New York, US, March 20, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), "GLobal Threat Intelligence Platform Market Research Report: by Component, Organization Size, Deployment, Region- Forecast till 2030.” The global threat intelligence platform market will touch USD 14.6 billion at a 15.70% CAGR by 2030, as per the latest Market Research Future report.
The market for threat intelligence is expanding as a result of the growing need for better solutions to secure network infrastructure. To lessen the attack surfaces of a network, businesses in many industries are investing more and more in cutting-edge threat intelligence solutions (network protection). Network protection helps secure the important properties or assets within the network by stopping employees from utilizing applications to access dangerous domains.
Threat Intelligence Platform Market Key Players
Eminent industry players profiled in the global threat intelligence platform market report include:
- IBM Corporation (US)
- FireEye, Inc. (US),
- Symantec Corporation (US)
- Dell Inc. (US)
- McAfee, LLC (US
- Optiv Security Inc. (US)
- PhishLabs (US)
- Check Point Software Technologies Ltd. (Israel)
- Trend Micro Incorporated (Japan)
- AT&T (US)
- AO Kaspersky Lab (Russia)
- Flashpoint (US)
- Webroot Inc. (US)
- Intel 471 (US)
- LogRhythm, Inc. (US)
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Opportunities
Increasing Use of Cloud-Based Services to offer Robust Opportunities
The increasing use of internet-of-things (IoT) devices and cloud-based services will boost market growth over the forecast period. IoT depends on the cloud owing to the storage of data and resources because cloud computing is widely adopted and used around the world. The two computing innovations are vulnerable to security attacks, which is a big problem. Flexibility, data security, regulatory compliance, and high availability and support are all features of cloud-based services. The worldwide threat intelligence market is therefore driven by the growing demand for cloud-based services and internet of things (IoT) devices.
Threat Intelligence Platform Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 14.6 Billion |
| CAGR during 2022-2030 | 15.70% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The strict regulations for data protection is another factor which drives the global threat intelligence platform market. The rise in the number of targeted attacks and ubiquitous advanced persistent threats (APTs) also fuel market growth. |
Restraints and Challenges
Technical Complexities to act as Market Restraint
Technical complexities, lack of solutions and poor infrastructure, poor collaboration with public and private sectors, and lack of awareness regarding cyber threats may act as market restraints over the forecast period.
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Market Segmentation
The global threat intelligence platform market is bifurcated based on component, organization size, deployment, and vertical.
By component, services will lead the market over the forecast period.
By organization size, SMEs will domineer the market over the forecast period.
By deployment, cloud will spearhead the market over the forecast period.
By vertical, BFSI will have the lions share in the market over the forecast period.
COVID-19 Analysis
The Covid-19 has had an impact on a variety of societal facets, including people and businesses. As a last resort, Covid-19 has in fact made everyone reliant on the internet, and the online environment has become crucial everywhere. The main factor that results in cyber-vulnerabilities is this reliance. Cybercriminals have been found to be selling fake Covid-19 treatments while appearing as legitimate institutions via phishing emails, in addition to injecting malware into networks.
The pandemic also has a significant effect on cybersecurity. Online fraud rose by more than 400% in March 2020 compared to the previous months, and Google reported that it was filtering over 18 million emails per day for malware and phishing related to Covid-19.
Regional Analysis
North America to Head Threat Intelligence Platform Market
Many international financial institutions' rising usage of IoT devices and internet users are anticipated to propel the expansion of the threat intelligence solutions within the North American region for the high availability of suitable infrastructure. Globally, both public and private organizations are investing in the R&D to bring cutting-edge threat intelligence products to market. In the global market,
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North America held the greatest revenue share. This large proportion is mostly attributable to the growth in IoT device penetration, the availability of sufficient digital infrastructure, and the advent of various financial institutions looking for standard risk detection solutions. Also, according to the US Department of Health and Human Services, 28 data breaches—including email hacking, malware assaults, and unauthorized access to EHRs—have been recorded in the US in 2020. Because it is both scalable and affordable, cloud computing is viewed as an immediate answer in the medical and healthcare industries. Over the projected period, North America is anticipated to dominate the worldwide threat intelligence market as a result of rising cyberattacks, advancing technology, and the presence of important companies. Rising cyberattacks may be a major factor in this region's threat intelligence market demand.
APAC to Have Favorable Growth in Threat Intelligence Platform Market
The APAC market is predicted to exhibit a high CAGR in the worldwide industry. Due to the severe financial impact of these cyberattacks, businesses & governments in the area have started to increase their investments in threat intelligence solutions. In the APAC area, SMEs and major corporations now have a much higher awareness of cybercrime, which has led to a wider adoption of the threat intelligence solutions & services. The increase of linked devices has increased the attack surface.
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Strong threat intelligence solutions therefore are needed to stop the attacks. The sophistication and frequency of online attacks also have improved due to several government measures to hasten the digital transition. Due to escalating cybercrimes, IoT usage, and cloud-based service use in the Asia Pacific, the market for threat intelligence is expected to expand there more quickly compared to other parts of the world. Demand for security solutions is rising as a result of increasing cyberattacks.
Industry Updates
February 2023- The Intel Exchange (CTIX Lite) solution from Cyware, a pioneer in threat intelligence platforms (TIP), security cooperation, and security orchestration & automation (SOAR), is now accessible on the Amazon Web Services Marketplace. Their cloud-hosted platform in fact is a wholly automated, networked TIP that uses Al and ML to automatically ingest, evaluate, correlate, and respond to threat data received from numerous external sources and internal security technologies.
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