The Latin America, Middle East and Africa Security Analytics Market would witness market growth of 25.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Security Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,202.9 million by 2031. The Argentina market is registering a CAGR of 26.6% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 24.7% during (2024 - 2031).
The adoption of security analytics across various sectors is driven by the need to enhance cybersecurity measures, comply with regulations, and leverage advanced technologies for proactive threat detection and response. Security Information and Event Management (SIEM) systems are commonly used for logging and monitoring security events.
Moreover, security analytics tools are designed to integrate seamlessly with SIEM solutions, enhancing their capabilities with advanced threat detection and predictive analytics. Many organizations still rely on legacy security systems. Security analytics can be layered over these existing systems to provide enhanced capabilities without a complete overhaul, making it a cost-effective solution.
The growing cybersecurity industry in Saudi Arabia is having a significant impact on the expansion of the security analytics market. In 2023, Saudi Arabia ranked second in the Swiss-based International Institute for Management Development (IMD)’s Global Cybersecurity Index, reflecting its commitment to enhancing cybersecurity measures and capabilities. Additionally, the nation achieved a commendable 17th position in overall competitiveness, showcasing its efforts to foster a robust digital economy.
Free Valuable Insights: The Worldwide Security Analytics Market is Projected to reach USD 57.9 Billion by 2031, at a CAGR of 23.7%
Based on Organization Size, the market is segmented into Large Enterprise, and Small & Medium Enterprise (SME). Based on Application, the market is segmented into Network Security Analytics, Endpoint Security Analytics, Web Security Analytics, Application Security Analytics, and Other Application. Based on Component, the market is segmented into Solutions, and Service (Managed Services, and Professional). Based on Vertical, the market is segmented into BFSI, Telecom & IT, Healthcare, Retail, Government & Defense, Manufacturing, and Other Vertical. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Organization Size
By Application
By Component
By Vertical
By Country
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