Threat intelligence market is estimated growth of 16.9% CAGR
The threat intelligence market is predicted to grow at a CAGR of 16.9% over the forecast period, according to FMI's analysis.
The industry's value is anticipated to increase from US$ 11.6 Bn in 2023 to US$ 55 Bn by 2033 end.
The expansively and robustly growing cyber-attacks and crimes are anticipated to boost the demand for threat intelligence over the forthcoming years. The accelerating demand from the BFSI sector, which has a large customer base and stores critical financial information, is predicted to propel market expansion. Various kinds of cyber threats to this sector include ATM malware, mobile banking malware, organisational intrusions, tax breaches, data thefts.
The market is further positively influenced by favourable government policies to protect the IT systems and processes in order to protect critical customer data. Several private and public banking institutions across the globe are emphasising the implementation of the latest technologies to safeguard against cyber-attacks. Moreover, technological advances heightened customer expectations, and regulatory requirements are inducing baking institutions to proactively approach security and adopt threat intelligence solutions.
- The United States threat intelligence market is predicted to maintain its dominant position over the forecast period by holding the majority of the market share. By 2033, the market is predicted to gain $ 9.9 billion, exhibiting a CAGR of 10.6%.
- Japan is expected to emerge as the fastest-growing country, growing at an impressive CAGR of 23.6% in the coming years. Significant adoption of Japanese companies’ threat intelligence solutions by Fortune 500 clients in segments like financial services, retail, and high-tech manufacturing.
- Under the component category, the solution segment is projected to be the highly-preferred option for adoption by end users. Between 2023-2033, the market is forecast to grow at a CAGR of 13.4%.
- The cloud-based threat intelligence is gaining prominence in the market. The integration of threat intelligence with the cloud empowers businesses to identify and stop the attack in advance. This segment is forecast to exhibit a CAGR of 16.1% over the forecast period.
- The U.S. threat intelligence market is predicted to remain one of the most lucrative markets during the forecast period. The overall threat intelligence spending in the U.S. alone is likely to increase by 10.6% between 2023 and 2033, with a market value of $9.9 billion in 2033.
- Demand in the United Kingdom is expected to rise at nearly 15.8% CAGR over the forecast period. The threat intelligence market is witnessing high growth rates due to the increasing adoption of threat intelligence security solutions, threat breaches, and several numbers of sophisticated attacks.
- The market in India is anticipated to be valued at more than $2.9 billion by 2033. With the rising cyber-attacks, there has been a rise in research and development investments by governments from different countries across South Asia & Pacific.
Recent news pertaining to the performance and developments of threat intelligence key players
- In February 2022, IBM unveiled the acquisition of Neudesic, which is a US-based cloud services consulting agency. With this acquisition, the company intends to expand its portfolio of multi-cloud services, along with refining its AI and hybrid cloud strategy solutions.
- In March 2022, Fortinet declared a partnership with five other new service providers. These service providers include Microland, Etihad Atheeb Telecom Company “GO,” Spectrotel, Radius Telecoms Inc., and TIME dotcom. The motive of this partnership is to deliver a simpler network architecture having advanced security, to achieve operational efficiency anywhere.
- In March 2021, RBN Insurance Services, a Chicago-based insurance brokerage, announced that it is collaborating with RealCISO, which is a security services marketplace. With this partnership, RBN clients will get the chance to conduct risk assessments, and find products and services that meet their requirements.
These insights are based on a report on Threat Intelligence Market by Future Market Insights