Network security

Network Security & Cloud Security will hold a cumulative share of over 60% in the security analytics market: PMR

NEW YORK, 12 October 2021 / PRNewswire / – The global security analysis market has reached a valuation of nearly 8.7 billion US dollars in 2020, and is expected to post a high CAGR of 20.2% over the next ten years.

Security analysis Use machine learning and big data analytics to collect, categorize, and analyze data collected from network devices to detect advanced threats. The increase in the number of data breaches, cyber attacks and cyber exploits has resulted in an increasing demand for security analysis solutions.

The growing number of small and medium businesses around the world has resulted in the growth of the startup culture, which has led to the adoption of BYOD culture by businesses, eliminating the upfront infrastructure expense. This has further heightened concerns about the security of organizations. The integration of such concepts attracts cyberthreats and puts company data at risk. Therefore, most organizations adopt security scans to protect their confidential data.

Security Scan provides endpoint security with proof of compliance, user behavior, cloud and network traffic analysis, external threat alert, and access and identity scans. The Internet of Things (IoT) is a huge opportunity for businesses, consumers, and tech organizations. IoT users and software designers aim to use a wide range of current and future technology solutions to combat cyber attack risks associated with their IoT devices. Tech companies and developers of these solutions will need to play a leading role in securing their devices and solutions in order to provide a safer and more secure IoT environment.

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This is a rapidly changing market, and many recent developments have been observed:

In Sep 2020, IBM Corporation has partnered with RiskLens to offer FAIR Cyber ​​Risk Quantification to its global customer base. According to IBM Security, Risk Quantification Services aligns security teams and business leaders with leadership buy-in by translating the technical aspect of cybersecurity into the financial language of the C-suite and the board, a informed decision making.

In February 2020, HPE acquired cloud-native security startup Scytale to advance its open, secure, edge-to-cloud strategy. The Scytale team brings expertise in cloud native security and zero trust networking, and is also recognized as the founding contributors to the open source SPIFFE (Secure Production Identity Framework for Everyone) and SPIRE (SPIFFE Runtime Environment) projects. .

Key points of the market research

  • The demand for security analysis services is expected to increase. However, it is estimated that security analysis software will continue to hold a significant market share until 2031.
  • The retail sector is expected to become a high growth market. However, it is estimated that BFSI will dominate the market share until 2031.
  • By application, network security is currently leading the market. However, the demand for cloud security is expected to increase at a robust 23.6% CAGR through 2031.
  • Depending on the size of the company, large companies are estimated to have a substantial market share; however, demand from SMEs is expected to grow faster at a CAGR of 21.3% over the next ten years.
  • The North America The market is expected to register a high CAGR owing to the increasing demand for security analysis solutions from the small and medium enterprises in the region.

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“Security scanning is the process of collecting, categorizing and analyzing data collected from network devices and detecting advanced threats. Security analytics solutions accelerate detection and response to cyber threats. Rapid detection and response can help IT prevent or reduce the damage caused by a breach. causes, ”says a Persistence Market Research analyst.

Emerging awareness regarding security threats to propel market growth

Previously, organizations adopted security strategies and approaches only to protect and maintain the integrity of critical information. However, due to the sudden increase in cybercrime and data theft activities, companies have started to focus on better security approaches for information deployed in the cloud as well as on premises and to improve the framework for internal security.

Businesses have faced cyber attacks such as phishing, DDoS attacks, and social engineering attacks. Additionally, large organizations around the world are taking initiatives to implement security analytics solutions for their business applications deployed in the cloud as well as on-premises, and helping other small businesses understand capacity utilization. cybersecurity and Internet security threats.

Additionally, organizations understand the importance of security analytics which gives businesses the ability to predict security threats using analytics software. Its value has improved exponentially during the time of COVID-19.

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More valuable information available

Persistence Market Research report on Security Analytics Market is segmented into five major sections – Solution (Security Analytics Software – Cloud Based & On-Premises) and Services – Professional Services (Security Consulting, Integration and deployment, and support and maintenance) and managed security analysis services), application (network security, endpoint security, application security, cloud security and others), company size (small and medium enterprises (SMBs) ) and large corporations), sector (BFSI, IT and telecommunications, government and defense, retail, healthcare, manufacturing, education and others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and assess the lucrative opportunities in the market.

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