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Threat Intelligence Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Threat Intelligence Market
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According to The Business Research Company's, The threat intelligence market size has grown rapidly in recent years. It will grow from $10.86 billion in 2023 to $12.33 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to rising cyber threats, regulatory compliance, incident response enhancement, increasing complexity of cyber attacks, globalization of businesses.
The threat intelligence market size is expected to see rapid growth in the next few years. It will grow to $21.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to IoT security challenges, advanced persistent threats (APTs), collaborative threat intelligence sharing, zero trust security models, geopolitical tensions and cybersecurity. Major trends in the forecast period include cloud security concerns, AI and machine learning integration, automation and orchestration, open-source threat intelligence, focus on cloud security.
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Market Drivers and Trends:
The increasing demand for better solutions for the protection of network infrastructure is contributing to the growth of the threat intelligence market. The companies operating in different industries are increasingly investing in advanced threat intelligence solutions to reduce the attack surface of a network (network protection). Network protection aids in preventing employees from using applications to access harmful domains and secure the key assets or properties within the network. For instance, in 2023, as per the STAT IT 2024 report by Spiceworks, a US-based information technology company, 66% of companies are gearing up to increase their IT budgets as 73% of companies expect their revenue to rise. Therefore, the increase in demand for protection of network infrastructure is expected to boost demand for threat intelligence market during forecast period.
Technological advancement is a key trend gaining popularity in the threat intelligence market. Technical advancement and new tools being developed in threat intelligence help give information that goes beyond an attacker's resources and helps prevent cybersecurity attacks as well as be future-proof. For instance, in 2021, EclecticIQ, a leading global threat intelligence, hunting, and response technology supplier, launched the EclecticIQ Platform, which places Intelligence at the coreTM of cyber defense. The EclecticIQ Platform delivers detection and response (EDR), curated intelligence feeds, threat hunting, and collaboration capabilities, which is built on the company's comprehensive threat intelligence solution.
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Major Key Players of the Market:
Dell Technologies Inc., IBM Corporation, Cisco Systems Inc., Anomali Inc., IntSights Cyber Intelligence Ltd., Palo Alto Networks Inc., Fortinet Inc., Symantec Corporation, Check Point Software Technologies Ltd., CrowdStrike Inc., Proofpoint Inc., Kaspersky Lab, Optiv Security Inc., Rapid7 Inc., FireEye Inc., Recorded Future Inc., Webroot Inc., LogRhythm Inc., Flashpoint Inc., Lookingglass Cyber Solutions Inc., VMware Carbon Black Inc., RiskIQ Inc., ThreatConnect Inc., PhishLabs, Digital Shadows Ltd., Blueliv, AlienVault Inc., F-Secure Corporation, McAfee LLC, DomainTools LLC, Trend Micro Inc.
Threat Intelligence Market 2024 Key Insights:
• The threat intelligence market size is expected to see rapid growth in the next few years. It will grow to $21.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%.
• Surging Demand For Network Security Drives Growth In Threat Intelligence Market
• Role Of Technological Advancements In The Threat Intelligence Market
• North America was the largest region in the threat intelligence market in 2023
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