Global Threat Intelligence Market Valued at $13.5 Billion in 2023, Set to Hit $43.3 Billion by 2033
Market Size : The global threat intelligence market size was valued at USD 13.5 billion in 2023, and is projected to reach USD 43.3 billion by 2033, growing at a CAGR of 12.4% from 2023 to 2033.
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Prime Determinants of Growth
Rise in number of sophisticated cyberattack, growing need to secure critical infrastructure, and extensive adoption and deployment of digital technologies are the factors expected to propel the growth of the threat intelligence market. However, high cost associated with threat intelligence solutions and lack of skilled professionals & technical complexities in deployment of threat intelligence solutions are anticipated to hamper the growth of the market. On the contrary, favorable government initiatives and investments to strengthen security infrastructure are further likely to create lucrative opportunities for the growth of the market.
Report Coverage & Details :
Segment highlights
The solutions segment held the highest market share in 2023
By component, the solutions segment held the highest market share in 2023, accounting for more than three-fifths of the threat intelligence market revenue and is estimated to maintain its leadership status during the forecast period, owing its ability to provide comprehensive tools for detecting, analysing, and mitigating cyber threats, which propel the overall market growth. However, the services segment is expected to attain the largest CAGR of 13.6% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to growing complexity of cyberattacks and the need for continuous monitoring and proactive threat mitigation, have further fueled the market growth.
The security information and event management segment held the highest market share in 2023
By application, the security information and event management segment held the highest market share in 2023, accounting for more than two-thirds of the threat intelligence market revenue and is estimated to maintain its leadership status during the forecast period, owing to its important role in providing real-time analysis and management of security alerts generated by applications and network hardware, which propel the overall market growth. However, the government, risk, and compliance segment is expected to attain the largest CAGR of 14.6% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the growing focus on strengthening cybersecurity frameworks, managing organizational risks, and ensuring compliance with ever-evolving regulations, have further fueled the market growth.
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The cloud segment to maintain its lead position during the forecast period
By deployment mode, the cloud segment accounted for the largest share in 2023, contributing for more than three-fifths of the threat intelligence market revenue and is also expected to register the highest CAGR during the forecast period. This is attributed growing preference for cloud services in industries such as finance, healthcare, and retail, combined with the rise of hybrid cloud models, further supports the demand for cloud-based threat intelligence solutions.
The IT and telecom segment accounted for the largest share in 2023
By industrial vertical, the IT and telecom segment accounted for the largest share in 2023, accounting for more than one-third of the threat intelligence market revenue and is estimated to maintain its leadership status during the forecast period, owing to rapid adoption of 5G technology, along with the expansion of the Internet of Things (IoT). However, the healthcare and life sciences segment is expected to attain the largest CAGR of 16.0% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to rise in digitization of healthcare systems, rise in cyber threats targeting sensitive patient data, and rise in adoption of electronic health records (EHR) and telemedicine solutions. Thereby, driving the growth of this segment in the global threat intelligence market.
North America region to maintain its dominance by 2033
By region, the North America segment held the highest market share in terms of revenue in 2023, owing to its advanced technological infrastructure, high cybersecurity awareness, and presence of leading vendors and service providers. However, the Middle East and Africa region is projected to attain the highest CAGR of 17.9% from 2023 to 2033, owing to the rapid digital transformation, increasing internet penetration, and growing awareness of cybersecurity threats in the region.
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Leading Market Players: -
Cisco Systems Inc.
McAfee, LLC
Broadcom
Juniper Networks, Inc.,
CrowdStrike, Inc.
Palo Alto Networks, Inc.
IBM Corporation
Anomali, Inc.,
Check Point Software Technologies Ltd.
Microsoft Corporation
The report provides a detailed analysis of these key players in the threat intelligence market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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