According to FMI’s estimate, the threat intelligence market would develop at a CAGR of 16.9% during the forecast period. The industry’s worth is expected to rise from US$ 11.6 billion in 2023 to US$ 55 billion by the end of 2033.
The demand for threat intelligence is expected to rise in the future years as cyber attacks and crimes become more widespread and sophisticated. The BFSI industry, which has a big customer base and holds crucial financial information, is expected to drive market expansion. ATM malware, mobile banking malware, organisational invasions, tax breaches, data thefts, and other types of cyber risks exist in this area.
Favorable government laws to secure IT systems and procedures in order to protect important consumer data also have a positive impact on the industry. Several private and public banking institutions throughout the world are stressing the use of cutting-edge technology to protect against cyber-attacks. Furthermore, technological advancements have raised customer expectations, and regulatory regulations are compelling baking institutions to take a proactive approach to security and implement threat intelligence solutions.
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Key Takeaways from the Threat Intelligence Industry:
- The United States threat intelligence market is predicted to maintain its dominant position over the forecast period by holding the majority of the market share. By 2033, the market is predicted to gain US$ 9.9 Bn, exhibiting a CAGR of 10.6%.
- Japan is expected to emerge as the fastest-growing country, growing at an impressive CAGR of 23.6% in the coming years. Significant adoption of Japanese companies’ threat intelligence solutions by Fortune 500 clients in segments like financial services, retail, and high-tech manufacturing.
- Under the component category, the solution segment is projected to be the highly-preferred option for adoption by end users. Between 2023-2033, the market is forecast to grow at a CAGR of 13.4%.
- The cloud-based threat intelligence is gaining prominence in the market. The integration of threat intelligence with the cloud empowers businesses to identify and stop the attack in advance. This segment is forecast to exhibit a CAGR of 16.1% over the forecast period.
Recent News Pertaining to the Performance and Developments of Threat Intelligence Key Players
- In February 2022, IBM unveiled the acquisition of Neudesic, which is a US-based cloud services consulting agency. With this acquisition, the company intends to expand its portfolio of multi-cloud services, along with refining its AI and hybrid cloud strategy solutions.
- In March 2022, Fortinet declared a partnership with five other new service providers. These service providers include Microland, Etihad Atheeb Telecom Company “GO,” Spectrotel, Radius Telecoms Inc., and TIME dotcom. The motive of this partnership is to deliver a simpler network architecture having advanced security, to achieve operational efficiency anywhere.
- In March 2021, RBN Insurance Services, a Chicago-based insurance brokerage, announced that it is partnering with RealCISO, which is a security services marketplace. With this partnership, RBN clients will get the chance to conduct risk assessments, and find products and services that meet their requirements.
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Threat Intelligence Industry Survey by Category
By 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
- Advanced Threat Management Managed Service
- Professional Managed Services
- Professional Training and Support Services
- Security Intelligence Feeds Managed Service
By Deployment Mode:
- Cloud-Based
- On-Premises
By Industry:
- BFSI
- Government and Defense
- IT and Telecom
- Healthcare
- Retail
- Manufacturing
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- MEA
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