Threat Intelligence Security Market to Grow by USD 17 Billion by 2027, Driven by Cyberattacks on Connected Devices and AI Advancements- Technavio Report

NEW YORK, Sept. 5, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global threat intelligence security market size is estimated to grow by USD 17.00 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of almost 23.7% during the forecast period. Rising number of cyberattacks on connected devices or systems is driving market growth, with a trend towards threat intelligence sharing. However, increasing complexity of it infrastructure poses a challenge. Key market players include Anomali Inc., BlueVoyant, Check Point Software Technologies Ltd., Cisco Systems Inc., Datto Holdings Corp., F Secure Corp., Farsight Security Inc., Fortinet Inc., Intel 471 Inc., International Business Machines Corp., Juniper Networks Inc., KKR and Co. Inc., LogRhythm Inc., Musarubra US LLC, NortonLifeLock Inc., Open Text Corp., Splunk Inc., Trend Micro Inc., ZeroFox Inc., and Palo Alto Networks Inc.

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Market Driver

Threat intelligence, gathered from various sources, is essential for enterprises to protect their networks from cyber attacks. However, accessing a vast amount of threat information can be costly, making it a challenge for smaller organizations. The Cyber Threat Alliance, comprised of leading security companies like Symantec, McAfee, Palo Alto Networks, and Fortinet, aims to address this issue by sharing and validating real-time threat data. This collaboration reduces detection and remediation time for members, enabling them to understand their network's threat status in comparison to their peer group companies. Crowdsourcing platforms for threat intelligence further enhance this effort by involving a large group of skilled individuals and organizations to combat newly emerging threats, such as ransomware, increasing overall efficiency in the fight against cyber attacks. 

The cybersecurity threat intelligence market is experiencing significant growth due to the increasing volumes of new threats and cyberattacks. Adversaries are using innovative tactics, such as deepfake technology and distorted multimedia material, to bypass detection procedures. Threat analysis and detection are crucial for cybersecurity operations, as data breaches can lead to customer trust issues and damage to brand reputation. Silobreaker and enterprise geopolitical intelligence are key players in this market, providing valuable insights into adversarial behavior and potential geopolitical hazards. Advanced algorithms and quantum computing are being used to enhance threat intelligence systems and improve threat hunting skills. Specific industries, such as healthcare, finance, energy, and IoT security, are particularly vulnerable to cyber threats. Ransomware and advanced persistent threats are common attacks, and mobile security is becoming increasingly important with the continuous digitization process and the widespread use of cloud computing and mobile technologies. Strict regulations, such as those in the BFSI industry regarding sensitive financial data, require organizations to invest in cutting-edge cybersecurity measures, including Zero Trust Architecture, behavioral biometrics, and insider threat detection. Mobile threat management and instructional materials are also essential for staying ahead of the curve in this ever-evolving threat landscape. 

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Market Challenges

• The Threat Intelligence Security Market faces a significant challenge due to the increasing complexity of IT network infrastructure. With the introduction of new security solutions from vendors, integration issues and system slowdowns can occur. These problems may lead to customer dissatisfaction and potential loss of business. To address this, vendors must ensure their threat intelligence security products seamlessly integrate with both third-party solutions and previous information systems. However, this increased complexity could potentially introduce operational or interface issues for end-users. Thus, managing the intricacy of network infrastructure remains a critical concern for vendors in the Threat Intelligence Security Market.
• In today's digital world, businesses face increasing threats to their IT assets from various sources. Digital transformation, connected devices, and industrial systems bring new risks, such as Point-of-Sale (POS) systems, handheld devices, and M2M communication vulnerabilities. Threat intelligence is crucial to stay ahead of these risks, including deceptions from hackers using phishing, zero-day attacks, and insider assaults. Industries like banking and finance, energy, and mining face significant financial losses from cybersecurity vulnerabilities. Next-generation security services are essential to combat these risks, especially in the cloud segment where the attack surface is vast and unknown threats abound. SMEs and large enterprises alike require risk intelligence products to manage their security architecture and comply with mandates and regulatory pressure. Cyber risks come from various sources, including cybercriminals, nation-states, and insiders. Security operations need to be intelligence-driven to make informed decisions and prevent delivery, exploitation, command-and-control, and control ability threats. Risk analytics provide supporting data for effective risk management and compliance. The global community must work together to mitigate cyber risks and protect critical accesses from cyberattacks.

