Skip to main content

IoT Applications Drive Demand for Security Analytics

Apps for the Internet of Things (IoT) technologies will create huge amounts of data. That valuable asset is frequently the target of criminals that seek to exploit this rapidly growing resource. It's a scenario where the battleground continues to shift.

Amid the turmoil of these cybersecurity threats and ongoing hacking attempts that leverage the power of the IoT against itself, more organizations are forced to realize that they are on the losing side of this war.

As such, IT vendors have no choice but to enhance their cybersecurity arsenal with more sophisticated software tools which allow a deeper understanding of their users, devices, and systems.

Security Analytics Market Development

This momentum will drive the security analytics market toward an impressive revenue of $12 Billion by 2024, according to the latest worldwide market study by ABI Research.

Advanced-level data analytics, bolstered by technological advances in Artificial Intelligence (AI) systems, permeate every major market and digital security is, fortunately, no exception.

"The increased frequency and sophistication of cyber-attacks are causing the security ecosystem to flourish and push the industry into the hunt for more reliable, in-depth, and high-quality security analytics intelligence," said Dimitrios Pavlakis, industry analyst at ABI Research.

There are a few pervasive challenges for security analytics both in what they encompass and what they can and should offer, as well as how the technology should evolve.

“Most organizations understand security analytics as an elusive cluster of different technologies encompassing ‘a little bit of everything’. While on a top level they are somewhat correct on that respect, they, unfortunately, opt to pick whatever makes sense budget-wise,” explained Pavlakis.

The issue is not only that they choose a lower Total Cost of Ownership (TCO) over security, but also have unrealistic expectations about the intelligence-gathering and the level of cybersecurity readiness of their chosen solution.

However, it is rather insufficient to pick just one intelligence-gathering aspect of certain vital security tools, and many organizations are still unclear about what are the prerequisites for reliable sources of security intelligence.

The ABI Research latest study uncovered insight that the security analytics ecosystem must evolve towards providing truly interoperable solutions -- powered by advanced security analytics.

Outlook for Security Analytics Applications

The solution includes an amalgamation of intelligence gathered from Security Information and Event Management (SIEM) systems, User and Entity Behavior Analytics (UEBA), Intrusion Detection/Prevention Systems (IDS/IPS), Unified Threat Management (UTM), next-generation firewalls, a steady stream of API data from cloud vendors.

All system capabilities are integrated with powerful new innovative technologies such as cognitive computing and Natural Language Processing (NPL) classifiers.

A cohort of innovative vendors, each with a different specialization in security analytics, includes market leaders such as IBM, Cisco, and LogRhythm, and well as others like Crowdstrike, McAfee, Dartrace, and empow.

Popular posts from this blog

Digital Transformation Growth Defies Market Volatility

The forward-looking CEO's commitment to ongoing investment in Information Technology (IT) is persistent. Worldwide IT spending is forecast to total $4.4 trillion in 2022 -- that's an increase of 4 percent from 2021, according to the latest worldwide market study by Gartner, Inc.   "This year is proving to be one of the noisiest years on record for CIOs," said John-David Lovelock, vice president at Gartner . Regardless, digital transformation remains a high priority across the globe. Geopolitical disruption, inflation, currency fluctuations, and supply chain challenges are among the many market volatility factors vying for attention, yet contrary to what Gartner saw at the start of 2020, enterprise CIOs are accelerating IT investments in 2022. Digital Transformation Market Development As a result, purchasing and investing preferences will be focused on areas including data analytics, cloud computing, seamless customer experiences, and IT security. Inflation impacts on

IoT Device Management Demand Gains Momentum

More forward-thinking CIOs and CTOs are focused on the adoption of the Internet of Things (IoT). Management challenges are top of mind for those who have already deployed a large number of sensors and associated network edge devices. Device management services are evolving in response to a greater breadth of new device technologies such as edge intelligence and related connectivity solutions, as well as the customer scalability and security of IoT deployments. But forward-looking suppliers are also preparing for a world where 41.3 percent of the connected devices will be using some form of Low Power Wide Area (LPWA) technologies by 2026. IoT Device Management Market Development Since IoT customers increasingly need to manage a larger fleet of connected devices, ABI Research now forecasts that IoT device management services will exceed $36.8 billion in revenues by 2026. Standardization is beginning to play a bigger role in device management services, as more connected devices use LPWA t

Anywhere, Anytime Workplace Demand for SASE

The ongoing adoption of flexible working models within the enterprise market has significant implications for typical IT organizations that must now support knowledge workers and front-line employees that operate outside the corporate network perimeter. The global COVID-19 pandemic created IT networking and security challenges. The expansion of the distributed workforce, an increasing reliance on cloud computing infrastructure, and the requirement to securely connect online employees -- wherever they choose to work, at any given moment in time. Legacy IT solutions that have rigid network underlays and a requirement for on-premises infrastructure cannot adequately deal with these trends. This 'Anywhere, Anytime Workplace' led to demand for new Secure Access Service Edge (SASE) solutions, with networking and security delivered as-a-service. Anywhere, Anytime Workplace Market Development   Although converging networking and security capabilities offer enterprises a promising solut