The exponential growth graph depicted by the global threat intelligence market in the recent years can undoubtedly be credited to the massive surge in the number of connected endpoints. Presently, there are more than 3 billion end-users across the world that are connected to the Internet, while connected-devices are anticipated to surpass the 50 billion mark by year 2020. Having understood the dependency of these endpoints on the Internet to be able to interact with each other, cybercriminals have been exploiting the reliance to obtain an unauthorized access to the connected endpoint devices to undertake numerous malicious activities.
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The IAM market will grow at a CAGR of over 14% over the forecast time period due to the extensive adoption of advanced technologies such as BYOD, IoT, and cloud computing. The emergence of digital technologies has encouraged enterprises to build data-driven business models, making the business more agile, flexible, and scalable. However, this exposes organizations to insider attacks and privacy threats. This is encouraging enterprises to adopt IAM solutions to reduce the risks associated with advanced technologies. The incident forensics threat intelligence market is predicted to attain a CAGR of over 15% over the forecast time period. The rising adoption of incident forensics among SMEs is driving its growth. The incident forensics solutions provide an inexpensive alternative to small enterprises with budgetary constraints to implement threat intelligence solutions.
As the global 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.
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The Asia Pacific threat intelligence market is predicted to grow at a CAGR of 17% over the projected timespan. The rise in the number of cybercrime activities is due to the increasing penetration of smart devices across various business verticals and the growing internet penetration, promoting the use of threat intelligence solutions in the region. The market is also driven by the increasing number of collaborative efforts between the government and cybersecurity providers to modernize the security framework. The government has issued various guidelines mandating private & public sector establishments to upgrade their security infrastructure to combat with the evolving cybersecurity challenges.
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The companies operating in the threat intelligence market are Accenture, Crowdstrike, Digital Shadows, Flashpoint, IntSights, Palo Alto Networks, Proofpoint, McAfee, Oracle, Kaspersky Lab, Hold Security, IBM, Sophos, Symantec, Recorded Future, Secureworks, Group-IB, FireEye, Check Point Software, ThreatQuotient, Cisco Systems, and TrendMicro. The startups in the threat intelligence market are conducting fundraising activities to increase their presence in the market. For instance, in October 2017, the Recorded Future raised USD 25 million Insight Venture Partners to further extend its presence in the market. The funds will be used for its geographical expansion in foreign markets.