The global threat intelligence market is projected to exhibit strong growth owing to increasing cybercrimes and threat of data breaches, which can lead to financial losses in business. In addition, growing volume of data in organizations is a key driving factor in the market. Growing uniqueness of the attacking methods that makes information vulnerable is increasing the need for such solutions, which could, in turn, boost market growth in future. For instance, Intel Corporation developed 7th Generation Intel Core vPro processors to provide hardware-enhanced security. Most of the data breaches are caused due to misuse or stolen user credentials. Intel Authentication Solution is intended to limit the risk of data breaches by moving multifactor software functions into the hardware.
Rapid development of IT infrastructure and improving interconnectivity due to emergence of internet of things (IoT) and growing trend of bring your own devices (BYOD) in organizations are likely to increase demand for better security solutions. In addition, rising cases of targeted attacks and advanced persistent threats (APTs) in organizations are anticipated to boost demand for such solutions. Threat intelligence services offer threat detection capabilities to detect APTs, advanced malware, previous unidentified attacks, and other threats. APTs are targeted attacks that are a combination of malware, data exfiltration, and phishing. Majority of the threat attacks are unknown and low-targeted.
Moreover, continuous development of novel technologies, such as artificial intelligence (AI), is expected to create a positive outlook for the market in the years to come. Expansion of cloud computing platform is also expected to bode well for the market. Enterprises are extensively opting for cloud security over on-premise solutions due to cost benefits. Increasing acceptance of cloud storage systems in organizations is also expected to increase adoption of cloud-based security solutions as they prevent unwanted traffic from entering the network. Additionally, they avoid the need of equipment involved in on-premises deployment. For instance, Symantec Endpoint Protection Cloud offers threat protection along with device management for PC, mobile devices Mac, and servers. It enables protection from various attacks, such as ransomware and zero-day threats, and blocks all threats with some advanced multi-layered technologies such, as machine learning, behavior analysis, and emulation. Built-in device management offers device security, data protection on the endpoint, and network access.
Diverse nature of threats, lack of awareness regarding security threats, and high cost incurred in technological development and implementation of these solutions are expected to challenge the market. However, growing need for integration of security operations is likely to support market growth in the years to come. Due to financial constraints, complete security solutions are not implemented in small organizations. Low budget makes the enterprises more vulnerable to advanced cyber-attacks, such as APTs, zero-day attacks, and ransomware.
Small and medium enterprises (SMEs) are increasingly adopting threat intelligence solutions to prevent possible attacks on enterprise network and protect their digital accesses. Banking, financial services, and insurance (BFSI) is a leading application in the market owing to rising adoption of these solutions, which could be attributed to rising cases of ransomware, viruses, trojans, spyware/keylogger, and other malware. BFSI holds sensitive information of assets, customers, employees, offices, and operations. Additionally, factors such as rising cyber-attacks and fraud activities, and growing need for brand protection, real-time detection and protection are expected to boost segment’s growth. Presence of strict regulatory framework is also expected to stimulate the adoption of security solutions in the years to come.
North America is a leading region in the market owing to development of IoT and connected devices, increasing awareness of intelligence solutions, and presence of prominent players. Europe is also expected to witness remarkable growth in the coming years due to increasing efforts by the European government and legislation to implement new information security standards.
Asia Pacific is anticipated to emerge highly lucrative in the years to come owing to increasing implementation of these solutions in countries, such as Australia, China, Japan, Hong Kong, and India. Rising awareness and adoption of protective security systems across large enterprises are also likely to boost regional market growth in coming years. In addition, rising cases of cybercrimes are expected to encourage organizations to adopt protective solutions.
Some of the leading companies operating in the threat intelligence market are Dell Inc.; IBM Corporation, Check Point Software Technologies Ltd.; and Symantec Corporation. The market is highly competitive due to presence of a large number of regional as well as international players.
Research Support Specialist, USA