The war against cyber threats will be worth $9.3 billion in 2021
The security analytics market is predicted to boom in the next five years, with one report stating that it will grow from US$2.83 billion in 2016 to US$9.38 billion - a Compound Annual Growth Rate (CAGR) of 21.7%, highlighting the rapid growth in not only security breaches, but the race to prevent them.
The report, conducted by MarketandMarkets, predicts that endpoint security analytics will be the highest CAGR earner in the Asia Pacific region. Security threats, breaches, regulations and compliance requirement all fuel growth, along with IoT, bring-your-own-device and cloud applications become more popular. Bring-your-own-device, the Internet of Things and the growing number of endpoints are ever more vulnerable to Advanced Persistent Threats (APTs). The need to secure infrastructure and the devices that use it will fuel endpoint security analytics will ensure large market share and an increasing number of vendors.
Government and defense verticals will have the largest market share in 2016, as vertical infrastructures are more prone to advanced threats to their critical data and applications. Governments and defense systems will adopt more complex security analytics. In addition, IT, healthcare and retail verticals are also expected to grow.
The Asia-Pacific region will feel the highest effects of the growth, as increasing technological adoption and lucrative opportunities in industry verticals will continue to appear, particularly in growth regions such as China and India. The report predicts North America will hold the largest share of the Security Analytics Market.