Market Definition
Prescriptive security is a security model that defines a set of security controls and procedures that should be implemented in order to protect an organization’s assets. The model is based on the assumption that there is a finite set of security risks that can be mitigated through the implementation of specific security controls. The prescriptive security model has been criticized for being too rigid and inflexible, as it does not take into account the constantly changing nature of security threats. Additionally, the model does not account for the fact that different organizations have different security needs. As a result, the prescriptive security model is not always applicable to all organizations.
Market Outlook
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.
The key restraints and challenges in the prescriptive security market include the lack of awareness about the benefits of prescriptive security among small and medium enterprises (SMEs), and the lack of skilled security analysts. Other restraints include the high cost of prescriptive security solutions and the lack of integration of prescriptive security solutions with existing security solutions. The lack of awareness about the benefits of prescriptive security among SMEs is a major challenge for the growth of the prescriptive security market. SMEs are the major target market for prescriptive security solutions, but they are unaware of the benefits offered by these solutions. This is a major challenge for the growth of the prescriptive security market, as SMEs are the major target market for these solutions.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Market Segmentation
The report analyses the global prescriptive security market based on deployment, application, end-user, and region.
Global Prescriptive Security Market by Deployment
By deployment, the market is segmented into Hosted, and On-premises. In 2022, 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.
Global Prescriptive Security Market by Application
By application, the prescriptive security market is classified into Incident Detection, Pattern Recognition, and Surveillance. In 2022, 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.
Global Prescriptive Security Market by End-user
The end-use segment of the market is bifurcated into Public Transport Security, Critical Infrastructure Security, Border Control, and Others. In 2021, 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.
Geographical Analysis of Global Prescriptive Security Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest revenue share in 2022. 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.
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Major Players
The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The major strategies followed by the market participants are Product Launches. Companies such as ATOS, Cisco System Inc., are some of the key innovators in Prescriptive Security Market.
The key players in the prescriptive security market are ATOS, Cisco System Inc., ESRI, Hexagon, IBM, NEC Corporation, Nice Systems Ltd., SAS Institute Inc., SAP ERP, and Splunk Inc., among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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