Threat intelligence security applications market is gaining traction because of the convergence of IT and OT systems and exponential rise and sophistication of cyberattacks.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global threat intelligence security applications market size at USD 12.23 billion in 2022. During the forecast period between 2023 and 2029, the global threat intelligence security applications market size is projected to grow at a steady CAGR of 6.35% reaching a value of USD 18.69 billion by 2029. Rising commercial and public spending to enhance security and prevent possible threats are significant development drivers for the global threat intelligence security applications market. Threat intelligence security applications are being used by companies as a result of the rising number of targeted cyberattacks and the continuously evolving technology used in these attacks, which is propelling the market’s overall growth.
Global Threat Intelligence Security Applications Market – Overview
Threat intelligence is the data that is gathered, processed, and analyzed to identify the goals, targets, and attack tactics of a malicious attacker. The risk analysis of how a business choice could render the company exposed to cyberattacks is an illustration of strategic threat intelligence. Technical threat intelligence also includes details about individual IP addresses and domains used by malicious endpoints, email headers used in phishing frauds, malware’s hash checksum, etc. SOC personnel and IR teams ingest technical threat intelligence.
Global Threat Intelligence Security Applications Market – By Deployment Mode
Based on deployment mode, the global threat intelligence security applications market is segmented into on-premises and cloud. Cloud deployment accounts for a higher share in the global threat intelligence security applications market. Utilizing the global community to identify and transform unknown threats, and controllable dangers, businesses utilize the threat intelligence cloud to lower the attack surface, block all known risks, and limit the number of potential threats. In order to protect clients’ networks against known and unforeseen warnings at every level of the attack kill chain, including distribution, exploitation, and command-and-control, the threat intelligence cloud establishes a closed loop of ongoing detection and prevention.
Impact of COVID-19 on Global Threat Intelligence Security Applications Market
The abrupt COVID-19 breakout forced enterprises to embrace cloud computing and run their operations digitally due to the worldwide lockdown enforced in several regions around the world. However, this also caused a sharp increase in cyberattacks and other damaging cyberspace incidents. In order to reduce the risks of cyberattacks and adhere to legal obligations, both private and government enterprises, as well as a large number of startups, are increasingly turning to cybersecurity services and solutions.
Major players operating in the global Threat Intelligence Security Applications market include Juniper Networks, Inc., Dell Inc., Check Point Software Technologies Ltd., FireEye, Inc., IBM Corporation, AlienVault, Inc., LogRhythm, Inc., F-Secure Corporation, Webroot Inc., Fortinet, Inc., McAfee, LLC, Symantec Corporation, and LookingGlass Cyber Solutions, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Threat Intelligence Security Applications Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Threat Intelligence Security Applications Marketand industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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