Chicago, July 29, 2024 (GLOBE NEWSWIRE) -- The Threat Hunting Market is set to grow significantly. It is expected to be worth around USD 3.4 billion in 2024 and increase to about USD 6.9 billion by 2029 at a CAGR of 14.9% during the forecast period.
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Threat Hunting Market Dynamics:
Drivers:
- Increased Frequency & Intensity
- Sophisticated Adversaries
- Faster Attacks
- Need for Proactive Defense
- Advanced Techniques
- Growing Demand
Restraints:
- Budget Constraints
- Demonstrating ROI
Opportunities:
- Consistent accuracy
- Unparalleled pattern detection
- Task automation
List of Top Companies in Threat Hunting Market:
- IBM
- Kaspersky
- Capgemini
- CrowdStrike
- Trustwave
- Verizon
- SecureWorks
- Sangfor
- Eviden
- Rapid 7
Rising cyberattacks force organizations to adopt proactive threat detection methods, which will drive the market. Also, the increasing dependence on digital data across various industries makes them prime targets, creating a growing need for advanced security solutions beyond traditional reactive measures.
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Trend: Rise of generative AI
The rise of generative AI presents a concerning trend in the threat-hunting market, as it has the potential to lower the barrier of entry for low-skilled adversaries. Generative AI algorithms can automate and accelerate the creation of sophisticated phishing emails, malware variants, and even deepfakes, making it easier for cybercriminals to launch targeted attacks with minimal technical expertise. This automation allows adversaries to quickly adapt their tactics to evade traditional security measures, posing a significant challenge for threat hunters tasked with detecting and mitigating these emerging threats. As a result, there is a growing imperative within the threat-hunting market to develop advanced AI-driven detection and response capabilities that can effectively counteract the evolving sophistication and accessibility of AI-powered cyber threats.
Trend: Adversaries are advancing their capabilities to exploit vulnerabilities in the cloud
As businesses increasingly adopt cloud technologies to enhance flexibility, scalability, and operational efficiency, adversaries are advancing their capabilities to exploit vulnerabilities unique to cloud environments. The dynamic nature of cloud infrastructure, coupled with complex configurations and shared responsibility models, creates new avenues for cyber threats such as data breaches, unauthorized access, and service disruptions. As per the Global Threat Report 2024 published by CrowdStrike, "Cloud-conscious cases increased by 110% YoY" and "Cloud environment intrusions increased by 75% YoY." Adversaries leverage sophisticated techniques, including cloud-specific attacks, such as misconfigurations, weak access controls, and API vulnerabilities, to infiltrate networks and evade detection. This trend underscores the critical importance of threat hunting in cloud security strategies. Threat hunters must employ advanced analytics, threat intelligence, and proactive monitoring to detect and respond to these evolving threats effectively. Threat hunting helps organizations mitigate risks, protect sensitive data, and maintain trust in their digital operations amidst the evolving threat landscape by continuously assessing cloud environments for anomalies and suspicious activities.
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By vertical, the healthcare segment has the highest CAGR in the global forecast.
The increasing digitization and interconnectedness of healthcare systems and data will drive the segment growth. The healthcare sector is increasingly targeted by ransomware attacks that can disrupt critical services and patient care. Adversaries exploit vulnerabilities in outdated systems, human error, and phishing attacks to gain unauthorized access and encrypt data. Threat hunting helps healthcare organizations detect ransomware early, identify indicators of compromise (IoCs), and mitigate the impact of such attacks through rapid response and recovery.
SMEs have the highest CAGR during the forecast period by organization size.
SMEs often need more dedicated cybersecurity teams and resources than larger enterprises. This makes them attractive targets for cybercriminals, who perceive them as more straightforward to breach. Threat hunting addresses this vulnerability by providing SMEs with proactive detection and response capabilities that enhance their overall cybersecurity posture. Also, SMEs frequently collaborate with larger enterprises or third-party vendors within their supply chain. This interconnectedness exposes them to supply chain attacks and security vulnerabilities that could compromise their operations.
Opportunity: Adoption of AI-based tools for threat hunting
The growing adoption and effectiveness of AI-based tools in threat hunting present a significant opportunity in the market. As per the report published by Censys, nearly half of threat hunters report that their investigations are initiated by anomalies detected by AI-powered tools, and a substantial majority find these tools "very helpful," there is clear evidence of their impact. AI's ability to analyze vast amounts of data quickly and detect subtle patterns or anomalies that human analysts might overlook enhances the efficiency and efficacy of threat-hunting efforts. This capability accelerates investigations and enables proactive threat detection and response, mitigating risks before they escalate into serious incidents. As the use cases for AI in threat hunting continue to expand—from anomaly detection to behavioral analysis and predictive modeling—threat hunters are increasingly inclined to integrate AI-driven tools into their workflows to stay ahead of evolving cyber threats. This trend underscores a growing market demand for advanced AI technologies tailored for cybersecurity, driving innovation and investment in AI-driven threat-hunting solutions.
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