The Latin America, Middle East and Africa Security Analytics Market is expected to witness market growth of 25.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Security Analytics Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.20 billion by 2031. The Argentina market is registering a CAGR of 26.6% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 24.7% during 2024-2031.
The adoption of security analytics across various sectors is driven by the need to enhance cybersecurity measures, comply with regulations, and leverage advanced technologies for proactive threat detection and response. Security Information and Event Management (SIEM) systems are commonly used for logging and monitoring security events.
Moreover, security analytics tools are designed to integrate seamlessly with SIEM solutions, enhancing their capabilities with advanced threat detection and predictive analytics. Many organizations still rely on legacy security systems. Security analytics can be layered over these existing systems to provide enhanced capabilities without a complete overhaul, making it a cost-effective solution.
The growing cybersecurity industry in Saudi Arabia is having a significant impact on the expansion of the security analytics market. In 2023, Saudi Arabia ranked second in the Swiss-based International Institute for Management Development (IMD)’s Global Cybersecurity Index, reflecting its commitment to enhancing cybersecurity measures and capabilities. Additionally, the nation achieved a commendable 17th position in overall competitiveness, showcasing its efforts to foster a robust digital economy.
The Brazil market dominated the LAMEA Security Analytics Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.20 billion by 2031. The Argentina market is registering a CAGR of 26.6% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 24.7% during 2024-2031.
The adoption of security analytics across various sectors is driven by the need to enhance cybersecurity measures, comply with regulations, and leverage advanced technologies for proactive threat detection and response. Security Information and Event Management (SIEM) systems are commonly used for logging and monitoring security events.
Moreover, security analytics tools are designed to integrate seamlessly with SIEM solutions, enhancing their capabilities with advanced threat detection and predictive analytics. Many organizations still rely on legacy security systems. Security analytics can be layered over these existing systems to provide enhanced capabilities without a complete overhaul, making it a cost-effective solution.
The growing cybersecurity industry in Saudi Arabia is having a significant impact on the expansion of the security analytics market. In 2023, Saudi Arabia ranked second in the Swiss-based International Institute for Management Development (IMD)’s Global Cybersecurity Index, reflecting its commitment to enhancing cybersecurity measures and capabilities. Additionally, the nation achieved a commendable 17th position in overall competitiveness, showcasing its efforts to foster a robust digital economy.
List of Key Companies Profiled
- Microsoft Corporation
- Fujitsu Limited
- BAE Systems PLC
- Cisco Systems, Inc.
- Fortinet, Inc.
- Hewlett Packard Enterprise Company
- LogRhythm, Inc.
- Oracle Corporation
- IBM Corporation
- Open Text Corporation
Market Report Segmentation
By Organization Size
- Large Enterprise
- Small & Medium Enterprise (SME)
By Application
- Network Security Analytics
- Endpoint Security Analytics
- Web Security Analytics
- Application Security Analytics
- Other Application
By Component
- Solutions
- Service
- Managed Services
- Professional
By Vertical
- BFSI
- Telecom & IT
- Healthcare
- Retail
- Government & Defense
- Manufacturing
- Other Vertical
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Security Analytics Market by Organization Size
Chapter 6. LAMEA Security Analytics Market by Application
Chapter 7. LAMEA Security Analytics Market by Component
Chapter 8. LAMEA Security Analytics Market by Vertical
Chapter 9. LAMEA Security Analytics Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Microsoft Corporation
- Fujitsu Limited
- BAE Systems PLC
- Cisco Systems, Inc.
- Fortinet, Inc.
- Hewlett Packard Enterprise Company
- LogRhythm, Inc.
- Oracle Corporation
- IBM Corporation
- Open Text Corporation
Methodology
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