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Security Analytics Market is Booming as Businesses are Pushed to Face the Reality of cybercrime and Secure their Sensitive Data

Global security analytics market was valued at USD 10.75 Billion in 2021, and it is expected to reach a value of USD 33.54 Billion by 2028, at a CAGR of 17.65 % over the forecast period (2022-2028).

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.

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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.

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%).

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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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[To share your insights with us, please write to sghosh@martechseries.com]

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