Threat Intelligence Market Size

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, June 20, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, the threat intelligence market was valued at $11.9 billion in 2022, and is estimated to reach $30.5 billion by 2032, growing at 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 cyber-attacks 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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The threat intelligence market size has experienced notable expansion over time, propelled by various significant trends and factors promoting growth. One prominent trend is the emergence of cloud-based threat intelligence platforms, which have been developed to cater to the demand from large corporations seeking to safeguard their cloud infrastructure. Similarly, the increasing popularity of managed services for overseeing outsourced IT infrastructure represents another trend that contributes to the growth of the threat intelligence market. Furthermore, the growth factors driving the threat intelligence market include a rise in the number of sophisticated cyberattacks, an increasing need to secure critical infrastructure, and the widespread adoption and deployment of digital technologies. In conclusion, it is anticipated that the threat intelligence industry will continue to expand as a result of the increasing adoption of cloud-based threat intelligence services by enterprises.

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 the 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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Based on components, the solutions segment is the highest-growing segment. Factors including rise in cyber-attacks, digital transformation across industries, and data proliferation are fueling the demand for threat intelligence solutions. Threat intelligence solutions enhance cybersecurity measures by enabling timely observations, automating threat recognition, and facilitating proactive responses to threats.

Based on applications, the segment of security information and event management is projected to experience substantial growth during the anticipated period. The escalating complexity and frequency of cyber risks are resulting in a swift surge in the demand for solutions pertaining to Security Information and Event Management (SIEM) threat intelligence. The capacity to identify security incidents in SIEM systems hinges upon the analysis of data in real-time, and the inclusion of threat intelligence bolsters their capabilities by furnishing contextual information concerning emerging threats. This amalgamation enables enterprises to more effectively identify, respond to, and alleviate cyberattacks, thus establishing threat intelligence as an indispensable constituent in the progressing realm of cybersecurity.

The BFSI segment is anticipated to experience the highest growth rate during the projected timeframe when analyzed by industry vertical. The surge in demand for threat intelligence solutions and services in the BFSI sector can be attributed to the possession of highly sensitive data by the industry and the presence of stringent regulatory requirements. As cyber threats continue to evolve, BFSI organizations prioritize proactive cybersecurity measures. The adoption of threat intelligence facilitates the timely identification and response to emerging threats, thereby safeguarding data, ensuring adherence to regulatory standards, and upholding customer trust. In addition, the ongoing innovation and digitalization within the financial sector significantly contribute to the escalating necessity for advanced threat intelligence solutions, which effectively mitigate cyber risks.

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The significance of threat intelligence lies in its central role of safeguarding organizations and critical infrastructure against emerging cyber threats. By providing timely and up-to-date knowledge of emerging risks and vulnerabilities, threat intelligence facilitates the proactive identification, response, and mitigation of threats. It aids organizations in protecting sensitive information, ensuring uninterrupted business operations, and maintaining customer trust, thus establishing itself as a fundamental element of modern cybersecurity strategies in an increasingly digital and interconnected global landscape.

By region, North America witnessed the highest growth in the year 2021. The presence of key market players such as Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike Inc., IBM Corporation, Juniper Networks, and others significantly impacts the growth of the threat intelligence industry in North America. Furthermore, the increase in government initiatives to enhance cybersecurity infrastructure across the region is expected further to drive the demand for threat intelligence solutions and services.

The increasing demand for managed services in the threat intelligence market is restructuring the environment by providing comprehensive outsourced cybersecurity solutions to organizations. Providers of managed services offer their expertise in detecting, analyzing, and responding to threats, allowing businesses to improve their security without depending on internal resources. This inclination facilitates the availability of advanced threat intelligence capabilities, which is particularly advantageous for smaller organizations, and encourages collaboration between service providers and clients to achieve more effective threat mitigation and protection.

However, the Asia-Pacific region is anticipated to experience the most rapid growth during the projected time frame. This can be attributed to the presence of economically viable threat intelligence solutions and the escalation of cyber-attacks across various organizations. For instance, in January 2023, according to statistical data obtained from Check Point Research (CPR), the average number of cyber-attacks per organization in Asia-Pacific saw a notable increase of around 22% when compared to the figures from 2021. Additionally, the quantity of cyberattacks in Singapore witnessed an approximate 26% surge in 2022.

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Key findings of the study

• By component, the solutions segment led the Threat Intelligence Market analysis in terms of revenue in 2022.
• By applications, the Security Information and Event Management segment accounted for the highest Threat Intelligence Market share in 2022.
• By region, North America generated the highest revenue in 2022.

The report analyzes the profiles of key players operating in the threat intelligence market forecast such Anomali, Inc., Broadcom, Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike, Inc., IBM Corporation, Juniper Networks, Inc., McAfee, LLC, Microsoft Corporation, Palo Alto Networks, Inc., and Trend Micro Incorporated. These players have adopted various strategies to increase their market penetration and strengthen their position in the threat intelligence market.

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