The security analytics market size is projected to grow from USD 7.8 billion in 2019 to USD 18.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period. The major factors driving the growth of the security analytics market include an increasing focus to maintain regulatory compliance and demand to discover threat patterns, prioritization of network-based threats with actionable intelligence to avert data losses, and prevention of onward intrusion.
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Key market players profiled in this report include IBM (US), Cisco (US), Splunk (US), RSA (US), FireEye (US), HPE (US), McAfee (US), Symantec (US), LogRhythm (US), Huntsman Security (Australia), Securonix (US), Gurucul (US), Juniper Networks (US), Hillstone Networks (China), Exabeam (US), Rapid7 (US), Alert Logic (US), Forcepoint (US), Assuria (UK), and Haystax (US). These players have adopted various growth strategies, such as partnerships and new service launches to expand their presence in the security analytics market and broaden their customer base.
IBM (US) offers security analytics solutions through IBM QRadar, an enterprise Security Information and Event Management (SIEM) product that collects log data from an enterprise, its network devices, host assets and Operating Systems (OS), applications, vulnerabilities, and user activities and behaviors. This log data is analyzed further on a real-time basis to identify malicious activities so it can be stopped quickly, preventing or minimizing the damage to the organization. In December 2019, IBM enhanced the IBM QRadar Advisor with Watson solution by combining IBM Cognitive Artificial Intelligence (AI) and the QRadar Security Analytics platform to uncover hidden threats and assist users with the incident and risk analysis, triage, and response. QRadar Advisor with Watson enriches security incidents compiled by the QRadar platform, with insights from Watson for Cyber Security to investigate and respond to threats at an increased speed and scale.
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Cisco’s (US) security analytics products include Cisco Stealthwatch, Cisco Defense Orchestrator with Security Analytics and Logging, and Cisco Endpoint Security Analytics, and Cisco Tetration. These solutions provide organizations with comprehensive threat visibility capabilities into the extended network by detecting and responding to advanced threats and helping simplify network segmentation using a combination of behavioral modeling, multilayered Machine Learning (ML), and global threat intelligence. In August 2019, Cisco upgraded its security analytics solution Cisco Stealthwatch to version 7.1.2 that adds enhanced analytics, context-aware mitigation capabilities, and improved features to control and manage a tool. The update fixes various bugs, defects, and issues reported by customers in previous releases while adding on new features and improvements that include new alarms, Cisco Threat Response (CTR) integration, automatic removal of inactive exporters and interfaces, Terminal Access Controller Access-Control System (TACACS+), cognitive integration enhancements, and contacting support.
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