Overview
Threat intelligence is
data used in warning companies of all sizes and orders against cyber crimes 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 2018 to 2023
(forecast period). The unpredictability of the COVID-19 virus and its impact on
the industry are explored in the report.
Market Scope
The global threat
intelligence market size is expected to reach USD 11 billion by the end of 2023
at 19% 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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Segmentation
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.
Regional Analysis
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.
Competitive
Outlook
LogRhythm, Inc.,
LookingGlass Cyber Solutions, Inc., F-Secure Corporation, Trend Micro
Incorporated, Optiv Security, Inc., Symantec Corporation, IBM Corporation,
Webroot, Inc., Juniper Networks, Inc., AlienVault, Inc., Dell Technologies, Inc.,
McAfee LLC, Farsight Security, Inc., Check Point Software Technologies Ltd.,
and FireEye, Inc. are prominent players in the global threat intelligence
market.
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Threat Intelligence Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
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