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.
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.
The on-premises segment to hold the larger market size during the forecast period
By deployment mode, the security analytics market has been segmented into on-premises and cloud. The CAGR of the on-premises deployment mode is estimated to be the largest during the forecast period. On-premises solutions provide organizations with full control over all platforms and systems, which can be handled and managed by their IT staff. Security analytics solutions provide visibility at on-premises endpoints and perform dynamic behavioral analytics on them. The major providers of on-premises-based endpoint security solutions are IBM, Cisco, and Splunk.
The large enterprises segment to hold the larger market size during the forecast period
The security analytics market has been segmented by organization size into large enterprises and SMEs. The market for large enterprises is expected to register a higher CAGR during the forecast period. These enterprises are early adopters of security analytics solutions. They are faced with the troublesome task of effectively managing security because of the diverse nature of IT infrastructure, which is complex in nature.
Among regions, APAC to hold highest CAGR during the forecast period
APAC is expected to grow at a good pace during the forecast period. Security spending in APAC is increasing significantly due to the ever-growing threat landscape. Traditional methods are no longer adequate to manage and mitigate advanced cyberattacks. Hence, security analytics vendors in this region focus on innovations related to their product line. China, Japan, India, and Singapore have displayed ample growth opportunities in the security analytics market.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the security analytics market.
- By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
- By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40%
- By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering security analytics solutions and services. It profiles major vendors in the global security analytics market. The major vendors in the global 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), Snowflake(US).
Research Coverage
The market study covers the security analytics market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment mode, organization size, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall security analytics market and its sub segments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
