Cloud Deployment to Create Growth Opportunities for the Security Analytics Market in Coming Years

Introduction

The security analytics market is rapidly gaining momentum on account of rising security threats and cyber vulnerabilities. Security analytics solutions and services are used for threat identification, analysis, and mitigation. The emergence of increasingly sophisticated hacking systems, rising security requirements, escalating deployment of public cloud infrastructure by SMEs, and the rising BYOD trend drive the global security analytics market.

SMEs are increasingly deploying security analytics solutions owing to cloud deployment, as these solutions offer low setup and maintenance costs. Splunk, FireEye, and IBM Corporation are the key providers of cloud security analytics solutions. On the flip side, the lack of expertise and difficulties in finding suitable security tools that match a company’s security requirements hinder market expansion.

Segment Analysis

Key Highlights

• By Component: The Services segment dominates the market as security analytics services help enterprises further enhance their security operations.
• By Application: The endpoint security analytics segment is expected to register the highest CAGR is considered to grow with the highest CAGR, as the ubiquity of smartphones, laptops, PCs, tablets, and POS terminals, coupled with rising digitalization and population growth, are generating more endpoints in networks, pacing the way for security analytics solutions.
• By End-Use Industry: The BFSI segment is expected to be the fastest-growing end-use industry in the global security analytics market, as the sector handles colossal volumes of data and is embracing digitalization.
• By Region: Asia-Pacific is estimated to record the most substantial growth, against a backdrop of favorable government policies, economic developments, and the presence of a large number of SMEs.

Competitive Players

Key Players

• Alert Logic (The U.S.)
• Assuria (The U.K.)
• Cisco (The U.S.)
• Exabeam (The U.S.)
• FireEye (The U.S.)
• Forcepoint (The U.S.)
• Gurucul (The U.S.)
• Haystax (The U.S.)
• Hillstone Networks (China)
• Hewlett Packard Enterprises (The U.S.)
• Huntsman Security (Australia)
• IBM Corporation (The U.S.)
• Juniper Networks (The U.S.)
• LogRhythm (The U.S.)
• McAfee (The U.S.)
• Rapid7 (The U.S.)
• RSA (The U.S.)
• Securonix (The U.S.)
• Splunk (The U.S.)
• Symantec Corporation (The U.S.)

Recent Developments

Segmentation

Security Analytics Market Segmentation

By Component

• Solution
• Services

By Application

• Network security analytics
• Application security analytics
• Web security analytics
• Endpoint security analytics

By End-Use Industry

• Banking, financial services, and insurance (BFSI)
• Government and defense
• Consumer goods and retail
• IT and telecom
• Healthcare
• Energy and utilities
• Manufacturing
• Others

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa