Threat Intelligence Software Market expected to reach US$ 42.7 Bn by 2032, Biggest Innovation with Top Key Players -Lookout, McAfee, CylancePROTECT, Symantec, Cisco Talos, Sophos UTM, Alert Logic, Distil Networks, FortiGate, SolarWinds

As per latest threat intelligence industry analysis by MR Accuracy Reports, overall demand will total US$ 9.1 Bn in 2021. Registering impressive growth at 17.3% CAGR from 2021 to 2032, market valuation is expected to surpass US$ 42.7 Bn by 2032.

Global threat intelligence solutions generated revenue of US$ 4.2 Bn in 2020. In terms of value, the services are identified as fastest-growing components' segment, estimated to register the highest CAGR of 18.6% over the next ten years.New Jersey, United States,- Mr Accuracy Reports , Threat Intelligence Software market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints.

Some of the Major Key players profiled in the study are Lookout, McAfee, CylancePROTECT, Symantec, Cisco Talos, Sophos UTM, Alert Logic, Distil Networks, FortiGate, SolarWinds

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2016-2020 Threat Intelligence Demand Analysis Compared to 2021-2031 Market Outlook
Threat intelligence will continue exhibiting soaring growth through 2021 with worldwide revenue up by 14.3% year-over-year. A revised report by Future Market Insights (FMI) estimates that threat intelligence revenue will increase at a significant rate, reaching nearly US$ 39.7 Bn by 2031, at a CAGR of 16.3%.
How are Exponential Rise and Sophistication of Cyber Attacks Accelerating Growth?
Cybercrimes have been on the rise for years now and they are not showing any signs of slowing down. With the ongoing pandemic, there has been a rise in remote working conditions and a consequent increase in the rate of cyber-attacks. Enterprises are adopting work from home models, which happens to be a growing concern for organizational security.

A few of the companies that have been victims of the huge cyber-attacks in 2021 include Channel Nine, Harris Federation, CAN Financial, Florida Water System, Microsoft Exchange, Bombardier, Acer, and Sierra Wireless among others. On average, a new organization becomes a victim of ransomware every 10 seconds across the globe.

With the advent of cloud computing, the space of cybersecurity and threat intelligence have extended the limits from single network to distributed network, in order to run businesses more efficiently. As threat intelligence help organizations by analyzing global cyber-attack and threat data by offering insights on attacks as and when they happen.

How Big is the Opportunity for Threat Intelligence Adoption in the U.S.?
The U.S. is predicted to remain one of the most lucrative markets during the forecast period. According to the report, the overall threat intelligence spending in the U.S. alone is likely to increase by 10.4% between 2021 and 2031, with a market value of US$ 2.7 Bn in 2021.

Due to the presence of a large number of U.S.-based users and significant players in the threat intelligence landscape, there is high adoption of threat intelligence solution in the country. U.S. based large enterprises have a different set of cybersecurity issues as compared to small and medium enterprises. SMEs lack numerous basic cyber infrastructures which are necessary for safe operations, whereas, large enterprise are equipped with critical infrastructures and require professional and managed security services. Such factors are responsible for witness significant growth over the coming years.

Why is Demand for Threat Intelligence increasing in Germany?
Demand in Germany is expected to rise at nearly 11.1% CAGR over the forecast period (2021-2031). The threat intelligence market is witnessing high growth rates due to increasing adoption of threat intelligence security solutions, threat breaches and several numbers of sophisticated attacks. Governments in Europe are focused on building stronger defense systems to potential cyber-attacks to their critical infrastructure.

As per the report, Germany is recognized as a primary market, and is anticipated to continue exhibiting high demand for threat intelligence over the coming years.

How is India Contributing towards Sales of Threat Intelligence?
The market in India is anticipated to be valued around US$ 2.9 Bn by 2031. By 2031, India will account for over 31.2% of share in South Asia and Pacific. With the rising cyber-attacks, there has been a rise in research and development investments by governments from different countries across the South Asia & Pacific.

Furthermore, Indian government is focused on creating a stringent framework in order to cope with the potential cyber- threats. With the growing amount of breaches evolving across the country, the necessity of creating a secure framework for all government organizations has never been more crucial. Along with investments in research and development, the governments are appointing chief information security officers in order to identify and document the security requirements that arise with each technical innovations.

