The global cyber threat intelligence market in 2020 has risen to a higher standard, and it is estimated that it will reach USD 12.8 billion in 2025. Furthermore, the cyber threat intelligence market is also expected to increase at a CAGR of over 14 percent from 2019 to 2025. The increased need for companies to improve their security infrastructure has fostered the market demand.
It is essential to know that as firms begin to embrace cloud platforms, the Internet of Things (IoT), and other network technologies, they become susceptible to security breaches. However, these breaches in security have caused lots of companies to halt their operations. With that in mind, lots of organizations now adopt cyber intelligence programs to boost their detection and response abilities against the cybercrime landscape.
The increase in the number of threats vulnerabilities has also driven the growth in the cyber threat intelligence market. Additionally, several advancements in technology also give rise to lots of cyber threats such as phishing, malware, and the likes. As a result, many organizations will be vulnerable to cyber threats; thus, raising lots of concerns to update the security framework.
Cyber Threat Intelligence Market by Component
The UTM (Unified Threat Management) component segment in 2020 has grown by more than 14 percent, and it is expected to grow to around 17 percent till 2025. Nowadays, many organizations make use of various trends, such as Choose Your Own Device (CYOS) and the likes. With the adoption of new trends like this, organizations need to prepare themselves for emerging security vulnerabilities in their networks.
Furthermore, the SIEM (Security Information and Event Management) segment also accounts for more than 30 percent from 2018 to 2020. It is essential to know that the increased need to drive the threat detection process influences the use of SIEM solutions.
Cyber Threat Intelligence Market by Region
When it comes to the cyber threat intelligence market, North America holds the largest share (more than 40 percent in 2020). The increased number of remote monitoring and tracking devices ensure that more companies adopt advanced cyber threat programs. Companies such as Symantec, Palo Alto, IBM, and more, will ensure that organizations are aware of cyber threats; these threat intelligence vendors will also help the growth of the threat intelligence market.
It is also crucial to note that the size of Europe’s cyber-threat intelligence market will increase to more than 13 percent CAGR from 2019 to 2025, and driven by the presence of stringent compliance regulations that instruct companies to adopt advance security solutions in their network infrastructure. Also, the increased adoption of different next-generation technologies such as the Internet of Things and cloud computing in different organizations adds to the market demand.
Cyber Threat Intelligence Market by Application
From 2018 to 2020, IT and telecommunication applications accounted for more than 20 percent of the global revenue in the cyber threat intelligence market. This is due to the increase in cyber-attacks on IT and telecommunication providers. However, IT and telecommunication providers are targets for cyber attackers because they store customer data and offer detailed integrated communications to different companies.
Because lots of businesses operate online today, the network infrastructure is a crucial component of the telecommunication sector; thus, it is inspiring IT and telecom players to invest in security intelligence programs.
Nevertheless, the BFSI (Banking, Financial Services, and Insurance) sector is expected to have a more than 16 percent increase till 2025. Technological advancements also impact the banking industry. Before the advent of the internet, it was difficult for banking establishment to secure customers’ information. Banking companies now look for various ways to improve customers ‘experience through technology, but it has also left them vulnerable to cyber-attacks. Right now, financial companies now invest in advanced cyber threat intelligence to strengthen their defenses against cyber threats and attacks.
Source: Markets and Markets
About CTIA Certification – Advanced Threat Intelligence Training Program
The EC-Council’s Certified Threat Intelligence Analyst (CTIA) is a specialist-level threat intelligence training program designed by cybersecurity experts to teach a structured approach on how to build an effective threat intelligence program staring from planning to creating Intelligence Reports and dissemination. The program imparts skills that help cyber intelligence analyst to understand the method and motive of attackers and create actional intelligence.
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