Threat Intelligence Market Trends

Growth Drivers

• Growing Expenditure on Cyber Security – Organizations are spending hefty amounts on cyber security solutions to identify unknown online threats and restrict them before it hampers the security system. By the end of 2023, the spending on cyber security solutions and services in the world is forecasted to reach around USD 220 billion, an increase from 12% in 2022.
• Huge Amount of Data Being Generated Daily – The increase in the volume of data being generated daily has fostered the emergence of attacking techniques which leaves the data vulnerable. This leads to the requirement for efficient solutions such as threat intelligence. The total amount of data that was created and consumed worldwide is anticipated to increase from 65 zettabytes in 2020 to more than 180 zettabytes by 2025.
• Penetration of Internet Services – Global digitization has led to the development of Internet services which increases the chance of cyber threats. Thus, secure control systems such as threat intelligence are being deployed in the industries. As of January 2023, there were almost 5 billion internet users worldwide.
• Surging Cloud Threats and Data Breaches – The emergence of digital technologies has increased cloud threats and data breaches which subsequently require intelligence threat intelligence for the fight against data theft. About 80% of the companies present in the world have one cloud security incident in 2022.

Challenges

• High Deployment Cost of Threat Intelligence Solutions – Deployment of threat intelligence solutions increases the infrastructure costs for a company-wide coverage. Also, the requirement of strong multi-factor authentication for smooth functioning makes threat intelligence services expensive.
• Unavailability of Trained Security Analysts
• Inability of Security System to Manage Different Threat Types at the Same Time