Security Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The security analytics market will register a CAGR of 10.7% during the forecast period. Cyberattack types and frequency have exponentially increased due to the internet's rapid expansion. The growth of big data across computer networks quickly makes these conventional methods obsolete, even though several well-known cybersecurity solutions are used to defend against these threats.

Key Highlights

• Security analytics work with IT resources and use automated security intelligence to respond to the constant changes in the environment.Automating and making tactical modifications should be firmly connected with security policy controls.
• The current network architecture is more vulnerable to hackers because of the growth of IoT and the speed and scope of digital transformation. Big data analytics will be a key part of any effective cyber security solution because it will be necessary to quickly process the high-velocity, high-volume data from many different sources in order to find anomalies and attack patterns as soon as possible. This will make the systems less vulnerable and more resilient.
• Rules-based detection has given way to data science techniques like machine learning (ML) and artificial intelligence (AI) in security analytics solutions. This is a response to outside problems like more data, more complicated infrastructure, and a lack of skilled security experts. Most of the time, for security teams to be effective, they need to combine security analytics with a huge amount of machine-generated data.
• Costs are much higher for businesses of all sizes because there are more and more data breaches and more documents that are affected.
• The COVID-19 epidemic significantly impacted the world economy and changed people's communication and work. These drastic changes helped spammers and hackers thrive in the cyber world. Because of this, it was predicted that the security analytics market would benefit significantly from the rise in cyberattacks caused by the pandemic.

Security Analytics Market Trends

Network Security Analytics to Account for Significant Share

• The largest global market for security analytics products is network security applications. At the point where the business network and the public Internet connect, security tools like a next-generation firewall (NGFW), an intrusion prevention system (IPS), and a secure web gateway (SWG) have been installed. The majority of on-site business programs, users, and devices provide visibility and control over all incoming and outgoing network traffic.
• Statistical analysis isn't easy to use in security analysis, unlike in other fields where things are more stable.Because attackers often adapt to changes, it is usually very hard for programmers to make solutions for network security analytics.Thus, ongoing network monitoring is necessary to seek out signs of dangerous or intrusive threats. It frequently works in conjunction with other security technologies like firewalls, antivirus programs, and IDPs. The software can be used to monitor network security automatically or manually.
• Additionally, network security analytics solutions are becoming more reliable as machine learning algorithms replace conventional solutions based on the Bayesian probability theory, which holds that it is possible to predict with high accuracy the likelihood of something occurring by capturing every aspect of a problem and mathematically calculating possible outcomes.
• Network security has become one of the most important topics in cybersecurity because of how often, how different, and how likely it is that new and more destructive attacks will happen in the future. Network security mechanisms make it possible for computers, users, and programs to do important tasks in a safe environment.

North America to Account for Major Share

• One of the most important areas for the adoption and expansion of new technology is North America, specifically the US and Canada, with its supportive government policies to foster innovation, vast industrial base, and high purchasing power. The US represents a sizable market for security analytics across several industries. This nation is home to the vast majority of security analytics platform developers.
• North America has more data breaches, malware attacks, and advanced persistent threats. This is helping the security analytics industry grow in North America.In North America, the adoption of security analytics is also affected by the need for security compliance management systems and the rise in investments in cybersecurity solutions.
• End-user industries in the region were among the first to use analytics solutions, so they could stay ahead of other regions.In order to enable the proactive use of security analytics, this has helped both major enterprises and small and medium-sized businesses develop their infrastructure and databases. The understanding of the damage caused by advanced targeted threats and the capacity of security analytics systems to identify and thwart APT or ATA in real-time are both growing in the region.
• Businesses like Cylance Inc., the top provider of AI-driven, prevention-first security solutions, and Securonix, a North American provider of SIEM and user and entity behavioral analytics in security analytics, recently announced a partnership to support the interoperability of CylancePROTECT with the new release of the Securonix Security Analytics Platform. This shows the growing trend toward cloud solutions in security analytics.

Security Analytics Industry Overview

The network security market comprises several global and regional players, including technology and networking giants such as IBM and McAfee. Further, this market is characterized by growing levels of product penetration, moderate product differentiation, and high levels of competition. Some key players in the market are Arbor Networks Inc., RSA Security LLC (RSA), and Cisco.

In June 2022, Alert Logic will expand global distribution of its leading managed detection and response solution through a new strategic partnership with TD SYNNEX, where an agreement will make Alert Logic the choice for a global network of technology partners seeking to offer comprehensive MDR to customers.

In April 2022, Cisco announced the Secure Firewall 3100 Series, a midrange multipurpose firewall appliance with a new architecture designed for hybrid work. This series offers high performance and flexibility to empower hybrid workers and firewall administrators who manage their cloud and hybrid firewalls from anywhere.

CrowdStrike and Mandiant formed a strategic partnership in April 2022 to help their customers investigate, fix, and defend against increasingly complex cybersecurity events that affect businesses around the world. As part of the deal, Mandiant will use the CrowdStrike Falcon platform and subscription options to offer proactive consulting and incident response (IR) services to customers of both companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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