Security Analytics Market

Global Market Study on Security Analytics: Demand for Cloud Security to Remain High Over Coming Years

Security Analytics Market Segmented By Security Analytics Solution and Services having Application such as Network Security Analytics, Endpoint Security Analytics, Application Security Analytics and Cloud Security Analytics

Market Snapshot

As per Persistence Market Research’s industry analysis on security analytics, global revenue is expected to top US$ 10.2 Bn in 2021. The market is projected to register impressive growth at 20.2% CAGR through 2031.

Security analytics industry research indicates 18% y-o-y growth in 2021. Network security analytics is set to enjoy the largest market share. On the other hand, demand for cloud security analytics is forecast to surge at 23.6% CAGR over the decade.

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Companies

  • IBM Corporation
  • Cisco Systems, Inc.
  • Hewlett Packard Enterprise
  • Broadcom Inc.
  • Sumo Logic, Inc.
  • SecureWorks Corp.
  • Juniper Networks
  • FireEye, Inc.
  • Securonix
  • Gurucul
  • Alert Logic
  • LogRhythm
  • Exabeam
  • Haystax
  • Assuria Ltd.

Key Insights Covered in Security Analytics Industry Survey:

  • Market Estimates and Forecast 2016-2031
  • Key Drivers and Restraints Impacting Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Security Analytics Demand and How to Navigate
  • Recommendation on Key Winning Strategies

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Security Analytics Demand Analysis from 2016-2020 Compared to Market Outlook for 2021-2031

The global security analytics market size expanded at 15.7% CAGR from 2016 to 2020, and is estimated to be valued at US$ 10.2 Bn in 2021.

The COVID-19 pandemic has created a huge challenge for all businesses around the globe to continue operating despite massive shutdowns of offices. However, change in work culture has affected the IT security. Organizations have witnessed increased risk of cyber-attacks. Disruptions to business operations in the form of cyber-attacks, data breaches, and network attacks are major challenges for organizations in any sector.

Furthermore, organizations are realizing the significance of security analytics to give businesses the ability to foresee security threats using such solutions. Its value has increased during the pandemic as there are threats that could destroy the infrastructure of a business and its systems. Therefore, most organizations are adopting advanced security analytics solutions.

The global market is anticipated to witness growth in revenue from US$ 8.7 Bn in 2020 to over US$ 64.5 Bn by 2031.

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Will Increasing Awareness Regarding Security Threats Drive Market Growth?

Due to sudden rise in cybercrimes and data theft activities, businesses have begun to concentrate on better security approaches for securing information deployed on the cloud as well as on-site, and improving the internal security framework. Companies have experienced cyber-attacks such as phishing, DDoS attacks, and social engineering attacks.

Moreover, large organizations worldwide are taking initiatives to implement security analytics solutions for their business applications deployed on the cloud as well as on premise.

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Country-wise Insights

Why is Demand for Security Analytics Surging across the U.S.?

According to Persistence Market Research market analysis, overall security analytics spending in the U.S. alone is likely to increase at the rate of 14.8% from 2021 to 2031, from a market value of over US$ 3.48 Bn in 2021.

The U.S. is anticipated to remain the largest market for security analytics in North America, owing to strong presence of solution providers such as FireEye, HPE, Cisco Systems, Splunk, and IBM Corporation, among others. This is attributed to growing demand for advanced security analytics across various industry verticals.

Furthermore, growing demand for cloud-based security solutions is one of the major factors that will result in high adoption of security analytics solutions in the country over the forecast period.

Why are Security Analytics Solution Providers Eyeing China?

The market for security analytics in China is likely to accelerate at a CAGR of 18.9% from 2021 and 2031, from a market value of around US$ 614.1 Mn in 2021.

Increasing adoption of IoT applications, mobile applications, BYOD, and cloud-based deployments among enterprises in the country is triggering an increase in advanced level threats.

For instance, according to the GSMA (Global System for Mobile Communications), China is the world’s largest IoT market with approximate 64% of the 1.5 billion global cellular connections, which include growing mobile IoT licensed LPWAN (low-power wide-area network) technologies. As such, rising concerns regarding data security is influencing enterprises to adopt security analytics solutions in the country.

How are Security Analytics Sales Faring across India?

