As per the report published by Fior Markets, the global threat intelligence market is expected to grow from USD 15.23 billion in 2020 and reach USD 38.57 billion by 2028, growing at a CAGR of 23.2% during the forecast period 2021-2028.
The potential of insider assaults leading to a breach and data loss has heightened the need for security systems to work in tandem with threat intelligence. The rise of the threat intelligence market has resulted from the integration of threat intelligence to compete with attacks. Rising SME adoption and increasing deployment of threat intelligence solutions across various sectors are key factors driving the growth of the threat intelligence market. The increasing cybercrime scenario in both established and emerging economies has raised concerns for enterprises. Governments and many large enterprises attempt to bridge the gap between spending on cybersecurity systems and achieving the best possible outcome with the threat intelligence obtained to mitigate developing dangers.
Threat intelligence gives the context required to make informed network security decisions, particularly after an attack. Cyber threat intelligence is information about threats and threat actors that aids in the reduction of potentially damaging events in cyberspace. Cyber threat intelligence sources include social media intelligence, open-source intelligence, technical intelligence, and intelligence from the dark web. Cyber threat information has various advantages, including allowing firms to build a proactive cybersecurity posture and strengthen overall risk management strategies. With the increasing use of cloud platforms, IoT, and other networking technologies in enterprises, they are becoming increasingly vulnerable to numerous cybersecurity breaches. As a result, they are being encouraged to acquire threat intelligence platforms to boost their capabilities in the face of a fast-expanding cybercrime landscape.
The factors boosting the global threat intelligence market are the increase in threat intelligence solutions by small-scale organizations. Another vital market driver is the advancement of customized security solutions for businesses. The global market now caters to companies of all sizes. As a result, the general use of threat intelligence systems is a crucial driver of profit growth in the threat intelligence industry. A lack of significant investments is hindering the market. Threat Intelligence solution implementation is an expensive procedure because it must cover a whole organization’s infrastructure. As a result, any firm cannot rely on threat intelligence solutions due to market cost constraints. Key firms are striving to alleviate these constraints, but the field requires more investment and research. The acquisition of crowdsourced threat intelligence platforms will give opportunities for industry growth. Market research can rely on a company’s requirement for predictive analysis to assess chronic risks. Organizations are looking for creative solutions to their threats. The Global Threat Intelligence Market has the potential to develop beyond its existing bounds as threats evolve.
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The key and innovative vendors in the threat intelligence market include IBM, Cisco, Trend Micro, McAfee, FireEye, VMware, AT&T, Check Point, and DXC Technology. To achieve an extensive market position in the global threat intelligence market, top companies are increasingly focused on strategies such as product innovation, mergers and acquisitions, new advancements, joint ventures, collaborations, and partnerships.
- In March 2019, Saudi Telecom Business (STC) announced a collaboration with Anomali, a cybersecurity firm based in the United States, to deliver high-quality information on the sources of threats and cyber attacks, thereby raising demand in the telecom sector.
- In March 2019, SlashNext debuted its real-time phishing threat intelligence service. As soon as phishing URLs, domains, and IP addresses are discovered, users can receive real-time API access to a continually updated list of them.
Security Analytics segment dominated the market and held the largest market share of 28.12% in the year 2020
Based on application, the global threat intelligence market is segmented into Risk and Compliance Management, SIEM, Security Analytics, Security and Vulnerability Management, and Incident Response. The Security Analytics segment dominated the market and held the largest market share of 28.12% in 2020. This expansion can be linked to the growing need to detect cybersecurity threats across network infrastructure and the increased emphasis on maintaining regulatory compliance across verticals. In response to increased network complexities and frequent changes in network infrastructure, there is a growing demand for security analytics solutions. The market for security analytics is expected to increase as it aids organizations in the early detection of cybersecurity incidents.
The banking, Financial Services, Insurance (BFSI) segment dominated the market and held the largest market share of 20.33% in the year 2020
Based on vertical, the global threat intelligence market is segmented into Government, IT and Telecommunications, Banking, Financial Services, Insurance (BFSI), Retail, Healthcare, Education, and Manufacturing. The banking, Financial Services, Insurance (BFSI) segment dominated the market and held the largest market share of 20.33% in the year 2020. This growth is attributed to the heavy threat intelligence investment within the sector in response to mounting cybercrime and internal breaches. Furthermore, the frequency of attacks in the financial sector increases, necessitating developing a solid security posture. Advances in the banking business, such as e-banking, mobile banking, and ATMs, are anticipated to increase security threats. Furthermore, increased compliance and regulations are likely to drive up demand.
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Regional Segment of Threat Intelligence Market
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia Pacific)
- South America (Brazil & the Rest of South America)
- The Middle East and Africa (UAE, South Africa, and the Rest of the Middle East and Africa)
Based on geography, the global threat intelligence market is classified into Europe, North America, South America, Asia Pacific, and The Middle East & Africa. Asia Pacific region holds the largest market share of 24.52% in the year 2020. Asia Pacific countries are increasingly funding threat intelligence projects. South Korea, Australia, and the rest of Asia Pacific are among the region’s growing economies. The part has a mix of emerging and established countries, with the greatest concentration of SMEs. Cyber attacks are exacerbating the rising vulnerability of crucial data maintained by enterprises. These cyber-attacks have a negative influence on revenue; as a result of these figures, firms and governments in APAC have begun to invest more and more in threat intelligence solutions.
About the report:
The global threat intelligence market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study covers the analysis of more than 30 countries for each part. The report offers a thorough analysis of driving factors, restraints, opportunities, and challenges for gaining critical insights. The study includes porter’s five forces model, raw material analysis, attractiveness analysis, and competitors’ position grid analysis.