The Threat Intelligence Market size was valued at USD 12.32 billion in 2022 and is projected to reach USD 21.17 billion by 2031, with a CAGR of 6.2 % during the forecast period 2023–2031.
Threat intelligence is data that has been evaluated, polished, and structured regarding a current or possible attack that threatens a particular business or organization. Threat intelligence assists enterprises in understanding the gravity of potential attacks, such as sophisticated persistent exploits or threats and zero-day threats. There are three broad classifications of threat intelligence: tactical, operational, and strategic. TTP, or tactical threat intelligence, provides more particular information regarding a threat's tactics, techniques, and procedures. Operational threat intelligence focuses on the kind, timing, and motive of threat actors and their capabilities, tools, and strategies.
Strategic threat intelligence is concerned with the overarching risks connected with cyber threats, which are utilized to influence organizational strategy at the highest level. A threat intelligence system assists organizations by highlighting specific security measures and focusing on the parts of a business or organization most susceptible to attack. Threat intelligence gives the context required to make informed network security decisions, particularly after an attack. Cyber threat intelligence is information about threats and threat actors that aids in mitigating damaging cyberspace events.
Cyber threat intelligence sources include social media intelligence, open-source intelligence, technical intelligence, and dark web intelligence. Cyber threat intelligence offers a number of advantages, including the ability to build a proactive cybersecurity posture and strengthen overall risk management strategies. As enterprises continue to use cloud platforms, IoT, and other networking technologies, they become increasingly vulnerable to a variety of cybersecurity attacks. Therefore, pushing them to use threat intelligence platforms to bolster their capacities against a cybercrime ecosystem that is continually growing.
|Market Size||USD 21.17 billion by 2031|
|Fastest Growing Market||Europe|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Nowadays, cyber-attacks are well-planned and efficient, and organizations are striving to resist these attacks. Cyber-attacks are considered a persistent threat to businesses and organizations. Some businesses identify them before time, while the majority of them do not notice these attacks. According to the research study by IBM Cost of Data Breach Study, 48% of criminal attacks were due to purposeful intent. Human error accounted for 27%, and system errors accounted for 25% of the root cause of data breaches. The technology ecosystem delivers a stream of disruptive innovations that have positive implications for organizations and individuals. In addition to this, attackers constantly upgrade their procedures in order to attack advanced cybersecurity systems. Hence, organizations that have sensitive personal data, such as financial information, medical records, and others, are increasingly investing in cybersecurity. Threat intelligence organizations will lose customer loyalty if their security system is breached, so it is crucial for them to upgrade their security systems. Business-to-business companies are also adopting advanced cybersecurity solutions, such as threat intelligence, due to the increased possibility of being blacklisted in the marketplace if they are not considered to be secure. Therefore, organizations are increasingly adopting threat intelligence to estimate, identify and prioritize active and nascent threats to decrease exposure and adopt defenses.
Multiple industrial verticals undergo a global shift as a result of the changing technology landscape. Consequently, digital technologies and industrial systems have merged into a unified ecosystem. This presents significant prospects for M2M communication and IoT technologies. Industries require secure control systems, particularly for equipment deployed in difficult situations, such as subsea oil wells or mines. The failure of this equipment under these conditions has the potential to be catastrophic since it can result in substantial financial losses and endanger the lives of a number of individuals in the immediate area of these installations. In response to COVID-19, the deployment of digital technology has risen further.
Investments in threat intelligence solutions are vital for sustaining an economy's overall stability and enhancing a country's security posture. For smooth and safe operations, the adoption of threat intelligence solutions necessitates enterprise-wide coverage, which increases infrastructure expenses. Consequently, threat intelligence solutions are an expensive investment for a number of operators. Current threat intelligence requirements necessitate strong multi-factor authentication to ensure that only authorized persons have physical and logical access to essential assets. Due to limited resources, operators choose multi-threat solutions to pricey threat intelligence systems.
Governments and commercial companies in all regions are investing in research and development for the introduction of enhanced threat intelligence systems. The Vital Infrastructure Security and Resilience (CISR) R&D plan emphasizes increasing the security of communities' critical infrastructure, including critical infrastructure owners and operators, government and corporate organizations, and international partners. The CISR R&D encourages action plans to deploy solutions for strengthening the resilience of critical infrastructure at the local, regional, and national levels. Together with the Joint Research Centre (JRC), the European Reference Network for Critical Infrastructure Protection (ERNCIP) has produced tools, approaches, and scientific publications to defend critical infrastructures against threats and breaches. Investments in R&D are essential for securing vital infrastructure against cyberattacks. Public-private partnerships initiated by the United States, Europe, and Australian governments emphasize information sharing among governments, private entities, and owners and operators of critical infrastructure to enhance the existing research network for maintaining the resilience and security of the critical infrastructure.
