Stratview Research has published a research report on the “Security Analytics” Market segmented By Application Type (Web Security Analytics, Network Security Analytics, End-point Security Analytics, Application Security Analytics, and Others), by Component Type (Solutions and Services [Professional Services and Managed Services]), by Deployment Mode Type (Cloud and On-Premises), by Organization Size Type (Small & Medium-Sized Enterprises and Large Enterprises), by Industry Vertical Type (Government and Defense; Banking, Financial Services, and Insurance; Consumer Goods and Retail; IT and Telecom; Healthcare; Energy & Utilities; and Manufacturing), and by Region. It also covers the COVID-19 Impact Analysis and Forecast to 2027. This market research report provides thorough information on trends, changing aspects, revenue prospects, competitive landscape, and recent developments in the Security Analytics market. This research report by Stratview Research identifies consumer needs and facilitates to meet them more efficiently, effectively, and accurately than the competition.
Market Insights
The security analytics market is likely to witness an impressive CAGR of 18.2% during the forecast period.
This detailed market study, on the market growth potentials and growth opportunities can assist the user in building a clear picture of the Security Analytics trends and prospects. The report provides a wide range[AR1] [NU2] of second and third-party data, which has been analyzed using several analytical tools. In addition to providing insights into the market's potential, it can help investors in identifying the opportunities and scope.
Segments Analysis
Based on the application type, the market is segmented as web security analytics, network security analytics, end-point security analytics, application security analytics, and others. The network security analytics segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Network security analytics collect and analyze different types of network security event information and generate comprehensive security analytic solutions in order to secure the network from advanced threats.
Based on the component type, the market is segmented into solutions and services. The services segment is expected to grow at a higher rate, over the forecast period, owing to the increased rate of security-related instances, demanding organizations to adopt security analytic services in order to address the risks in the constantly evolving global threat landscape. Security vendors assist their customers by offering support for the efficient use and maintenance of security analytic solutions, which constitute the services segment, an integral part of the security analytics market.
Based on the deployment mode type, the market is segmented as cloud and on-premises. The cloud segment is expected to grow at a higher rate, during the forecast period, driven by its advantages such as enabling cost savings by eliminating the need for an Information Technology (IT) staff to manage the software. Monitoring the security system can be done internally or it can be granted to the vendor. As this deployment mode requires low startup costs, it is being used by Small & Medium-Sized Enterprises (SMEs), offering web-based management and enterprise-class protection. Another factor driving the market for cloud-based security analytic solutions is that it provides scalability and flexibility. The Software-as-a-Service (SaaS) model of deployment is generating demand for cloud-based security analytic solutions, further fueling the market growth.
In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA and Canada being the major countries with lucrative growth opportunities. This growth can be attributed to a large number of security breach incidents, leading to fast technological adoptions, and the presence of a number of leading players in North America. Cybersecurity has been identified by the government as the most serious economic and national security challenge in the region. The region has experienced tremendous technological growth owing to the emergence of trends such as Bring Your Own Device (BYOD), the Internet of Things (IoT), and the Internet of Everything (IoE). This major trend has, in turn, led to a rise in next-generation threats, added complexities, and increased concerns and vulnerabilities for the existing technological infrastructure in the region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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