Threat Intelligence Market Segment
Threat Intelligence Market Segment
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, August 28, 2024 /EINPresswire.com/ -- According to the report, the global threat intelligence industry generated $11.89 billion in 2022, and is anticipated to generate $30.51 billion by 2032, witnessing a CAGR of 9.9% from 2023 to 2032.
Threat intelligence refers to the process of collecting, analyzing, and utilizing information related to potential or actual cyber threats. The goal is to help organizations understand and mitigate cybersecurity risks more effectively. Threat intelligence provides actionable insights into the tactics, techniques, and procedures (TTPs) used by cybercriminals, helping organizations protect themselves against data breaches, ransomware attacks, and other cyber threats.
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The notable factors positively affecting the threat intelligence market include rise in the number of sophisticated cyberattacks, the growing need to secure critical infrastructure and the extensive adoption of digital technologies. However, high cost associated with threat intelligence solutions and lack of skilled professionals to operate threat intelligence platforms can hinder the market growth. However, favorable government initiatives and investments to enhance cybersecurity infrastructure along with the growing popularity of threat intelligence services offer lucrative market opportunities for the market players.
By application, the security information and event management segment held the highest market share in 2022, accounting for more than two-fifth of the global threat intelligence market revenue, owing to the escalating volume and intricacy of cyber threats, which have rendered it imperative for organizations to harness threat intelligence data to proactively anticipate and counteract potential attacks. However, the same segment is projected to attain the highest CAGR of 11.7% from 2023 to 2032.
By vertical, the IT and telecom segment held the highest market share in 2022, accounting for nearly two-fifth of the global threat intelligence market revenue, and is estimated to maintain its leadership status during the forecast period. This is because they offer prompt and actionable insights into the ever-changing landscape of cybersecurity threats, empowering IT professionals to proactively safeguard networks, systems, and data. However, the BFSI segment is projected to attain the highest CAGR of 12.8% from 2023 to 2032, owing to the existence of regulatory requisites, such as GDPR, and stringent industry compliance standards necessitate the implementation of robust cybersecurity measures; thereby stimulating the adoption of threat intelligence.
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By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global threat intelligence revenue. This is due to the increased adoption of IoT devices by a large number of financial institutions and internet users due to high availability of suitable infrastructure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.1% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the diverse range of threats in the Asia-Pacific region which contributes to the requirement for real-time threat insights, risk reduction, and incident response. This growing demand for advanced security solutions is anticipated to contribute to the growth of threat intelligence market across the Asia-Pacific region.
Leading Market Players: -
Anomali, Inc
Broadcom, Inc.
Cisco Systems Inc.
Check Point Software Technologies Ltd.
CrowdStrike, Inc.
IBM Corporation
Juniper Networks, Inc.
McAfee, LLC
Microsoft Corporation
Palo Alto Networks, Inc.
Trend Micro Incorporated
The report provides a detailed analysis of these key players of the global threat intelligence market. These players have adopted different strategies such as partnerships, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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