Threat Intelligence Platform Market : A Well-Defined Technological Growth Map With An Impact-Analysis
Demand for threat intelligence is expected to rise in the coming years with the rising number of cybercrimes and cyber-attacks of data theft across the globe
Global Threat Intelligence Platform Market – Dynamics
Increasing Rate of Data Breach and Cyber Attacks
The potential chances of cyber-attacks has increased greatly with the increasing adoption of connectivity and networked services around the globe. According to a new report from The Cybersecurity Imperative, annual losses from cyber-attacks averaged US$ 4.7 Mn in the last fiscal year - with more than one in 10 firms losing over US$ 10 Mn. Such increase in cyber-attacks is driving the demand for threat intelligence platforms.
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Lack of Awareness and Skilled Professionals
Lack of infrastructure and skilled professionals specific to cyber-security is seen in Asia Pacific, Middle East & Africa, and South America. In these regions, many countries still use the traditional system to tackle cyber threats. The huge gap between the skills of the individual specific to cyber intelligence and threat intelligence is resisting the demand for threat intelligence platform.
North America to Dominate the Global Threat Intelligence Platform Market
In terms of region, the global threat intelligence platform market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the threat intelligence platform market during the forecast period due to strong adoption of artificial intelligence and other advance technology by small & medium enterprises within the region.
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COVID-19 Impact on the Global Threat Intelligence Platform Market
The COVID-19 pandemic is expected to moderately impact the global threat intelligence platform market for a short-term period. Enterprises are not making any investment due to depression in the market; on the other hand, the number of cyber-attacks has increased exponentially within this time period. Demand is expected to increase in the first quarter of year 2021 with the rising number of cyber-attacks and data breach cases.
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Global Threat Intelligence Platform Market – Competition Landscape
In August 2019, Cyware, a provider of threat intelligence and cyber fusion solutions, and Inflow Technologies Pvt. Ltd signed a partnership to deliver Cyware's cyber fusion, threat intelligence, threat response, and security automation solutions to customers. The partnership will enhance Inflow's cybersecurity portfolio.
Incorporated in 2016, Cyware provides a full-stack of cyber solutions for strategic and tactical threat intelligence sharing, cyber fusion, and threat response. Cyware's product suite includes a situational awareness platform (CSAP), an advanced threat intelligence platform (CTIX), a cyber fusion and threat response platform (CFTR), and a security orchestration layer (CSOL).
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