Jun 24, 2020   SOURCE: PR NewsWire

Security Analytics Market Size Worth $21.52 Billion by 2027 | CAGR: 14.6%: Grand View Research, Inc.

SAN FRANCISCO, June 24, 2020 /PRNewswire/ -- The global security analytics market size is expected to reach USD 21.52 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. Increasing demand to accelerate the investigation process for detecting advanced threats in the network layers is a key factor contributing to the market growth. Detecting advanced level threats helps enterprises to reduce the impact of cyberattacks and provides the ability to the security and risk professionals to respond to the threats at a faster rate.

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Key suggestions from the report:

    --  On the basis of offerings, the solutions segment accounted for the
        largest market share in 2019 owing to increase in demand to manage
        stringent government and industry compliance requirements, coupled with
        identification and detection of advanced cyber threats and hidden
        malware in networks infrastructures
    --  By application, the network security analytics segment is expected to
        witness significant growth in future owing to increasing demand to
        analyze end users and application traffic passed across a network layer
    --  Based on organization size, the large enterprise segment held the
        largest revenue share in 2019 owing to rise in big data across all the
        network layers, increasing usage of cloud-based deployments, and BYOD
        trends, along with complying industry standards
    --  By industry vertical, the healthcare sector is expected to emerge as the
        fastest growing segment with a CAGR of 16.7% over the forecast period
    --  North America held the largest market share in 2019 and is anticipated
        to dominate the market over the forecast period.

Read 110 page research report with ToC on "Security Analytics Market Size, Share & Trends Analysis Report By Offerings (Solutions, Services), By Application, By Organization Size, By Industry Vertical, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/security-analytics-market

Furthermore, increasing instances of advanced level cyberattacks across public and private enterprises are anticipated to boost the market growth. The advanced level threats are multi-vector and multi-staged in nature that silently attack and damage all the layers. Thus, it becomes essential for the enterprises to adopt analytics-based security solutions to detect all the multiple events of threats occurred at multiple stages.

Furthermore, demand for advanced detection and threat hunting capabilities among security and risk professionals is growing at a significant rate. The advanced detection capabilities include technologies such as machine learning (ML), predictive analytics, and data science concepts that identify anomaly behavior of threats. The technologies analyze and filter a vast amount of data collected from multiple security devices, network layers, audit files, sensors, platforms, and other traditional security log files in real time. After analyzing, the solution alerts to the security professionals or security forensics team about any potential malicious activity, and thus it helps them in threat hunting. Additionally, as cybersecurity vendors release updated analytics-driven security solutions with improved threat intelligence and detection techniques, the adoption of security analytics increases for threat incident mining.

The security and risk professionals find difficulties in managing compliance requirements with the changing technological landscape and rising security risks in organizations. Complying with government regulatory requirements and industry regulations, such as HIPAA, PCI-DSS, and GDPR, has become a standard measure for achieving data security among organizations. Failing to comply with such stringent standards can expose organizations to hefty penalties and cyber threats. As a result, enterprises are investing in analytics-based security tools or platforms to complement their existing cybersecurity measures and help them in meeting compliance requirements easily.

Grand View Research has segmented the global security analytics market on the basis of offerings, application, organization size, industry vertical, and region:

    --  Security Analytics Offerings Outlook (Revenue, USD Million, 2016 - 2027)
        --  Solutions
        --  Services
    --  Security Analytics Application Outlook (Revenue, USD Million, 2016 -
        2027)
        --  Web Security Analytics
        --  Network Security Analytics
        --  Endpoint Security Analytics
        --  Application Security Analytics
        --  Others
    --  Security Analytics Organization Size Outlook (Revenue, USD Million, 2016
        - 2027)
        --  SMEs
        --  Large Enterprises
    --  Security Analytics Industry Vertical Outlook (Revenue, USD Million, 2016
        - 2027)
        --  BFSI
        --  Telecom & IT
        --  Retail
        --  Healthcare
        --  Government & Defense
        --  Manufacturing
        --  Others
    --  Security Analytics Regional Outlook (Revenue, USD Million, 2016 - 2027)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  U.K.
            --  Germany
        --  Asia Pacific
            --  China
            --  India
            --  Japan
        --  Latin America
            --  Brazil
            --  Mexico
        --  MEA
    --  List of Key Players of Security Analytics Market
        --  Cisco Systems, Inc.
        --  Exabeam
        --  FireEye, Inc.
        --  Forcepoint
        --  Fortinet, Inc
        --  IBM
        --  Juniper Networks, Inc.
        --  LogRhythm, Inc.
        --  McAfee, LLC
        --  Palo Alto Networks, Inc.
        --  Securonix
        --  Splunk Inc.
        --  SumoLogic
        --  Broadcom (Symantec Corporation)

Find more research reports on Network Security Industry, by Grand View Research:

    --  Cyber Security Market- Cyber security and defense against online threats
        undertake greater significance in today's digital changing landscape. It
        has become vital amid organization due to rapidly increasing frauds,
        cybercrimes, risk, threats, and vulnerabilities.
    --  Mobile Security Market- Increase in the adoption of smartphones,
        tablets, laptops, and other portable devices both for personal and
        professional use is a key factor driving the overall market.
        Furthermore, rise in the bring your own device (BYOD) trend among
        enterprises has increased security challenges for both the organization
        and employees.
    --  Identity As A Service Market- Increasing demand for cloud-based security
        services and solutions owing to the concerns pertaining to data security
        is anticipated to boost the adoption of Identity as a Service (IDaaS)
        solutions. Organizations are required to provide access to the employees
        working remotely while maintaining security compliance and thus need
        identity and access solutions.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.