According to the most recent FMI market estimate, the threat intelligence market is expected to be worth US$ 11.6 billion in 2023. The market is expected to increase significantly by 2033, with a 16.9% CAGR, hitting US$ 55 billion.
As cyberattacks and crimes become more common and sophisticated in the next years, the demand for threat intelligence is anticipated to rise. The BFSI industry, which has a large customer base and manages critical financial data, is expected to drive market expansion. Mobile banking malware, ATM malware, organisational infiltration, tax evasion, data theft, and other cyber risks are examples.
Favorable government regulations that secure IT systems and practices to safeguard crucial consumer data also benefit the sector. In order to defend against cyberattacks, a number of commercial and public banking institutions around the world emphasize the use of cutting-edge technologies. Additionally, technological developments have increased customer expectations and legal requirements are forcing baking establishments to change their business practices.
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Key Takeaways from the Threat Intelligence Industry:
- The United States threat intelligence market is predicted to maintain its dominant position over the forecast period by holding the majority of the market share. By 2033, the market is predicted to gain US$ 9.9 Bn, exhibiting a CAGR of 10.6%.
- Japan is expected to emerge as the fastest-growing country, growing at an impressive CAGR of 23.6% in the coming years. Significant adoption of Japanese companies’ threat intelligence solutions by Fortune 500 clients in segments like financial services, retail, and high-tech manufacturing.
- Under the component category, the solution segment is projected to be the highly-preferred option for adoption by end users. Between 2023-2033, the market is forecast to grow at a CAGR of 13.4%.
- The cloud-based threat intelligence is gaining prominence in the market. The integration of threat intelligence with the cloud empowers businesses to identify and stop the attack in advance. This segment is forecast to exhibit a CAGR of 16.1% over the forecast period.
Recent News Pertaining to the Performance and Developments of Threat Intelligence Key Players
- In February 2022, IBM unveiled the acquisition of Neudesic, which is a US-based cloud services consulting agency. With this acquisition, the company intends to expand its portfolio of multi-cloud services, along with refining its AI and hybrid cloud strategy solutions.
- In March 2022, Fortinet declared a partnership with five other new service providers. These service providers include Microland, Etihad Atheeb Telecom Company “GO,” Spectrotel, Radius Telecoms Inc., and TIME dotcom. The motive of this partnership is to deliver a simpler network architecture having advanced security, to achieve operational efficiency anywhere.
- In March 2021, RBN Insurance Services, a Chicago-based insurance brokerage, announced that it is partnering with RealCISO, which is a security services marketplace. With this partnership, RBN clients will get the chance to conduct risk assessments and find products and services that meet their requirements.
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Threat Intelligence Industry Survey by Category
By Component:
Solution
- Threat Intelligence Platforms
- Security Information and Event Management
- Log Management
- Security and Vulnerability Management
- Identity and Access Management
- Risk and Compliance Management
- Incident Forensics
- User and Entity Behavior Analytics
Services
- Advanced Threat Management Managed Service
- Professional Managed Services
- Professional Training and Support Services
- Security Intelligence Feeds Managed Service
By Deployment Mode:
- Cloud-Based
- On-Premises
By Industry:
- BFSI
- Government and Defense
- IT and Telecom
- Healthcare
- Retail
- Manufacturing
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- MEA
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