Threat Intelligence Platform Market Research Report- Forecast till 2024
According to Market Research Future (MRFR), the global threat intelligence platform market is projected to reach USD 6.6 billion, with a CAGR of 21.4% from 2019 to 2024 (forecast period). The report discusses and explores the influence of the outbreak of COVID-19 on the global threat intelligence platform market, including potential opportunities and challenges, drivers, and risks.
Threat intelligence platforms are vital security tools, as the volume and complexity of threats are rising exponentially. The platform detects malicious activity inside the enterprise network. Platforms are deployed as SaaS or on-premise solutions to promote the management of cyber threat intelligence and related entities such as actors, campaigns, incidents, signatures, bulletins, tactics, techniques, and procedures (TTP). The platform is capable of aggregating intelligence from multiple sources and can be combined with existing security systems. The platform analyses data and shares insights relevant to the threat intelligence.
The increasing level of interconnectivity due to the growing adoption of Internet of Things (IoT) technology and rising BYOD trends are responsible for a large number of connected devices. Enterprises need to deploy next-generation cybersecurity solutions, like threat intelligence platforms, which fuel market growth. The strict regulations for data protection are another factor driving the global market for threat intelligence platforms. The increase in the number of targeted attacks and pervasive Advanced Persistent Threats (APTs) also drive market development. The inability of small and medium-sized companies to have robust threat intelligence solutions due to their high costs is one of the factors restricting the growth of this market.
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The global threat intelligence platform market has been segmented into component, organization size, deployment, and vertical.
By component, the global threat intelligence platform market has been segmented into solutions and services. The services segment has been further categorized into professional services and managed services.
By organization size, the global threat intelligence platform market has been segmented into small- and medium-sized enterprises (SME) and large enterprises.
By deployment, the global threat intelligence platform market has been segmented into on-premise and cloud.
By vertical, the global threat intelligence platform market has been segmented into banking, financial services and insurance (BFSI), IT and telecommunication, government and defense, energy and utilities, healthcare, manufacturing, transportation, retail, education, and others.
The regional analysis of the global threat intelligence platform market has been studied for North America, Asia Pacific (APAC), Europe, and the rest of the world.
North America is predicted to have the highest market share in the projected period. Increased adoption of IoT and BYOD has led to a rapid rise in the number of connected devices, which raises the possibility of cyber-attacks. The platform empowers the analysts in the enterprises to carry out more in-depth investigations while disseminating intelligence more efficiently. Large enterprises, as well as small and medium-sized enterprises across vertical, have deployed advanced cybersecurity solutions, like large-scale threat intelligence platforms. Such factors help to make North America the leading region in the global threat intelligence platform market. The US is leading the market in North America due to the early adoption of cybersecurity solutions and measures by key players in the form of partnerships with different technology players for product enhancement. Prevention of cybersecurity attacks and infringements serve as a driving force for the development of the market.
The Asia Pacific is set to be the fastest-growing market for global threat intelligence platforms in the assessment period. The rise in the number of targeted attacks and ubiquitous APTs is the critical driver of the Asia Pacific industry. The platform helps organizations to identify threats rapidly and accelerates the process of detection and response. In addition, the increasing adoption of cloud-based cybersecurity solutions is another factor contributing to the growth of the Asian Pacific threat intelligence platform market.
The industry giants in the global threat intelligence platform market include IBM Corporation (US), PhishLabs (US), Symantec Corporation (US), Dell Inc. (US), FireEye, Inc. (US), McAfee, LLC (US), Check Point Software Technologies Ltd. (Israel), Optiv Security Inc. (US), Trend Micro Incorporated (Japan), Webroot Inc. (US), AT&T (US), AO Kaspersky Lab (Russia), Flashpoint (US), LogRhythm, Inc. (US), and Intel 471 (US).
The other players in the global threat intelligence platform market are Digital Shadows Ltd (US), CrowdStrike (US), LookingGlass Cyber Solutions, Inc. (US), Blueliv (Spain), ThreatConnect, Inc. (US), Farsight Security (US), Proofpoint, Inc. (US), Group-IB (Russia), DomainTools (US), SurfWatch Labs, Inc. (US) and others.
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Threat Intelligence Platform Market Research Report: by Component [Solution, Services (Professional Services, Managed Services)], Organization Size (Large Enterprise, Small and Medium-Sized Enterprise), Deployment (On Premise, Cloud), Vertical (BFSI, IT and Telecommunication, Government and Defense, Energy and Utilities, Healthcare, Manufacturing, Transportation, Retail, Education, Others), Region (North America, Europe, Asia-Pacific, Rest of the World) – Forecast till 2024
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