According to a report issued by Market Research Future (MRFR), the global market is slated to acquire a substantial market valuation at a moderate CAGR over the review period.
As cybersecurity threats and attacks continue to grow and advance, advanced security solutions are becoming more and more important, with security intelligence leading the way. The increasing sophistication of cyber-attacks, rising need to secure enterprise communications, and growing adoption of BYOD trend across enterprises are the factors driving the growth of the global security intelligence market. Lack of qualified information security professionals is hampering the market growth. The market seeks opportunities from changing regulations across geopolitical boundaries, which demands compliance requirements. Data security Issue is the major challenge faced by the market. Emerging technologies such as blockchain and artificial intelligence (AI) in cybersecurity is expected to have a significant impact on the security intelligence market.
The global security Intelligence market has been segmented on the basis of component, organization size, deployment, vertical, and region.
Based on the component, the market for security intelligence has been segmented into solutions and services. The solution segment has been sub-segmented into log management, security information and event management, network forensics, and others. The services segment has been bifurcated into managed services and professional services. And the professional services have been further classified into consulting services and training and support.
On the basis of organization size, the security intelligence market has been segmented into small and medium enterprises and large enterprises.
Based on the deployment, the security intelligence market has been segmented into on-cloud and on premise.
On the basis of the vertical, the market has been categorized into BFSI, IT and telecommunications, government and defense, manufacturing, healthcare, retail, transportation, and others.
The geographic analysis of the global security intelligence market has been conducted for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), the Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).
North America is currently dominating the global security intelligence market. The US is expected to have the largest security intelligence market share in the region followed by Canada as the region has been the early adopter of advanced technologies such as AI, big data analytics, and IoT. Additionally, well-established network infrastructure, developed economy, and availability of skilled experts are driving the growth of security intelligence Market in the US. Furthermore, the region houses the majority of the key players who are focused on research, and the development of security intelligence solutions and services with advanced capabilities is contributing to the growth of the security intelligence market in the region.
Europe is having a significant share in the global security intelligence market. SMEs as well as large enterprises across the UK, Germany, Spain, and Norway, among others, are witnessing significant adoption of security intelligence owing to the need to adhere to the stringent government data security regulations and the increasing sophistication of cyber-attacks. Furthermore, the growing adoption of cloud-based security intelligence solutions has significantly increased the demand in the region.
Asia-Pacific region is projected to grow at the fastest CAGR in the global security intelligence market. Major countries in the region such as China, Japan, India, South Korea, and Malaysia emphasize securing the enterprise data. Growing adoption of BYOD trends and the growing number of startups demanding security intelligence solutions to secure enterprise communications are further contributing to the market growth. Adoption of advanced technologies such as cloud, IoT, AI and big data analytics for security intelligence is further driving the market growth.
The Middle East and Africa and South America are expected to grow at a considerable rate in the security intelligence market. The increasing sophistication of cyber-attacks, growing adoption of BYOD trend across enterprises, and stringent government regulations related to data security are driving the demand for security intelligence solutions in the region to safeguard the sensitive data from cybersecurity threats.
MRFR has considered IBM Corporation (US), Palo Alto Networks (US), Symantec (US), Alienvault (US), Dell Technologies (US), Check Point (Israel), Trend Micro (Japan), Kaspersky Lab (Russia), LookingGlass Cyber Solutions (US), and Intel Corporation (US) as some of the key players in the Global Security Intelligence Market.
Logrhythm (US), Fireeye (US), Mcafee (US), ANOMALI (US), j2 Global, Inc. (US), Exabeam (US), and Tata Communications (India) are some other players operating in the global market of security intelligence.
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