NEW CASTLE, Delaware, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Threat Intelligence Market by Component (Solutions and Services), Application (Security Information and Event Management, Government, Risk and Compliance and Business Continuity Planning and Management), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises and SMEs), and Industry Vertical (IT and Telecom, BFSI, Healthcare and Life Sciences, Retail and e-commerce, Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the threat intelligence market was valued at $5.1 billion in 2023, and is estimated to reach $29.7 billion by 2032, growing at a CAGR of 21.6% from 2024 to 2032.
Prime determinants of growth
The global threat intelligence market is growing due to several factors such as rise in number of sophisticated cyberattacks, growing need to secure critical infrastructure and extensive adoption and deployment of digital technologies. However, high cost associated with threat intelligence solutions acts as restraints for the threat intelligence market. On the contrary, favorable government initiatives and investments to strengthen security infrastructure provide opportunities for the market's development during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $5.1 billion |
| Market Size in 2032 | $29.7 billion |
| CAGR | 21.6% |
| No. of Pages in Report | 350 |
| Segments Covered | Component, Application, Deployment Mode, Organization Size, Industry Vertical, and Region. |
| Drivers | Rise in number of sophisticated cyberattacks |
| Growing need to secure critical infrastructure and extensive adoption | |
| Deployment of digital technologies | |
| Opportunities | Favorable government initiatives and investments to strengthen security infrastructure |
| Restraint | High cost associated with threat intelligence solutions |
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The services segment is anticipated to grow faster throughout the forecast period.
Based on the component, the services segment is expected to attain the largest CAGR during the forecast period, owing to the growing use of artificial intelligence (AI) and machine learning to analyze vast amounts of data and identify patterns indicative of potential threats. These technologies enable threat intelligence services to provide more accurate and timely threat detection, automate repetitive tasks, and enhance predictive capabilities.
The security information and event management segment is expected to grow faster throughout the forecast period.
Based on application, the security information and event management segment is expected to attain the largest CAGR during the forecast period, owing to the growing integration of SIEM systems with advanced threat intelligence feeds. By incorporating contextual threat data from external sources, SIEM platforms can provide more comprehensive and actionable insights, enabling organizations to detect and respond to threats with greater precision and speed.
The small and medium-sized enterprise segment is likely to grow faster throughout the forecast period.
Based on organization size, the small and medium-sized enterprise segment is expected to attain the largest CAGR during the forecast period, owing to the growing availability of affordable, scalable threat intelligence services tailored specifically for SMEs. These services offer essential threat detection and response capabilities without requiring large-scale investments or extensive in-house expertise.
The cloud segment is expected to grow faster throughout the forecast period.
Based on deployment mode, the cloud segment is expected to attain the largest CAGR during the forecast period, owing to the growing adoption of cloud-based threat intelligence platforms, which offer scalability and flexibility that on-premises solutions often lack. These cloud-based platforms enable organizations to access and analyze vast amounts of threat data in real-time, without the need for significant infrastructure investments. They provide a centralized, easily accessible repository for threat intelligence, allowing for more efficient and comprehensive monitoring of cyber threats.
The BFSI segment is expected to grow faster throughout the forecast period.
Based on industry vertical, the BFSI segment is expected to attain the largest CAGR during the forecast period, owing to the integration of advanced threat intelligence solutions with existing security infrastructure, such as Security Information and Event Management (SIEM) systems and Fraud Detection Systems (FDS) . This integration enables BFSI organizations to gain real-time insights into emerging threats and anomalies, allowing for quicker detection and response to potential security incidents.
North America to maintain its dominance by 2033.
Based on region, North America held the highest market share in terms of revenue in 2023, owing to the growing adoption of AI and machine learning to enhance threat intelligence capabilities. These technologies enable more sophisticated analysis of large volumes of data, improving the accuracy and speed of threat detection and response. AI-driven threat intelligence platforms are increasingly used to identify emerging threats and predict potential attacks before they occur.
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Major Industry Players: -
- Anomali, Inc.
- Broadcom, Inc.
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- CrowdStrike, Inc.
- IBM Corporation
- Juniper Networks, Inc.
- McAfee, LLC
- Microsoft Corporation
- Palo Alto Networks, Inc.
The report provides a detailed analysis of these key players in the global threat intelligence market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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