Key Drivers and Growth Forecast in the Cyber Threat Intelligence Market 2033

The Business Research Company recently released a comprehensive report on the Global Cyber Threat Intelligence Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The cyber threat intelligence market size has grown exponentially in recent years. It will grow from $9.51 billion in 2023 to $11.58 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to the rise of cyberattacks, increased malware incidents, increased cyber espionage activities, growth in connected devices, and the growth of internet users.

The cyber threat intelligence market size is expected to see exponential growth in the next few years. It will grow to $25.68 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The growth in the forecast period can be attributed to the projected increase in cyber threats, growing sophistication of cyber attacks, capabilities, expansion of digital ecosystems, rapid growth of cloud services, and increasing regulatory pressures. Major trends in the forecast period include the integration of artificial intelligence, automation, real-time threat intelligence, and cloud-based threat intelligence solutions.

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Market Drivers and Trends:

The rise in the number of sophisticated cyberattacks is expected to propel the growth of the cyber threat intelligence market going forward. Cyberattacks are hostile attempts to disable, damage, or gain unauthorized access to computer systems, networks, or digital devices. The rise in sophisticated cyberattacks can be attributed to advancing technology, increased connectivity, and the growing value of digital assets, prompting cybercriminals to develop more sophisticated methods to exploit vulnerabilities. Cyber threat intelligence (CTI) provides insights into the tactics, techniques, and procedures (TTPs) used by cyber adversaries, which is essential for defending against advanced threats. It also contributes to the increasing sophistication of cyberattacks, as threat actors leverage CTI to identify potential targets, understand their vulnerabilities, and tailor attacks for maximum impact and evasion of defenses. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, up from 13% from the previous year. Furthermore, in 2021, according to the Internet Crime Complaint Center, a US-based government organization, the United States witnessed 847,376 cybercrime complaints, marking a 7% surge from 2020, with estimated losses surpassing $6.9 billion. Therefore, the rise in the number of sophisticated cyberattacks is driving the growth of the cyber threat intelligence market.

Major companies operating in the cyber threat intelligence market are focusing their efforts on introducing advanced solutions, such as advanced cyber threat intelligence services, to gain a competitive edge in the market. Advanced cyber threat intelligence services refer to specialized offerings that provide organizations with comprehensive and sophisticated insights into cyber threats, vulnerabilities, and adversarial activities. For instance, in December 2022, BlackBerry Limited, a Canada-based software company, launched its new Cyber Threat Intelligence (CTI) offering aimed at assisting customers in preventing, identifying, and effectively responding to cyberattacks, which is crucial given the escalating frequency of attacks on critical infrastructure in today's cybersecurity environment. The service, offered by BlackBerry's Threat Research and Intelligence Team, is intended to reduce cybersecurity risks and improve detection and response. The service is expected to give enterprises contextual and actionable cyber threat intelligence, allowing them to better assess their security posture, anticipate and withstand attacks, recover quickly from cyber events, and adapt to an ever-changing threat environment.

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Major Key Players of the Market:

Dell Technologies Inc., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Honeywell International Inc., Palo Alto Networks Inc., Parsons Corporation, Optiv Security Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, CrowdStrike Holdings Inc., FireEye Inc., Kaspersky, Rapid7 Inc., F-Secure Corporation, Webroot Inc., Recorded Future Inc., Sophos Group plc, Wurldtech Security Technologies, Lookingglass Cyber Solutions Inc.

Cyber Threat Intelligence Market 2024 Key Insights:

• The cyber threat intelligence market size is expected to see exponential growth in the next few years. It will grow to $25.68 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%.
• The Rise Of Cyber Threat Intelligence In The Face Of Sophisticated Attacks
• The Role Of Advanced Cyber Threat Intelligence Services In Cybersecurity
• North America was the largest region in the cyber threat intelligence market in 2023

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