Global threat intelligence market to reach $12.6 billion by 2025
The global threat intelligence market is anticipated to reach $12.6 billion by 2025, according to a new report by Grand View Research, Inc.
The growing demand for threat intelligence is increasing owing to rise in cybercrime, and growing numbers of sophisticated attacks. Moreover, most breaches have a financial or espionage motive which results in disruption of business and this is expected to contribute to demand of threat intelligence solutions and services immensely.
Threat intelligence incident forensics is expected to gain traction. The application of incident forensics initiates actionable security during breach through predictive and reactive analysis. Further, its application investigates the root causes of the breach and contains the damage of an attack.
Organizations are preferring the use of cloud security as the cost incurred by the implementation of the on-premise solutions is high. Cloud-based security adoption is expected to increase in the near future owing to the growing adoption of cloud storage systems.
Further key findings:
- The global threat intelligence market accounted for $3,028.9 million in 2016 and is expected to grow at a CAGR of 17.4% from 2017 to 2025.
- The demand for incident forensics is estimated to reach $1,254.8 million by 2025 and is expected grow at a high rate over the forecast period.
- The cloud-based deployment in threat intelligence market is estimated to account $1,146.4 million in the year 2016.
- BFSI emerged as the largest application segment and is estimated to generate revenue over $3,282.0 million by 2025.
- Threat intelligence demand in manufacturing applications is anticipated to witness moderate growth over the forecast period.
- The Asia Pacific market is projected to witness substantial growth over the next decade owing to growing adoption of threat intelligence solutions on a large scale. The regional market is expected to grow at a CAGR of 21.1% from 2017 to 2025.
- Key players include IBM, Dell, Symantec, Check Point Software, accounting for a majority share of the overall market in 2016.