Report : North America 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)
Solution Segment to Dominate North America Security Analytics Market during 2020–2028
According to a new market research study on “North America 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$ 14,546.36 million by 2028 from 5,226.38 US$ million in 2021. The market is estimated to grow at a CAGR of 15.7% from 2021 to 2028. The report provides trends prevailing in the North America security analytics market along with the drivers and restraints pertaining to the market growth. Rising cases of cyber threats and security breaches is the major factor driving the growth of the North America security analytics market. However, issues associated with lack of skilled IT security personals and shortage of proper allocation of IT security budgets hinders the growth of North America security analytics market.
North America security analytics market is segmented into component, deployment, application, organization size, industry, and country. Based on component, the North America security analytics market is bifurcated into solution and services. In 2020, the solution segment led the North America security analytics market, accounting for a larger security analytics market share. Based on deployment, the North America 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 North America 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 North America 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 North America 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 North America security analytics market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
North America is one of the most critical regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, the presence of a substantial industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. The US is a prominent market for security analytics in several industries. The country consists of the maximum number of security analytics platform developers. Further, the COVID-19 pandemic has forced companies to adopt work-from-home trends, increasing big data and data analytics demand. The pandemic has created an enormous challenge for businesses in North America to continue operating despite massive shutdowns of offices and other facilities. The changing nature of working has affected IT security. Therefore, organizations are witnessing an increased risk of cyberattacks due to the extensive use of open-source software, such as zoom, skype, and other apps or software, during remote working.
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 North America 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, RSA Security launched it REST API solution that provides the identity, security operations, and incident response teams with visibility into users who exhibit anomalous behavior in the organization based on users’ access patterns.North America Security Analytics Market, By Country, 2020 and 2028 (%)
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