Security Analytics Market Size | Application | Region | Growth Forecast [ 2021-2031]

Security Analytics Market: Overview

The security analytics market has been expected to experience significant growth opportunities in the upcoming years. This market growth is on the back of increasing concentration to maintain regulatory compliance, prevention of onward intrusion, and growing demand to discover patterns. Further, there has been a crucial requirement to prioritize network-based threats along with actionable intelligence in order to avert data losses.

In recent years, security analytics solutions are expanding from rules-based detection to data science methods, for example, artificial intelligence (AI) and machine learning (ML). This is in the response to environmental factors, such as the shortfall of skilled security professionals, infrastructure complexity, and growing data volumes. Effective threat management needs security teams in order to combine the security analytics along with the machine-generated data, which is prevalent in the majority of enterprise environments. Various tools such as user behavior analytics, SIEM, endpoint detection, and network traffic analysis are used to harvest the data. In addition to this, these tools are helpful for detailed analysis in the IT environment. Owing to these factors, the security analytics market has been projected to experience significant growth opportunities in the forthcoming years.

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Security Analytics Market: Key Trends

SIEM has been serving as the prominent security operations platform at the present time. SIEM has undergone significant improvements during the past few years but the underlying architecture has been similar to the previous generations. This architecture has been designed for the collection and processing of raw security data and for the composing of a data-management layer. SIEM has evolved along with log management, with the primary data source being the log files through the collection, processing, and analysis of the logs. Enterprises are now looking for similar data management services for various other security telemetries, for example, vulnerability data, threat intelligence, and NetFlow. Owing to these factors, there has been a significant increase in the demand opportunities in the security analytics market.

The option for the creation and management of the massive on-premise security analytics architecture has been becoming complex to build, requires various day-to-day operations, and expensive maintenance. In order to move security analytics to the cloud gives the ability to throw the cloud-based resources for data collection, processing, and analysis. These services also eliminate the requirement for the expensive and operational overhead that is associated with on-premises infrastructure.

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Security Analytics Market: Competitive Dynamics and Key Developments

The key players operating in the security analytics market have been adopting different strategies to boost growth prospects in the forthcoming years. Collaborations, partnerships, acquisitions, product up-gradation, agreements, and novel product launches are some of the significant strategies that are adopted by the major companies to create growth prospects in the market.

For instance, LogRhythm has released a novel automation module in July 2021. This module provides assistance to different organizations in order to comply with Qatar’s National Cybersecurity Framework.

Cisco has also launched Unite Your Edge that is an IoT-based product. This is helpful in establishing the connection between industrial assets with the 5G routing portfolio.

Some prominent players in the global security analytics market include:

  • IBM
  • RSA Security
  • Cisco
  • Splunk
  • Broadcom
  • McAfee
  • Huntsman Security
  • Hillstone Networks
  • Alert Logic

Security Analytics Market: Regional Assessment 

The security analytics market is spread across different geographical locations across the globe including North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these regions, North America has been predicted to hold the largest share in the market. The growing number of technological advancements in the North America region has been projected to boost growth opportunities in the market. In addition to this, the rising number of players in the security analytics market is estimated to fuel expansion opportunities in the region.  

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Source: Digital Journal

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