As per the report published by Fior Markets, The global open-source intelligence (OSINT) market is expected to grow from USD 6.47 Billion in 2020 to USD 35.7 Billion by 2028, at a CAGR of 23.8% during the forecast period 2021-2028.
Open-source intelligence (OSINT) is gathered from publicly accessible sources and delivered to specified audiences at a limited time. With the advent of immediate communication and faster data transport, OSINT may be in high demand. Open-Source Intelligence (OSINT) is a way of gathering publicly accessible data, analyzing it, and disseminating it to the right people at the right time to meet a specific intelligence need. The term “open” refers to sources that are freely accessible to the public.
The primary applications of OSINT are in law enforcement, business intelligence, and national security. The fundamental goal of an open-source intelligence tool is to reorganize, clean, and enhance accessible raw data into the required format, allowing for faster and more informed decision-making. The method has been changed by open-source intelligence technology, which has replaced time-consuming and arduous attempts to master numerous data sources. Several sorts of security companies have been reported to be investing in open-source intelligence technologies to improve their monitoring and research capacities. Social media surveillance is made possible by platforms like Facebook, Twitter, Instagram, LinkedIn, and other local services, containing comprehensive personal data on billions of individuals.
The market is driven by the use of relevant information on businesses based on employee experience and without the involvement of reputation management agencies. In the forecasted period, actionable insights on persons and corporations for sensitive data are expected to be shown. For acquiring awareness and conducting location-based investigations, organizations can collect data in real time from various sources. Decision-makers can benefit by quantifying risks, events, and consequences. Lack of expertise and limited skill sets in the open-source intelligence (OSINT) business, as well as tight laws on data protection and fair use of publicly available data, are limiting the market’s growth.
The open-source intelligence industry is benefiting from advances in data analytics, text analytics, big data, and artificial intelligence.
Key players operating in the open-source intelligence (OSINT) market include Google LLC, Digital Clues, Octogence Technologies Pvt. Ltd., Expert Systems S.p.A, Alfresco Software Inc., Maltego Technologies GmbH, OffSec Service Limited, Thales Group, Recorded Future Inc., and Palantir Technologies Inc. To gain a significant market share in the open-source intelligence (OSINT) market, the key players now focus on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In April 2019, commercial open-source software developer, Alfresco Software, released a new intelligence services module for its cloud-based digital business platform. This introduction aided the firm in expanding its intelligence service offering and gaining market share.
The text Analytics segment dominated the market and held the largest market share of 20.7% in the year 2020
Based on technology, the open-source intelligence (OSINT) market is segmented into web analysis, big data software, social media analysis, video analytics, visualization tools, text analytics, and cybersecurity. The text analytics technology segment dominated the market and held the largest market share of 20.7% in 2020. Using integrated business intelligence technologies, text analytics assists businesses in evaluating unstructured data. It also enhances the capabilities of business intelligence systems by allowing users to obtain deeper insights from previously disregarded textual data. With the influx of enormous amounts of unstructured data, businesses may now use text analytics tools in conjunction with BI software. Add-on services, such as speech-to-text API and optical character recognition API in real-time, improve market competitiveness for businesses delivering text analytics-based OSINT solutions, complementing the findings gained through text analytics.
Internet segment dominated the market and held the largest market share of 26.3% in the year 2020
Based on source, the open-source intelligence (OSINT) market is segmented into media, internet, public government data, professional & academic publications, and commercial. The internet Source segment dominated the market and held the largest market share of 26.3% in 2020. Over the projected period, the internet segment is expected to develop significantly by allowing businesses to use text analytics solutions in conjunction with business intelligence tools The media, which includes newspapers, periodicals, radio, and television is the second most common source of data collection. Data budgets, public government reports, telephone directories, hearings, press conferences, and speeches are examples of general government data. This is an official source that is open to the public and may be used freely. OSINT can use this data to acquire helpful information.
Military & Defense segment dominated the market and held the largest market share of 34.1% in the year 2020
Based on Application, the open-source intelligence (OSINT) market is segmented into military & defense, private sector, public sector, and national security. The Military & defense application segment dominated the market and held the largest market share of 34.1% in the year 2020. The rising requirement to use AI and significant data capabilities for gathering security information is driving the deployment of OSINT systems in the country’s armed forces. By combining open-source data with classified information, it is possible to improve battle intelligence, identify the best tactical warfare plans, and maximize military resources.