Threat Intelligence Market Globally Expected to Drive Growth through 2023

Threat Intelligence Market categorizes the global market by solution as threat intelligence platforms, SIEM, IAM, SVM, risk and compliance management and incident forensics, by Service as managed and professional, by deployment mode, by organization size.

(EMAILWIRE.COM, November 05, 2019 ) According to the new market research report "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", published by MarketsandMarkets, 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.

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.

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The Threat intelligence platform is expected to grow with highest CAGR during the forecast period

The threat intelligence solution is projected to grow at the highest rate, due to its enhanced capabilities to provide reliable threat intelligence and actionable insights. It collects indicators of compromise from various threat feeds, visualizes relevant threat information, and correlates it with telemetric information. The platform receives alerts in real time and normalizes feed data by removing duplicates. It can be integrated with other security solutions to generate threat reports. The ability of the threat intelligence platform to integrate with the existing SIEM solutions encourages organizations to use the platform, which help them combine a large quantity of potentially valuable threat intelligence into a single, convenient location.

The consulting service is expected to grow at a higher CAGR during the forecast period

Threat intelligence solution providers offer consulting services, wherein security experts engage with organizations to create the collection, analysis, and dissemination of threat intelligence. This intelligence is related to relevant threat actors and potential threat scenarios to organizations. They enhance organizations’ security operations and help define organization-specific cyber threat landscape tailored to unique business environment. Additionally, these services help identify and prioritize active and the emerging threats to reduce exposure and adapt to defenses.

The cloud deployment mode is expected to maintain the leading position in terms of revenue market size and growth rate during the forecast period

The cloud-based deployment mode offers scalability, speed, 24/7 services, and improved IT security. The demand for SaaS-based security solutions is rapidly increasing, as they act as central delivery models and meet IT security needs. Owing to the increasing number of applications on cloud, there is a shift from the traditional on-premises threat intelligence solutions to the cloud-based threat intelligence solutions across large enterprises and SMEs.

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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 market, along with their company profiles, recent developments, and key market strategies.

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