Anomaly Detection Market is projected to Generate Huge Profits

Anomaly Detection Market

Anomaly detection can be defined as the identification and determination of details about the occurrence of an unusual pattern of network data that does not conform to the expected behavior. The occurrence of anomalies is a rare event, however, when it occurs, it may signify a large and significant threat, such as data theft, fraud, and cyber intrusion. Anomaly detection includes solutions, such as network behavior anomaly detection, network traffic analysis, network intelligence and security, risk mitigation and management, Identity and Access Management (IAM), threat intelligence and management, Data Loss Prevention (DLP), and Security Information and Event Management (SIEM).

The Anomaly Detection Market size is expected to grow from USD 2.08 billion in 2017 to USD 4.45 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.4%. The major forces driving the growth of the anomaly detection market include the increase in the adoption of anomaly detection solutions in software testing, the growth of data and emergence of High-Performance Data Analytics (HPDA), and the increase in cyber espionage and fraudulent activities.

The trending technologies, such as big data analytics, data mining and business intelligence, and machine learning and Artificial Intelligence (AI), play vital roles in the anomaly detection market. These technologies enable an enterprise to detect anomalies and reduce the risk of data loss and optimization of business processes. The emerging big data analytics-based anomaly detection solutions enable the processing of large volumes of data, learning of normal behavior of complex systems, and detection of anomalous behavior in data.

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The threat intelligence and management solution is expected to grow at the highest CAGR during the forecast period

As the network threat grows in quantity and complexity, enterprises need to continuously monitor their network to identify and prevent critical threats. A constant fight against malware, anomalous patterns, antivirus, threat intelligence, and management capabilities is required. Many companies are convinced that threat intelligence is one of the valuable tools to help them better understand their attackers. The first step for an organization that decides to enhance its information security capabilities with threat intelligence is to choose the sources of intelligence.

The IT and telecom segment is expected to be the fastest growing application area in the anomaly detection market during the forecast period

Information and Communication Technology (ICT) has become a part of the daily activities for industries, governments, families, and consumers. It has become a major driver for the economic and social growth. Cyber criminals have started using encrypted malwares, threat, and antiviruses to hold companies’ data and individuals’ critical data hostage. These attacks were not only limited to Personal Computers (PCs), but also attacked smart phones, Mac, and Linux systems. To ensure the safety of their critical infrastructure, telecom organizations and IT service providers are boosting up the cybersecurity budgets significantly, aligning their business strategies with cybersecurity plans, and creating cyber awareness programs for employees and customers.

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