Market Research Future (MRFR) presumes the global Threat Intelligence Platform Market to reach USD 6.6 billion at a CAGR of 21.4% from 2020 to 2027 (forecast period).
Multiple Factors that Boost Market Growth
As the volume and complexity of threats grow exponentially, threat intelligence platforms are vital security tools. The technology identifies malicious activity within an organization’s network. The platforms are installed as a SaaS or on-premise solution to help manage cyber threat intelligence and associated entities like actors, campaigns, incidents, signatures, bulletins, and tactics, techniques, and procedures (TTP). The platform can aggregate intelligence from numerous sources and combine it with existing security systems. The platform analyses data and offers threat intelligence insights. A massive number of connected devices can be attributed to the increasing level of interconnectivity caused by the increased adoption of Internet of Things (IoT) technologies and rising BYOD trends. Enterprises must employ next-generation cybersecurity solutions, such as threat intelligence platforms, which drive market development. Another reason driving the global threat intelligence platform market is stringent data protection regulations. The increase in the number of targeted attacks and the prevalence of advanced persistent threats (APTs) further drives market expansion.
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The global threat intelligence platform industry has been segmented based on component, organization size, deployment, and vertical.
On the basis of components, the global threat intelligence platform market has been divided into solutions and services. The services segment has been split into professional services and managed services.
On the basis of organization size, the global threat intelligence platform market has been divided into small- and medium-sized enterprises (SME) and large enterprises.
On the basis of deployment, the worldwide threat intelligence platform market has been divided into on-premise and cloud.
On the basis of vertical, the worldwide threat intelligence platform market has been divided into banking, government and defense, financial services, and insurance (BFSI), IT and telecommunication, energy and utilities, healthcare, manufacturing, transportation, retail, education, and others.
North America to Dominate the Global Market
During the projection period, North America is expected to have the greatest market size. Increased adoption of IoT and BYOD has resulted in rapid growth in the number of connected devices, increasing the danger of a cyber-attack. The platform enables enterprise analysts to conduct deeper investigations while disseminating intelligence more quickly. Large organizations, as well as SMEs from various industries, have used advanced cybersecurity solutions on a large scale, such as threat intelligence systems. These factors help to propel North America to the top of the global threat intelligence platform market. The United States leads the market in North America due to the early adoption of cybersecurity solutions and initiatives by key companies in the form of partnerships with different technology players for product enhancement. The prevention of cybersecurity assaults and breaches is a driving element in the market’s growth.
According to MRFR, the main players in the worldwide threat intelligence platform market are recognized based on their country of origin, recent significant developments, presence across different regions, product diversification, and industry expertise. These invlove IBM Corporation (US), McAfee, LLC (US), Symantec Corporation (US), FireEye, Inc. (US), Dell Inc. (US), Optiv Security Inc. (US), Check Point Software Technologies Ltd. (Israel), Trend Micro Incorporated (Japan), AO Kaspersky Lab (Russia), Webroot Inc. (US), AT&T (US), Flashpoint (US), Intel 471 (US), PhishLabs (US), and LogRhythm, Inc. (US).
The other participants in the global threat intelligence platform market are Group-IB (Russia), CrowdStrike (US), Digital Shadows Ltd (US), LookingGlass Cyber Solutions, Inc. (US), ThreatConnect, Inc. (US), Farsight Security (US), Blueliv (Spain), Proofpoint, Inc. (US), DomainTools (US), SurfWatch Labs, Inc. (US) and others.
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