Threat Intelligence Global Market Report 2024

The threat intelligence market size has grown rapidly in recent years. It will grow from $10.86 billion in 2023 to $12.33 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth observed in the historic period was primarily driven by several factors, including the escalation of cyber threats, the need for regulatory compliance, enhancements in incident response capabilities, the growing complexity of cyber attacks, and the ongoing globalization of businesses. These elements collectively contributed to the growth witnessed during that time frame in the realm of cybersecurity.

The threat intelligence market size is expected to see rapid growth in the next few years. It will grow to $21.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. In the projected forecast period, growth is expected to stem from several key factors such as challenges in securing IoT devices, the emergence of advanced persistent threats (APTs), collaborative sharing of threat intelligence, adoption of zero trust security models, and the impact of geopolitical tensions on cybersecurity landscapes.

The growth of the threat intelligence market is propelled by the increasing demand for enhanced network infrastructure protection solutions. Companies across various sectors are investing significantly in advanced threat intelligence solutions to mitigate network vulnerabilities, bolstering network protection efforts. This shields against employee access to malicious domains and secures critical assets within the network. For instance, as indicated by the STAT IT 2024 report by Spiceworks in 2023, 66% of companies plan to expand IT budgets, anticipating a 73% revenue surge. This escalating need for network infrastructure protection is expected to drive the demand for threat intelligence solutions in the foreseeable future.

The burgeoning concern regarding cybersecurity is poised to fuel the expansion of the threat intelligence market. Cybersecurity involves safeguarding computers, networks, and data from malicious attacks. Threat intelligence, a proactive strategy, scrutinizes potential cyber threats and vulnerabilities to fortify an organization's ability to detect, prevent, and respond to security breaches effectively. Notably, CompTIA's Cybercrime Statistics in September 2023 revealed a 48% surge in phishing attacks during the first half of 2022. Hence, the mounting apprehension about cybersecurity steers the growth of the threat intelligence market.

Technological advancement emerges as a significant trend reshaping the landscape of the threat intelligence market. The evolution of tools and technology in this sphere enables deeper insights beyond attackers' capabilities, fortifying cybersecurity and ensuring resilience against future threats. EclecticIQ, a prominent global supplier of threat intelligence and response technology, unveiled the EclecticIQ Platform in 2021. Positioned as Intelligence at the CoreTM of cyber defense, this platform integrates detection and response (EDR), curated intelligence feeds, threat hunting, and collaboration features, constituting a comprehensive threat intelligence solution.

Leading entities in the threat intelligence market concentrate on product innovation, particularly cloud-native identity management platforms, aimed at resolving identity and access management (IAM) challenges within enterprise workforces. These platforms empower organizations with robust IAM capabilities to oversee and secure digital identities and cloud resources, ensuring compliance and a smooth user experience. In October 2023, ManageEngine, a US-based technology firm, unveiled Identity360, a comprehensive solution addressing organizational workforce demands, managing identities, and regulating access to cloud resources with robust security controls.

In 2021, Microsoft Corporation, a US-based multinational technology company, completed the acquisition of RiskIQ for an undisclosed sum. This move aims to bolster Microsoft's cybersecurity and risk intelligence portfolio, with plans to integrate RiskIQ's threat intelligence solutions. RiskIQ, headquartered in California, specializes in providing global threat intelligence and attack surface management solutions.

Major companies operating in the threat intelligence market report are Dell Technologies Inc., IBM Corporation, Cisco Systems Inc., Anomali Inc., IntSights Cyber Intelligence Ltd., Palo Alto Networks Inc., Fortinet Inc., Symantec Corporation, Check Point Software Technologies Ltd., CrowdStrike Inc., Proofpoint Inc., Kaspersky Lab, Optiv Security Inc., Rapid7 Inc., FireEye Inc., Recorded Future Inc., Webroot Inc., LogRhythm Inc., Flashpoint Inc., Lookingglass Cyber Solutions Inc., VMware Carbon Black Inc., RiskIQ Inc., ThreatConnect Inc., PhishLabs, Digital Shadows Ltd., Blueliv, AlienVault Inc., F-Secure Corporation, McAfee LLC, DomainTools LLC, Trend Micro Inc.

North America was the largest region in the threat intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the threat intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the threat intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The range of solutions within threat intelligence encompasses several critical tools: threat intelligence platforms, risk and compliance management, security information and event management (SIEM), security and vulnerability management (SVM), identity and access management (IAM), user and entity behavior analytics, and incident forensics. A threat intelligence platform (TIP) operates as a system designed to collect, compile, and organize threat intelligence data from various sources and formats. TIPs empower security teams by providing insights into known malware and other threats, enabling prompt and accurate identification, investigation, and response to attacks. These platforms are deployed via both cloud-based and on-premises setups, utilized by small, medium, and large enterprises across diverse industries such as healthcare, transportation, IT and telecom, manufacturing, BFSI, energy and utilities, government and defense, retail, and education.

The threat intelligence market research report is one of a series of new reports that provides threat intelligence market statistics, including threat intelligence industry global market size, regional shares, competitors with a threat intelligence market share, detailed threat intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the threat intelligence industry. This threat intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The threat intelligence market includes revenues earned by entities by providing services such as Cyble-real-time threat monitoring, detection, and response. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.