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Segment Overview

This threat intelligence security market report extensively covers market segmentation by

1. Deployment
• 1.1 Cloud
• 1.2 On-premises
2. End-user
• 2.1 BFSI
• 2.2 IT and telecom
• 2.3 Healthcare
• 2.4 Transportation and logistics
• 2.5 Others
3. Geography
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Cloud- The cloud-based threat intelligence security segment is currently leading the global threat intelligence security market. Small and medium-sized enterprises (SMEs) are increasingly adopting cloud-based solutions due to their cost-effectiveness and ease of use. These services do not require any software installation and can be accessed on a subscription basis, with monthly fees covering maintenance and system upgrades. During the forecast period, cloud-based threat intelligence security is expected to experience significant revenue growth compared to on-premises solutions. This trend is driven by the increasing shift of enterprises towards cloud-based security, which requires threat intelligence products and services to offer comprehensive security solutions such as email and web security, hosted DDoS mitigation, and advanced persistent threat (APT) protection. Threat intelligence products and services provide 24/7 monitoring capabilities to prevent advanced malware activities and a scalable, secure cloud environment to protect against distributed denial-of-service (DDoS) attacks. However, concerns around data confidentiality and lack of control over security may hinder the adoption of cloud-based threat intelligence security among large enterprises, resulting in a moderate decline in the market growth rate during the forecast period.

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Research Analysis

The Threat Intelligence Security market is experiencing significant growth due to the increasing volumes of cybersecurity threats and the emergence of new threats that require constant analysis and detection. With cybercriminals employing innovative adversarial behavior and cutting-edge cyber tactics, organizations are turning to threat intelligence systems to stay ahead of potential hazards. Data breaches, cyber attacks on sensitive data, and deceptions such as zero-day attacks pose a significant risk to businesses in various sectors, including defense contractors, retailers, e-commerce, and international trade unions. The digital transformation and the proliferation of connected devices, from handheld devices to Point-of-Sale (POS) systems, have expanded the attack surface and heightened the need for robust threat intelligence. Silobreaker and other threat intelligence providers offer valuable insights into adversarial behavior and potential geopolitical hazards, helping organizations to fortify their cybersecurity operations and protect their assets.

Market Research Overview

The Threat Intelligence Security market is experiencing exponential growth due to the increasing volumes of new threats in the cybersecurity landscape. With innovative adversaries employing cutting-edge cyber tactics, threat analysis and detection procedures are becoming essential for businesses to protect against data breaches and potential geopolitical hazards. Threat intelligence systems are being utilized to identify and respond to adversarial behavior, including deepfake technology and distorted multimedia material. As the digital revolution continues, industries such as healthcare, finance, energy, and IoT security face unique challenges. Advanced algorithms and quantum computing are being used to enhance encryption techniques and Zero Trust Architecture, while behavioral biometrics and mobile threat management help mitigate insider threats. Sensitive data in specific industries, such as BFSI, is under constant threat from cyberattacks, ransomware, advanced persistent threats, and insider assaults. Strict regulations and the continuous digitization process require holistic cybersecurity partners to provide advanced threat identification, incident handling, and vulnerability management. Cybersecurity architecture must adapt to provide flawless customer experiences while maintaining a high level of security. Next-generation security services, including threat hunting skills and mobile threat management, are crucial in this ever-evolving landscape. The digital transformation has led to an increase in connected devices, point-of-sale systems, handheld devices, and M2M communication. Secure control systems for industrial systems, subsea oil wells, and mines are vital to prevent financial losses and protect against cyber-attacks, phishing, and zero-day attacks. Threat intelligence plays a critical role in staying ahead of the curve and ensuring customer trust and brand reputation. Deceptions, such as Silobreaker and enterprise geopolitical intelligence, provide valuable insights into potential threats and help businesses make informed decisions. Overall, the Threat Intelligence Security market is a crucial component of any organization's cybersecurity strategy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Deployment
• Cloud
• On-premises
• End-user
• BFSI
• IT And Telecom
• Healthcare
• Transportation And Logistics
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio