North America Security Analytics Market
Market Introduction
The US, Canada, and Mexico are the major economies in North America that highly invest in advanced technologies, making the region a competitive market for various companies. North America is one of the technologically advanced regions globally, owing to the factors such as early adoption of technologies, investments of governments in new advancements, and strong economic growth. Digitization is touching every aspect of lives, and the region is swiftly transforming with the implementation of cloud computing, mobile technology, social media, and advances in analytics. In the digital transformation era, various technologies and solutions are implemented in North America to support rapid and accelerating change. Further, the rapid adoption of e-commerce, social media, and advanced technologies such as artificial intelligence and IoT has widened the platform for cyberattacks due to massive data generation. This drives the need for advanced threat intelligence solutions across North America.
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.
Market Overview and Dynamics
The security analytics market in North America is expected to grow from US$ 5,226.38 million in 2021 to US$ 14,546.36 million by 2028; it is estimated to grow at a CAGR of 15.7% from 2021 to 2028. Banks in the region are acknowledging the importance of security analytics solutions and progressively adopting and implementing these solutions, which, in turn, propels market growth. In the BFSI sector, a security analytics solution is used for real-time fraud detection. Security analytics automates the detection of data anomalies automatically and triggers actions to counter them. For instance, in June 2021, Bank of America announced that it had ramped its cybersecurity spending to over US$ 1 billion a year as a series of sweeping cyberattacks had struck private companies and federal government networks over the past years. Therefore, the growing banking institutions in the region have increased the threats of cyberattacks, and therefore, it is likely to flourish the need for security analytics solutions.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the security analytics market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
North America
Security Analytics Market
Segmentation
North America Security Analytics Market -
By Component
North America Security Analytics Market - By
Deployment
North America Security Analytics Market - By Application
North America Security Analytics Market - By Organization Size
North America Security Analytics Market - By Country
North America Security Analytics Market - Company Profiles
Strategic insights for the North America Security Analytics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5,226.38 Million |
| Market Size by 2028 | US$ 14,546.36 Million |
| Global CAGR (2021 - 2028) | 15.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Security Analytics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Security Analytics Market is valued at US$ 5,226.38 Million in 2021, it is projected to reach US$ 14,546.36 Million by 2028.
As per our report North America Security Analytics Market, the market size is valued at US$ 5,226.38 Million in 2021, projecting it to reach US$ 14,546.36 Million by 2028. This translates to a CAGR of approximately 15.7% during the forecast period.
The North America Security Analytics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Security Analytics Market report:
The North America Security Analytics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Security Analytics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Security Analytics Market value chain can benefit from the information contained in a comprehensive market report.
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