Security Analytics Market Latest Trends and Analysis Future Growth Study by 2028

The market was estimated to be worth US$ 12,076.36 million in 2021 and is anticipated to reach US$ 34,226.73 million by 2028; it is expected to grow at a CAGR of 16.0% from 2021 to 2028. This is according to our most recent market study, “Security Analytics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Application, Organization Size, and Industry.”

Big data analytics has drawn a lot of attention from both practitioners and researchers over the last several years. The demand for big data analytics technologies is accelerating due to the rapid growth in data volume and complexity caused by increasing cloud computing and mobile data traffic as well as the development and adoption of new technologies like artificial intelligence (AI) and the Internet of things (IoT). These technologies have the power to completely change the way business is conducted. Big data platforms analyse the enormous structured and unstructured data collections with efficiency. Big data analytics technology enables the extraction of useful insights from the huge amounts of structured unstructured data that are available from numerous sources, including the web and social media. Security analytics can collect, classify, and analyse data from network devices to detect sophisticated threats with the use of big data analysis, which opens up attractive potential for the security analytics industry. The adoption of cloud-based platforms has grown as a result of ongoing digital transformation. Their demand has been greatly fueled by the simplicity of implementation and a sizable decrease in deployment costs. End users can use cloud-based platforms in both developed and developing countries thanks to the development of the Internet infrastructure in both advanced and developing economies. With the advent of cloud-based systems, cybercriminals’ capacity to obtain information has increased.

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In order to prevent cyberattacks, security analytics systems are being built in enterprises. For instance, the device-to-cloud cybersecurity company McAfee Corp. announced in May 2021 that it would be expanding its MVISION Extended Detection and Response (XDR) solution by fusing the extensive telemetry of its endpoint security, Secure Access Service Edge (SASE) solution, and threat intelligence solution, powered by MVISION Insights. These connections protect businesses from the most cutting-edge threats while streamlining security operations thanks to unified control and visibility from device to cloud. As a result, the use of security analytics solutions to protect enterprises against cyberattacks has expanded with the advent of cloud-based platforms.

On the basis of component, deployment, application, organisation size, sector, and region, the security analytics market is divided. The market is divided into solution and services based on component. In 2020, the solution segment’s revenue share was higher. The market is divided into on-premises and cloud-based deployments. In 2020, the cloud-based market segment contributed a higher revenue share. Network security analytics, endpoint security analytics, application security analytics, web security analytics, and others make up the security analytics market’s application-based subsegments. Global market leadership in 2020 belonged to the network security analytics segment. The market is divided into small and medium-sized businesses and large businesses according to the size of their organisations. The big enterprises sector dominated the global market in 2020. The BFSI, government, IT and telecom, healthcare, energy and utilities, consumer goods and retail, manufacturing, and others are the different industry segments of the security analytics market. The BFSI industry dominated the global market in 2020. The security analytics market is divided geographically into five major areas: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). 2020 saw the biggest revenue share in North America, followed by Europe and APAC. From 2021 to 2028, the region with the fastest growth is expected to be APAC.

International Business Machines Corporation, The Hewlett Packard Enterprise Company, Cisco Systems, Inc., Broadcom Corporation, Splunk Inc., Huntsman Security, RSA Security LLC, McAfee Corp., SolarWinds Worldwide, LLC, and Rapid7 are a few of the major companies active in the security analytics market.

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