Valued to be $8.6 Billion by 2026, Anomaly Detection Slated for Robust Growth Worldwide

SAN FRANCISCO , March 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Anomaly Detection - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 5; Released: March 2022
Executive Pool: 5382
Companies: 94 - Players covered include Cisco Systems, Inc.; Dell Technologies; Flowmon Networks A.S.; Greycortex s.r.o.; Guardian Analytics; Gurucul; Hewlett Packard Enterprise Development LP (HPE); HHappiest Minds Technologies; IBM Corporation; SAS Institute, Inc.; Splunk, Inc.; Symantec Corporation; Trustwave Holdings, Inc.; Varonis Systems, Inc.; Wipro Lighting and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services); Technology (Big Data Analytics, Data Mining & Business Intelligence, Machine Learning & Artificial Intelligence); End-Use (BFSI, IT & Telecom, Government & Defense, Manufacturing, Healthcare, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Anomaly Detection Market to Reach US$8.6 Billion by the Year 2026
Anomaly detection, also referred to as outlier detection, in data mining, refers to the identification of observations, events or items that are rare and which create suspicions by way of being significantly different from majority or rest of data. Detecting anomalies or abnormalities in datasets, in the early stages of their occurrence is critical. Growth in the global market is attributed to increasing incident of internal threats and cyber frauds that have established anomaly detection as a mega trend with universal recognition. These solutions are gaining traction among businesses to detect strange patterns in network data traffic indicating hacking attempt and fraudulent activities. The use of anomaly detection is not only limited to fraud detection in online transactions, but also entails detection of faults in operating environments. Anomaly detection is finding increasing attention from proliferation of the IoT and growing demand for advanced solutions to monitor associated use cases. The market growth is favored by increasing use of anomaly detection solutions in software testing along with rising attention on high-performance data analysis (HPDA). Global demand for anomaly detection is also attributed to increasing introduction of advanced solutions with new functions and features. Various companies serving the market are exploiting machine learning and AI technologies for developing solutions intended to assist users in quickly identifying abrupt changes in patterns and behavior.

Amid the COVID-19 crisis, the global market for Anomaly Detection estimated at US$4.8 Billion in the year 2022, is projected to reach a revised size of US$8.6 Billion by 2026, growing at a CAGR of 15.8% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 16.4% CAGR to reach US$7.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 14.2% CAGR for the next 7-year period. This segment currently accounts for a 27.9% share of the global Anomaly Detection market.

The U.S. Market is Estimated at $2.1 Billion in 2022, While China is Forecast to Reach $997.4 Million by 2026
The Anomaly Detection market in the U.S. is estimated at US$2.1 Billion in the year 2022. The country currently accounts for a 43.18% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$997.4 Billion in the year 2026 trailing a CAGR of 16.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15% and 14.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.9% CAGR while Rest of European market (as defined in the study) will reach US$545.5 Million by the close of the analysis period. North America maintains the leading position in the global anomaly detection market owing to extensive uptake of the cloud and IoT technology, the bring-your-own-device (BYOD) trend and the presence of major players. The BYOD culture in the region along with proliferation of IoT and connected devices is resulting in high incident of anomalies and network breach. The trend is prompting an increasing number of organizations to embrace anomaly detection solutions and services for safeguarding business-critical information. The regional market is also gaining from high uptake of anomaly detection services among security and government agencies. Europe represents the second-leading market for anomaly detection due to technological advancements and significant investments by companies to come up with new solutions. In addition, various small-sized companies are partnering with major vendors for offering better solutions and extending their customer base. On the other hand, the anomaly detection market in Asia-Pacific is predicted to register the fastest growth owing to continuous expansion of the IT sector and increasing uptake of emerging technologies like the IoT, cyber-security, the cloud, augmented reality and big data & analytics.
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Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.