The security analytics market size to grow from USD 12.0 billion in 2021 to USD 25.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. Various factors such as demand to discover patterns, prioritization of network-based threats with actionable intelligence to avert data losses, and prevention of onward intrusion and increasing focus on maintaining regulatory compliance are expected to drive the adoption of security analytics solutions and services.
The services segment to hold higher CAGR during the forecast period
Based on components, the security analytics is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of security analyticss, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of security analytics is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers improve business operations and cut expenses.
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The endpoint security analytics application to grow at a highest CAGR during the forecast period
The number of connected endpoints is rapidly increasing due to IoT and BYOD trends. Businesses are serving their customers through these connected endpoints that are vulnerable to APTs, making endpoint security the prime objective of organizations. Endpoint security analytics is a process of collecting security information from endpoints, such as smartphones, PCs, laptops, and Point of Sale (POS) terminals, and analyzing this information to detect malicious activities. The endpoint security analytics solution studies the behavior of attack and proactively mitigates the risk to secure endpoints and their data. Advanced attacks cannot be detected by outdated security systems, and this increases the popularity of security analytics solutions. Security analytics solutions are integrated with threat intelligence and user behavior analytics techniques to provide valuable insights into threats and secure the critical infrastructure of organizations. An increasing number of endpoints and BYODs among enterprises, with the rising endpoint attacks and breaches, would drive the demand for endpoint security analytics. The need to uncover security threats hiding in encrypted traffic is expected to further boost the demand for endpoint security analytics.
Security analytics is a security approach that investigates security events and analyzes inconsistent behavior across networks and systems to bring situational awareness and understanding of security risks within organizations. These solutions help protect the critical resources and systems against cyberattacks and breaches to fortify security infrastructure. Security analytics redefines the power of Security Information and Event Management (SIEM) capabilities by providing effective and better network security to predict and mitigate potential cyber threats. With an increase in the number of new security threats, the need for security analytics is growing rapidly across the globe.
Some of the key players operating in the security analytics market include IBM(US), HPE(US), Cisco(US), Broadcom(US), Splunk(US), RSA Security(US), McAfee(US), FireEye(US), Juniper Networks(US), LogRhythm(US), Fortinet(US), Huntsman Security(Australia), Gurucul(US), Securonix(US), Hillstone Networks(US), Exabeam(US), Rapid7(US), Alert Logic(US), Forcepoint(US), Assuria(UK), Haystax(US), Uptycs(US) and Snowflake(US). These security analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the security analytics market.
International Business Machines (IBM) was incorporated in 1911 and is headquartered in New York, US. IBM is one of the leading American computer manufacturers and providers of cloud, cognitive security, research, analytics, consulting, IoT, and IT infrastructure. IBM operates through five segments: Cloud & Cognitive Software, Systems, Global Technology Services, Global Business Services, and Global Financing. The company manufactures and sells computer hardware and software, and offers infrastructure services, consulting services, and hosting services for mainframe computers and nanotechnology. It has a client base of more than 17,000 in more than 130 countries. Further, it has almost 8,000 subject matter experts and more than 3,000 researchers working in 12 labs located across six continents. For more than seven decades, IBM has been building industry-based solutions to real world problems with the help of Watson, its AI platform for business, redefining the future of information technology through its high-quality R&D.
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Cisco was founded in 1984 and is headquartered in California, US. Cisco is one of the global leaders in networking for the internet. The company designs, manufactures, and sells internet protocol-based networking and other products, including hardware, software, and services to the ICT industry. It provides infrastructure platforms and networking technologies, including switching, routing, wireless, and data center products that work together for delivering networking capabilities and data storage and transportation. The company also offers products for unified communications such as Cisco TelePresence and for conferencing. It basically provides security products such as network security, cloud and email security, advanced threat protection, and unified threat management products. It serves businesses of various size, public and private enterprises, and government institutions.
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