Security analytics is a combination of big data analytics and security intelligence. This provides analytics-driven threat intelligence on advanced threat landscape. The global security analytics market is driven by factors such as rise in sophistication, level of threats and security breaches, and stringent regulations and compliance imposed by the regulatory bodies and government pertaining to cybersecurity. Owing to the integration of big data analytics with security intelligence to combat APTs, the demand for security analytics solutions in emerging markets such as APAC and MEA is expected to grow rapidly. MarketsandMarkets forecasts the global security analytics market to grow to USD 9.38 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.1% during the forecast period.
Many organizations across various sectors have been adopting security analytics to enhance real-time behavior analytics and maintaining the secure network infrastructure. However, there are two specific aspects of the security industry that make security analytics a perfect fit for it. Firstly, the growing advanced persistent threats (APTs), such as ransomware, malware & viruses; and secondly, rapid digitization, rising cloud-based services, and adherence to regulatory compliances. Thus, organizations are adopting security analytics to get valuable insights that would protect the critical business applications from advanced threats and vulnerabilities.
The connected devices are increasing due to IoT and BYOD trends. The security of these devices from advanced threats is becoming a prime objective of organizations. Thus the endpoint security analytics segment is expected to grow at the highest CAGR during the forecast period.
The need of organizations to comply with different regulatory compliances across the globe is driving the growth of managed services in security analytics market. The managed services in the service segment is expected to grow at the highest CAGR during the forecast period.
The BFSI vertical is witnessing growth in advanced cyber threats causing harm to valuable assets of the sector. Thus the security analytics market in BFSI vertical is expected to grow at highest CAGR during the forecast period.
The region-specific market analysis includes industry trends, market potential, and market forecast on the basis of applications, service, deployment mode, organization size, and industry verticals. The market expects a rapid growth in various emerging regions such as APAC, MEA, and Latin America. The North American region is expected to have the largest market share for the next five years, followed by Europe. APAC is expected to be the fastest-growing region in the security analytics market during the forecast period.
Globally, security analytics adoption is increasing due to the rise in advanced threats causing data breaches. Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Hewlett Packard Enterprise (U.S.), EMC RSA (U.S.), and FireEye, Inc. (U.S.) are key vendors offering security analytics solutions across globe.
