Anomaly detection refers to a process used for the identification of anomalies like an unfamiliar shift in the process or event in an process that does not follow the expected pattern or dataset. Such a shift in the pattern of the event is one of the major causes of a fault, detect, or an error in the process. Anomaly detection is broadly used for the applications of fraud detection, intrusion detection, and health monitoring, among many other applications in a similar ecosystem.
One of the major factors driving the global anomaly detection market is the upscaling number of connected devices in a network. A larger network creates a higher possibility of traffic congestion, which is leading to unusual patterns in the network. Anomaly detection identifies with strange patterns in network traffic that are expected to be one of the major reasons behind intrusion detection, fraud detection, and cyber-attacks. The global anomaly detection market is estimated to reach a market valuation of USD 5 million by the end of the forecast period. Such growth is estimated to drive the market to witness a 15% CAGR over the forecast period.
Impressive growth in the global anomaly detection market is also attributable to the emergence of high-performance data analysis to monitor the functionality of the software. In addition, the growing trend of Bring Your Own Device (BYOD), is expected to fuel the market growth over the review period. However, a threat from open-source alternatives, lacking skilled workforce, and the occurrence of asymmetric faults in open source models and high costs is expected to set the global anomaly detection market on a remarkable growth trajectory.
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The global anomaly detection market is segmented by service type, solution, deployment, application, and industry vertical. Based on type, the global anomaly detection market is segmented into managed services and professional services. The professional services segment is further segmented into support & maintenance, installation and maintenance, and consulting service.
Based on the solution, the global anomaly detection market is segmented into user behavior anomaly detection and network behavior anomaly detection. By application, the market is segmented into fraud detection, intrusion detection, fault detection, and system health monitoring. Based on industry vertical, the market is studied for the segments of IT and telecommunication, retail, banking and financial services, government, aerospace and defense, and healthcare.
Some notable players present in the global Anomaly Detection Market include 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.).
Detailed Regional Analysis
The global anomaly detection market is segmented into the regions of North America, Asia Pacific (including Australia and New Zealand) Europe (including Russia), and the rest of the world (including the Middle East, Africa, and South America). Among these regional segments, North America is estimated to hold a dominant share of the market. This can be owed to the upscaling trends of BYOD, which is expected to encouraging employees to bring their own devices to work in the office. However, BYOD is also known to increase the anomaly owing to the connected devices and the internet of things, which is resulting in a larger case of a network breach.
Moreover, North America is anticipated to have a higher adoption in larges enterprises, which in turn is expected to augment the performance and productivity of the region. Vendors residing in the region include large enterprises such as Cisco, IBM, and many start-ups. Higher adoption of anomaly detections in government and security agencies is also one of the leading causes of the development of the market for anomaly detection North America.
LIST OF TABLES
Table1 World Population By Major Regions (2018 To 2023)
Table2 Global Anomaly Detection Market: By Region, 2018-2023
Table3 North America Anomaly Detection Market: By Country, 2018-2023
Table4 Europe Anomaly Detection Market: By Country, 2018-2023
Table5 Asia Pacific Anomaly Detection Market: By Country, 2018-2023
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LIST OF FIGURES
FIGURE 1 Global Anomaly Detection Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Anomaly Detection Market
FIGURE 4 Value Chain Of Global Anomaly Detection Market
FIGURE 5 Share Of Global Anomaly Detection Market In 2018, By Country (In %)
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