Security Analytics Market Growth Opportunities & Key Players 2024-2033

The security analytics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Security Analytics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The security analytics market size has grown rapidly in recent years. It will grow from $14.60 billion in 2023 to $17.00 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%.  The growth in the historic period can be attributed to increasing cyber threats, regulatory compliance requirements, big data and iot growth, data breaches and incidents, skills gap in cybersecurity, and cloud adoption.

The security analytics market size is expected to see rapid growth in the next few years. It will grow to $30.80 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%.  The growth in the forecast period can be attributed to ai and machine learning advancements, zero trust architecture adoption, extended detection and response (XDR), 5G and IoT security challenges, and cloud security challenges. Major trends in the forecast period include ai and machine learning integration, behavioral analytics, cloud security analytics, and zero trust security market.

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Scope Of Security Analytics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Security Analytics Market Overview
Market Drivers –
The increasing need for cloud-based solutions is expected to propel the growth of the security analytics market going forward. Cloud-based solutions, also known as cloud computing or cloud services, refer to services, applications, or resources that are hosted and delivered over the Internet rather than being located on local servers or personal computers. Cloud-based solutions are experiencing a rapid rise in popularity due to their inherent advantages in scalability, flexibility, and cost-effectiveness. Security analytics often involve processing large volumes of data from diverse sources. Cloud-based solutions provide the scalability needed to handle this data effectively, allowing organizations to dynamically scale resources up or down based on demand without the constraints of on-premises infrastructure. For instance, in December 2021, according to Eurostat, a Luxembourg-based intergovernmental organization, 41% of EU enterprises used cloud computing in 2021, primarily for hosting their e-mail systems and storing files in electronic form, an increase of 5 percentage points compared to 2020. In the EU, large businesses adopted cloud computing at a rate of 72% in 2021, an increase of 7 percentage points from 2020. Therefore, the increasing need for cloud-based solutions is driving the growth of the security analytics market.

Market Trends –
Major companies operating in the security analytics market are innovating new technological platforms, such as next-gen XDR and AI capabilities platforms, to gain profitability in the market. The platform’s XDR capabilities include the widest range of native security sensors to provide thorough security protection at different tiers, such as network, server, cloud, and IoT. For instance, in June 2023, Trend Micro Inc., a Japan-based IT security company, launched Trend Vision One, a next-gen XDR (extended detection and response) and AI (artificial intelligence) capabilities platform. It provides companion AI and generative AI driven by AI to enhance security operations, increase efficiency, and quicken threat detection, response, and cyber risk management. With its cutting-edge capabilities, the platform is intended to offer a unified and integrated approach to threat detection, investigation, and response, revolutionizing cyber resilience.

The security analytics market covered in this report is segmented –
1) By Component: Platform, Service, Professional Services
2) By Application: Web Security Analytics, Network Security Analytics, Endpoint Security Analytics, Application Security Analytics, Others Applications
3) By Verticals: Banking, Financial Services, and Insurance (BFSI), Retail and eCommerce, Media and Entertainment, Travel and Hospitality, Telecom and Information Technology, Healthcare, Others Verticals

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Regional Insights –
North America was the largest region in the security analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the security analytics market are The International Business Machines Corporation, Cisco Systems Inc., Palo Alto Networks Inc., Fortinet, Akamai Technologies, Nortonlock life, F5 Networks Inc., Micro Focus International PLC, Check Point Software Technologies, CrowdStrike, FireEye, RSA Security, Rapid7, Forcepoint, Darktrace, SentinelOne, LogRhythm, Trustwave, Alert Logic Inc., Exabeam, CyberArk, Arbor Networks Inc., Securonix, Splunk, Darktrace Limited

Table of Contents
1. Executive Summary
2. Security Analytics Market Report Structure
3. Security Analytics Market Trends And Strategies
4. Security Analytics Market – Macro Economic Scenario
5. Security Analytics Market Size And Growth
…..
27. Security Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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