Artificial Intelligence
Security Analytics Market is Booming as Businesses are Pushed to Face the Reality of cybercrime and Secure their Sensitive Data
Westford, USA, Aug. 03, 2022 (GLOBE NEWSWIRE) — The need for security analytics is on the rise as businesses strive to protect their data from increasingly sophisticated cyber threats. It can help identify and respond to attacks in real time, as well as predict and prevent future attacks. With the ever-growing volume of data, traditional security solutions are no longer adequate. Security analytics provides the ability to sift through large data sets quickly to find the needles in the haystack.
Organizations are starting to realize the value of security analytics and are investing more in this area. A recent study by SkyQuest Technology found that 70% of organizations plan to increase their investment in security analytics over the next two years. On the other hand, the study also found that around 38% of the security professionals believe that they already have well-established security analytics. In the last few years, the global security analytics market has witnessed a considerable rise in the cybercrime activities. In fact, the people and companies around the world had lost around $315 million in 2015, which went on to increased to $5 billion in 2017, which is 15X higher than the initial value. As per a recent study by SkyQuest Technology, the number is expected to reach around $10.5 billion by 2025. This represents why businesses are highly running after security analytics solution.
To get the most out of security analytics, organizations have started investing in data management capabilities. This includes things like data quality control, normalization and enrichment. A good data management strategy will ensure that security analytics tools have the accurate and timely data they need to be effective.
SkyQuest Technology has done a detailed study on the security analytics market and prepared a thorough report that majorly covers market analysis as per application, demand, opportunities, market trends. Moving further, the report also provides in depth insights company share and their SWOT analysis. This would help the market participant in understanding how their competitors are performing and what strategies they are utilizing to stay ahead in the highly competitive security analytics market.
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SkyQuest Carried a Study on Security Analytics Market and Findings are Fascinating
SkyQuest Technology in its recent survey find that cyber threats continue to evolve and become more sophisticated, organizations are recognizing the importance of security analytics in identifying and responding to these threats. Security analytics can help organizations detect abnormal or suspicious activity, understand the scope and impact of an incident, and quickly respond to mitigate damage.
According to a recent study on security analytics market, 70% of organizations plan to increase their investment in security analytics over the next two years. This is a significant increase from previous years, when only 33% of organizations had plans to increase investment in this area. The study found that the primary drivers for this increased investment are the need for better visibility into network traffic and data (61%), improved detection of advanced threats (59%), and faster response times to incidents (58%).
Organizations are also planning to invest in security analytics tools that will enable them to automate responses to incidents (46%) and improve their overall security posture (45%). These investments will help organizations keep pace with the ever-changing threat landscape and protect their critical assets from increasingly sophisticated attacks.
Big Data, AI, and Machine Learning Start-Ups in Security Analytics Eating up Market Share of Existing Players
There is no denying that big data, artificial intelligence (AI), and machine learning are having a major impact on the security analytics market. Start-ups that are focused on these cutting-edge technologies are eating up market share from existing players who have been slow to adapt.
This is particularly apparent in the area of threat detection and response. Start-ups such as Cybereason, Cylance, and Darktrace are using AI and machine learning to deliver next-generation solutions that are far more effective than traditional approaches. As a result, they are winning deals from established vendors such as Symantec, McAfee, and Palo Alto Networks.
The same is true for other security applications in the global security analytics market such as access control, identity management, and vulnerability management. Start-ups like Okta, Auth0, and SentinelOne are leading the way with innovative solutions that offer superior performance and value.
SkyQuest Technology has carried out a study that covers every aspect about how start-ups are coming up with innovative solution to create their space and overcome the market challenges posed by market leaders. This would give market participant a detailed analysis about their tactics and how they are slowly taking market share of established players.
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Threat Intelligence is On the Rise, But Why?
Threat intelligence is a hot topic in the security analytics market these days. Many organizations are looking to implement threat intelligence programs in order to better protect themselves against cyber-attacks. But what exactly is threat intelligence? And why is it on the rise? Threat intelligence can be defined as “the actionable knowledge of threats that can be used to inform and guide security decisions.
There are many reasons why threat intelligence is on the rise. One is that the number and sophistication of cyber-attacks is increasing. For instance, every day around 2, 200 cyberattacks are carried out around the globe, which translate to around 1 in 39 seconds. In 2021, around 8,000 major cyber-attacks were carried out around the globe that inflicted loss of around $3 billion. It has also been found that North America was hotspot for the attackers as around 1,800 of them were took place in the US alone. China was the second with around 1,100 attacks.
As businesses in the security analytics market become more reliant on digital systems and data, they become more attractive targets for attackers. Another reason is that traditional security methods are no longer as effective as they once were. Firewalls, antivirus software, and other perimeter defense systems can no longer keep out all the threats.
A recent study by SkyQuest Technology found that 60% of organizations are looking to increase their investment in threat intelligence over the next few years. This is unsurprising, given the ever-evolving nature of cyber threats. As attackers become more sophisticated, organizations need to be able to keep up with the latest threats and understand how they can impact their business.
Threat intelligence can be used in a number of different ways, such as identifying new attacks, understanding attacker motivations, and improving detection and response capabilities. By understanding the threats that they face, organizations can be better prepared to defend themselves against them.
SkyQuest Technology has published a report on security analytics that studied the current market dynamics, market trends, value chain, company share analysis. The report also provides insights about porter’s five. This report is prepared keeping the market participants in the mind to provide them with insights about how the security analytics market is changing and what are the current trends that are shaping the market growth.
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User and Entity Behavior Analytics is Trending in Security Analytics Market
Global security analytics market is growing at a rapid pace, and user and entity behavior analytics (UEBA) is one of the hottest areas in the market. Security vendors are incorporating UEBA into their products to provide greater visibility into user behavior and trends.
Organizations are under constant attack from sophisticated cyber criminals who are constantly evolving their methods. In order to keep up with the latest threats, organizations need to be able to detect anomalous behavior that could indicate malicious activity. User and entity behavior analytics can help organizations do just that. By monitoring user activity and looking for patterns of behavior that deviate from the norm, UEBA can help organizations detect threats that other security technologies might miss.
As per SkyQuest Technology, most security vendors offer some form of UEBA, and the competition in the market is only going to intensify in the coming years. Organizations should consider UEBA as they look to bolster their security analytics capabilities.
For better understanding SkyQuest Technology conducted a survey on UEBA in security analytics market. The survey, which was conducted in October 2021, found that 42 percent of respondents said they were planning to implement or expand their use of UEBA within the next 12 months. This represents a significant increase from the 29 percent who said they were using UEBA in 2017. Moreover, the survey also found that UEBA is being used by 38% of organizations for security analytics, ranking it second only to log management (which was used by 41% of respondents). This is a significant increase from last year, when only 26% of organizations said they were using UEBA.
Top Players in Global Security Analytics Market
- IBM(US)
- HPE(US)
- Cisco (US)
- Broadcom (US)
- Splunk (US)
- RSA Security (US)
- McAfee (US)
- FireEye (US)
- Juniper Networks (US)
- LogRhythm (US)
Related Reports in SkyQuest’s Library:
Global Digital Asset Management (DAM) Market
Global Engineering Services Outsourcing Market
Global Video Live Streaming Solutions Market
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