New York, USA, Feb. 14, 2023 (GLOBE NEWSWIRE) -- As per Research Dive’s latest report, the global threat intelligence security solutions market is anticipated to rise at a stunning CAGR of 7.8%, thereby garnering a revenue of $18,320.4 million in the 2020-2027 timeframe. This latest report, published by Research Dive, provides a brief outlook of the contemporary architecture of the threat intelligence security solutions market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2020-2027. All the important market figures are also provided in this report to help new entrants gain insights about the market easily.
Dynamics of the Market
Drivers: Growing number of cyber vulnerabilities across the world is predicted to be the primary growth driver of the market in the forecast period. Additionally, support from government and private institutions to develop security solutions to tackle the threat of cyber-attacks is predicted to drive the threat intelligence security solutions market forward in the forecast period.
Opportunities: Research and development in the field of cyber security is anticipated to provide huge growth opportunities in the forecast period. Along with this, growing government investment in cyber security infrastructure is predicted to push the market forward.
Restraints: However, despite the various growth drivers and growth opportunities, lack of advanced professionals for advanced threat intelligence security solutions is predicted to be a major restraint in the full-fledged growth of the threat intelligence security solutions market.
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Impact of Covid-19 on the Market
The Covid-19 pandemic has had a major impact on the threat intelligence security solutions market. The lockdowns and travel restrictions put in place to curb the spread of the virus led to shift in the work culture and gave rise to work-from-home culture. As a result, technology and digital services became all the more important due to which development of cyber security solutions became a necessity. Thus, a growth in demand for such security solutions led a growth in the market in the forecast period.
Segments of the Market
The report has fragmented the threat intelligence security solutions market into certain segments based on application, service type, deployment type, organization type, vertical type, and region.
Application: Identity & Access Management Sub-segment to be the Most Dominant
By application, the identity & access management sub-segment is expected to have a dominant market share and grow with a CAGR of 7.2% by 2027. The increasing adoption of connected devices, Bring Your Own Device (BYOD), Internet of Things (IoT), etc. is expected to be the main factor behind the growth of this sub-segment.
Service Type: Managed Services Sub-segment to be the Most Lucrative
By service type, the managed services sub-segment is expected to have a lucrative growth and grow at a CAGR of 7.1% during the forecast period. Increasing cyberattacks, high cost of data loss, and lack of IT skilled professionals has forced enterprises to leverage managed services which is expected to be the main growth drivers of the sub-segment.
Deployment Type: On-Premise Sub-Segment to be the Most Profitable
By deployment type, on-premise sub-segment is expected to be the most dominant sub-segment in the 2020-2027 timeframe and reach a CAGR of 5.9% by 2027. The extensive rise in adoption of enterprise application softwares by various organizations is expected to help this sub-segment grow in the forecast period.
Organization Type: Large Enterprises Sub-segment to be the Highest Contributor
By organization type, the large enterprises sub-segment of the threat intelligence security solutions market is expected to have a dominant market share and grow with a CAGR of 6.3% by 2027. The ability of large enterprises to maximize profits and reduce the cost of business is expected to be the main factor behind the growth of this sub-segment.
Vertical Type: Government & Defense Sub-segment to Flourish Immensely
By vertical type, the government and defense sub-segment is expected to have a lucrative growth and increase at a CAGR of 7.3% by 2027. Rise of data analytics, coupled with AI-enabled technologies is expected to be the main growth drivers of the sub-segment.
Region: Market in Asia-Pacific Region to Have the Highest Market Share
By regional analysis, the threat intelligence security solutions market in the Asia-Pacific region is predicted to have the highest CAGR of 8.4% by 2027. Rise in cyber attacks and vulnerability of data is adversely impacting the revenue of the developing economies in this region. This is expected to increase the demand for threat intelligence security solutions and push the market in this region.
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Prominent Market Players
Some leading market players of the threat intelligence security solutions market are
- IBM Corporation
- McAfee LLC
- Fortinet Inc.
- Webroot Inc.
- Symantec Corporation
- DXC technology
- Dell Inc.
- Juniper Networks Inc.
- FireEye Inc.
- Fortinet Inc.
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market.
For instance, in June 2022, Microsoft, a leading technology company, announced that it was acquiring Miburo, a cyber-security solutions provider. This acquisition will help Microsoft to further consolidate its position in the computer technology market and increase its market share in the coming period.
Finally, the Research Dive report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Threat Intelligence Security Solutions Market:
- Threat Intelligence Security Solutions: Significance, Types, and Tools
- All You Need To Know About Threat Intelligence Security Solutions Preferred by Most Businesses
- Work-From-Home Trend to Propel the Growth of Global Threat Intelligence Security Solutions (TISS) Market during the Covid-19 Pandemic
