BFSI Segment to Dominate SAM Security Analytics Market during 2020–2028      

According to a new market research study on “SAM 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$ 581.85 million by 2028 from 220.06 US$ million in 2021. The market is estimated to grow at a CAGR of 14.9% from 2021 to 2028. The report provides trends prevailing in the SAM security analytics market along with the drivers and restraints pertaining to the market growth. Advanced technologies getting highly adopted is the major factor driving the growth of the SAM security analytics market. However, issues associated with IT security budgets being allotted improperly hinders the growth of SAM security analytics market.

 SAM security analytics market is segmented into component, deployment, application, organization size, industry, and country. Based on component, the SAM security analytics market is bifurcated into solution and services. In 2020, the solution segment led the SAM security analytics market, accounting for a larger security analytics market share. Based on deployment, the SAM 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 SAM 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 SAM 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 SAM 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 SAM security analytics market is segmented into Brazil, Argentina, and Rest of SAM. Brazil held the largest market share in 2020.

Brazil recorded the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina. In 2020, the COVID-19 pandemic led to the closure of all economic activities across the region to combat the spread of the virus. The governments in SAM had taken an array of actions to protect their citizens and contain COVID-19's spread. The presence of various developing countries in SAM makes this region one of the key markets for security analytics providers.

Growing population, rising disposable income, increasing demand for advanced technologies, and rising focus on digital transformation are some of the key factors expected to drive the security analytics market in SAM. With an increase in the uptake of work-from-home trends during lockdowns, organizations are realizing the importance of security analytics systems to give businesses the ability to foresee security threats using analytics software. Its value has increased exponentially during the COVID-19 pandemic, as threats could destroy the infrastructure of a business and its systems, contributing to the region's positive growth of the security analytics market.

Broadcom, Inc.; Cisco Systems, Inc.; Hewlett Packard Enterprise Development LP (HPE); Huntsman Corporation; IBM Corporation; McAfee, LLC; SolarWinds Worldwide, LLC; and Splunk, Inc. are among the leading companies in the SAM 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, Huntsman Security launched its Enterprise SIEM V7.0 which is designed to Integrate Mitre Attack Intelligence into SOC workflows with its live attack heatmap.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com