Security Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Security Analytics market is expected to grow with a CAGR of 10.7% during the forecast period. The rapid growth of the internet has resulted in an exponential increase in the type and frequency of cyber attacks. Although many well-known cybersecurity solutions are utilized to counteract these attacks, the generation of Big Data over computer networks rapidly renders these traditional solutions obsolete.

• Security analytics interoperate with IT assets and leverage automated security intelligence to keep up with the constantly changing landscape. It should also be tightly integrated with security policy controls for tactical adjustments and automation.
• The current network infrastructure is becoming more vulnerable to cyberattacks due to the emergence of IoT and the expanding speed and scope of digital transformation. Due to the requirement for quick processing of the high-velocity, high-volume data from various sources to identify anomalies and attack patterns as soon as possible to reduce the vulnerability of the systems and increase their resilience, big data analytics will be a necessary component of any efficient cyber security solution.
• Security analytics solutions have expanded from rules-based detection to data science methods, such as Machine Learning (ML) and Artificial Intelligence (AI). This is in response to external issues such as increasing data volumes, sophisticated infrastructure, and a lack of knowledgeable security specialists. Security teams must integrate security analytics with the vast amounts of machine-generated data in most organizational contexts to handle threats effectively.
• The increased pervasiveness of data breaches and the higher volume of impacted records result in far higher costs for organizations of all sizes. According to ISF, an independent and not-for-profit association of leading organizations worldwide, the number, magnitude, and costs of data breaches will continue on their upward trajectories in 2021. According to statistics from IBM and Ponemon Institute, the price of a breach in the United States is estimated at USD 7.35 million, or nearly double the USD 3.62 million it costs globally. As a result, organizations are increasingly concentrating on threat hunting as a preventive measure.
• The COVID-19 epidemic significantly impacts the world economy and changes people's communication and work. These drastic changes are helping spammers and hackers thrive in the cyber world. Because of this, it is predicted that the security analytics market will soon benefit significantly from the rise in cyberattacks caused by the pandemic.

Scope of the Report

Security analytics uses data collection, aggregation, and analysis tools for security monitoring and threat detection. Security analytics data can be collected in several ways, including Network traffic. Endpoint and user behavior data. With the increasing use of the internet in both developed and developing countries, security analytic solutions should become more widely adopted because the internet is now connected to every technology in the modern world, giving cybercriminals easier access to data.

Security Analytics Market is Segmented by Application (Network, Application, Web, Endpoint), End-user Industry (Healthcare, Defense and Security, Banking and Financial Services, Telecom and IT), and Region

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Key Market Trends

Network Security Analytics to Account for Significant Share

• Network security applications are the most significant global demand for security analytics solutions. Security solutions such as a next-generation firewall (NGFW), intrusion prevention system (IPS), and secure web gateway (SWG) were deployed at the point of connection between the corporate network and the public Internet. Most corporate applications, users, and devices located on-site provided visibility and control over all traffic entering and leaving the corporate network.
• Unlike other more well-behaved problem domains, security analysis does not naturally lend itself to statistical analysis. In most cases, attackers tend to constantly adapt to changes, making the fabrication of network security analytics solutions an almost impossible task for programmers. Hence continuous network monitoring is required, looking for indications of harmful or intrusive threats. It is often used with other security tools like firewalls, antivirus software, and IDPs. Monitoring for network security may be done manually or automatically using the software.
• Further, as the traditional network security analytics solutions based on the Bayesian probability theory, which states it’s possible to predict with high accuracy the likelihood of something happening by capturing every element of a problem and calculating possible outcomes mathematically, are being replaced with machine learning algorithms, due to this network security analytics solutions are getting more reliable.
• Given the frequency and variety of existing attacks and the threat of new and more destructive future attacks, network security has become a central topic in cybersecurity. Network security measures allow computers, users, and programs to perform critical functions in a secure environment.

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