MRFR (Market Research Future) expects the threat intelligence management market 2020 to capture significant traction over the review period (from 2020 to 2027). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
COVID-19 Impact on the Threat Intelligence Management Market
Business continuity has been the key focus for organizations post the COVID-19 outbreak, which is why employees are being allowed to work from home. The mounting number of people working from home since the worldwide lockdown has resulted in a substantial demand for online video downloading, viewing and video conferencing, which has led to a dramatic surge in data usage and network traffic. The SARS-CoV-2 pandemic has given ways to cybercriminals to exploit the emerging vulnerabilities with cyber-attacks, such as man-in-the-middle, botnet, Distributed Denial of Service (DDoS) and social engineering. The primary targets have been the networks along with the endpoints across the IoT infrastructure for identity and data thefts. Therefore, the worsening scenario with rise in cyber threats and attacks following the novel coronavirus has bolstered the demand for threat intelligent management, and has thereby, boosted the growth for the same.
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Top Impacting Factors and Barriers
Cybercriminals in recent years have gained a lot of momentum, by gaining access into networks backed by the increased sophistication of the cyber-attacks. Many of the attackers are now even acting as a legitimate organization that could potentially become bigger in the coming years, thus increasing the risk of attacks on industries like healthcare, government, BFSI, and many more. The grave scenario is driving security awareness among businesses, which are now willing to spend considerably on threat intelligence solutions to mitigate or combat any risk to the organization. A major trend expected to gain traction in the market is the surging uptake of cloud deployment mode, which are not only cost-effective but also offer SaaS-based security services for better security of business applications. Cloud also helps organizations with lower budgets in terms of security investments.
Governments play an instrumental role in the global market, since they are focusing on addressing the budgetary constraints in cybersecurity systems, while also looking for a favorable outcome by gathering threat artifacts to bring down the risk of threats. Governments are lending support to organizations by helping them accumulate data and develop an effective preventive tactic in advance, which curbs any chances of cyber-attacks in the future. Some of the geopolitical nations like India, Russia, the US and China have banded together to form APT units for security of sensitive data across businesses as well as governments, an initiative that can work favorably for the threat intelligence management market in the long term.
The rising BYOD trend among employees, given the provision of satisfaction along with cost reduction, has boosted the use of personal devices that have access to the organization’s data and applications. With this trend, the corporate endpoints have increased in number, while also giving a boost to concerns with regard to their security. This situation is also bound to foster the product demand in the coming years. A huge number of renowned firms adopt various competitive strategies to cater to the expanding consumer base, be it launching new software, solutions and technologies or entering into agreements and partnerships. For instance, in October 2020, FireEye launched Mandiant Advantage, which is a SaaS threat intelligence suite. The suite is a combination of o threat intelligence and the data generated from the company’s cyber incident response engagements, which will be delivered via an easy-to-operate management platform.
Solutions, services, deployment mode, organization size and end-users are the top segments depending on which the market has been extensively analyzed in the MRFR report.
The key solutions discussed in the report are identity and access management solutions, network management solutions, log management and firewall and threat intelligence and risk management solutions.
The services available in the global market are threat monitoring services and consultation, threat intelligence feed services, and more.
The deployment modes covered are Cloud deployment as well as on-premises.
With respect to organization size, the market has been considered for small and medium as well as large enterprises.
Some of the top market end-users include research organizations, manufacturing, retail, education, BFSI, transportation, telecommunication, healthcare, and more.
The regional study of the global threat intelligence management market comprises Europe, North America along with APAC or Asia Pacific and RoW or and Rest of the World.
North America is the top contender in the global market, considering that the region is known for being the earliest adopter of advanced technologies and is a hub for world renowned companies that focus on innovations in threat intelligence management solutions. The United States remains in the lead, since the country accommodates big names like Symantec, McAfee and IBM that are developing advanced threat intelligent management tools. AI and machine learning are some of the top technologies prevalent in the region, with most of the organizations relying on them for optimum efficiency. The rising integration of these technologies with threat intelligence management in the region is helping turn the tides against cybercriminals, thereby giving a major push to the market growth.
APAC occupies a substantial share in the global market, with strong backing from the soaring number of small and medium as well as large enterprises across Japan, India and China. The organizations are increasingly striving to boost their network defenses to avoid cyber-attacks and more. The burgeoning data volume combined with the heightened demand for web and mobile applications will also induce growth in the threat intelligence market.
Key Market Competitors
Some of the key market competitors are Trend Micro Incorporated (Japan), McAfee LLC (USA), LookingGlass Cyber Solutions Inc. (USA), LogRhythm Inc. (USA), Symantec Corporation (USA), Check Point Software Technologies Ltd. (USA), IBM Corporation (USA), Dell Technologies Inc. (USA), Optiv Security Inc. (USA), FireEye Inc. (USA), Juniper Networks Inc. (USA), and more.
A few more active players in the global industry include AlienVault Inc. (USA), Splunk Inc. (USA), Webroot Inc. (USA), F-Secure Corporation (Europe), Farsight Security Inc. (USA), to name a few.
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