Threat Intelligence Market Size, Share & Trends Analysis Report By Component, By Deployment Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

Threat Intelligence Market Size & Trends

The global threat intelligence market size was valued at USD 12,578.5 million in 2022 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.5% from 2023 to 2030. There is an emerging threat landscape across both developed and emerging economies. Governments, as well as many large organizations, are working towards bridging the gap between the spending in cyber security systems and seeking out an optimum result with the gathered threat artifacts to mitigate or reduce arising threats. The applicability and usefulness of threat intelligence have led organizations to integrate contextual information and data points to determine relevant threats to the business and thus provide actionable strategy towards the same, thereby driving market growth.

Cloud computing has emerged as an ally for businesses with the advent of remote work and collaboration. The COVID-19 pandemic fueled a surge in demand for threat intelligence solutions. The pandemic resulted in an increase in email phishing crimes. The increase in distant activities, such as teleworking, increased reliance on email for communication, creating an ideal environment for email fraud schemes.

As more and more nations are moving towards the digitalization process, data and security breaches have grown in higher numbers, resulting in cyber-crime activities. The evidence of advanced technologies in the digital era has increased vulnerability in an organization’s network. The data breaches in the majority of enterprises have a financial, data theft, and espionage motive, which results in disruption of business, downtime in sites, and loss of revenue. The significance of security breaches in an organization has shifted from an external source to insider threat, which has raised concern amongst IT professionals. Privacy threats are increasing thereby compromising on personal information of an individual in the organization. Data breaches across education, government, and industry sectors have made headlines repeatedly – over the past years, with no signs of slowing down.

Offering Insights

Based on the offering type, the threat intelligence market is segmented into solutions and services. The solution segment held the largest market share in 2022 owing to the effective security standards for authentication and authorization of users based on access levels. Moreover, as organizations shift their business to cloud services, IAM forms a vital part of managing and accessing applications and data by employees without compromising on security protocols. IAM improves security and reduces the IT cost of an organization through increased productivity of the security systems and eliminating the cost of an internal help desk. It allows the user to authenticate from anywhere on a real-time basis, which is one of the key factors for businesses working on a global platform, proving ease of scale operation.

Deployment Type Insights

Based on the deployment type, the threat intelligence market is segmented into cloud-based and on-premises. The on-premises segment held the largest market share in 2022. With the adoption of on-premise threat intelligence solutions, organizations can maintain complete control over their data while adhering to industry rules. Organizations with legacy systems prefer on-premise threat intelligence solutions to enable integration. This is critical for ensuring companies’ continuity and minimizing interruption during the transition. On-premise systems provide enhanced customization and control over the software environment. Companies can customize threat intelligence solutions to their business processes and combine them with other on-premise applications.

Application Insights

Based on the application type, the threat intelligence market is segmented into IT & telecom, healthcare, manufacturing, others, retail, government & defense, and BFSI. The government & defense segment held the largest market share in 2022. The government sector is expected to witness strong growth in the threat intelligence market. The sector is increasing its threat intelligence spending in response to the growing cyber-crime and threats. Moreover, the frequency of attacks in the banking sector is increasing, with a need to develop a strong security posture. The uptake of technology in government offices to automate data entries and store public records and other official documents is expected to increase security vulnerabilities. Moreover, with growing surveillance, the development of smart traffic systems that generate large amounts of data is further prompting governments to install threat intelligence systems. For any country, its defense arm is one of the most important aspects; with growing terrorism and insurgency activities worldwide, data points from the military can help mitigate imminent threats.

Regional Insights

North America dominated the market in 2022 owing to the maximum presence of vendors of threat intelligence and service providers focused on innovation. The region's strong financial situation provides chances to spend extensively on the implementation of innovative technologies and tools to ensure efficient corporate operations.

Asia Pacific is expected to witness the fastest CAGR over the forecast period. Large enterprises and several SMEs in China, Japan, and India have been investing in security systems due to growing major issues of data theft and increased cyber-attacks. The increasing number of threat and cyber-crime activities in software applications, growing demand for mobile & web applications, and rising government & legislation by-laws are anticipated to further drive the growth of the threat intelligence market in the Asia-Pacific.

Competitive Insights

Key players operating in the market are IBM Technology Corporation, Cisco Systems, Inc., Trend Micro Inc., Mimecast Limited, VMware, Inc., AT&T Inc., Check Point, DXC Technology Company, NSFOCUS Technologies Group Co Ltd, and Broadcom Inc. The market players typically resort to strategic initiatives such as product and service launches, mergers and acquisitions, partnerships, and research and development. The following are some instances of such initiatives.

• In April 2023, IBM Technology Corporation announced the launch of a Q radar security suite with enhanced threat detection capabilities. The suite is built on an open basis and tailored expressly for hybrid cloud workloads. It has a unified, modernized user interface that is infused with powerful AI and automation to enable analysts to operate with increased speed, efficiency, and precision across their core toolsets.

• In March 2022, Fortinet announced a partnership with Spectrotel, Etihad Atheeb Telecom Company, TIME dotcom, Radius Telecoms Inc., and Microland. This collaboration aims to deliver streamlined network architecture with increased security, powered by only one operating system to achieve operational effectiveness across the board, ranging from the data center to SaaS sites.