Threat Intelligence Market to Reach $30.51 Billion Globally by 2032 at 9.9%% CAGR: Allied Market Research

Growing need to secure critical infrastructure, and rise in number of sophisticated cyberattacks are driving the growth of the global threat intelligence market.  

PORTLAND, Ore., Nov. 16, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Threat Intelligence Market by Component (Solutions and Services), Applications (Security Information and Event Management and Virtual Reality, Government, Risk and Compliance, and Business Continuity Planning and Management), Deployment (Cloud and On-Premise), Organization Size (Large Enterprise and SMEs), and Vertical (IT and Telecom, BFSI, Healthcare and Life Sciences, Retail and E-Commerce, Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global threat intelligence industry generated $11.89 billion in 2022, and is anticipated to generate $30.51 billion by 2032, witnessing a CAGR of 9.9% from 2023 to 2032.  

Prime determinants of growth  

The notable factors positively affecting the threat intelligence market include rise in the number of sophisticated cyberattacks, growing need to secure critical infrastructure, and extensive adoption of digital technologies. However, high cost associated with the threat intelligence solutions and lack of skilled professionals to operate threat intelligence platforms can hinder the market growth. However, favorable government initiatives and investments to enhance cybersecurity infrastructure along with the growing popularity of threat intelligence services offer lucrative market opportunities for the market players. 

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The security information and event management segment to maintain its leadership status during the forecast period 

By application, the security information and event management segment held the highest market share in 2022, accounting for more than two-fifth of the global threat intelligence market revenue, owing to the escalating volume and intricacy of cyber threats, which have rendered it imperative for organizations to harness threat intelligence data to proactively anticipate and counteract potential attacks. However, the same segment is projected to attain the highest CAGR of 11.7% from 2023 to 2032.  

The IT and telecom segment to maintain its dominance during the forecast period

By vertical, the IT and telecom segment held the highest market share in 2022, accounting for nearly two-fifth of the global threat intelligence market revenue, and is estimated to maintain its leadership status during the forecast period. This is because they offer prompt and actionable insights into the ever-changing landscape of cybersecurity threats, empowering IT professionals to proactively safeguard networks, systems, and data. However, the BFSI segment is projected to attain the highest CAGR of 12.8% from 2023 to 2032, owing to the existence of regulatory requisites, such as GDPR, and stringent industry compliance standards necessitate the implementation of robust cybersecurity measures; thereby stimulating the adoption of threat intelligence.  

North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global threat intelligence revenue. This is due to the increased adoption of IoT devices by a large number of financial institutions and internet users due to high availability of suitable infrastructure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.1% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the diverse range of threats in the Asia-Pacific region which contributes to the requirement for real-time threat insights, risk reduction, and incident response. This growing demand for advanced security solutions is anticipated to contribute to the growth of threat intelligence market across the Asia-Pacific region.  

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Leading Market Players: -

• Anomali, Inc 
• Broadcom, Inc. 
• Cisco Systems Inc. 
• Check Point Software Technologies Ltd. 
• CrowdStrike, Inc.
• IBM Corporation
• Juniper Networks, Inc.
• McAfee, LLC 
• Microsoft Corporation
• Palo Alto Networks, Inc.
• Trend Micro Incorporated

The report provides a detailed analysis of these key players of the global threat intelligence market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Industry Development - 

October 2023 - ThreatQuotient, a security operation platform provider announced updates in ThreatQ and ThreatQ TDR Orchestrator platforms. It announced the integration of generative AI, ACE workflows, and marketplace to enhance their operations. This helped ThreatQuotient in addressing the demand from enterprises for data-driven threat intelligence solutions

Septmeber 2023 - Broadcom, Inc. partnered with Google cloud to strengthen gen AI-powered cybersecurity and threat intelligence to embed generative AI (gen AI) into the Symantec security platform in a phased rollout that will give customers a significant technical edge for detecting, understanding, and remediating sophisticated cyber-attacks.

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