- Anomaly detection is widely used for applications such as intrusion detection, fraud detection, systems, and health monitoring.
- The market is highly dominated by North America due to growing trends like BYOD.
- Anomaly detection can be used to identify strange patterns in network traffic that could be a major reason for intrusion detection, cyber-attacks, and fraud detection.
Anomaly Detection Market Catching Onnomaly detection is 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 data set. A shift in the usual pattern of the event is likely a major result 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.
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.).
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.
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On the basis of the deployment, the market is segmented into the cloud and on the premises. On 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 others.
The global Anomaly Detection Market is expected to grow at a promising rate during the forecast period. The geographical analysis of Anomaly Detection Market spans 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 detection 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.
Europe, on the other hand, is closely following North America in the 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.