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Growing need to secure critical infrastructure, & rise in number of sophisticated cyberattacks are driving the growth of the global threat intelligence market.
PORTLAND, PORTLAND, OR, UNITED STATE, March 22, 2024 /EINPresswire / -- According to the report, the global threat intelligence industry generated $11.89 billion in 2022, and is anticipated to generate $30.51 billion by 2032, witnessing a CAGR of 9.9% from 2023 to 2032.
Threat intelligence encompasses the collection, processing, and analysis of data aimed at deciphering a threat actor's motivations, targets, and methods of attack. This information enables a shift from reactive to proactive security measures, facilitating quicker, well-informed, data-driven decisions in the battle against threat actors. Improved methodologies and procedures empower cybersecurity stakeholders, enabling security teams to make more informed choices in combatting cyber threats. Moreover, threat intelligence aids organizations of all sizes in assessing threat data to gain deeper insights into their adversaries, respond swiftly to crises, and preemptively anticipate the next moves of threat actors. These elements drive the demand for threat intelligence, fostering growth in the market.
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The notable factors positively affecting the threat intelligence market include rise in the number of sophisticated cyberattacks, growing need to secure critical infrastructure, and extensive adoption of digital technologies. However, high cost associated with the threat intelligence solutions and lack of skilled professionals to operate threat intelligence platforms can hinder the market growth. However, favorable government initiatives and investments to enhance cybersecurity infrastructure along with the growing popularity of threat intelligence services offer lucrative market opportunities for the market players.
By application, the security information and event management segment held the highest market share in 2022, accounting for more than two-fifth of the global threat intelligence market revenue, owing to the escalating volume and intricacy of cyber threats, which have rendered it imperative for organizations to harness threat intelligence data to proactively anticipate and counteract potential attacks. However, the same segment is projected to attain the highest CAGR of 11.7% from 2023 to 2032.
By vertical, the IT and telecom segment held the highest market share in 2022, accounting for nearly two-fifth of the global threat intelligence market revenue, and is estimated to maintain its leadership status during the forecast period. This is because they offer prompt and actionable insights into the ever-changing landscape of cybersecurity threats, empowering IT professionals to proactively safeguard networks, systems, and data. However, the BFSI segment is projected to attain the highest CAGR of 12.8% from 2023 to 2032, owing to the existence of regulatory requisites, such as GDPR, and stringent industry compliance standards necessitate the implementation of robust cybersecurity measures; thereby stimulating the adoption of threat intelligence.
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By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global threat intelligence revenue. This is due to the increased adoption of IoT devices by a large number of financial institutions and internet users due to high availability of suitable infrastructure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.1% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the diverse range of threats in the Asia-Pacific region which contributes to the requirement for real-time threat insights, risk reduction, and incident response. This growing demand for advanced security solutions is anticipated to contribute to the growth of threat intelligence market across the Asia-Pacific region.
Market Opportunities:
.Exploring tailored threat intelligence solutions for distinct sectors offers lucrative prospects for providers seeking to cater to the distinct cybersecurity needs of industries like healthcare, finance, and energy.
.Manufacturers hold strategic promise in delivering specialized threat intelligence services designed to tackle the expanding realm of IoT security.
.Designing platforms that facilitate collaborative sharing of threat intelligence among various entities presents a compelling business opportunity.
.The rising reliance on mobile devices has opened up a substantial market potential for the development of threat intelligence frameworks focused on mobile security.
.Providing educational resources and training programs on threat intelligence technologies presents a profitable business avenue.
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Key Players in the Threat Intelligence Market:
.IBM Corporation
.Cisco Systems, Inc.
.Symantec Corporation
.FireEye, Inc.
.Palo Alto Networks, Inc.
.Check Point Software Technologies Ltd.
.Trend Micro Incorporated
.Fortinet, Inc.
.McAfee, LLC
.CrowdStrike Holdings, Inc.
The report provides a detailed analysis of these key players of the global threat intelligence market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Prominent market players are implementing diverse strategies to augment competition and provide improved services to their clientele. As an illustration, in November 2022, Amazon Web Services Inc. and Kyndryl formed a collaborative alliance aimed at enhancing the provision of threat intelligence. Within this partnership, both entities dedicatedly concentrated on the establishment of a data lake that would bolster security measures based on the Open Cybersecurity Schema Framework (OCSF). Consequently, this concerted effort facilitated accelerated performance of the threat intelligence platform for both organizations.
Similarly, companies engaged in the provision of solutions and services pertaining to threat intelligence have directed their efforts towards the advancement of their existing portfolio. A notable example is the announcement made by ThreatQuotient, a provider of security operation platforms, in October 2023, regarding updates made to their ThreatQ and ThreatQ TDR Orchestrator platforms. This particular announcement involved the integration of generative artificial intelligence, ACE workflows, and a marketplace for the purpose of augmenting their operational capabilities. As a result, ThreatQuotient succeeded in effectively meeting the demand from enterprises for threat intelligence solutions that are driven by data. Consequently, the adoption of these strategies by market players has led to an increase in market competition and has served as a catalyst for the growth of the threat intelligence market.
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