LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global security intelligence and analytics solutions market to grow at a CAGR of over 10% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global security intelligence and analytics solutions market for 2016-2020. The report also lists security intelligence and security analytics as the two main product segments, with security intelligence accounting for more than 71% of the market share.
Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global security intelligence and analytics solutions market:
- Rise in number of attacks
- Increased complexity of attacks
- Increasing demand from mobile devices
Rise in number of attacks
Most internet service providers have a distributed architecture hence, a security solution at the network level cannot limit the threat of attacks. Most attacks on systems originate from the web. For consumers, most threats are sourced from web interactions and peer-to-peer usage. As these threats target specific systems, they are difficult to detect and prevent at the network level. Therefore, end-users are increasingly adopting security intelligence and analytics solutions at a rapid pace, as these solutions help in detecting and eliminating the threats.
According to Amrita Choudhury, a lead analyst at Technavio for IT security research, “Security breaches pose the threat of loss of end-user data and will lead potential customers away from the company as well as erode the brand image and equity of the company. Thus, investments in threat intelligence security have considerably increased due to increased need for enterprises to preserve their reputation and brand image.”
The threat intelligence system can cope with advanced attacks and effectively secure the business environment. Hence, enterprises that are looking for business transformation are heavily investing in security intelligence and analytics solutions.
Increased complexity of attacks
The complexity of threats directed toward end-users is increasing. For instance, threats such as advanced persistent threats are on the rise. Unlike the traditional threats that were individual in nature and were targeted at a single system, these threats are targeted at a whole setup. Furthermore, they have the capability to bring down the infrastructure of a whole entity. Hence, to counter these attacks, which are increasing in both frequency and complexity, end-users are adopting security analytics solutions at a rapid pace.
Increasing demand from mobile devices
Growing use of mobile devices such as laptops, smartphones, and other handheld devices is contributing to the growth of the market. The increased use of mobile devices leads to the storage of critical information and easy access to this information. This increases the need to protect these devices.
In addition, a rise in employee mobility is leading to increased use of mobile devices in enterprises. “However, these mobile computing devices are self-supported when they are disconnected from a network which presents an increased security risk. They need protection that is independent of the network-level security present in a company's server, so as to protect both the offline and the online data,” says Amrita.
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