The global threat intelligence security market size is expected to increase by USD 14.03 billion, accelerating at a CAGR of 23.96% between 2021 and 2026.
The market is driven by the rising number of cyberattacks on connected devices or systems. The number of data breaches is increasing at an alarming rate globally. The average cost of a data breach is substantially high and can run into millions and companies must bear it if their networks are compromised and the attack is successful. Malicious attacks come from external sources, such as professional hackers, and are mainly intended to make financial gains from stolen data. Data breaches adversely impact businesses as stolen information can be misused or deployed for unethical practices. Hence, businesses are increasingly adopting threat intelligence services and platforms to shield and protect their sensitive information systems and gain an edge over cyber criminals. All these factors are driving the growth of the market.
In addition, the increasing adoption of mobility and IoT expanding the attack surface and ransomware attackers targeting enterprises will further propel the market growth. However, the increasing complexity of IT infrastructure will hamper the market growth.
Threat Intelligence Security Market: End-user Landscape
- By end-users, the market is analyzed across segments such as BFSI, IT and telecom, healthcare, transportation and logistics, and others.
- BFSI companies are the major end-users of threat intelligence security solutions. The continuous targeting of the BFSI sector by cybercriminals is driving the growth of the segment. Also, increasing digital payments is contributing to the growth of the segment.
Threat Intelligence Security Market: Geographic Landscape
By geography, North America is going to have lucrative growth during the forecast period. About 35% of the market’s overall growth is expected to originate from North America. The threat intelligence security market in North America is growing rapidly because of the increased investments in threat intelligence security solutions by companies and the increasing application of threat intelligence solutions in commercial and industrial activities that involve data generation.