Increasing complexity of cyber threats has created added concern for the organizations to detect and response to a variety of security threats to their data. As a result, data security has become a vital issue of preventive control for many organizations across the globe. Advanced security analytics solutions help the organizations in identification and examination of the security breaches and threats in an effective and effortless manner. These advanced solutions are sophisticated than traditional security systems, which is the biggest USP for the security analytics market. Growing demand and advancing technology in the industry are creating better business opportunities for the existing and potential businesses. According to the experts, the industry will continue making steady progress in near future.
Security Analytics Industry Overview
Modern day security analytics systems collect analyze and normalize data generated within the network. These systems continue screening all the applications and users connected to the network and keep track of the expected as well as suspicious behavior. This screening process helps the businesses track minute changes and vulnerabilities. Rising adoption of information technology and rapid rate of globalization are driving the organizations from across the world to store vital business data on virtual platforms. This fact gives way to considerate security threats from malicious programs, frauds and insider attacks. Increasing number of security breaches is a serious cause of concern for the small as well as large organizations, which are increasingly adoption the solutions offered by security analytics market.
According to the experts, global security analytics market is segmented based on the types solutions, applications, industries and geography.
- Types: Application security analytics, network security analytics, mobile security analytics, data and information security analytics, physical security analytics, network security analytics and others
- Applications: Small and medium businesses or SMBs and large enterprises
- Industries: BFSI, power and utilities, manufacturing, consumer goods, retail, telecom and information technology, research, education, logistics, transportation, healthcare and energy
- Geography: North America, Latin America, Middle East and Africa, Europe and Asia Pacific
Wide range of threats, compliance risks, large volume of attacks are some of the major restrains for the security analytics market. More and more sophisticated attacks are reducing the effectiveness of the available safety solutions, which is a major problem for the industry. However, manufacturers in the market are developing advanced technologies to tackle these troubles, which is a good sign for the market. According to the market research reports, the industry is poised to grow at an expected CAGR of over 10% during the forecasting period of four to five years. From 2013 to 2018, the market is expected to grow from $1.96 billion in 2013 and become worth more than $3.22 billion by the end of 2018.