Bengaluru: According to a new market research report “Threat Intelligence Market by Solution – Global Forecast to 2022”, published by MarketsandMarkets, the Threat Intelligence Market is expected to grow from USD 3.83 Billion in 2017 to USD 8.94 Billion by 2022, at a CAGR of 18.4%.
Threat intelligence is a cyber-security discipline that seeks understanding of sophisticated cyber threats and their detection, analysis, and predictive remediation. Threat intelligence solutions provide an effective and reliable threat detection to alleviate cyber threats based on security events and security intelligence feeds, manage business risks, reduce potential damage, and improve organizations’ entire security infrastructure.
The primary purpose of threat intelligence system is to help organizations understand and provide predictive remedies for Advanced Persistent Threats (APTs) and exploits, zero-day threats, and other sophisticated attacks on enterprise network security infrastructure. The major forces driving the Threat Intelligence Market are the increasing threat of data breaches due to insider attacks, fast-paced adoption of threat intelligence solutions among SMEs, and increasing adoption of crowdsourced threat intelligence platform.
The managed services segment is expected to have the largest share in the Threat Intelligence Market in 2017. Various managed services offered by threat intelligence vendors are ATM and security intelligence feed. The managed services segment is expected to have the largest market share and dominate the Threat Intelligence Market from 2017 to 2022, as these services help the clients to gain more insights on the evolving threats in the security environment. The rise in large-scale networks and the increase in the customer base from the SME community are the driving factors of managed services.
The BFSI vertical is expected to grow at the highest CAGR in the Threat Intelligence Market
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to contribute to the largest market share in the Threat Intelligence Market. The BFSI industry frequently keeps introducing new and improved financial products and services to improve its business operations. The BFSI sector is required to prioritize threat intelligence solutions and services, as the vertical is moving ahead in terms of smart banking, internet banking, and mobile banking options to make banking transactions easier for customers. After the implementation of threat intelligence solutions, banks and other financial institutions will be able to assess the type of threat and detect their patterns in real-time, thus reducing suspicious activities. The government vertical is expected to dominate the Threat Intelligence Market with the largest market size in 2017.
North America is expected to contribute to the largest market share,whereas Asia Pacific (APAC) is projected to grow at the highest CAGR
North America is expected to have the largest market share and dominate the Threat Intelligence Market from 2017 to 2022, due to the presence of a large number of threat intelligence vendors across this region. The main reason for the high growth in the APAC region is the wide adoption of threat intelligence solutions by both SMEs and large enterprises to protect network infrastructure and web, mobile, and IoT applications from vulnerabilities and to prevent attackers from exploiting the security flaws to access critical information.