Anomaly Detection Market worth USD 4.47 billion by 2022

Anomaly Detection Market Analysis Size, Growth rate and Overview:

Anomaly Detection Market was valued at USD 2.07 billion in 2017 and is expected to reach almost USD 4.47 billion by the end of 2022, growing at a CAGR of around 16.7% over the predicted period.

Anomaly detection can be termed as a means to identify abnormal conditions such as an unusual shift in the processor event in an operation that does not follow the familiar pattern or dataset. This shift in the usual pattern of the event is the main cause of a fault, defect or an oversight in the process. Anomaly detection is widely used for utilization such as intrusion detection, fraud detection, health monitoring, and many others in a similar ecosystem.

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Anomaly Detection Market Key Drivers, Challenges, and Opportunities:

The main factor contributing to the growth of anomaly detection market is the increasing number of connected devices in a network. The larger the network, more are the chances of traffic congestion, which lead to unusual patterns in the network. Anomaly detection recognizes these strange patterns in network traffic that could be a major cause for intrusion detection, cyber-attacks, and fraud detection.

The need for security intelligence around imposition and fraud detection, cyber espionage, and internal warnings has triggered the adoption of anomaly detection solutions among companies. In addition, network diagnosis and data cleanup needed for High-Performance Data Analytics (HPDA) and software testing, are other circumstances contributing to the uptake of anomaly detection solutions globally.

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Anomaly Detection Market – Regional Presence:

North America is expected to hold the highest market share and dominate the global anomaly detection market during the projected period. The region has a presence of the higher sustainable and well-established economies, who spend substantially in Research and Development (R&D) activities, through contributing to the development of new technologies. The region comprises countries like the US and Canada, which are witnessing a phenomenal selection of anomaly detection solutions. The growing trends, such as Bring Your Own Device (BYOD), Internet of Things, and Industrial Internet of Everything (IIoE), have resulted in a tremendous increase in technology adoption in this region; which have also triggered a rise in next-generation threats, and added more complexities and companies in the IT infrastructure. North America has topped the list of the most affected regions in the world by warnings, intrusions, and security breaches, and as a result, it has the highest number of security vendors.

Some of the Key Players Profiled in this Anomaly Detection Market Report are:

Wipro Limited, Cisco Systems, Inc.,Hewlett Packard Enterprise Company, Dell Technologies, Inc.,SAS Institute, Inc, Symantec Corporation, Godot, International Business Machines Corporation, Happiest Minds, and Guardian Analytics.

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