Report : Asia Pacific Security Analytics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Deployment (On-Premise and Cloud-Based), Application (Network Security Analytics, Endpoint Security Analytics, Application Security Analytics, Web Security Analytics, and Others), Organization Size (Small and Medium Enterprises and Large Enterprises), and Industry (BFSI, Government, Consumer Goods and Retail, IT and Telecom, Healthcare, Energy and Utilities, Manufacturing, and Others)
Network Security Analytics Segment to Dominate APAC Security Analytics Market during 2020–2028
According to a new market research study on “APAC Security Analytics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Deployment, Application, Organization Size, and Industry” is expected to reach US$ 8,282.87 million by 2028 from 2,556.16 US$ million in 2021. The market is estimated to grow at a CAGR of 18.3% from 2021 to 2028. The report provides trends prevailing in the APAC security analytics market along with the drivers and restraints pertaining to the market growth. Significant usage of big data and cloud-based infrastructure is the major factor driving the growth of the APAC security analytics market. However, issues associated with less number of skilled IT security personals hinders the growth of APAC security analytics market.
APAC security analytics market is segmented into component, deployment, application, organization size, industry, and country. Based on component, the APAC security analytics market is bifurcated into solution and services. In 2020, the solution segment led the APAC security analytics market, accounting for a larger security analytics market share. Based on deployment, the APAC security analytics market is bifurcated into on-premise and cloud-based. In 2020, the cloud-based segment accounted for a larger security analytics market share. Based on application, the APAC security analytics market is segmented into network security analytics, endpoint security analytics, application security analytics, web security analytics, and others. In 2020, the network security analytics segment accounted for the largest security analytics market share. Based on organization size, the APAC security analytics market is bifurcated into small and medium enterprises and large enterprises. In 2020, the large enterprises segment accounted for a larger security analytics market share. Based on industry, the APAC security analytics market is segmented into BFSI, government, consumer goods and retail, IT and telecom, healthcare, energy and utilities, manufacturing, and others. In 2020, the BFSI segment accounted for the largest security analytics market share. Based on country, the APAC security analytics market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China held the largest market share in 2020.
In 2020, APAC was greatly affected by the COVID-19 outbreak. China homes the most significant population worldwide, thereby imposing greater risk on many individuals. It is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other significant economies outside China, such as India, Australia, and Japan, and is experiencing low inflation. Further, in 2021, the offices have resumed their operations with the release of lockdown restrictions and an ongoing vaccination process. In the wake of COVID-19, businesses are sensitive to anything that could damage their reputation. Businesses understand that they cannot afford any data breaches or security breaches that damage their reputation. There is speculation that the work-at-home modality is expected to become the new normal for many people. Therefore, businesses present in the region are expected to invest more money and energy into identifying intelligent management solutions tailored toward managing work-from-home security threats. Thus, the security analytics market is estimated to experience substantial growth over the next few years.
Broadcom, Inc.; Cisco Systems, Inc.; Hewlett Packard Enterprise Development LP (HPE); Huntsman Corporation; IBM Corporation; McAfee, LLC; Rapid7; RSA Security LLC; SolarWinds Worldwide, LLC; and Splunk, Inc. are among the leading companies in the APAC security analytics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Cisco has introduced a new Catalyst industrial router line that extends the enterprise network's power to the edge while providing the flexibility, security, and scalability required for IoT success. The portfolio, which now includes 5G capabilities, enables enterprises to conduct connected operations at scale with a variety of management tools suitable to both IT and operations. The unified architecture accelerates deployments from the enterprise to the edge and facilitates collaboration between IT and operations.
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