Security Analytics Market: Increasing Demand for User Behavior Monitoring Amid COVID-19 Crises to Drive Market Growth

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Security Analytics Market: Increasing Demand for User Behavior Monitoring Amid COVID-19 Crises to Drive Market Growth

Status : November, 2021 | Technology & Media

Report Digest

Security analytics is a cybersecurity discipline where data is aggregated and analyzed to   produce proactive security measures for security monitoring and threat protection. With the ever growing threat landscape, there is need for analyzing network traffic, detecting data exfiltration, and monitoring user behavior which has boosted the demand for such threat detection systems for the past few years. Security analytics is a combination of software, analytic processes and algorithms, to maintaining regulatory compliance and improved network forensics capabilities. Security analytics solution provides a wide range of applications for both real-time and historical data to detect and diagnose sophisticated threats such as zero day malwares, advanced persistent threats and other sophisticated cyber threats. Such proactive solutions can help security professionals to speed-up threat detection and response and also protect the organizations from such potential data breaches which can cost millions of dollars to recover.

Increasing Adoption of Security Analytics Solution amid the COVID-19 Pandemic outbreak

The COVID-19 pandemic outbreak has created disruption in many industries, including the cybersecurity market. Many private as well as government organizations have allowed their employees to work from home amid the lockdowns, which has created need for monitoring the network security proactively, as people are remotely connected consuming enterprise resources and sharing documents using collaboration tools. Business are increasingly adopting security solutions to manage such security risks in the new home-working environment.

Amid the COVID-19 lockdown, there has been surge in potential cyber-attacks such as email phishing, VPN-based attacks, enterprise network attacks and other threat vectors. According to a leading IT security company Barracuda Networks, there has been a surge in spear-phishing email attacks since January 2020, where they detected more than 9000 phishing emails linked to COVID-19 financial donation subjects, alone in the month of March 2020. As VPN servers are becoming vital to enterprises, there is been a significant spike in DDoS attacks against VPN infrastructure. DDoS attacks rose about 180% in 2019 as compared to the year 2018, which could further rise to more than 200% in 2020. Moreover, about 85% cyberattacks in the year 2019 used 2 or more attack vectors, which could rise to nearly 90% in 2020 as cyber criminals are exploiting COVID-19 crisis. Hence, implementation of security analytics tools would be highly valuable for the enterprises to conduct forensics investigation by analyzing such security incidents to safeguard the intellectual enterprise data.

Security Analytics Market: Drivers and Restraints

The global security analytics market is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of security analytics solution such as network analysis and visibility (NAV), security orchestration, automation, and response (SOAR) and growing demand for data protection worldwide. The security analytics technology offers various benefits such as behavioral analytics, external threat intelligence, access and identity management, and rapid detection and response. The growing demand for a security monitoring and threat analysis to help the business to protect the integrity of systems and data is expected to create a huge opportunity for the global security analytics market. In addition, the need for security technology for transitioning from protection to detection and increasing importance of a unified security view across enterprise, are anticipated to drive the security analytics market growth.

However, as the threat landscape continues to grow, security analytics solution providers are not regularly upgrading their software and solutions when it comes to security updates, which could poses a bigger challenge. Complex security testing and restricted development environment, among other factors, are anticipated to restrict the growth of the security analytics market over the forecast period.

Security Analytics Market: Segmentation

The security analytics market has been segmented on the basis of Component, Deployment, Organization size, Industry and Region.

The security analytics market is segmented on the basis of Component:

  • Solutions
    • Network Analysis and Visibility (NAV)
    • Security Orchestration, Automation, and Response (SOAR)
    • Others
  • Services
    • System Integration
    • Security Consulting
    • Support & Maintenance

The security analytics market is segmented on the basis of Deployment:

  • Cloud
  • On-premises

The security analytics market is segmented on the basis of Organization Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

The security analytics market is segmented on the basis of Industry:

  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer Goods and Retail
  • Telecommunication
  • Healthcare
  • Aerospace and Defense
  • Energy and Utilities
  • Manufacturing
  • Others

Security Analytics Market: Competition Landscape

Some of the prominent players in security analytics market are IBM, Cisco, McAfee, Splunk, FireEye, LogRhythm, Inc., Assuria, Haystax, and among others.

Security Analytics Market: Regional overview

Based on the region, security analytics market has been segmented into North America, Europe, East Asia Latin America, South Asia & Pacific, and MEA (the Middle East & Africa). North America followed by Europe accounted for largest market share as many security analytics provider are present in these regions due to advancement in technology and high business growth rate in this region. South Asia & Pacific is expected to grow at highest growth rate during the forecast period due to increasing adoption of security analytics in BFSI, IT & Telecom, and Retail industries.

The security analytics market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with security analytics market attractiveness as per segment. The security analytics market report also maps the qualitative impact of various market factors on security analytics market segments and geographies.

The report covers exhaustive analysis on:                                      

  • Security Analytics Market Segments
  • Security Analytics Market Dynamics
  • Security Analytics Market Size
  • Supply & Demand Analysis
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Impact of COVID-19 on market growth
  • Value Chain Analysis
  • Security Analytics Market Drivers and Restraints

Report Highlights:

  • Detailed overview of parent security analytics market
  • Changing security analytics market dynamics in the industry
  • In-depth security analytics market segmentation
  • Historical, current, and projected security analytics market size in terms of value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?