Threat Intelligence Security Market Size to grow by USD 17000.22 million between 2023-2027
According to a research report “ Threat Intelligence Security Market” by 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)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 17000.22 million, at a CAGR of 23.7% during the forecast period. In the global business landscape, the number of records breached per incident is escalating at an alarming rate, signifying that cyber attackers are becoming more meticulous and effective in their strategies. This trend is resulting in substantial data loss during fewer incidents, leading to a significant increase in the average cost of a data breach, which can reach into the millions. Malicious attacks predominantly originate from external sources, such as professional hackers, with the primary intent of generating financial gains from stolen data. The repercussions of a data breach extend beyond financial implications, as the misappropriated information can be exploited for unethical practices, negatively impacting a company's reputation and relationships with its customers..
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By Deployment, the Cloud segment is projected to dominate the market size in 2024
In the global threat intelligence security market, cloud-based solutions have emerged as the leading segment, driving significant growth. Small and medium-sized enterprises (SMEs) are increasingly adopting cloud-based threat intelligence security services due to their cost-effectiveness and swift implementation. These services do not necessitate software installation, as vendors manage and maintain the solutions. Subscription-based access allows end-users to pay a monthly fee per managed device, which covers maintenance and system upgrades. Over the forecast period, cloud-based threat intelligence security is projected to generate substantial revenue growth compared to on-premises solutions, as an increasing number of enterprises transition their security infrastructure to the cloud.
By End-user, BFSI segment is expected to hold the largest market size for the year 2024
In the realm of threat intelligence security, the banking and financial services industry holds the largest end-user share due to its significant vulnerability to cyberattacks. The sector's substantial investment in threat intelligence solutions is a direct response to the substantial financial losses incurred from cybercrime. Cybercriminals employ tactics such as phishing emails, credential-stealing malware, and malicious codes to infiltrate banking systems and obtain sensitive customer information. These attacks not only target individual accounts but also aim to penetrate enterprise networks for more extensive financial gains. The stakes are high for BFSI institutions, making robust threat intelligence an indispensable component of their cybersecurity strategy.
North America is forecasted to hold the largest market size by region in 2024
The Threat Intelligence Security Market is experiencing significant growth due to the increasing number of cyber threats and the need for organizations to stay informed and protected. Providers of Threat Intelligence offer actionable insights to help businesses mitigate risks, enhance their security posture, and respond effectively to emerging threats. This intelligence is essential for businesses to make informed decisions, safeguard their digital assets, and maintain regulatory compliance. The market is expected to continue expanding as the importance of proactive threat intelligence becomes increasingly recognized.
The Threat Intelligence Security Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Threat Intelligence Security Market is experiencing significant growth due to the increasing number of cyber threats, including Zero-day attacks, deceptions, and adversarial behavior against various sectors. With the digital transformation, handheld devices, Point-of-Sale (POS) systems, and connected devices have become vulnerable targets for cybercriminals. Threat intelligence plays a crucial role in mitigating these risks by providing real-time information on potential cyber threats. The International Trade Union and Internet users are also at risk, with e-commerce and retailers being prime targets for data breaches. Sensitive data, such as financial information and intellectual property, are valuable assets for cybercriminals. Defense contractors are also under constant threat from potential geopolitical hazards. Threat intelligence systems are essential for detecting and analyzing new threats, implementing cutting-edge cyber tactics, and enhancing cybersecurity operations. Innovative adversaries continue to develop new threats, making it necessary for threat intelligence to keep up with the latest trends and data volumes. Silobreaker, a leading threat intelligence platform, provides comprehensive threat analysis and detection procedures to help organizations stay ahead of cyber threats. In conclusion, threat intelligence is a critical component of cybersecurity, enabling organizations to protect against an ever-evolving threat landscape.
Market Research Overview
The Threat Intelligence Security Market is experiencing significant growth due to regulatory pressure and mandates that require organizations to make intelligence-driven decisions to mitigate cyber risks. Security operations rely on supporting data and risk analytics to protect critical accesses and IT assets from known and unknown threats. SMEs, banking institutions, defense contractors, and specific industries like energy, finance, healthcare, and retail are particularly vulnerable to cyberattacks. The cloud deployment model, including cloud service providers and the cloud-based segment, presents new challenges as attack surfaces expand. Control ability threats, exploitation, delivery, and command-and-control tactics pose significant risks. Risk intelligence products and next-generation security services help organizations build robust cybersecurity architectures to address cybersecurity vulnerabilities, insider assaults, zero-day attacks, phishing, and ransomware. The digital transformation and continuous digitization process bring new threats, such as mobile threats, IoT security, and advanced persistent threats. Threat intelligence, behavioral biometrics, Zero Trust Architecture, encryption techniques, and advanced algorithms are essential tools to combat these threats. Additionally, geopolitical hazards and adversarial behavior require enterprise geopolitical intelligence and cutting-edge cyber tactics. The global community of cybersecurity professionals must stay informed and collaborate to address the ever-evolving threat landscape.
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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
