April 15, 2020
According to the research report titled ‘Threat Intelligence Market Size By Component,, By Format Type, By Deployment Type , By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global threat intelligence market to surpass USD 13 billion by the year 2025.
Increased pervasiveness of advanced persistent threats, DDoS attacks and zero-day exploits coupled with increasing number of connected devices are prime factors fostering the demand for threat intelligence services across the globe. Notably, threat intelligence has emerged to be a significant aspect for cyber defense strategies since it lays the groundwork for efficient measures to be deployed in order to avoid cyber exploit.
Growing inclination towards IoT and BYOD has also increased the prevalence of cyber attacks and intrusions, which expose business-critical information. Threat intelligence services acquire large amounts of threat data, conduct analysis and offers actionable insights in the form of alerts and feeds. Government support to strengthen cybersecurity is also driving the market growth.
As per the component type, threat intelligence platform segment held 68% market share in 2018 and is presumed to expand continuously during the forecast period. These platforms incorporate various security functions such as content filtering, intrusion detection and anti-virus in order to protect the network from cyber threats.
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In terms of services, subscription services segment is expected to grow with a CAGR of 22% during 2019-2025. These services help acquire actionable insights pertaining to cyber threats.
By format type, mobile-based solutions segment is poised to acquire a growth rate of 18% through 2025, primarily due to increasing cyber-attacks on smartphones to access personal data.
Based on deployment model, the cloud deployment segment is set to record a growth rate of 20% between 2019 and 2025. Cloud solution eliminate the need for implementation of on-premise threat intelligence services, which further aids in reducing costs. Rising adoption of cloud-deployment models in SMEs owing to their cost-effective nature is aiding the segmental growth.
Citing the application spectrum, threat intelligence market share from BFSI segment was 30% in 2018 and will showcase similar growth throughout the study period. Increasing usage of digital platforms in banking institutions has enhanced the risk of cyberattacks, which in turn is creating growth opportunities for threat intelligence market in BFSI sector.
Considering the geographical landscape, Asia-Pacific threat intelligence market is predicted to expand with a CAGR of 16% through 2025. Escalating sales of smartphones and rising utilization of IoT has increased the pervasiveness of cybercrime. Favorable government initiatives which promote digital transformation has also impelled the sophistication and frequency of online threats, hence fostering the adoption of threat intelligence solutions.
TrendMicro Inc., ThreatQuotient Inc., Symantec Corp., Sophos Ltd., Secureworks Inc. (Dell), Recorded Future Inc., Proofpoint, Palo Alto Networks Inc., Oracle Corp., McAfee LLC, Kaspersky Lab, IntSights, IBM Corp., Group-IB, Flashpoint and FireEye Inc. are the established corporations operating in threat intelligence market.
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