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Anomaly detection is the identification of data points, items, observations or events that do not conform to the expected pattern of a given group. Anomaly detection is used in behavioral analysis and other forms of analysis in order to aid in learning about the detection, identification and prediction of the occurrence of these anomalies. The benefits of anomaly detection includes the ability to monitor any data source, rapidly identify zero-day attacks as well as unknown security threats, find unusual behavior across data sources, and discovers anomalies in event stream.
The major vendors in the anomaly detection market include Wipro Limited (India), Cisco Systems, Inc. (US), International Business Machines Corporation (US), Hewlett Packard Enterprise Company (US), Dell Technologies, Inc. (US), SAS Institue, Inc. (US), Symantec Corporation (US), Anodot (Israel), Happiest Minds (India), and Guardian Analytics (US).
North America is expected to hold the largest market share and dominate the anomaly detection market during the forecast period. The region has a presence of the major sustainable and well-established economies, who invest substantially in Research and Development (R&D) activities, thereby contributing to the development of new technologies. The region comprises countries, such as the US and Canada, which are witnessing a phenomenal adoption of anomaly detection solutions.
The growing trends, such as Bring Your Own Device (BYOD), Internet of Things (IoT), and Industrial Internet of Everything (IIoE), have resulted in a tremendous growth of technology adoption in this region; they have also triggered a rise in next-generation threats, and added more complexities and concerns in the IT infrastructure. North America has always topped the list of the most affected regions in the world by threats, intrusions, and security breaches, and as a result, it has the largest number of security vendors.
However, high cost of investment, complex analytical workflow, data integrity and safety concerns and lack of trained professional is restraining the prescriptive analytics market.
Market Dynamics:
Market Drivers 1.1 Need for anomaly detection in streaming data from assets and optimization of business processes
1.2 Growing adoption of black box trading by market traders
1.3 Increasing data rate
1.4 Rise in cyber espionage and fraudulent activities
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