Open-Source Intelligence Market Reach USD 29.19 Billion by 2026, Key Factors behind Market's Exponential Growth

Allied Market Research published a new report, titled, " The Open-Source Intelligence Market Reach USD 29.19 Billion by 2026, Key Factors behind Market's Exponential Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Rise in adoption of open source intelligence among multiple organizations, increase in demand for cloud-based open source intelligence among SMEs, and surge in need to gain insights for business planning have boosted the growth of the global open source intelligence market. Developing trends such as social media analytics would open new opportunities for the market players in the coming years.

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The global open source intelligence market size was valued at USD 5.02 billion in 2018 and is projected to reach USD 29.19 billion by 2026, growing at a CAGR of 24.7% from 2020 to 2027.

The open source intelligence market is segmented on the basis of source, technique, end user, and region. As per source, the market is segmented into media, internet, public government data, professional & academic publications, commercial, and others. By technique, it is divided into text analytics, video analytics, social media analytics, geospatial analytics, security analytics, and others. As per end user, it is classified into government intelligence agencies, military & defense intelligence agencies, cybersecurity organizations, law enforcement agencies, financial services, private specialized business, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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COVID-19 Scenario:

➢ During pandemic, the consumption and growth of data has accelerated as millions use the internet to keep in touch with their loved ones and use online services and entertainment.

➢ The governments in several countries have been utilizing mobile phone usage and location data to determine population movement patterns and track the spread of COVID-19.

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By end user, the law enforcement agencies segment is anticipated to register the fastest CAGR of 28.1% during the forecast period, owing to improve their operational efficiency, to enhance the safety of the data, and to get more reliable information from the raw data. However, the cybersecurity organizations segment held the largest share in 2019, contributing to nearly one-third of the global open source intelligence market, due to increase in demand for high-level security solutions to secure top-secret data of the organizations.

By technique, the security analytics segment accounted for the largest share in 2019, holding more than one-third of the global open source intelligence market. This is due to its numerous benefits provided by security analytics such as reducing network traffic, providing real-time indication of external threats, detection & prevention of inside threats and monitoring of suspicious activity in the organization. However, the video analytics segment is estimated to portray the highest CAGR of 26.0% during the forecast period, owing to surge in demand for enhanced video surveillance in the automotive industry and rise in investment by SMEs nation in video analytics.

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The market across North America held the largest share in 2019, accounting for more than one-third of the market, owing to rise in adoption of open source intelligence tools by various government and non-government organizations to gain business insights. However, the global open source intelligence market across Asia-Pacific is expected to manifest the highest CAGR of 26.2% during the forecast period, due to surge in adoption in the banking & insurance industry in developing nation of Asia-Pacific such as India, China, and Japan.

Key players profiled in industry 4.0 industry include Cognex Corporation, Schneider Electric SE, Emerson Electric Co., Rockwell Automation Inc., Cisco Systems Inc., ABB Ltd., Siemens AG, Honeywell International Inc., General Electric Company, and International Business Machines Corporation. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the industry 4.0 industry.

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