The Global Anomaly Detection Market size is expected to reach $13.4 billion by 2030, rising at a market growth of 15.9% CAGR during the forecast period

The digital economy has swiftly grown throughout the region of Asia Pacific as a result of a strong increase in e-commerce activity, online transactions, and digital services. Consequently, the Asia Pacific region will acquire approximately 1/4th share in the market by 2030.

New York, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Anomaly Detection Market Size, Share & Industry Trends Analysis Report By Deployment, By Technology, By Component, By End-Use, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06487614/?utm_source=GNW The need for anomaly detection has grown due to this expansion to identify and handle potential fraud, security flaws, and other anomalies in these digital transactions. The regional financial services sector is expanding rapidly because of growing banking services, fintech advancements, and a rise in digital payments. Anomaly detection is crucial for Anti-Money Laundering (AML) initiatives, fraud prevention, and legal compliance in this sector.The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 20223, Amazon Web Services Inc. expanded its partnership with Lacework Inc. to enhance security alerts and provide its clients an improved anomaly detection linked with Amazon Guard Duty findings. Additionally, In December, 2021, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company formed a collaboration with Pfizer, to develop a prototype solution for detecting abnormal data points in its drug product continuous clinical manufacturing platform for solid oral-dose medicines.Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Market. Companies such as Cisco Systems, Inc., Broadcom, Inc., Dell Technologies, Inc. are some of the key innovators in the Market. In March, 2022, Cisco Systems, Inc teamed up with NetApp to provide the joint customers of the two companies with automation, hybrid cloud operations, and visibility solutions.Market Growth FactorsIncreasing volume of data and connected devicesAnomaly detection is becoming increasingly necessary as the number of linked devices is increasing in banking, IT, healthcare, finance, manufacturing, and government & defense. The widespread use of IoT solutions that actively participate in various technological advancements significantly impacts the IoT industry. The market has seen an upsurge due to the increasing use of cloud-based IoT devices, which has increased competition to provide the best solutions to various end-use industries. Moreover, one of the main causes of the IoT industry’s enormous development is considerable government attempts to digitalize businesses and sectors.Artificial intelligence (AI) and machine learning (ML) advancementsThe ability to detect anomalies has substantially increased because of developments in AI and machine learning techniques. Artificial intelligence (AI) may aid in many ways, including automation, real-time analysis, scrupulosity, accuracy, and self-learning, when human resources are insufficient to handle the adaptable framework of cloud infrastructure, microservices, and containers. One of the greatest benefits of AI systems as well as ML-based solutions, is their ability to learn as they go along and provide better and more accurate results with each iteration. Hence, AI-powered anomaly detection tools can evaluate complicated patterns, adapt to shifting surroundings, and accurately pinpoint anomalies, spurring market expansion.Market Restraining FactorsIssues with false alarms and system implementationAnomaly detection systems can be challenging to build and tune to identify true anomalies while avoiding false positives (or false alarms). High rates of false positives could reduce user confidence in the system’s accuracy and lead to warning fatigue, which could prevent product uptake. False positive rates that are too high can cause alert fatigue and a lack of faith in the system, whereas false negative rates that are too low can leave serious anomalies unnoticed. For the market to expand, anomaly detection algorithms’ accuracy must be improved. Integrating anomaly detection tools with current workflows and systems can be difficult and time-consuming. Implementing anomaly detection technology may be slowed down by organizations facing compatibility problems with legacy systems. Thus, these factors may hamper the market’s growth in the coming years.Deployment OutlookBased on deployment, the market is segmented into cloud and on-premise. The cloud segment acquired a substantial revenue share in the market in 2022. Cloud-based anomaly detection systems are unsurpassed in their adaptability and scalability. Organizations may easily scale up or down anomaly detection capabilities in accordance with their needs because of cloud infrastructure. Because data processing and volume requirements fluctuate over time, organizations don’t need to spend much money on infrastructure or plan for capacity with cloud infrastructure.Technology OutlookOn the basis of technology, the market is classified into machine learning & artificial intelligence, big data analytics, and business intelligence & data mining. The big data analytics segment recorded the largest revenue share in the market in 2022. As connected devices and digital technology advance, businesses produce and collect large amounts of data from multiple sources. Manually finding irregularities can be challenging because this data is available in both unstructured, structured, and semi-structured, formats.Component OutlookBased on component, the market is bifurcated into solution and services. The services segment procured a considerable growth rate in the market in 2022. Cloud-based security service solutions commonly incorporate anomaly detection services. With the help of these services, enterprises can easily and affordably set up as well as maintain anomaly detection operations.Solution OutlookOn the basis of the solution, the market is classified into network behavior and user behavior. The network behavior segment acquired the largest revenue share in the market in 2022. Network behavior analysis is required for the operation of network behavior anomaly detection. Machine learning (ML) and artificial intelligence (AI) are used in network behavior anomaly detection to identify hidden hazards in areas of network infrastructure where other security technologies cannot access them and to alert network personnel.End-Use OutlookBy end-use, the market is characterized into BFSI, retail, IT & telecom, healthcare, manufacturing, government & defense, and others. The BFSI segment garnered the maximum revenue share in the market in 2022. Risk management is crucial to the BFSI industry. Anomaly detection makes it possible to identify potential risks, including market risk, operational risk, credit risk, and fraud risk. By identifying anomalies in financial transactions, customer behavior, or market patterns, organizations can assess and minimize risks, make intelligent decisions, and prevent financial losses.