The global market for Threat Intelligence has been segmented based on geography into North America, Europe, Asia Pacific, and LAMEA.
Asia-Pacific is expected to be the fastest-growing region during the forecast time period. Due to escalating data theft and cyberattacks, China, Japan, and India have seen an increase in the number of large corporations and SMEs investing in security systems. The increasing number of cyber-crime activities in software applications, the growing demand for mobile & web applications, and the rising government & legislative by-laws are predicted to fuel the market expansion in the Asia-Pacific region.
In 2021, Europe's demand for threat intelligence solutions reached USD 7586 million. The European government and regional authorities have mandated that service providers follow new information security standards or suffer repercussions. In addition, the Federal Government is making a significant commitment to cyberspace security to sustain and enhance social and economic success.
The Middle East and Africa are expected to develop at a 23.1% CAGR between 2021 and 2031. The expansion is attributable to government efforts to strengthen the nation's cybersecurity capabilities. In addition, the fast use of digital technology has made the region a target for a wide variety of cyber attacks, increasing the demand for threat intelligence solutions.
The global market for Threat Intelligence is categorized by Solution, Services, Deployment, and Application.
Based on Solution, the market is segmented into Unified Threat Management, SIEM, IAM, Incident Forensics, Log Management, and Third Party Risk Management.
Identity and access management (IAM) solutions are expected to increase at a healthy CAGR of 16.5% throughout the forecast period. Effective security standards for user authentication and authorization based on access levels have contributed to the segment's growth. Moreover, when businesses migrate to cloud services, IAM plays a crucial role in enabling employees to manage and access apps and data without compromising security protocols.
The solution helps security teams to identify compromised individuals and related data in the event of a breach, which is anticipated to boost its application in enterprises and contribute to market expansion. During the projection period, Incident Forensics is anticipated to grow and flourish at a higher CAGR of 19.3% compared to other solutions. The growth of the solution can be attributed to its ability to track the progression of a security event. Incident forensics provides a company with a clear picture of security events and identifies the core cause of the breach, securing and empowering an organization's security posture with an effective approach.
The market is segmented based on services: Professional Services, Managed Services, Subscription Services, and Training & Support.
The managed services sector commands a significant market share and is likely to maintain its dominance during the forecast period. Over the forecast period, the segment is expected to increase and rise at a substantial CAGR of 19.2%. The segment's expansion can be ascribed to the establishment of a solid intelligence foundation, redemption visibility, monitoring, and control of an organization's security.
Threat intelligence managed services offer security management based on information received from users' business environments and threat landscape dynamics. It feeds data points into systems that are automated with analysis and algorithms to detect significant occurrences and alert the customer further. Furthermore, the service provider modifies the organization's security posture for greater protection, which is projected to drive the threat intelligence managed services market.
Based on Deployment, the market is segmented into Cloud-Based and On-Premise.
Cloud-based deployment is expected to rise at an 18.0% CAGR during the projection period. Because cloud-based solutions are more cost-effective, businesses are shifting away from on-premise solutions. Furthermore, enterprises are struggling to manage on-premise solutions due to difficulties such as a lack of experience and resources and financial limits. The popularity of the public cloud is rising, resulting in a significant demand for cloud-based security solutions. Because of the expanding acceptance of cloud storage systems, cloud-based security adoption is projected to rise in the near future. Russia and Australia, for example, have enacted severe restrictions requiring data to be stored on home cloud servers rather than on international cloud servers. For example, Australia enacted 13 new Australian Privacy Principles (APPs) to ensure cloud security in the private and public sectors.
As government entities choose cloud platforms for data exchange, the industry is projected to see an increase in projects that include the usage of the cloud. Cloud platforms have resulted in significant cost reductions, and various commercial and government organizations are transitioning to cloud storage, leading to high growth for cloud security solutions.
Based on Application, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail, Government & Defense, Manufacturing, and Others.
The threat intelligence market is predicted to grow rapidly in the BFSI sector. Rising threat intelligence spending throughout the industry in reaction to rising cybercrime and internal breaches. Furthermore, the frequency of attacks in the financial sector is increasing, necessitating the development of a strong security posture. Banking industry advancements such as e-banking, mobile banking, and ATMs are likely to raise security risks. Additionally, higher compliance and regulations are projected to drive demand during the projection period.
Over the projection period, threat intelligence in the healthcare industry is expected to increase at a healthy rate. Health insurers have been identified as a primary target of cyberattacks such as spear phishing and Advanced Persistent Threats (APT). The increasing number of breaches in this industry opens up more opportunities for cybersecurity professionals to provide a comprehensive solution to threat intelligence in institutions.