New Computer Technology research report from Markets and Markets is now available from Fast Market Research
[ClickPress, Tue Jul 12 2016] Security Analytics Market by Application (Network Security Analytics, Application Security Analytics, Web Security Analytics, Endpoint Security Analytics), Services, Deployment Mode, Organization Size, Vertical, Region - Global Forecast to 2021
MarketsandMarkets estimates the global security analytics market to grow from USD 2.83 billion in 2016 to USD 9.38 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.1%. The security analytics market is growing rapidly because of the increase in adoption of security analytics solutions, as the sophistication level of threats and security breaches are growing rapidly.
"Network security analytics to have the largest market size in 2016"
Network security analytics is estimated to have the largest market size in 2016 because of the stringent regulations and compliance requirements. The growth in the network security analytics associated with the rise in security breaches targeting enterprise networks, where hackers try to gain access to sensitive data. Furthermore, endpoint security analytics will grow at the highest CAGR during the forecast period, due to the rise in IoT and BYOD trend.
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"BFSI vertical to have the highest growth rate during the forecast period"
Security analytics solutions have been deployed across various industry verticals, including government & defense, BFSI, consumer goods & retail, IT & telecom, healthcare, energy & utilities, manufacturing, education, transportation, and others. BFSI vertical is expected to witness the highest CAGR during the forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.
"Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period"
APAC includes the emerging economies such as India and China and are rapidly deploying security analytics solutions. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the security analytics marketplace.
* By Company type - Tier 1- 55%, Tier 2- 20%, Tier 3- 25%
* By Designation - C-Level - 60%, Director Level - 25%, Others- 15%
* By Region - North America - 10%, Europe -20%, Asia-Pacific - 40%, ROW - 30%
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