The Asia Pacific threat intelligence market is projected to grow at a high CAGR over during the forecast period. In this region, penetration of smartphones and the growing adoption of IoT are triggering the cybercrime. According to the CNNIC, at the end of December 2017, the number of internet users in China reached 772 million, which is an increase of 40.74 million from the end of 2016. The rise in the number of connected devices has increased the attack surface. This drives the need to have robust threat intelligence solutions to address the attacks. Also, various government initiatives to speed up the digital transformation also increased the frequency and sophistication of online attacks. The countries including China, India, Singapore have introduced several cybersecurity policies and reforms to ensure stronger data protection.
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Threat intelligence market | Impact of the growing healthcare cyberattacks
As the global Threat intelligence market in healthcare sector goes through a digital transformation, wherein it is adopting new technologies to enhance the level of patient care & medical treatments while continuing to facilitate patients with life-critical services, the vulnerabilities that are being created or exposed by this transformation phase are being treated as opportunities by criminal & malicious entities for their own personal gain. According to the Center for Internet Security, these threats range anywhere between malwares, that are designed to compromise the privacy of the patients & the integrity of the systems, to Distributed Denial of Service (DDoS) attacks, that are designed to hamper a facility’s ability of providing proper patient care. While these issues plague other industrial & infrastructural sectors as well, the ramifications of a cyberattack on a healthcare facility go far beyond financial losses & privacy breaches.
According to the Southern Medical Association, as cyberattacks continue to proliferate, the global healthcare industry remains a primary target. In fact, 2017 witnessed the most successful data breaches in history, bringing legal consequences & detrimental financial losses to the victims and costing organizations more than $5 billion in accumulated financial losses & estimated total payouts. As healthcare organizations store a copious amount of information associated with their patients, cyberattacks, aiming to gain access to these data reserves, would be continuing to occur in the sector, generating significant opportunities for the threat intelligence market contenders. Indeed, the global threat intelligence market is projected to witness a CAGR of 13% over 2019-2025 from the healthcare industry.
The cloud deployment model is expected to grow at a CAGR of over 20% from 2019 to 2025. These models eliminate the need to deploy cumbersome on-premise threat intelligence platforms, thus save huge costs. The cloud deployment model is gaining an immense popularity among SMEs as they can utilize the benefits of such platforms in a cost-effective manner.
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Threat intelligence market | Impact of increasing cyberattacks on Government Institutions
Attributing to these three determinants, it is unmistakably clear, that the global threat intelligence market would be witnessing tremendous growth in the years to come. In fact, according to a report by Global Market Insights, Inc., the overall threat intelligence market size is slated to surpass the $13 billion renumeration mark by 2025.
Threat intelligence market | Impact of rising mobile cyberattacks
The global threat intelligence market is expected to amass substantial returns from mobile-based solutions, due to the exponential rate at which cases of mobile cyberattacks & mobile frauds are growing. According to a 2018 report by ThreatMetrix, the first two quarters of 2018 witnessed the cases of mobile attacks across the globe reach the 150 million mark with attack rates growing 24% year-over-year. While the growing penetration of mobile devices has undoubtedly been a crucial factor in the rise of digital commerce, the trend has also proved to be extremely conducive for numerous malicious entities to carry out fraudulent activities.
Table of content for this research report:
Chapter 5. Global Threat Intelligence Market, By Component
5.1. Key trends, by component
5.2.1. Market estimates and forecast, 2014 – 2025
5.2.2. Unified Threat Management (UTM)
18.104.22.168. Market estimates and forecast, 2014-2025
5.2.3. Security Information & Event Management (SIEM)
22.214.171.124. Market estimates and forecast, 2014-2025
5.2.4. Internet Access Management (IAM)
126.96.36.199. Market estimates and forecast, 2014-2025
5.2.5. Incident forensics
188.8.131.52. Market estimates and forecast, 2014-2025
5.2.6. Log management
184.108.40.206. Market estimates and forecast, 2014-2025
5.2.7. Risk & compliance management
220.127.116.11. Market estimates and forecast, 2014-2025
5.2.8. User and Entity Behavior Analytics (UEBA) Infrastructure protection
18.104.22.168. Market estimates and forecast, 2014-2025
5.3.1. Market estimates and forecast, 2014 – 2025
5.3.2. Professional services
22.214.171.124. Market estimates and forecast, 2014-2025
5.3.3. Managed service
126.96.36.199. Market estimates and forecast, 2014-2025
5.3.4. Subscription services
188.8.131.52. Market estimates and forecast, 2014-2025
5.3.5. Training & consulting
184.108.40.206. Market estimates and forecast, 2014-2025
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Moreover, other growing trends such as Choose Your Own Device (CYOD) & Bring Your Own Device (BYOD) being adopted across a number of enterprises, while facilitating greater convenience, are creating more vulnerabilities in the organization networks. Fueled by these trends the global threat intelligence market share from mobile-based solutions will grow at a CAGR of more than 18% over 2019-2025.
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