Anomaly Detection Market Size, Opportunities, Growth Rate, Development Trend and Feasibility Studies 2021 to 2030

In a recent published report, Kenneth Research has updated the market report for Anomaly Detection Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Anomaly Detection Market products.

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The Anomaly Detection Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market synopsis

Anomaly detection can be termed as a process to identify anomalies such as an unusual shift in the process or event in an operation that does not follow the expected pattern or dataset. These shift in the usual pattern of the event is the major cause of a fault, defect or an error in the process. Anomaly detection is widely used for applications such as intrusion detection, fraud detection, system, health monitoring, and many others in a similar ecosystem. The major factor contributing to the growth of anomaly detection market is the growing number of connected devices in a network. The larger the network, more chances of traffic congestion leading to unusual patterns in the network. Anomaly detection identifies these strange patterns in network traffic that could be a major reason for intrusion detection, cyber-attacks, and fraud detection.

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On the basis of service type, the market is segmented into professional service and managed service. The professional service is further segmented into installation and maintenance, support & maintenance and consulting service.On the basis of the solution, the market is segmented into network behavior anomaly detection and user behavior anomaly detection.On the basis of the deployment, the market is segmented into the cloud and on the premiseOn the basis of application, the market is segmented into Intrusion detection, fraud detection, system health monitoring, fault detection and others.On the basis of vertical, the market is segmented into banking and financial services, retail, manufacturing, IT and telecom, Government, Aerospace and defense, healthcare, and othersOn the basis of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.

Regional analysis

The global anomaly detection market is estimated to grow at a promising rate during the forecast period. The geographical analysis of anomaly detection market is spanned across North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and South America). Among all the regions, the market is highly dominated by North America due to growing trends like BYOD, which encourages the employees to bring their device to work in the office. This trend is highly adopted in large enterprises resulting in improved performance and productivity.

However, BYOD has also led to an increase in anomaly due to connected devices and internet of everything, resulting in a higher case of a network breach. Moreover, North America has the higher concentration of companies providing solutions, services, and software for anomaly detection. These vendors include large enterprises like IBM, Cisco as well as many start-ups. Higher adoption of anomaly detections in government and security agencies is also leading the development of anomaly detection market in North America. The United States is a major contributor from the North American region.

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Europe, on the other hand, is closely following North America in Anomaly detection market. Europe and North America are the technologically advanced regions, and a major factor affecting the growth of this market in Europe is the investments by various key player in this region. This has led many new small businesses to grow and partner with large vendors to provide services. Asia Pacific is expected to be the fastest growing region due to increasing development in Information and Technology sector.

Key players

The prominent players in the market of Anomaly Detection are- International Business Machines Corporation (U.S.), SAS Institute, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Dell Technologies, Inc. (U.S.), Hewlett Packard Enterprise Company (U.S.), Symantec Corporation (U.S.), Trend Micro, Inc. (Japan), Splunk, Inc. (U.S.), Wipro Limited (India), Securonix, Inc. (U.S.), Gurucul (U.S.), Happiest Minds (India), and Guardian Analytics (U.S.).

Other vendors include Sensewaves (France), NewSky Security (U.S.), Cryptomage (Poland), Acerta (Canada), Nexosis (U.S.), RazorSecure (UK), Sentryo (France), Cycuro (Israel), Anodot (Israel), Scaled Inference (U.S.), ThetaRay (Israel), Allure Security Technology (U.S.), OtoSense (France), Prelert (U.S.), Arundo Analytics (U.S.), Coscale (Belgium), Aqua-Q (Sweden), PatternEx (U.S.), Cloudmark (U.S.) among others.

The prominent players keep innovating and investing in research and development to present a cost-effective portfolio to strengthen their reach to their customers.

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Intended Audience

Network security and solution providers

Data security providers

Cloud service providers

System integrators

Application developers

Software developers

Research and consultancy firms

Government Agencies

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