Security Analytics Market: Industry Sees Promising Growth in Coming Years 2029
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The global security analytics market has been segmented based on solution type, deployment, organization size, end-user industry and geographic region.
PORTLAND, PORTLAND, OR, UNITED STATE, April 1, 2022 /EINPresswire.com/ -- As the technology is improving and organizations are adopting these advanced technologies, the number of cybercrime and security breaches is also increasing.
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However, security analytics offers endpoint security with user behavior, proof of compliance, external threat alert, cloud & network traffic analysis, and access & identity analytics to help organizations to move forward with the adoption of technology with improved security.
Therefore, with the increased usage of technology and the rise in cybercrime rates, the adoption of security analytics solutions is expected to increase which is estimated to drive the security analytics market growth.
A major shift toward bringing your own device (BYOD) trend along with penetration of Internet of Things (IoT) devices drives the growth of the market.
Moreover, with growth in the adoption of advanced technologies, the instances of cyber-attacks have also increased, which will drive the demand for security analytics, thus fueling the growth of the market.
However, lack of expertise and awareness is expected to restrain the growth of the market. Furthermore, growth in the adoption of big data analytics and cloud infrastructure due to COVID-19 pandemic is expected to provide lucrative opportunities for the market.
Impact of COVID-19 on Security Analytics Market:
• The pandemic has created an enormous challenge for businesses worldwide to continue operating despite massive shutdowns of offices and other facilities.
• However, the changing nature of working has affected the IT security. Therefore, organization are able to witness the increased the risk of cyber-attacks.
• Moreover, organizations are realizing the importance of the security analytics market to give businesses the ability to foresee security threats using analytics software. Its value has increased exponentially during the COVID-19 pandemic as there are threats that could destroy the infrastructure of a business and its systems.
• In the wake of COVID-19, businesses are sensitive to anything that could damage their reputation and affect their already weak state. Businesses understand that they cannot afford to have any data breaches or security breaches that will damage their reputation.
• There is speculation that the work-at-home modality is expected become the new normal for many people. If this is true, businesses are expected to invest more money and energy into identifying intelligent management solutions tailored toward managing work-at-home security threats. Thus, the security analytics market is estimated to experience substantial growth over the next few years.
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