According to the new market research "Threat
Intelligence Market by Solution (Threat Intelligence Platforms, SIEM, IAM, SVM,
Risk and Compliance Management, Incident Forensics), Service (Managed,
Professional), Deployment Mode, Organization Size, Vertical, and Region -
Global Forecast to 2023", The
threat intelligence market size is expected to grow from USD 5.3 billion in
2018 to USD 12.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of
19.7% during the forecast period.
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The
key factors driving the threat intelligence market include rise in
interconnectivity due to Internet of Things (IoT) and Bring Your Own Device
(BYOD) trends; increasing number of targeted attacks and ubiquitous Advanced
Persistent Threats (APTs); organizations’ need to deploy next-gen
cybersecurity; and stringent directives for data protection.
The SIEM segment constituted the largest
market share in 2018
The
Security Information and Event Management (SIEM) solution provides insight into
the activities and track records of organizations’ IT environment. The SIEM
software collects and aggregates log data generated in organizations’ IT
infrastructure, such as host systems, applications, and networks, and security
devices such as firewalls and antivirus filters. It identifies and categorizes
incidents and events, and analyzes them. With the increasing instances of
cyber-attacks, IoT and connected device vulnerabilities, and growing pressure
from cybersecurity regulations, the SIEM segment is expected to garner the
highest revenue during the forecast period.
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The cloud deployment segment is expected to grow at a higher CAGR
during the forecast period
The threat intelligence market by deployment mode
has been segmented into on-premises and cloud. Cloud-based threat intelligence
solutions are gaining traction in the SMEs segment, as they are cost efficient
and do not require purchasing, installing, and maintaining hardware or
software. Scalability, simpler operations, and attractive pricing are boosting
the adoption of cloud-based threat intelligence solutions. Cloud deployment is
also favorable for organizations with strict budgets for security investments.
The BFSI segment is expected to maintain the leading position in terms
of revenue generation during the forecast period
Increased instances of spyware/keylogger, Trojans,
viruses, ransomware, and other malware in the Banking, Financial Services, and
Insurance (BFSI) vertical are driving the adoption of threat intelligence
solutions. The BFSI vertical is also a major target for cyber criminals, as it
holds sensitive information of employees, customers, assets, offices, branches,
and operations. Furthermore, with stricter regulations, and increasing
instances of frauds and cyber-attacks, the need for real-time detection and
protection from advanced threat, and brand protection is driving the growth of
the threat intelligence market in the BFSI segment.
North America is expected to account for the largest market size during
the forecast period
North America is expected to account for the largest
market size in the overall threat intelligence market during the forecast
period. The increase in the number of IoT and connected devices and
vulnerabilities associated with them are some of the factors driving the
adoption of threat intelligence solutions and services. The presence of many
threat intelligence vendors, as well as, widespread awareness about these
solutions would continue to account for the region’s largest market share
during the forecast period.
The threat
intelligence market comprises major solution providers, such as Symantec (US),
IBM (US), FireEye (US), Check Point (US), Trend Micro (Japan), Dell
Technologies (US), McAfee (US), LogRhythm (US), LookingGlass Cyber Solutions
(US), and Proofpoint (US). The study includes an in-depth competitive analysis
of the key players in the threat intelligence market, along with their company
profiles, recent developments, and key market strategies.
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/threat-intelligence-security-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/threat-intelligence-security-market.asp
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