Rising Cybersecurity Threats Seen Driving $12 Billion Security Analytics Market

Increased cybersecurity threats and rampant hacking attempts “that leverage the power of the IoT against itself” are forcing vendors to bolster cybersecurity efforts with more sophisticated tools based on artificial intelligence, driving a security analytics market estimated to reach $12 billion by 2024, ABI Research reported Wednesday. “Increased frequency and sophistication of cyber-attacks are causing the security ecosystem to flourish and push the industry into the hunt for more reliable, in-depth, and high-quality security analytics intelligence,” said analyst Dimitrios Pavlakis. Challenges include understanding the scope of security analytics and how technology should evolve, Pavlakis said, and many organizations are unclear on prerequisites for reliable sources of security intelligence.