New York, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global threat intelligence market size is projected to grow at a CAGR of over ~ 16 % from 2023 to 2035. The market is expected to garner a revenue of USD 55 billion by the end of 2035, up from a revenue of ~USD 11 billion in the year 2022. The growth of the market can be dominated by growing users on social media. One of the most popular online activities is the use of social media. Globally, more than 3 billion people used social media in 2021, and that number is expected to rise to approximately 5 billion by 2027. However, social media is considered to be more prevalent in the cyber-attack.
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Social media is being utilized more frequently by threat actors to target customers, VIPs, and companies. Social media's anonymity and wide audience attract a variety of undesirable actors, putting businesses in significant danger. About 20 percent of organizations globally were victims of about 2 to 10 social media attacks, according to a 2021 poll. Additionally, social media-based cyberattacks were the source of approximately 10 to 50 attacks for close to 33% of respondents. Scammers use a variety of threats to target this group, such as social media impersonation plans, defamation, physical harm, and fake advertisements. As a result, companies have to spend a lot of funds clearing up after losses due to fraud and brand harm. Therefore, the use of threat intelligence is growing.
Threat Intelligence Market: Key Takeaways
- Market in the North America market to garner the highest share.
- The SMEs segment to garner the highest revenue.
- Market in Asia Pacific to grow at a significant rate.
Rise in the Amount of Data Generated to Boost the Growth of the Global Threat Intelligence Market
The most recent estimates indicate that about 327 million terabytes of data are produced daily in the world. However, a large number of organizations compromise in securing the data. Hence, provides an opportunity for the cybercriminal to steal the data. Moreover, organizations spend about USD 17 million a year on cyber security techniques and technologies. However, only approximately 52% of IT departments have determined how to use every technology they have put in place and whether or not it is effective. As a result, the focus on threat intelligence is estimated to grow in the coming years.
Threat Intelligence Market: Regional Overview
The global threat intelligence market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Number of People Working from Home to Boost the Market Growth in North America
The market in North America is anticipated to garner the highest share of 35% by the end of 2035. The growth of the market in this region could be attributed to the growing number of people working from home. According to new 2021 American Community Survey (ACS) 1-year estimates issued by the U.S. Census Bureau, the percentage of persons who predominantly work from home quadrupled between 2019 and 2021, rising from 5.7% (approximately 9 million people) to 17.9% (27.6 million people). With this, the prevalence of cyber-crime is also growing. Companies are experiencing more cyber risk as working from home opens the door to new types of data theft. Workers may also constitute a weak link in company IT security systems, making them more vulnerable to cybercriminals aiming to acquire company records, consumer information, and proprietary information.
Surging Internet User to Influence Market Growth in Asia Pacific Region
The Asia Pacific threat intelligence market is anticipated to have significant growth in the coming years. This could be owing to the rising number of internet users. The percentage of Asians who used the internet in 2022 was about 66 percent, more than twice as high as it was in 2011. However, although there are certainly clearly new advantages to the internet, there also exist new issues as cybercriminals attempt to take advantage of the population's allegedly increasing dependency on connectivity. As a consequence, the utilization of threat intelligence is rising in this region.
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Threat Intelligence, Segmentation by Organization Size
- SMEs
- Large Enterprise
The SMEs segment is poised to have the significant growth over the forecast period. The growth of the segment is influenced by growing number of SMEs business. In 2021, there are projected to be about 331 million SMEs globally, a small increase from the close to 32 million expected in 2019. Further, they are more prone to cyber attacks which cost them huge funds. Hence, they are adopting threat intelligence in order to avoid further expenses.
Threat Intelligence, Segmentation by End-User
- BFSI
- Government & Defense
- Education
- IT & Telecom
- Manufacturing
- Healthcare
- Energy & Utilities
- Retail
IT & telecom segment is anticipated to capture the highest share of about 32% over the forecast period. The growth of the segment could be attributed to the growing cyber threat in this sector. The third most vulnerable sector was the communications industry, which saw a about 50 percent rise in attacks in 2021. Due to the fact that private information is sent and stored in vast quantities through the telecommunications system, malicious actors have a motivation to target it. Additionally, telecommunications companies are under attack from two directions as they are subject to direct cyberattacks from hackers who seek to compromise their organization and network performance, as well as indirect attacks from individuals after their subscribers. As a result, the need for threat intelligence is on the rise.
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Threat Intelligence, Segmentation by Component
- Solutions
- Services
Threat Intelligence, Segmentation by Type
- Strategic
- Tactical
- Operational
Threat Intelligence, Segmentation by Deployment
- Cloud
- On-Premise
A few of the well-known market leaders in the global threat intelligence market that are profiled by Research Nester are IBM Corporation, Dell Inc., Trend Micro Incorporated, Webroot Inc., Splunk Inc., ALIENVAULT, INC., F-Secure, LogRhythm, Inc., Check Point Software Technologies Ltd, FireEye, Juniper Networks, Inc., and others.
Recent Development in the Market
- In order to assist businesses in preparing for and managing the growing number of cyberattacks on firms in the Asia-Pacific region, IBM Corporation announced its investment in resources.
- With the goal to guarantee security for connected cars and electric vehicles, Trend Micro Incorporated announced the release of VicOne.
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