The global threat intelligence market is experiencing substantial growth, primarily due to the increasing number of sophisticated cyberattacks.
PORTLAND, PORTLAND, OR, UNITED STATES, November 27, 2023 /EINPresswire.com/: 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.
The threat intelligence market has seen significant growth over the years, driven by several key trends and growth factors. Threat intelligence enables security teams to adopt a proactive approach, empowering them to implement impactful and data-centric measures to prevent cyberattacks before they occur. Additionally, it can assist organizations in improving their capabilities to identify and mitigate ongoing attacks. Security analysts generate threat intelligence by collecting raw threat data and security-related information from various sources. Subsequently, they analyze and correlate the data to uncover trends, patterns, and relationships that facilitate a comprehensive understanding of current or potential threats.
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Moreover, 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.
The notable factors positively affecting the threat intelligence market include the rise in the number of sophisticated cyberattacks, the growing need to secure critical infrastructure, and the extensive adoption of digital technologies. However, the high cost associated with threat intelligence solutions and the lack of skilled professionals to operate threat intelligence platforms can hinder 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 market players.
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By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths 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 the 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 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 the threat intelligence market across the Asia-Pacific region.
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 that necessitate the implementation of robust cybersecurity measures, thereby stimulating the adoption of threat intelligence.
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Leading Market Players:
• Anomali, Inc.
• Broadcom, Inc.
• Cisco Systems Inc.
• Check Point Software Technologies Ltd.
• CrowdStrike, Inc.
• IBM Corporation
• Juniper Networks, Inc.
• McAfee, LLC
• Microsoft Corporation
• Palo Alto Networks, Inc.
• Trend Micro Incorporated
The report provides a detailed analysis of these key players in the global threat intelligence market. These players have adopted different strategies, such as partnerships, product launches, and expansion, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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