PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290816
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290816
Threat Intelligence Market size was valued at USD 11,607.9 Million in 2022, expanding at a CAGR of 8.2% from 2023 to 2030.
The process of gathering, examining, and spreading knowledge regarding possible and actual cyber threats to an organization is known as threat intelligence. It is a kind of cybersecurity intelligence that is utilized to spot and address online threats, weaknesses, and possible assaults before they can hurt the company. Threat intelligence entails gathering information from a range of sources, including internal logs, dark web surveillance, and open-source intelligence. The patterns, developments, and possible dangers in this data are then examined. The data is used to educate security personnel and decision-makers about possible vulnerabilities, attack routes, tactics, methods, and procedures (TTPs) utilized by attackers.
A crucial trend that is becoming more popular in the threat intelligence industry is technological development. Threat intelligence is improving technology, and new technologies are being created that help provide knowledge that extends within an attacker's capabilities, avoid cybersecurity threats, plus be future-proof. One such example is the EclecticIQ Platform, which puts "Intelligence at the core" of cyber defense and was introduced in 2021 by EclecticIQ, a prominent worldwide threat intelligence, to hunt, and reply technology provider. Since a few years ago, cybercrime has increased and shows no signs of abating. Because of the epidemic, more people are working from home, which has increased the frequency of cyberattacks. Work-from-home policies are being implemented by businesses, which is causing security issues for the company. Some businesses that had significant cyberattacks in 2021 include Channel Nine, Harris Federation, Florida Water System, Bombardier, CAN Financial, Microsoft Exchange, Acer, and Sierra Wireless.
The Global Threat Intelligence Market is segmented on the basis of Type, end-use industry, Deployment, and Region.
The market is divided into two categories based on Type: Solution and Service. Solution Intelligence dominates the market. Real-time information from threat intelligence technologies may help operational security teams work more efficiently and with less wasted time. The industry is favorably impacted by the growing usage of solutions including user and entity behavior analytics, compliance and risk administration, authentication and authorization, log executives, protection and vulnerability supervisors, incident forensics, and safety data and event administration.
The market is divided into six categories based on end-use industry: BFSI, IT and Telecommunications, Retail, Manufacturing, Healthcare, and Other Industries. The BFSI sector dominates the market and is likely to maintain its dominance during the forecast period. The BFSI industry is one of the vital infrastructure segments facing multiple data breaches and cyberattacks due to the large customer base served by the sector and endangered financial information. A highly profitable operating model with incredible returns and the added benefits of relatively low risk and detectability, cybercriminals are many malicious cybers to cripple the financial sector.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. In the worldwide market, North America had the greatest revenue share. This large proportion is mostly attributable to the growth in IoT device penetration, the availability of sufficient electronic infrastructure, and the advent of various financial institutions looking for standardized risk detection services. Additionally, rising data breaches throughout the United States are anticipated to fuel market expansion. A record 1862 data breaches happened in the US in 2021, according to a study released by the Identity Theft Resource Center (ITRC). This quantity exceeded the previous high of 1506 breaches recorded in 2017 and was a 68% increase over the 1108 breaches in 2020.
The Threat Intelligence industry is quite cutthroat, with many vendors providing a wide range of products and services. The range and complexity of their threat intelligence information, the quality of their evaluations and information, the capacity and adaptability of their offerings, and their pricing strategies are just a few of the several areas in which these businesses compete. The market is also quite dynamic, with novel vulnerabilities and attack vectors always developing. As a result, threat intelligence companies must continue to innovate and remain at the forefront of their industry in order to stay competitive. In April 2023, Thales announced the beginning of SCRED1, a collaboration with 11 French cybersecurity-focused businesses and organizations. Over the course of the next three years, the project's objective is to develop a unified platform to provide businesses and governmental organizations with services related to cyber threat intelligence.
In April 2023, Leading cybersecurity company Technisanct has announced the debut of Falconfeedsio, an innovative platform for cyber threat information. By giving security experts and enthusiasts useful threat intelligence data and associated insights, the platform intends to democratize cyber security.
The scope of this report covers the market by its major segments, which include as follows: