PUBLISHER: Grand View Research | PRODUCT CODE: 1301184
PUBLISHER: Grand View Research | PRODUCT CODE: 1301184
The global advanced persistent threat protection market size is estimated to reach USD 24.51 billion by 2030, growing at a CAGR of 20.1% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The market is anticipated to be driven by growing cyber threats and advanced malware threats across different verticals. In recent years, disruptive and emerging technologies in the banking, retail, information technology, defense, and manufacturing sectors have provided new capabilities, facilitated automation, and improved working conditions. They have, however, emerged as powerful forces in the evolution of the global threat landscape of exploits, vulnerabilities, and malware. The goal of advanced threat protection is to provide proactive and multi-layered defense mechanisms to safeguard an organization's digital assets from evolving and complex threats.
Advanced persistent threat (APT) protection or advanced threat protection solutions use innovative threat intelligence, Machine Learning (ML), and behavioral analysis algorithms that detect threats and suspicious activities, such as phishing, spamming, and email malware leading to security breaches. The integration of advanced technologies, such as Artificial Intelligence (AI) and ML, is expected to help organizations automate the security of their networks and infrastructure. Advanced threat protection companies are engaged in developing AI-based solutions, such as extended detection and response, which monitor, collect, and correlate data across various layers, including servers, networks, endpoints, cloud, email, and more.
This helps facilitate enhanced investigation and immediate threat detection, thereby ensuring short incident response time and threat mitigation. In May 2022, LogRhythm Inc. announced a strategic partnership with REAL Security, which has more than 20 years of experience in cybersecurity and has a broad customer base across the Southeast Europe region. The partnership was aimed at providing organizations with access to advanced security tools and robust defense solutions against growing cyber threats. Together, both companies would focus on strengthening the cybersecurity position of organizations in Southeast Europe. These factors would further supplement the market growth during the forecast period.
However, the high cost of implementation, operation, and maintenance of advanced persistent threat protection solutions among Small & Medium-scaled Enterprises (SMEs) is anticipated to hamper the industry growth. The cost of implementing these solutions varies depending on the size of the enterprise, endpoint devices, and the pricing model of the vendor. Furthermore, these solutions require additional hardware and software components that increase the overall deployment cost. To overcome this challenge, many vendors have started deploying cloud-based advanced persistent threat protection solutions, which are considered cost-effective alternatives to on-premise and can be purchased on a subscription basis model, thereby further saving the cost of the customer.
For instance, in February 2022, Trend Micro Incorporated, a cyber security solution provider, signed a tactical agreement with the Ministry of Communications and Information Technology of Saudi Arabia at LEAP, an annual technology event convened in Riyadh. This agreement was aimed at capitalizing on the aggressive investments in endpoint protection, network security, hybrid cloud security, and extended detection in response to the growing cyber security threats with the launch of the company's local cloud data lake for cyber security Software as a Service (SaaS) solutions in Saudi Arabia.