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the highest revenue share in the market in 2022. The continent of North America is subject to an unstable environment that is changing quickly, especially regarding cybersecurity. The proliferation of digital technology, along with the development of big data, has also led to huge data production and collection by companies. Anomaly detection is essential for spotting fraudulent activities in the insurance, e-commerce, financial, and healthcare sectors. By monitoring patterns and anomalies in transactional data or user behavior, businesses can proactively identify and lower the risk of fraud.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Broadcom, Inc., Cisco Systems, Inc., Dell Technologies, Inc., Dynatrace, Inc., Happiest Minds Technologies Limited, Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation and SAS Institute, Inc.Recent Strategies Deployed in Anomaly Detection MarketPartnerships, Collaboration and Agreements:Jun-2023: Amazon Web Services Inc. expanded its partnership with Lacework Inc., a cloud security company. Lacework would integrate its services with AWS Security Hub to enhance security alerts and provide its clients an improved anomaly detection linked with Amazon GuardDuty findings.May-2023: Amazon Web Services joined hands with Elastic, distributed, free, and open search and analytics engine for all types of data. The collaboration aims at offering a seamless user experience for Elastic Cloud on AWS. Moreover, it would support its client’s global cloud adoption journey and help boost their digital transformation.Nov-2022: Happiest Minds Technologies Limited formed a collaboration with ServiceNow, a software company that provides a cloud-based platform for automating IT management workflows. With this collaboration, the company aims to enhance its IT service offerings globally.May-2022: IBM Corporation signed an agreement with Amazon Web Services (AWS), a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. This agreement would deliver IBM’s clients easy and rapid access to IBM Software that covers Data and AI, Security, Sustainability, and Automation abilities.Mar-2022: Cisco Systems, Inc teamed up with NetApp, a data management solutions provider. The partnership would provide the joint customers of the two companies with automation, hybrid cloud operations, and visibility solutions.Dec-2021: Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company formed a collaboration with Pfizer, an American multinational pharmaceutical and biotechnology corporation. The company would apply its analytics, machine learning, computing, storage, security, and cloud data warehousing capabilities to Pfizer laboratory, clinical manufacturing, and clinical supply chain efforts. Furthermore, the company aimed to develop a prototype solution for detecting abnormal data points in its drug product continuous clinical manufacturing platform for solid oral-dose medicines.Aug-2021: IBM teamed up with Black & Veatch, an engineering, procurement, consulting, and construction company. The collaboration integrates Black & Veatch Asset Management Services (AMS) and digital analytics with IBM Maximo Application Suite to enhance the performance of assets and extend their lifespans.Product Launch and Product Expansions:Mar-2021: Amazon Web Services revealed Amazon Lookout for Metrics, an anomaly detection service, to monitor the health of its client’s businesses. The new service aims at opening machine learning technology to more manufacturing plants by removing barriers involved in developing, training, deploying, monitoring, and fine-tuning computer vision models.Acquisitions and Merger:Mar-2023: Cisco Systems, Inc completed the acquisition of Lightspin Technologies Ltd., a security software provider based in Israel. The acquisition would enhance Cisco’s ability to deliver secure solutions for cloud environments to their customers.Jul-2022: IBM took over Databand.ai, a leading provider of data observability software. This acquisition aimed to provide IBM with the most comprehensive set of observability offerings for IT across applications, data, and machine learning and would continue to provide IBM’s customers and partners with the technology they require to provide trustworthy data and AI at scale.Mar-2022: Microsoft took over Nuance Communications, a leader in conversational AI and ambient intelligence industries. This acquisition aimed to bring together Nuance’s best-in-class conversational AI and ambient intelligence with Microsoft’s secure as well as trusted industry cloud offerings. Also, this acquisition would help providers offer more affordable, effective, and accessible healthcare, and help businesses in every industry create more personalized and meaningful customer experiences.Scope of the StudyMarket Segments covered in the Report:By Deployment• On-premise• CloudBy Technology• Big Data Analytics• Business Intelligence & Data Mining• Machine Learning & Artificial IntelligenceBy Component• Solutiono Network Behavioro User Behavior• ServicesBy End-Use• BFSI• Government & Defense• IT & Telecom• Healthcare• Manufacturing• Retail• OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Amazon Web Services, Inc.• Broadcom, Inc.• Cisco Systems, Inc.• Dell Technologies, Inc.• Dynatrace, Inc.• Happiest Minds Technologies Limited• Hewlett Packard Enterprise Company• IBM Corporation• Microsoft Corporation• SAS Institute, Inc.Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06487614/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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