Rising cases of cyber-attacks across the world is boosting the global threat intelligence security solutions market growth. The COVID-19 pandemic has severely impacted the market growth. The Asia-Pacific market is expected to obverse significant growth in the near future
NEW YORK, March 16, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Threat Intelligence Security Solutions Market by Application (Security Analytics, Security information & event management (SIEM), Risk Management, Security & Vulnerability Management, and Others), Service Type (Managed and Professional Services), Deployment Type (Cloud and On-premise Model), Organization Type (Small & Medium Enterprises and Large Enterprises), Vertical Type (BFSI, Government & Defense, Healthcare, IT & telecom, Manufacturing, and Retail), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027".
The Global Threat Intelligence Security Solutions Market is expected to reach up to $18,320.4 million by 2027, growing at a CAGR of 7.8% from 2020 to 2027. The report caters detailed insights into the current conditions and future growth of the industry by thoroughly analyzing market drivers and limitations, opportunities, major segments, and regions.
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Key Segment Findings of the Market:
The market is segmented on the basis of product type, application, service, deployment model, organization type, vertical, and region.
- Among service type segment, the managed sub-segment is estimated to lead the market by growing at a CAGR of 7.1% during the estimated period. The growth of this sub-segment is chiefly due to the growing demand for managed services owing to growing cyber-attacks, network downtime, high cost of data loss, lack of IT skilled professionals, and lower IT budgets.
- Among application segment, the identity and access management sub-segment is expected to hold a major market share by growing at a CAGR of 7.2% during the estimated period. The growth of this sub-segment is mostly due to the growing adoption of Internet of Things (IoT), connected devices, Bring Your Own Device (BYOD), and audit management combined with cost control.
- Among region, the Asia-Pacific region market is predicted to observe accelerated growth by registering a CAGR of 8.4% during the projected timeframe. The growth of this region is chiefly due to rising investments in threat intelligence projects by emerging nations such as Australia, India, South Korea, and other countries in this region.
Increasing cyber threats, such as phishing, zero-day threats, data breaches, and inside attacks, is the key factor propelling the growth of the global threat intelligence security solutions market. In addition, increasing investments in R&D activities for improved threat intelligence security solutions by several organizations and growing government support for the development of advanced threat intelligence security solutions are projected to unlock novel opportunities for the market growth during the projected period. However, high costs involved in the implementation of threat intelligence security solutions is expected to hinder the market growth during the forecast period.
Impact of the COVID-19 Pandemic on the Threat Intelligence Security Solutions Market:
The COVID-19 pandemic has made a major impact on the growth of the global threat intelligence security solutions market. The COVID-19 lockdown restrictions have forced many companies to adopt work-from-home working model to avoid spread of infection. Hence, many companies are fast-tracking their digital transformation for enabling smooth workflow even during lockdown restrictions. However, the rise in remote work model has triggered the threat for cyber security, which is now a major issue. Various companies have started adopting threat intelligence security solutions for evading cyber-attacks amidst the crisis period, which is boosting the growth of the market.
Top 10 Companies of Threat Intelligence Security Solutions Industry
The major players of the global threat intelligence security solutions industry are
- Fortinet Inc.
- Webroot Inc.
- McAfee LLC
- Juniper Networks Inc.
- IBM Corporation
- DXC technology
- Fortinet Inc.
- Symantec Corporation
- FireEye Inc.
- Dell Inc.
Several business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to obtain a strong position in the global market. For instance, in December 2020, Cyware, a foremost provider of threat intelligence and cyber fusion solutions, publicized the launch of their latest solution – CTIX Lite, a lightweight threat intelligence solution for small to mid-sized security teams. It is a complete solution providing best quality threat intelligence feeds, enrichment, and automation competences in a single platform.
Moreover, the report offers other key details of these players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
More about Threat Intelligence Security Solutions:
- Work-From-Home Trend to Propel the Growth of Global Threat Intelligence Security Solutions (TISS) Market during the Covid-19 Pandemic
- All You Need To Know About Threat Intelligence Security Solutions Preferred by Most Businesses
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