Pune, India, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Global Security Intelligence Market Overview
The global Security Intelligence Market is poised for momentous growth over the forecast period (2019-2025), according to the latest report by Market Research Future (MRFR). Security intelligence is gained by accumulating data from security information and event management (SIEM), user behavior analytics, and log management. The online spate of cyberattacks coupled with government policies mandating its use has driven the market demand significantly. Initial hesitancy by enterprises of all sizes for procuring security software has driven the demand for security intelligence.
Dissemination of threats and information related to risks is likely to driven the demand for solutions countering online attacks. Sophistication of attacks combined with increased spending by companies for mitigating risks are new growth opportunities for the security intelligence landscape. Supportive approaches by governments for tackling the menace as well as creation of databases by countries with a shared goal can bode well for the industry. Blockchain and artificial intelligence are likely to bolster the defenses of the software and find increased usage.
But data security issues can threaten the market growth.
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COVID-19 Impact:
The COVID-19 pandemic has highlighted the need for advanced security measures as individuals and corporations move to the confines of their homes for working uninterruptedly. Rise of malicious URLs and phishing scams as online behavior surges is expected to be fruitful for security intelligence firms. The IBM Security X-Force, for instance, has created a team for tracking down threats that aim to target the COVID-19 cold chain of major organizations aiming to distribute vaccines. It has alerted related organizations and encouraged them to adapt secure methods for countering cyber espionage threats.
Industry Trends:
Ransomware is becoming highly prevalent with organizations being held back with risks of exposure of confidential data. Unified approaches by chief technical officers or procurement of analysts capable of handling incoming threats are likely to bode well for the global security intelligence market. Data collection, prevention, detection, and response are four major steps undertaken by teams for ensuring elimination of threats. Creation of firewalls and whitelists for filtering out threats as well as accumulation of intel at high-fidelity networks can bode well for the global market.
Segmentation:
By component, it is divided into solutions and services. The solutions segment is estimated to garner huge demand owing to solving of cybercrimes and rise of doxing of private details of organizations and enterprises. On the other hand, the services segment is likely to gain credibility owing to the use of existing and incoming intelligence for pinpointing visible threats and notifying users. Release of new tools for investigating online incidence and other unusual network behavior can attract new customers.
By organization size, it is segmented into small & medium enterprises (SMEs) and large enterprises.
By deployment, it is segmented into cloud and on-premise. The cloud deployment is estimated to gain steam during the forecast period owing to their cost-effective nature and high costs of maintaining on-premise equipment. Virtualization of hardware and data is estimated to provide the boost to the segment as organizations adopt the model to scale rapidly. Insistence of storage of data publicly as well as data security acts passed by governments can bode well for the global security intelligence market.
By vertical, it is segmented into government & defense, IT & telecommunication, healthcare, BFSI, transportation, retail, and others. The BFSI vertical is likely to adopt security intelligence owing to online transactions increasing rapidly and move to mobile banking and internet banking by financial and non-financial institutions. Compliance to latest security norms amid the latest spate of cyberattacks can favor the market considerably. On the other hand, the healthcare segment is estimated to exhibit a robust growth rate over the forecast period due to health insurers being the primary target of phishing scams.
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Regional Segmentation:
Geographical mapping of the security intelligence market covers namely North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).
North America is set to lead the global security intelligence market owing to being an early adopter of new technologies, vast network infrastructure, and access to security solutions. The U.S. is expected to lead in the region owing to presence of various players, rapid industrialization, adoption of IoT and IIoT, and government policies. The use of identity and access management for authorizing users according to their level as well as pinpointing data breaches can drive the market demand in the region.
APAC is expected to be the fastest growing region during the forecast period owing to countries of China, India, and Japan. Cloud-based security solutions and shift to digitization can drive the demand for security intelligence in the region. Emergence of small and medium enterprises as well as digital initiatives can bode well for the market. Adoption of BYOD and integration of AI, cloud, and big data analytics will favor the market growth reasonably.
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Competitive Analysis:
The security intelligence market is highly competitive in nature owing to the dynamic nature of online threats and product differentiation by companies through subscription models. Research and development efforts as well as investment efforts by large enterprises for expediting the capacity of security software for perceiving threats can define the market landscape.
Key players involved in the market
- Palo Alto Networks
- Check Point
- Kaspersky Lab
- Intel Corporation
- LookingGlass Cyber Solutions
- Symantec
- Alienvaul
- IBM Corporation
- Trend Micro
- Dell Technologies
Browse Adjacent Markets: IT Security Market Research Reports & Consulting.
Industry News
Kaspersky Labs has launched threat intelligence reports for automakers with possible threats concerning connected vehicles and other vehicle components. The customized report for individual organizations aims to stem the flow of cyberattacks owing to growing regulations and integration of new equipment for customer convenience, safety, and entertainment.
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