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The threat intelligence security market size is estimated to grow at a CAGR of 23.7% between 2022 and 2027. The market size is forecast to increase by USD 17,000.22 million. The growth of the market depends on several factors, including the rising number of cyberattacks on connected devices or systems, increasing adoption of mobility and IoT expanding attack surface, and ransomware attackers targeting enterprises. Threat intelligence security can be defined as an aggregation of security threat-related data from different sources and analysis of the imported data to mitigate identified threats. It is distinguishable from other threat mitigation technologies. It gives pre-intimation of any incoming threats and helps enterprises defend against the latest malicious threats such as malware and ransomware.
This threat intelligence security market report extensively covers market segmentation by deployment (cloud and on-premises), end-user (BFSI, IT and telecom, healthcare, transportation and logistics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Ransomware attackers targeting enterprises are the key factor driving the growth of the market. Ransomware attacks like Locky and WannaCry allow cybercriminals to trap unsuspecting individuals, gain control of files (locks) on a system, and demand a ransom to unlock the locked files. Nowadays, these ransomware attackers have shifted their focus to businesses, as the financial gain from accessing critical corporate data is greater than consumer data. This could result in the entire company being shut down until payment is made, or risking the loss of all sensitive data.
Therefore, companies should back up their data regularly and build robust systems for incident response and disaster recovery. To keep up to date with all the latest attack techniques and exploits, enterprises use threat intelligence services to identify threats to their IT assets. Threat intelligence service helps them to prioritize security resources against specific attack types and mitigate threats before they impact business operations. Thus, such factors will drive the growth of the market during the forecast period.
The adoption of big data analytics and IoT is the primary trend in the market. Threat intelligence data provides the information needed to operate a cybersecurity solution efficiently and effectively. Large datasets help machine learning algorithms identify a wide range of threats and help companies decide how to mitigate them before an attack occurs. Security players are spending time and resources on improving the quality and quantity of data sets they deploy in machine learning.
Moreover, the quality of the dataset is improved through proper labeling and classification of malware and threat data. By analyzing millions of files every day using big data analytics, the threat intelligence platform can also predict the timing and pattern of attacks. As a result, big data tools provide useful security information by reducing the time required to analyze security event information. Thus, an adaptation of big data analytics and IoT will propel the growth of the market.
Challenge
The increasing complexity of IT infrastructure is a challenge that affects the growth of the market. The addition of new security products, such as software and services by market players, leads to integration problems and system slowdowns. This can lead to customer dissatisfaction and ultimately customer attrition. Therefore, security products provided by market players must integrate seamlessly not only with third-party solutions but also with previous versions of information systems.
However, this can complicate threat intelligence security products and create operational or interface problems for end users. Therefore, the increasing complexity of network infrastructure has become a challenge for providers. Hence, these challenges may impede the growth of the market during the forecast period.
The market share growth by the cloud segment will be significant during the forecast period. Cloud-based threat intelligence does not require software installation as the solution is maintained by suppliers and is accessible on a subscription basis. End users pay a monthly subscription fee for each managed device, which includes maintenance and system upgrade fees. Small and medium enterprises (SMEs) are turning to cloud-based threat intelligence services for faster, more cost-effective security solutions.
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The cloud segment showed a gradual increase in the market share of USD 1,979.55 million in 2017 and continued to grow by 2021. Threat Intelligence (TI) products and services provide 24/7 monitoring to prevent organizations from conducting advanced malware activity. TI products and services also provide a secure and scalable cloud environment to prevent businesses from distributed denial of service (DDoS) attacks. In the range of TI products and services hosting such solutions, companies may feel threatened with their confidential data and lack the ability to control their own security. This leads to the fact that large enterprises have not yet adopted this solution. Therefore, this results in a decline in the market's growth during the forecast period.
Losses from cybercrime have become a significant concern for BFSI companies around the world, as a successful attack could result in a large immediate financial gain for the attacker. The BFSI sector will continue to be targeted by cybercriminals. Attackers not only target unpatched vulnerabilities but also launch distributed denial-of-service attacks against financial institutions, severely impacting their operations and disrupting services. The increasing emphasis on building a cashless economy highlights the need to strengthen and strengthen financial cybersecurity. Such an increase in security breaches will increase the demand for threat intelligence security from the BFSI sector during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American threat intelligence security market is rising rapidly due to the increasing frequency of cyber-attacks on information systems. This increase in cyber attacks can be attributed to the formation of new IP addresses that are not subject to current cyber defenses. About half of the new IP addresses that are malicious in nature are from North America.
Furthermore, threat intelligence security players such as Mandiant, a FireEye company help customers deliver threat intelligence security. For instance, in 2022, Federal Cyber ??Security, a program Mandiant created for the US government, helped many countries mitigate the impact of cyber threats. Driven by the requirement to develop a comprehensive threat intelligence program, Mandiant experts developed a CTI capability design to formalize government cybersecurity initiatives and strengthen the overall cybersecurity posture. Hence, such factors are expected to drive market growth in this region during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the threat intelligence security market in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of supply chain activities. Moreover, due to the benefits of threat intelligence security solutions, regulatory requirements, and increasing applications in commercial and industrial activities involving data generation, the market is expected to grow in the North American region as enterprises continue to invest in threat intelligence security solutions. Hence, such factors will drive the market growth in this region during the forecast period.
The Threat Intelligence Security Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Threat Intelligence Security Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The threat intelligence security market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Threat Intelligence Security Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.7% |
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Market growth 2023-2027 |
USD 17,000.22 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
22.01 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, China, India, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Anomali Inc., BlueVoyant, Check Point Software Technologies Ltd., Cisco Systems Inc., Datto Holdings Corp., F Secure Corp., Farsight Security Inc., Fortinet Inc., Intel 471 Inc., International Business Machines Corp., Juniper Networks Inc., KKR and Co. Inc., LogRhythm Inc., Musarubra US LLC, NortonLifeLock Inc., Open Text Corp., Splunk Inc., Trend Micro Inc., ZeroFox Inc., and Palo Alto Networks Inc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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