Anomaly Detection Market is expected to grow at a CAGR of 16.1 reaching USD 13.34 Bn in 2029 Cybersecurity, Technological Advancement and Digitization

December 07 05:20 2022
Anomaly Detection Market is expected to grow at a CAGR of 16.1 reaching USD 13.34 Bn in 2029 Cybersecurity, Technological Advancement and Digitization
Anomaly Detection Market
Anomaly Detection Market was valued at USD 4.04 Billion in 2021, and it is expected to reach USD 13.34 Billion by 2029, exhibiting a CAGR of 16.1% during the forecast period (2022-2029)

Pune, 06, Dec2022: Anomaly Detection Market is driven by the growth in AI and its application in a wide range of industries. The report on Anomaly Detection Market analysed by Maximize Market Research covers a detailed competitive and regional analysis of the market. The Anomaly Detection Market is expected to grow from USD 4.04 billion in 2021 to USD 13.34 billion in 2029, at a CAGR of 16.1 percent for the forecast period from 2022 to 2029. 

Anomaly Detection Market Scope and Research Methodology

The report on the Anomaly Detection Market analyses all the major players, key factors and opportunities prevailing in the market. Current trends and highlights are provided in the report to get an understanding of the underlying factors affecting the market. In the report, the current market size with forecasts is provided. The aid this, the growth rate with potential fluctuations in the market is presented with the help of easy to understand graphs and tables. To understand the interplay of various factors affecting the Anomaly Detection Market, the report explains in detail the drivers, challenges, opportunities and challenges in the Anomaly Detection Market. Regional analysis of the Anomaly Detection Market is conducted at a local, regional and global level covering major countries and manufacturers in the region. This helps market leaders, followers and entrants to understand which region dominates the market along with its reasons.

To get an edge over other players in the Anomaly Detection Market, the report is equipped with a competitive analysis encompassing all the major players and new entrants by region, segment, revenue, financial status, portfolio, technological advancements adopted, new breakthroughs in the industry, social media presence, mergers and acquisitions, joint venture and strategic alliances. Such an analysis provides an in-depth comparison between the key players in the Anomaly Detection Market. It helps investors and businesses devise investment strategies and marketing tactics to differentiate their products and spot industries that drive the Anomaly Detection Market. It also explains the competitive market structure and market penetration.

The market size of the Anomaly Detection Market was validated by segments using the bottom-up approach and further backed by the data collected. Data collection was carried out by primary and secondary methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.

SWOT analysis was carried out to study the dynamic Anomaly Detection Market and understand its strengths, weaknesses, opportunities and threats in the market. To understand the macro factors affecting the Anomaly Detection Market at a global level, PESTLE was conducted to grasp the external factors impacting the Anomaly Detection Market.

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Anomaly Detection Market Overview

Anomaly detection is the process of identifying outliers in a data set during data mining. These data points, events or observations can lead to discrepancies in the data set and cause technical glitches. An anomaly is an unexpected event or a change within the data that is different from the expected turn of events. An example of the same could be a deviation from the usual business. It is commonly used to detect fraud in a transaction, manufacturing, glitch in a computer network, medical problems and predictive maintenance.

Anomaly Detection Market Dynamics

Awareness about cybersecurity has been increasing with the rapid spread of the internet. Companies are increasingly adopting anomaly detection to identify deviations in network data that could potentially be a hacking attempt. The growth in the IT sector is also driving the growth of the Anomaly Detection Market. Its increased usage in software testing to find defects and the rise in data analytics is also a factor driving the Anomaly Detection Market growth. The massive growth of AI provides clients not only with novel solutions but also identifies the changes in behavioural patterns. Such wide-ranging application is expected to increase the Anomaly Detection Market demand over the forecast period.

The market is also gaining popularity in the BFSI industry since it helps them detect any changes in human behavioural patterns. The growth and rapid adoption of machine learning in various sectors are also increasing the demand for the Anomaly Detection Market.

Anomaly Detection Market Regional Insights

North America is expected to dominate the Anomaly Detection Market over the forecast period. Factors encouraging this growth include the rise of the Bring Your Own Device (BYOD) trend in the region along with the increased usage of smart devices and the growth of the industrial internet of things. The concentration of large firms in the region has boosted investment, resulting in the growth of the Anomaly Detection Market regional growth.

The Asia-Pacific region is expected to be a lucrative market because of the rapid adoption of technology. The region is expected to grow at a fast growth rate and witness new breakthroughs with research and development. 

Anomaly Detection Market Segmentation: 

By Component:

  • Solution
  • Network behaviour anomaly detection
  • User behaviour anomaly detection
  • Services
  • Professional services
  • Managed services

By Deployment: 

  • Automotive
  • Chemical
  • Agriculture
  • Oil and Gas
  • Research and Development
  • Others

By Technology:

  • Big data analytics
  • Data mining and business intelligence
  • Machine learning and artificial intelligence

By Vertical: 

  • BFSI
  • Manufacturing
  • Retail
  • Healthcare
  • Government
  • IT & Telecom
  • Others

Anomaly Detection Market Key Competitors include: 

  • Anodot, Ltd.
  • Cisco Systems, Inc.
  • Guardian Analytics
  • SAS Institute Inc
  • Symantec Corporation
  • Trustwave Holdings, Inc
  • Wipro Limited
  • TIBCO Software Inc.
  • Crunch Metrics
  • Dynatrace LLC
  • Microsoft
  • Zoho Corp.
  • SolarWinds Worldwide, LLC
  • Flowmon Networks
  • Accenture
  • Avora
  • Mechademy Incorporated.
  • Intel Corporation
  • Profit Software
  • Dell Technologies, Inc.
  • Happiest Minds Technologies Limited
  • Hewlett Packard Enterprise Development LP
  • International Business Machines Corporation
  • Microsoft Corporation
  • Nippon Telegraph and Telephone Corporation
  • Splunk, Inc.
  • Trend Micro Incorporated
  • Verint Systems Inc.

Key questions answered in the Anomaly Detection Market are: 

  • What is Anomaly Detection? 
  • What is the current growth rate of the Anomaly Detection Market?  
  • What is the growth rate of Anomaly Detection Market for the forecast period? 
  • What is the nature of competition in Anomaly Detection industry in developed and developing economies? 
  • Who are the key players in the Anomaly Detection Market?
  • Who are the market leaders in Anomaly Detection in Europe?
  • Who are the market leaders in Anomaly Detection in USA and Canada?
  • Who are the market leaders in Anomaly Detection in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Anomaly Detection Market? 
  • Who held the largest market share in Anomaly Detection Market? 
  • What are the factors for the growth of Asia-Pacific region in Anomaly Detection Market?

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Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Component, Deployment, Technology, Vertical and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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