How Has the Security Analytics Market Evolved Historically and What is its Current Size?
The security analytics market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a significant surge in the size of the security analytics market. The market valued at $17 billion in 2024 is projected to inflate to $19.74 billion in 2025, following a compound annual growth rate (CAGR) of 16.1%.
The historic growth of the market can be tied back to factors such as rising cyber threats, regulatory compliance necessities, expansion of big data and IoT, data violation and incidents, shortfall of skills in cybersecurity, along with the adoption of the cloud.
What Is The Projected Growth Of The Security Analytics Template Market?
The security analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The market for security analytics is set to experience accelerated expansion in the coming years, with projections indicating that it will increase to $35.8 billion by 2029, at a compound annual growth rate (CAGR) of 16.1%.
This robust growth in the forecast period can be ascribed to leaps and bounds in AI and machine learning technology, the adoption of zero trust architecture, the initiation of extended detection and response (XDR), the challenges of securing 5G and IoT, as well as cloud security issues. The forecast period will also see key trends such as AI and machine-learning applications, behavioral analytics, analytics in cloud security, and a burgeoning zero trust security marketplace.
What Are The Key Drivers Fueling Growth In The Security Analytics Market?
The rise in demand for cloud-based solutions is anticipated to fuel the expansion of the security analytics market. Cloud-based solutions, also known as cloud services or cloud computing, are services, applications, or resources that are hosted and made available through the Internet rather than being confined to local servers or personal computers. There's an accelerating trend towards cloud-based solutions due to their inherent benefits such as scalability, adaptability, and cost efficiency. Security analytics often necessitates the analysis of massive amounts of data from numerous sources. Cloud-based solutions offer the required scalability to manage this data effectively, giving organizations the capability to flexibly adjust resources based on need, unshackled by the limitations of on-site infrastructure. For example, in April 2024, according to Eurostat, a government agency based in Luxembourg, it was found that in 2023, 42.5% of businesses in the EU sought cloud computing services, mainly for email, file storage, and office software. This indicates a 4.2% point jump compared to those businesses that utilized cloud computing services in 2021. Consequently, the escalating demand for cloud-based solutions is propelling the growth of the security analytics market.
What Are The Principal Market Segments In The Global Security Analytics Industry?
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
Subsegments:
1) By Platform: Security Information And Event Management (SIEM), User And Entity Behavior Analytics (UEBA), Security Orchestration, Automation, And Response (SOAR), Threat Intelligence Platforms, Endpoint Detection And Response (EDR)
2) By Service: Managed Security Services, Consulting Services, Integration Services, Support And Maintenance Services
3) By Professional Services: Risk Assessment Services, Incident Response Services, Compliance Management Services, Security Training And Awareness Services
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How Are New Trends Impacting The Size Of The Security Analytics Market?
Leading enterprises in the security analytics marketplace are introducing innovative technological platforms such as state-of-the-art XDR and AI-powered platforms to increase their market gains. The platforms incorporate an extensive range of inherent security sensors in their XDR features, ensuring comprehensive security protection across different levels like network, server, cloud, and IoT. To illustrate, Trend Micro Inc., an IT security company based in Japan, unveiled their Trend Vision One platform in June 2023. This next-generation XDR and AI platform utilizes both companion AI and generative AI, all powered by AI to strengthen security operations, boost efficiency, and speed up the detection and response to threats, as well as cyber risk management. The platform, with its advanced features, aims to provide a coherent and integrated strategy to threat detection, investigation, and response, thereby transforming cyber resilience.
Who Are the Key Players In The Security Analytics Market?
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
What Are The Regional Insights Into The Security Analytics Market?
North America was the largest region in the security analytics market in 2024. 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.
