Anomaly Detection Market Overview, Outlook, Size, Share 2024-2033 |

The anomaly detection market size has grown rapidly in recent years. It will grow from $4.94 billion in 2023 to $5.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to customer experience and service optimization, regulatory compliance, industrial and manufacturing process monitoring, healthcare and medical diagnostics, financial fraud prevention, iot and sensor data..

The anomaly detection market size is expected to see rapid growth in the next few years. It will grow to $10.07 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to customer experience enhancement, compliance and regulatory requirements, industrial and manufacturing process optimization, rapidly growing data complexity, cybersecurity threat evolution, advancements in ai and machine learning. Major trends in the forecast period include advanced ai and machine learning techniques, real-time anomaly detection, explainable ai in anomaly detection, unsupervised and semi-supervised learning, interdisciplinary applications..

Market Overview -
Anomaly detection refers to the detection of unexpected occurrences, observations, or objects that greatly depart from the usual. Another name for it is outlier detection. Standard deviations, outliers, noise, novelty, and exceptions are other names for data anomalies.

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Surge In Connected Devices Fueling Anomaly Detection Market Growth
The increasing number of connected devices is expected to propel the growth of the anomaly detection market going forward. Connected devices are physical smart devices that can be connected via the internet with each other to share data and information within an organization. Anomaly detection is commonly used on connected devices for monitoring the devices connected to a network and to protect data traffic in an organization or household. For instance, according to an article published by DataProt, a US-based website dedicated to providing information about cybersecurity products, in 2021, there were more than 10 billion active connected devices in the world which are expected to surpass 25 billion connected devices by 2030. Therefore, the growing number of connected devices is driving the anomaly detection market growth.

Competitive Landscape -
Major companies operating in the anomaly detection market report are SAS Institute Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Company, Symantec Corporation, Trend Micro Incorporated, Splunk Inc., Wipro Limited, Securonix Inc., Gurucul Solutions LLC, Guardian Analytics Inc., Happiest Minds Technologies Pvt Ltd, International Business Machines Corporation, Verint Systems Inc., Anodot Ltd., Microsoft Corporation, Flowmon Networks a. s., LogRhythm Inc, Rapid7 Inc., Trustwave Holdings Inc., Varonis Systems Inc, WSO2 Inc., Datadog Inc., Darktrace Limited, Sumo Logic Inc., ExtraHop Networks Inc., McAfee Corp., Exabeam Inc., Vectra AI Inc., Fortinet Inc., Plixer International Inc., SolarWinds Worldwide LLC, Fair Isaac Corporation, RapidMiner Inc., TIBCO Software Inc., Veriato Inc., LogicMonitor Inc., Cybereason Inc., Uptycs Inc., Awake Security Inc., ThreatConnect Inc., New Relic Inc.

Technological Advancements Transforming The Anomaly Detection Market
Technology advancement is a trend gaining popularity in the anomaly detection market. The major companies operating in the anomaly detection market are focused on developing technologically advanced products to strengthen their market position. For instance, in February 2020, Cisco Systems, a US-based technology company, introduced its advanced new machine learning capabilities for IoT control management known as Cisco Cyber Vision. It is based on the Cisco IOx network operating system, which offers both information technology (IT) and operational technology solutions capable of collaborating to provide cyber threat protection within existing IT security tools and industrial operations. It would be used to optimize billing and improve data security by providing anomaly detection and smart billing options in connectivity management platforms for clients using new wireless technologies such as 5G, Wi-Fi 6, and new advanced IoT industrial devices, increasing customer satisfaction.

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Key Segments -

The anomaly detection market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Technology: Big Data Analytics, Data Mining and Business Intelligence, Machine Learning and Artificial Intelligence
3) By Deployment Type: Cloud, On-Premises, Hybrid
4) By Application: Intrusion Detection, Fraud Detection, Defect Detection, System Health Monitoring
5) By Vertical: Banking, Financial Services, and Insurance (BFSI), Retail, Manufacturing, IT and Telecom, Government, Aerospace and Defence, Medical Care, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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