security breaches and maintain compliance are driving the segment. High occurrence of threats across huge network infrastructures and database servers among large enterprises is driving the segment.
BFSI segment to expand at a substantial pace
Based on verticals, the market can be fragmented into BFSI, healthcare, retail & ecommerce, travel & hospitality, media & entertainment, telecom & it, and others (government, automobile, and education). The BFSI segment is projected to expand at a substantial pace during the forecast period. Rising number of phishing threats and fraudulent in third-party payment integrations, increasing risks associated with accessing mobile banking applications, and growing implementation of stringent regulations that must be met are propelling the segment. Exposure to cyber threats from various applications and the need to effectively manage security audits in real-time, are fueling the BFSI industry to improve their security infrastructure with analytics-driven security solutions.
Network security analytics segment to expand at a rapid pace
On the basis of applications, the security analytics market can be fragmented into application security analytics, endpoint security analytics, network security analytics, web security analytics, and others. The others segment includes ICS security, cloud security, database security, and content security. The network security analytics segment is likely to expand at a rapid pace during the forecast period due to rising demand for behavior-based security analytics to monitor network telemetry and firewall logs and ensure compliance with enterprise policies. Furthermore, increase in the risk of malware remaining undetected in network layers and encrypted network traffic is encouraging enterprises to implement solutions.
North America is expected to dominate the market
In terms of regions, the global security analytics market can be categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market due to growing adoption of security analytics. The US held a dominant share of the market in the region due to increasing investments in cybersecurity solutions, and high demand for security compliance management solutions. Key factors such as increase in the number of data breaches, malware attacks, and advanced persistent threats, and rapid technological adoption, fuel the market in the region.
Segments
By Components
- Solution
- Services
- Managed Services
- Professional Services
- Consulting Services
- Support & Maintenance
By Deployment Modes
By Organization Sizes
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Verticals
- BFSI
- Healthcare
- Retail &eCommerce
- Travel & Hospitality
- Media & Entertainment
- Telecom & IT
- Others (Government, Automobile, and Education)
By Applications
- Application Security Analytics
- Endpoint Security Analytics
- Network Security Analytics
- Web Security Analytics
- Others (ICS Security, Cloud Security, Database Security, and Content Security)
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
Competitive Landscape
Key players in the global security analytics market are McAfee, LLC; Broadcom, Inc.; IBM Corporation; Cisco Systems, Inc.; FireEye, Inc.; Hewlett Packard Enterprise Development LP; RSA Security LLC; Huntsman Security; Rapid7, Inc.; and Splunk, Inc. These players have actively engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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