New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- As per the research report “Prescriptive Security Market” published by Reports Insights, the market was worth USD 53.2 Billion in 2022 and is projected to reach over USD 79.8 Billion by the year 2030, registering a CAGR growth of 5.2%.
Prescriptive security is a blended version of artificial intelligence and automation technologies created to support the effective detection of cybersecurity incidents and threats. Such security solutions play a critical role in major organizations to track any changes or irregularities within the business operations. Thus, the institutions implement such security based on the assessment of the risk profile of the business for the allotment of critical automation and human resources.
The rising security complexity in the emerging digital age is expected to boost the usage of such safety solutions. Furthermore, institutions on a global level have initiated large spending on preventive measures like prescriptive security to reduce the impact of cyber threats in severe cases. For instance, as per the IT governance of the UK, the annual costs of business organizations incurring losses by cybercrimes are anticipated to reach over USD 6 trillion by 2021. Thus, organizations have opted for security solutions for addressable cybersecurity concerns.
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| Report Attributes | Report Details |
| Market Size By 2030 | USD 79.8 Billion |
| Study Timeline | 2018-2030 |
| CAGR (2022-2030) | 5.2% |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Report Coverage | Total Revenue Forecast, Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Business Strategies, and more |
| By Deployment | Hosted, and On-Premises |
| By Application | Incident Detection, Pattern Recognition, Surveillance |
| By End Use | Intelligent Agencies, Public Transport Security, Critical Infrastructure Security, Border Control, and Others |
| Major Players | Hexagon, Cisco Systems Inc., Nice Systems LTD, IBM, NEC Corporation, SAS Institute Inc., Splunk Inc., Verint systems, ATOS, and SAP ERP |
| By Geography | Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru] |
Key Market Highlights
- The global prescriptive security market size is anticipated to hit around USD 79.8 billion by 2030 and register a CAGR of 5.2% during the forecast period (2022-2030).
- Globally, the prescriptive security is bifurcated based on the deployment: hosted, and on-premises.
- In the context of application, the market is categorized into incident detection, pattern recognition, and surveillance.
- Based on End Use, the market share is separated into four groups: intelligent agencies, public transport security, critical infrastructure security, and border control.
- The market is geographically separated into five regions: Europe, North America, the Asia-Pacific, South America, and the Middle East and Africa.
- North America and Europe are estimated to support industry growth during the forecast period in terms of increased revenue and volume.
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Prescriptive Security Market Segmentation Analysis:
Based on deployment, the hosted segment is expected to contribute a significant market share during the forecast period. The high dependence on hosted or cloud-based networks for facilitating business operations in any environment has resulted in large adoption among organizations.
Based on application, the pattern recognition segment is projected to contribute an increased share to the market growth during the forecast period. The automation and AI technologies integrated into the security systems analyze the anomalies or irregularities in the business patterns. Thus, the increased applications of pattern recognition are signal processing, statistical data analysis, information retrieval, image analysis, bioinformatics, data compression, and machine learning.
Based on the end-user, the intelligent agencies contributed a major market share in terms of volume. The growing concerns about compromised securities among authoritative organization has increased the implementation of prescriptive security. Additionally, the protection of vulnerable confidential information related to the nation’s security needs to be defended from any cyberattacks. Thus, such organizations adopt prescriptive security solutions to identify and remove any anomaly at the earliest before incurring a further physical or financial loss.
Based on region, North America is expected to support the market growth in terms of revenue. The large presence of market players coupled with the increased adoption of such security solutions among public and private institutions has experienced a significant increase during the forecasted period. Furthermore, the government also initiates a large expenditure on the deployment of dedicated groups for monitoring potential cyber threats.
Market Competitive Landscape
The market research report on the prescriptive security industry comprises the parameters considered for getting a complete outlook of the market. The factors such as brand awareness, industry trends, possible future scope, and customer behavior are analyzed in detail to sketch actionable market insights. Furthermore, the market definition, research methodology, regional analysis, and market segmentation are analyzed to provide a comprehensive market evaluation.
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List of Major Prescriptive Security Market Players
Lastly, the market research report comprises the country and regional analysis along with the latest market trends, that aids in understanding the company profiling of major players functioning in the market —
• Hexagon
• Cisco Systems Inc.
• Nice Systems LTD
• IBM
• NEC Corporation
• SAS Institute Inc.
• Splunk Inc.
• Verint systems
• ATOS
• SAP ERP
Global Market Segmentation:
By Deployment
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-
- Hosted
- On-Premise
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By Application
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- Incident Detection
- Pattern Recognition
- Surveillance
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By End Use
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- Intelligent Agencies
- Public Transport Security
- Critical Infrastructure Security
- Border Control
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