The market in India is anticipated to witness growth in revenue from around US$ 387.4 Mn in 2020 to US$ 7.64 Bn by 2031. Demand for cloud security analytics has increased rapidly in major economies of South Asia and Pacific, including India, Indonesia, and Australia & New Zealand, which has created key potential growth opportunities for market participants.

Increasing cyber-attacks has resulted a rise in research & development investments by governments from different countries across South Asia & Pacific. Also, the digital transformation trend in enterprises across the country has presented lucrative opportunities for major security solutions providers.

Furthermore, the Indian government is concentrating on creating a stringent framework to cope with potential cyber-threats. Increasing number of data breaches across the country has resulted in the need for creating a secure framework for all government organizations.

Along with investments in research & development, the government is appointing chief information security officers in order to recognize and document the security needs that arise with each technical innovation.

Category-wise Insights

Why is Network Security Analytics Witnessing Huge Popularity?

On the basis of application, the market is segmented into network security, endpoint security, application security, cloud security, and others. The network security segment dominated the market with the largest share of 32.1% in 2020.

Network security analytics is a technique used to secure a network from various threats by collecting and analyzing security event information to generate a comprehensive security analytics solution. Increase in demand for behavioral-based security analytics to monitor network traffic, network logs, and comply with enterprise policies is boosting segment growth.

What are the Prospects for the Sales of Security Analytics Solutions to SMEs?

In terms of enterprise size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. The SMEs segment is expected to register a higher CAGR of 21.3%, while also creating an incremental opportunity of US$ 25.42 Bn through 2031.

Large enterprises dominated the market with major share of 58.2% in 2020. Major factor attributed to this domination is increasing instances of threats across large network infrastructures and database servers. Also, most large enterprises are increasing investments in the security domain to prevent data breaches and cyber-attacks.

Small & medium enterprises (SMEs) is anticipated to be the fastest-growing segment over the forecast period. Major factor responsible for this growth is increasing adoption of digital applications and cloud-based servers that involve high risks of data breach. This is resulted in growing adoption of security analytics solutions among SMEs across the globe.

Why Does the BFSI Sector Hold a Major Market Share in Security Analytics?

The BFSI segment is expected to hold a significant share in the market, having accounted for US$ 1,953 Mn in 2020, and is poised to increase at a considerable CAGR of 15.3% over the next ten years.

Segment growth is majorly attributed to growing risks from accessing mobile banking applications, and increase in the number of frauds and phishing attacks in third-party payment integrations.

The financial service sector has taken great pace in adapting to a growing digital world, but also has opened itself up to a number of IT security threats. In comparison to other industries, in the financial sector, brands need their customers to have a reliable, stable service to gain trust. Also, banks use private and public cloud for various banking applications, which also increases the risk of cyber-attacks.

This results in increasing need for security solutions over the cloud to reduce associated risks. Exposure to threats from different applications and increasing need to manage security audits efficiently in real time are encouraging banking and financial institutes to upgrade their security architecture with updated analytics-driven security solutions.

What is the Impact of COVID-19 on Security Analytics Demand?

The COVID-19 crisis has impacted almost all sectors across the globe, with disrupted supply chains, country-wide lockdowns, and organizations exploring the possibility of long-term and even permanent remote working. Disruptions from 2020 have changed the way the world approached 2021 and beyond. IT service companies have also experienced a slowdown in growth during this financial year.

The COVID-19 pandemic has impacted every sector, and due to social distancing norms, organizations are transforming toward digitalization to ensure their safety. Restrictions implemented to curb the spread of the virus have compelled organizations to reconsider the future of work and what it might look like for employees.

Dependence of various industry organizations on IT and other digital technologies has tremendously increased during the pandemic. Moreover, organizations are also open to exploitation by cybercriminals. Therefore, this has driven demand for security analytics, further bolstering market growth.

According to Persistence Market Research’s study, demand for security analytics solutions is estimated to rise from 15.6% in 2019 to 18% in 2021.

Competitive Landscape

Companies providing security analytics solutions are aiming at product innovation and strategic partnerships with other vendors to improve their product portfolios while addressing the demand of an expanding customer pool.

Introduction of new products and strategic partnerships are key in this landscape.

