Threat Intelligence Market to Grow $16,820.4 Million by 2027: at 16.8% CAGR

ReportCrux Market Research has published a new report titled “Threat Intelligence Market by Component (Solution [Unified Threat Management, Incident Forensics , SIEM, IAM, and Log Management], and Services [Managed Service, Professional Services, Subscription Services, and Training & Support]); by Deployment (Cloud-Based and On-Premise); by Organization Size (Small Size Organization, Medium Size Organization and Large Size Organization); by Application (BFSI, Healthcare, Retail, IT & Telecom, Government & Defense, Manufacturing, and Others), and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.

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Market Size 2019-2027:

Global demand for threat intelligence market was valued at approximately USD 4,845.1 Million in 2019 and is expected to generate revenue of around USD 16,820.4 Million by end of 2027, growing at a CAGR of around 16.8% between 2020 and 2027.

Market Analysis and Overview: Global Threat Intelligence Market

The adoption of BYOD (Bring Your Own Device) trend has become very common among employees. Its key applications like cost reduction and number of corporate endpoints have also largely increased, along with the growing concerns to protect them. The demand for threat intelligence market is mainly driven various factors like simple management, increased efficiency and usability, and reduced cost to the companies. Besides, cloud video in the meeting room through a range of devices. It is acting as a boon to various companies in different geographical locations which require frequent collaborations.

However, the biggest challenge faced by many enterprises is lack of cyber-security skills that is hampering their ability to meet evolving IT security needs. Many organizations are hiring security professionals who lack the skills to identify and analyze advanced threats in a cyber attack. As per a Report by Cyber security Job Trends, more than two-thirds of organizations feel the shortage of skilled cyber-security professionals in the industry. Thus, lack of competent and skilled cyber-security professional has become a major restraint in the market growth for threat intelligence.

Regional and Country-level Analysis

By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America held almost 38% share of the overall market due to the presence of well recognized and established enterprises in this region and rising use of tracking devices and remote monitoring are encouraging companies to adopt advanced security solutions in this region. Asia-Pacific is expected to grow at high CAGR owing to the developing nations like India, and China. Many small and large-scale enterprises are now adopting the low cost threat intelligence solutions which are propelling the market growth.

Segmentation Analysis:

The global market for the threat intelligence is segmented into component, deployment, organization size, applications, and region. Based on the component, the global market for threat intelligence is segmented into solutions, and services. The solutions market is further segmented into unified threat management, SIEM, IAM, incident forensics, and log management. The services segment is further divided into professional services, managed service, subscription services, and training & support. From this, solutions market accounted for almost 56% share of the market by component. This is mainly due to the rising need to increase the threat detection process which is driving the use of SIEM and UTM solutions market. Besides, the SIEM technology also uses correlation mechanisms and event discovery to raise the speed of network event monitoring process by combining the alerts & error logs in a unified solution.

Based on deployment, the market is categorized into on-premise, and cloud-based. The on-premise segment held almost 63% share of the market in 2019. However, the market for cloud-based solutions is likely to grow at high CAGR in the forecast period as many medium and large enterprises have been finding difficulties in managing the on-premise solutions due to issues like lack of resource and expertise as well as budget constraints. Thus, the adoption of cloud-based solutions is accelerating at high pace due to demand for cloud-based security solutions.

Based on organization size, the market is categorized into large size organizations and small & medium size organizations (SME’s). The market for SME’s is likely to grow at high CAGR in the forecast period due to the rising incidences of cyber-attacks on small sized enterprises. Though SMEs are small in size but they cater to large customer base globally.

Based on applications, the market is categorized into IT & telecom, BFSI, retail, government & defense, healthcare, manufacturing, and others. The BFSI segment held almost 23.2% share of the market in 2019 as the frequency of cyber attacks is rising in the banking sector thus there is a need to develop a strong security posture in this sector.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT on Threat Intelligence Market

Major Key Players of 2020 Threat Intelligence Market Report:

Major players in Threat Intelligence market are Symantec Corporation, IBM Corporation, Check Point Software Technologies Ltd., Dell Inc., McAfee LLC, Webroot, Inc., Fortinet, Inc., CrowdStrike, Inc., Farsight Security, Inc., and Anomali, Inc. among others.

The report segments of global Threat Intelligence Market are as follows:

By Component

· Solution

o Unified Threat Management

o Incident Forensics

o SIEM

o IAM

o Log Management

o Third Party Risk Management

· Services

o Managed Service

o Professional Services

o Subscription Services

o Training & Support

By Deployment

· Cloud-Based

· On-Premise

By Organization Size

· Small Size Organization

· Medium Size Organization

· Large Size Organization

By Application

· BFSI

· Healthcare

· Retail

· IT & Telecom

· Government & Defense

· Manufacturing

· Others

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The report highlights in-depth quantitative as well as qualitative insights, historical data, and market size projections till 2027. It also gives a perspective on manufacturers, associations, specific organizations, industries, companies, and suppliers that work to expand their business worldwide. Value chain analysis of the industry is explained in detail this providing a clear view of key mediators involved. The report studies the global Threat Intelligence market size from the company, major regions and countries, products type, end users and applications, background information, and also predictions to 2027.

In depth competitive landscaping, recent developments by competitors and product pipelines are covered in the report. Further, the report focuses on various strategies adopted by different key stakeholders with respect to product marketing. The consumption or sales revenue, consumption market share and its growth across the applicable regions is described in detail in the report. In addition, it also studies the sales channels and strategies that are adopted by different leading manufacturers.

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