New Study Reveals Rapid Growth and Emerging Trends in Threat Intelligence Market 2023

The global threat intelligence market is anticipated to grow from USD 15.23 billion in 2020 to USD 38.57 billion by 2028, expanding at a CAGR of 23.2% over the forecast period of 2021–2028, according to a report released by Fior Markets.

The possibility that insider assaults will result in a breach and the loss of data has increased the need for security systems to cooperate with threat intelligence. The incorporation of threat intelligence to counterattack attacks has led to the growth of the threat intelligence market. The adoption of threat intelligence by SMEs is on the rise, and threat intelligence solutions are being deployed in more sectors and industries. Enterprises are concerned about the rising cybercrime scenario in both developed and developing economies. Governments and a lot of big businesses try to close the gap between the money they spend on cybersecurity systems and the best results they can get using the threat intelligence they gather to lessen emerging threats.

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Threat intelligence provides the context necessary to decide on network security in a knowledgeable manner, especially following an attack. Information about threats and threat actors is known as cyber threat intelligence, and it is used to help reduce the likelihood of potentially harmful cyberspace events. Social media intelligence, open-source intelligence, technical intelligence, and dark web intelligence are some of the sources of cyber threat intelligence. Information on cyber threats has many benefits, including helping businesses develop a proactive cybersecurity posture and improve their overall risk management strategies. Enterprises are more susceptible to many cybersecurity breaches as a result of the growing use of cloud platforms, IoT, and other networking technologies. They are therefore urged to purchase threat intelligence platforms in order to improve their capabilities in the face of a rapidly growing cybercrime landscape.

The increase in threat intelligence solutions offered by small-scale organisations is one of the factors driving the global threat intelligence market. The advancement of specialised security solutions for businesses is another significant market driver. Today, businesses of all sizes can compete on the global market. As a result, a key factor in the threat intelligence sector’s profit growth is the widespread use of threat intelligence systems. The market is being constrained by a lack of significant investments. Implementing a threat intelligence solution costs money because it needs to cover an entire organization’s infrastructure. Due to market cost restrictions, no company can rely on threat intelligence solutions. Key companies are working to overcome these obstacles, but more funding and research are needed in this area. Platforms for crowdsourced threat intelligence acquisition will present opportunities for industry expansion. The need for predictive analysis in a company to evaluate long-term risks can be used in market research. Threats are driving organisations to seek innovative solutions. As threats change, the potential for the global threat intelligence market to expand beyond its current limits exists.

IBM, Cisco, Trend Micro, McAfee, FireEye, VMware, AT&T, Check Point, and DXC Technology are some of the leading and innovative vendors in the threat intelligence market. Top companies are increasingly concentrating on strategies like product innovation, mergers and acquisitions, new advancements, joint ventures, collaborations, and partnerships to gain a significant market position in the global threat intelligence market.

• In order to deliver top-notch information on the sources of threats and cyberattacks and thereby increase demand in the telecom sector, Saudi Telecom Business (STC) announced a partnership with Anomali, a cybersecurity company based in the United States, in March 2019.
• SlashNext launched its real-time phishing threat intelligence service in March 2019. Users can get real-time API access to a constantly updated list of phishing URLs, domains, and IP addresses as soon as they are found.

In the year 2020, the Security Analytics segment dominated the market and had the highest market share of 28.12%.

The SIEM, Security Analytics, Security and Vulnerability Management, and Incident Response application categories make up the global threat intelligence market. In 2020, the Security Analytics market segment dominated with a 28.12% market share. This growth can be attributed to the increasing demand for cybersecurity threat detection across network infrastructure and the elevated priority given to preserving regulatory compliance across industries. There is a rising need for security analytics solutions due to increased network complexity and frequent changes in network infrastructure. As security analytics helps businesses identify cybersecurity incidents early, the market for these services is anticipated to grow.

With a market share of 20.33% in 2020, the banking, financial services, and insurance (BFSI) segment dominated the industry.

The government, IT and telecommunications, banking, financial services, insurance (BFSI), retail, healthcare, education, and manufacturing are the different verticals that make up the global threat intelligence market. With a market share of 20.33% in 2020, the banking, financial services, and insurance (BFSI) segment dominated the industry. This expansion is attributed to the industry’s significant investment in threat intelligence in response to the rise of cybercrime and internal security breaches. A strong security posture is required due to the increased frequency of attacks in the financial sector. Security risks are expected to rise as a result of technological advancements in the banking industry, including e-banking, mobile banking, and ATMs. Demand may also rise as a result of stricter regulations and compliance requirements.

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