  • In May 2020, Broadcom Inc. and HCL have extended the previously signed partnership, in 2018. As part of the partnership, the majority of Broadcom's Symantec enterprise consulting team will transition to HCL, which include expertise across web security services, endpoint security, data loss prevention, and cloud security.
  • In May 2021, Sumo Logic acquired DFLabs to expand Cloud SIEM and Automation for Hybrid Cloud Customers and Managed Service Providers. The combination of Cloud SIEM built on the Continuous Intelligence Platform and DFLabs will offer the customers various sizes and maturities with comprehensive cloud-native security intelligence solutions that are built for digital businesses leveraging modern applications, architectures and multi-cloud infrastructures.

Security analytics providers are also focusing on entering into partnerships with technology and digital solution providers to target new innovations within the market. This strategy helps companies broaden their geographic reach with additional service portfolios.

Security Analytics Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • South Africa

Key Market Segments Covered

  • Solution
  • Application
  • Enterprise Size
  • Industry
  • Region

Key Companies Profiled

Report Coverage

  • Market Forecasts
  • Vendor Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Categorization of Security Analytics Industry Research

Solution

  • Security Analytics Software
    • Cloud-based
    • On-premise
  • Services
    • Professional Services
      • Security Analytics Consulting
      • Integration & Deployment
      • Support & Maintenance
    • Managed Security Analytics Services

Application

  • Network Security Analytics
  • Endpoint Security Analytics
  • Application Security Analytics
  • Cloud Security Analytics
  • Others

Enterprise Size

  • Security Analytics for Small and Medium Enterprises (SMEs)
  • Security Analytics for Large Enterprises

Industry

  • Security Analytics for BFSI
  • Security Analytics for IT & Telecom
  • Security Analytics for Government & Defense
  • Security Analytics for Retail
  • Security Analytics for Healthcare
  • Security Analytics for Manufacturing
  • Security Analytics for Education
  • Others

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  • Is this research conducted by Persistence Market Research?

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  • What research methodology is followed by Persistence Market Research?

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  • What are the sources of secondary research?

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Media Release

- FAQs -

The global security analytics market is currently valued at around US$ 10.2 Bn.
Demand for security analytics increased at 15.7% CAGR from 2016 to 2020.
Increasing adoption of IoT applications, mobile applications, cloud-based deployments, and BYOD is initiating a rise in advanced level threats across the globe, resulting in high adoption of security analytics solutions among enterprises.
According to Persistence Market Research analysis, the U.S., U.K., and China are key countries providing security analytics solutions.
North America is dominating the global market, accounting for 39.9% market share in 2020, with this regional market set to expand at a CAGR of 14.4%.
Hewlett Packard Enterprise, IBM Corporation, SolarWinds Inc., Cisco System, Inc., and Broadcom Inc. are top security analytics solution providers, and are likely to account for nearly 39% share of the global market.
The European market for security analytics is expected to rise at a CAGR of 20.5% from 2021 to 2031.
The BFSI sector is expected to dominate the market, generating revenue of US$ 9.2 Bn by 2031. However, the retail sector is estimated to witness a high CAGR of 25.7%.
Leading countries driving demand for security analytics are the U.S., China, India, U.K., Germany, and Brazil.
Demand for security analytics in Japan and South Korea is expected to account for 35.7% and 16.7% value share in 2021, respectively, in the East Asia market.
The global security analytics market is currently valued at around US$ 10.2 Bn.
Demand for security analytics increased at 15.7% CAGR from 2016 to 2020.
Increasing adoption of IoT applications, mobile applications, cloud-based deployments, and BYOD is initiating a rise in advanced level threats across the globe, resulting in high adoption of security analytics solutions among enterprises.
According to Persistence Market Research analysis, the U.S., U.K., and China are key countries providing security analytics solutions.
North America is dominating the global market, accounting for 39.9% market share in 2020, with this regional market set to expand at a CAGR of 14.4%.
Hewlett Packard Enterprise, IBM Corporation, SolarWinds Inc., Cisco System, Inc., and Broadcom Inc. are top security analytics solution providers, and are likely to account for nearly 39% share of the global market.
The European market for security analytics is expected to rise at a CAGR of 20.5% from 2021 to 2031.
The BFSI sector is expected to dominate the market, generating revenue of US$ 9.2 Bn by 2031. However, the retail sector is estimated to witness a high CAGR of 25.7%.
Leading countries driving demand for security analytics are the U.S., China, India, U.K., Germany, and Brazil.
Demand for security analytics in Japan and South Korea is expected to account for 35.7% and 16.7% value share in 2021, respectively, in the East Asia market.

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