PUBLISHER: The Business Research Company | PRODUCT CODE: 1499818
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499818
Cyber threat intelligence involves the systematic gathering, analysis, and distribution of information concerning potential cyber threats and vulnerabilities. This process equips businesses with insights into the strategies, techniques, and procedures employed by cyber adversaries, empowering them to preemptively safeguard against cyberattacks.
The primary outputs of cyber threat intelligence are software and hardware solutions. Cyber threat intelligence software encompasses tools tailored to gather, analyze, and disseminate data pertaining to cybersecurity threats and vulnerabilities. These solutions offer flexible deployment options, including cloud-based and on-premise setups, catering to diverse sectors such as banking, government, and enterprise among others.
The cyber threat intelligence research report is one of a series of new reports from The Business Research Company that provides cyber threat intelligence market statistics, including the cyber threat intelligence industry's global market size, regional shares, competitors with a cyber threat intelligence market share, detailed cyber threat intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the cyber threat intelligence industry. This cyber threat intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cyber threat intelligence market size has grown exponentially in recent years. It will grow from $9.51 billion in 2023 to $11.58 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The expansion observed during the historical period can be attributed to several factors, including the surge in cyberattacks, heightened incidents of malware, increased cyber espionage activities, the proliferation of connected devices, and the growing number of internet users.
The cyber threat intelligence market size is expected to see exponential growth in the next few years. It will grow to $25.68 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The anticipated growth in the forecast period is anticipated due to various factors, including the projected rise in cyber threats, the escalating sophistication of cyber attacks and capabilities, the expansion of digital ecosystems, the rapid proliferation of cloud services, and increasing regulatory pressures. Noteworthy trends expected in the forecast period involve the integration of artificial intelligence, automation, real-time threat intelligence, and cloud-based threat intelligence solutions.
The anticipated growth in the cyber threat intelligence market is driven by the rising occurrence of sophisticated cyberattacks. These attacks are hostile attempts to disrupt, damage, or gain unauthorized access to computer systems, networks, or digital devices. The increase in sophisticated cyberattacks can be attributed to advancing technology, increased connectivity, and the growing value of digital assets, prompting cybercriminals to develop more sophisticated methods to exploit vulnerabilities. Cyber threat intelligence (CTI) provides insights into the tactics, techniques, and procedures (TTPs) used by cyber adversaries, which is essential for defending against advanced threats. It also contributes to the increasing sophistication of cyberattacks, as threat actors leverage CTI to identify potential targets, understand their vulnerabilities, and tailor attacks for maximum impact and evasion of defenses. In February 2023, according to the Australian Cyber Security Centre, cybercrime reports in 2022 surged to 76,000, marking a 13% increase from the previous year. Similarly, the Internet Crime Complaint Center in the United States reported 847,376 cybercrime complaints in 2021, representing a 7% rise from 2020 and estimated losses exceeding $6.9 billion. Consequently, the escalating frequency of sophisticated cyberattacks is fueling the expansion of the cyber threat intelligence market.
Major companies operating in the cyber threat intelligence market are focusing their efforts on introducing advanced solutions, such as advanced cyber threat intelligence services, to gain a competitive edge in the market. These services provide organizations with comprehensive and sophisticated insights into cyber threats, vulnerabilities, and adversarial activities. For instance, in December 2022, BlackBerry Limited, a Canada-based software company, launched its new Cyber Threat Intelligence (CTI) offering aimed at assisting customers in preventing, identifying, and effectively responding to cyberattacks, which is crucial given the escalating frequency of attacks on critical infrastructure in today's cybersecurity environment. The service, offered by BlackBerry's Threat Research and Intelligence Team, is intended to reduce cybersecurity risks and improve detection and response. The service is expected to give enterprises contextual and actionable cyber threat intelligence, allowing them to better assess their security posture, anticipate and withstand attacks, recover quickly from cyber events, and adapt to an ever-changing threat environment.
In February 2023, Accenture PLC, an Ireland-based professional services company, acquired Morphus for an undisclosed amount. The acquisition aims to enhance Accenture's cybersecurity capabilities and expand its presence in Latin America. Morphus is a Brazil-based cyber threat intelligence services provider that specializes in advanced cybersecurity solutions, with a focus on attack detection and response.
Major companies operating in the cyber threat intelligence market are Dell Technologies Inc., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Honeywell International Inc., Palo Alto Networks Inc., Parsons Corporation, Optiv Security Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, CrowdStrike Holdings Inc., FireEye Inc., Kaspersky, Rapid7 Inc., F-Secure Corporation, Webroot Inc., Recorded Future Inc., Sophos Group plc, Wurldtech Security Technologies, Lookingglass Cyber Solutions Inc.
North America was the largest region in the cyber threat intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cyber threat intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cyber threat intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cyber threat intelligence market consists of revenues earned by entities providing services such as threat intelligence monitoring, threat hunting, and malware analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The cyber threat intelligence market also includes sales of servers, network appliances, and storage devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cyber Threat Intelligence Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cyber threat intelligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cyber threat intelligence? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cyber threat intelligence market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.