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Threat Intelligence Market revenue to expand at significant CAGR through 2025

Author : Ronak Bora | Published Date : 2020-09-21 

The ever-growing demand for internet-based services & rising penetration of IoT has propelled the growth graph of threat intelligence market. Nowadays organizations are rapidly embracing cloud platforms, IoT, and other networking technologies to enhance business productivity and reduce surplus cost, however, this has in turn led to rising concerns pertaining system security and growing reliance on threat intelligence solution to help identify common indicators of compromise (IOC) and to undertake necessary steps to prevent attack or infection.

The primary purpose of threat intelligence is to keep users informed of potential risks like zero-day threats, advanced persistent threats and exploits that can adversely affect computer programs, data or a network. According to reliable reports, companies in India experienced financial losses over $500,000 last year, owing to random cyber-attacks that caused losses in revenue, customers, opportunities, and out-of-pocket costs. The incidence is remnant of many such similar events that have led to an increased adoption of these solutions, which has helped supplement the threat intelligence market growth.

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The global threat intelligence market is expected to amass substantial returns from mobile-based solutions, due to the exponential rate at which cases of mobile cyberattacks & mobile frauds are growing. According to a 2018 report by ThreatMetrix, the first two quarters of 2018 witnessed the cases of mobile attacks across the globe reach the 150 million mark with attack rates growing 24% year-over-year. While the growing penetration of mobile devices has undoubtedly been a crucial factor in the rise of digital commerce, the trend has also proved to be extremely conducive for numerous malicious entities to carry out fraudulent activities.

Moreover, other growing trends such as Choose Your Own Device (CYOD) & Bring Your Own Device (BYOD) being adopted across a number of enterprises, while facilitating greater convenience, are creating more vulnerabilities in the organization networks. Fueled by these trends the global threat intelligence market share from mobile-based solutions will grow at a CAGR of more than 18% over 2019-2025.

Threat intelligence market is projected to surpass USD 13 billion by 2025. The market growth is attributed to the growing number of connected devices and rising incidents of cyber-attacks such as zero-day exploit, malware, DDoS attacks, and advanced persistent threats. For instance, in 2017, the federal civilian agencies in the U.S. reported over 35,277 cybersecurity incidents, which included web-based attacks, phishing attacks, and loss or threat of computing equipment. These attacks resulted in huge financial losses and adversely impacted organizations' IT infrastructure. According to the Threat Report 2017, the average cost of a data breach in North America was around USD 1.3 million for enterprises. These factors are expected to foster the adoption of threat intelligence platforms, which help security analysts in analyzing and prioritizing threats. Threat intelligence has become an important aspect of cyber defense strategy as it lays the foundation for effective measures to be implemented to avoid cyber exploit.

Increased adoption of BYOD and IoT has also given rise to intrusions and attacks, exposing business-critical information. It is estimated that in 2017, Telnet and HTTP were the most targeted IoT services. Rising incidents of attacks facilitate the adoption of threat intelligence platforms, which gather massive amounts of threat data, perform analysis, and provide actionable insights in the form of feeds and alerts. Furthermore, various favorable government-led initiatives worldwide to boost cybersecurity will also fuel threat intelligence market growth.

In the component segment, the threat intelligence platforms market held a majority of the market share in 2018 amounting to over 68%. The Unified Threat Management (UTM) market is expected to witness the highest growth rate of over 14% during the forecast timeline. These platforms integrate several security functions including anti-virus, intrusion detection, and content filtering, thus acting as a viable option for safeguarding the network against various threats.

According to the Southern Medical Association, as cyberattacks continue to proliferate, the global healthcare industry remains a primary target. In fact, 2017 witnessed the most successful data breaches in history, bringing legal consequences & detrimental financial losses to the victims and costing organizations more than $5 billion in accumulated financial losses & estimated total payouts. As healthcare organizations store a copious amount of information associated with their patients, cyberattacks, aiming to gain access to these data reserves, would be continuing to occur in the sector, generating significant opportunities for the threat intelligence market contenders. Indeed, the global threat intelligence market is projected to witness a CAGR of 13% over 2019-2025 from the healthcare industry.

As with other sectors, the world’s government institutions are also making their transition to the digital world, leaving their conventional pen & paper practices behind for higher operating efficiencies. This trend has provided cyber-criminals an ideal opportunity, wherein they target specific government institutions for their own financial or idealistic gains. One recent instance of this is the cyberattack that targeted the local government of Atlanta, USA. According to the American Bar Association, the entire city of Atlanta was trapped in a hostage situation, wherein the city’s digital infrastructure was taken over by a powerful ransomware.

The Asia Pacific threat intelligence market is projected to grow at a CAGR of over 16% during the forecast period. In this region, penetration of smartphones and the growing adoption of IoT are triggering the cybercrime. According to the CNNIC, at the end of December 2017, the number of internet users in China reached 772 million, which is an increase of 40.74 million from the end of 2016. The rise in the number of connected devices has increased the attack surface. This drives the need to have robust threat intelligence solutions to address the attacks. Also, various government initiatives to speed up the digital transformation also increased the frequency and sophistication of online attacks. The countries including China, India, Singapore have introduced several cybersecurity policies and reforms to ensure stronger data protection.

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The major players in the threat intelligence market are focusing on various business growth strategies such as new product developments and partnerships. This enables them to expand their existing portfolio and increase their geographical reach. For instance, in January 2018, Trend Micro launched a new Managed Detection & Response Service.

Table of Contents (ToC) of the report:

Chapter 5. Global Threat Intelligence Market, By Component

5.1. Key trends, by component

5.2. Platform

5.2.1. Market estimates and forecast, 2014 – 2025

5.2.2. Unified Threat Management (UTM)

5.2.2.1. Market estimates and forecast, 2014-2025

5.2.3. Security Information & Event Management (SIEM)

5.2.3.1. Market estimates and forecast, 2014-2025

5.2.4. Internet Access Management (IAM)

5.2.4.1. Market estimates and forecast, 2014-2025

5.2.5. Incident forensics

5.2.5.1. Market estimates and forecast, 2014-2025

5.2.6. Log management

5.2.6.1. Market estimates and forecast, 2014-2025

5.2.7. Risk & compliance management

5.2.7.1. Market estimates and forecast, 2014-2025

5.2.8. User and Entity Behavior Analytics (UEBA) Infrastructure protection

5.2.8.1. Market estimates and forecast, 2014-2025

5.3. Services

5.3.1. Market estimates and forecast, 2014 – 2025

5.3.2. Professional services

5.3.2.1. Market estimates and forecast, 2014-2025

5.3.3. Managed service

5.3.3.1. Market estimates and forecast, 2014-2025

5.3.4. Subscription services

5.3.4.1. Market estimates and forecast, 2014-2025

5.3.5. Training & consulting

5.3.5.1. Market estimates and forecast, 2014-2025

Chapter 6. Global Threat Intelligence Market, By Format Type

6.1. Key trends, by format type

6.2. Internet-based solution

6.2.1. Market estimates and forecast, 2014 - 2025

6.3. File-based solution

6.3.1. Market estimates and forecast, 2014 - 2025

6.4. Mobile-based solution

6.4.1. Market estimates and forecast, 2014 – 2025

Chapter 7. Global Threat Intelligence Market, By Deployment Model

7.1. Key trends, by deployment model

7.2. On-premise

7.2.1. Market estimates and forecast, 2014 - 2025

7.3. Cloud

7.3.1. Market estimates and forecast, 2014 – 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/threat-intelligence-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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