Threat intelligence is data used in warning companies of all sizes and orders against cybercrimes and online threats. The menace to assets and disruptions to foil processes can be tackled with the help of preventive information that provide foresights. The global threat intelligence market report by Market Research Future (MRFR) contains pertinent data on latest opportunities and hurdles coupled with growth engines which can power up the industry for the period of 2022 to 2030 (forecast period). The unpredictability of the COVID-19 virus and its impact on the industry are explored in the report.
The global Threat intelligence market size is expected to reach $21.6 Billion by the end of 2030 at 6.90% CAGR during forecast period. The rising cyber threats, adoption of crowd sourced intelligent stages, and adoption by organizations are prime factors driving market growth. Establishment of predictive intelligence platforms which provide insights on cyber-criminal behavior and decoding of noise signals can bode well for the market. Funding by venture capital firms can provide the market the much-needed impetus to expand in the right direction. This is exemplified by the funding of CYFIRMA by Goldman Sachs in 2019. The company now provides solutions to major companies in India, Singapore, and Japan. But high costs of software are likely to hinder market growth.
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The key players in the global threat intelligence market include- Dell Technologies, Inc. (US), IBM Corporation (US), Symantec Corporation (US), McAfee LLC (US), Trend Micro Incorporated (Japan), IBM Corporation (US), FireEye, Inc. (US), Juniper Networks, Inc. (US), Check Point Software Technologies Ltd. (US), Optiv Security, Inc. (US), LogRhythm, Inc. (US), AlienVault, Inc. (US), Webroot, Inc. (US), Farsight Security, Inc. (US), F-Secure Corporation (Europe), and LookingGlass Cyber Solutions, Inc. (US) among others.
The global threat intelligence market can be segmented by component, deployment, organization size, and end-users.
By component, it is divided into solutions and services.
By deployment, it is segmented into on-cloud and on-premises.
On the basis of organization size, the market can be segmented as small, large and medium enterprises. Out of these, small and medium sized enterprises accounted for the largest market share majorly due to presence of small & medium sized enterprises in the Asia Pacific region and the increasing need for better network solutions.
By end-users, it is catered towards transportation, manufacturing, education, retail, government, IT & telecommunication, healthcare, BFSI, and others. The BFSI segment is expected to be one of the biggest end-users of the global threat intelligence market owing to rise of digital payments and spate of online attacks during online transactions. The spate of cyber breaches and exposure of confidential information is likely to lead to proactive solutions against online threats.
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Regionally, North America accounted for the largest market share from countries such as U.S. and Canada among others. This is attributed to the presence of large number of threat intelligence vendors and the increasing number of large-scale enterprises. The partnership between public and private agencies is likely to bode well for the market over the forecast period. Recently, the state of Oklahoma Office of Management and Enterprise Services (OMES) has agreed to a partnership with Anomali, a threat intelligence firm to detect cyber threats and compromise on remote workers during the COVID-19 pandemic.
However, Asia Pacific is expected to grow over the forecast period. The reason is attributed to growing demand for high-end technology solutions for security and increasing demand by enterprises to protect network infrastructure. Consumer awareness of solutions and rising innovation in phishing are likely to drive the market expansion in the region.
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