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Competitive Landscape
According to the Future Market Insights (FMI)'s industry analysis, IBM Corporation, FireEye, Check Point Software Technologies, Huawei Technologies, Trend Micro, Dell Technologies, and AT&T Cybersecurity are identified as key providers of threat intelligence.

key providers of threat intelligence focuses on adding new innovative capabilities into their current cyber security solutions which helps them to enhance upgrade their threat intelligence portfolio.

In October 2020, IBM announced expansion of Cloud Pak for Security to include new data sources, integrations, and services that enables security operations teams to manage the full threat lifecycle from a single console. This provides access to six threat intelligence feeds, 25 pre-built connections to IBM and third-party data sources.
The key providers of threat intelligence also focuses on entering into partnerships with other tech players in the market to enhance and upgrade their cyber security solutions portfolio. This strategy not only helps company to enhance their current services but also enable them to expand their business at global level.

In January 2020, Check Point Software Technologies announced their strategic partnership with Stellar Cyber. This partnership helps company to deliver additional value to Check Point customers by adding XDR thinking and advanced detection capabilities.

Threat Intelligence Industry Survey by Category
By Component:

Solution
Threat Intelligence Platforms
Security Information and Event Management
Log Management
Security and Vulnerability Management
Identity and Access Management
Risk and Compliance Management
Incident Forensics
User and Entity Behavior Analytics

Services
Professional Service
Consulting Services
Training and Support
Managed Service
Security Intelligence Feeds
Advanced Threat Management
By Deployment Mode:

Cloud-Based
On-Premises
By Industry:

BFSI
Government and Defense
IT and Telecom
Healthcare
Retail
Manufacturing
Education
Others

Challenge: Lack of trained security analysts to analyze threat intelligence systems
The biggest obstacle in protecting the infrastructure of industries is the lack of security professionals. Jeanette Manfra, the assistant director of CISA, stated that the shortage of talent in public and private sectors could lead to national security risks. Industrial infrastructures are powered by computer systems known as threat intelligence that requires trained cybersecurity professionals to protect large networks. According to Cybersecurity Ventures, by 2021, the number of unfilled jobs is expected to reach 3.5 million. The interconnectivity of threat intelligence has also enlarged the shortage of workforce. Countries such as the UK and Japan are struggling to find competent cybersecurity experts. A research paper from the Australian Strategic Policy Institute (ASPI) published in 2019, stated that Australian critical infrastructure providers lack OT security skills and are underprepared to respond to critical infrastructure incidents. The shortage of security professionals to manage critical infrastructures is increasing, despite the growing digital marketplace expansion. This leads to the need for trained and skilled security professionals to effectively operate threat intelligence solutions.

IT and ITeS vertical to hold the largest market size during the forecast period
The IT and ITeS vertical includes IT solution and service providers, consulting companies, internet service providers, and communication companies. This vertical is constantly evolving in terms of the use of technologies, and is an early adopter of innovative technology solutions. It requires threat intelligence solutions at a large scale due to voluminous information produced daily. The increasing integration of Information and Communications Technology (ICT) with the daily activities of industries, families, governments, and consumers, along with the rising growth of cybersecurity, has led the information vertical to focus more on IT activities. Therefore, IT and ITeS holds the largest market size during the forecast period.

Recent Developments:
In February 2022, IBM acquired Sentaca (US), a leading telco consulting services and solutions provider. This acquisition will accelerate IBM's hybrid cloud consulting business, adding critical skills to help communications service providers (CSPs) and media giants modernize on multiple cloud platforms, innovate, and transform their businesses.
In February 2022, SentinelOne, an autonomous cybersecurity platform company, announced a new integrated solution with Mimecast designed to improve end-to-end threat protection, accelerate incident response, and minimize delays for security teams. With SentinelOne and Mimecast solutions, security teams can leverage cooperative defenses and rapidly respond to threats across email and endpoints for a holistic approach to incident response powered by XDR automation.
In November 2021, IBM acquired ReaQta (Netherlands) to utilize ReaQta's endpoint security solutions that are designed to leverage AI to automatically identify and manage threats, while remaining undetectable to adversaries.

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