As per the findings of a revised market research by Future Market Insights (FMI), the worldwide threat intelligence market reached a valuation of around US$ 7.7 Bn in 2020, and is anticipated to surge at a CAGR of 16.3% over the next ten years.
The surging threat of cyber-attacks against organizations and entities has made traditional cybersecurity measures virtually outdated which has given rise to the requirement of threat intelligence.
It is the knowledge that helps organizations to comprehend the risks caused by common and severe external threats. The organizations around the world are increasingly facing risks like zero-day threats, and exploits.
Thus, solutions such as threat intelligence help to inform an organization about prevailing or emerging hazard to their resources and provides with intelligent decisions as a response to them.
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Key Takeaways from Market Study
- The South Asia & Pacific market is expected to offer lucrative growth opportunities due to the increasing investments to upgrade the critical IT infrastructure.
- The market in the U.S. is projected to expand at a CAGR of 10.4% through 2031, while that in Germany at around 11.1%.
- Market growth in China, Japan, and India is expected to be much higher, at around 16.4%, 23.5%, and 26.4%, respectively.
- Despite China’s dominance in East Asia, Japan and South Korea will emerge as markets with stronger potential, exhibiting 23.5% and 20.1% CAGR, respectively through 2031.
“Key players are focusing e on continuous developments and implementation of new solutions such as threat intelligence platforms and real-time threat intelligence for protecting organizations against the cyber-attacks. Incorporation of advanced threat management features will create attractive opportunities for the threat intelligence market,” says a Future Market Insights (FMI) analyst.
Impact of COVID-19 on Threat Intelligence Market
The COVID-19 pandemic outbreak has created disruption in many industries, including the threat intelligence market. Many private as well as government organizations have allowed their employees to work from home amid the lockdowns, which has created need for monitoring the network security proactively, as people are remotely connected consuming enterprise resources and sharing documents using collaboration tools. Business are increasingly adopting security solutions to manage such security risks in the new home-working environment
Amid the COVID-19 lockdown, there has been surge in potential cyber-attacks such as email phishing, VPN-based attacks, enterprise network attacks and other threat vectors. According to a leading IT security company Barracuda Networks, there has been a surge in spear-phishing email attacks since January 2020, where they detected more than 9000 phishing emails linked to COVID-19 financial donation subjects, alone in the month of March 2020. Hence, implementation of threat intelligence solutions would be highly valuable for the enterprises to conduct forensics investigation by analyzing such security incidents to safeguard the intellectual enterprise data.
Implementation Of Digital Technologies Driving Market Growth
With increasing reliance on digital information and sharing of huge amount of data across worldwide, has created many different forms of targeted attacks. Advanced technologies offers new capabilities and features, but also increases the risk.
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As, the cyber security landscape is continuously evolving, it is not possible for organizations to protect their assets from all types of cyber-attacks and data breaches. As a result, the information and data are at risk. There is been high need to upgrade the traditional security solutions that are already installed within the premises. According to 2018 SANS Institute survey, 81 percent of enterprises in 2018 have integrated Cyber Threat Intelligence capabilities.
More Valuable Insights on Threat intelligence Market
A new market research report published by Future Market Insights (FMI) on the global threat intelligence market includes global industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides valuable insights on the basis of component (solution (threat intelligence platforms, security information and event management, log management, security and vulnerability management, identity and access management, risk and compliance management, incident forensics, user and entity behavior analytics) services (professional service (consulting services, and training and support), managed service(security intelligence feeds, and advanced threat management)), deployment mode (cloud-based, and on-premises), industry (BFSI, government and defense, IT and telecom, healthcare, retail, manufacturing, education, and others), and across six major regions.
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The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.