The global threat-intelligence market is expected to grow from $3.83 billion this year to $8.94 billion by 2022. That’s a compound annual growth rate (CAGR) of 18.4 percent, with IBM, Dell and McAfee among the major vendors.
That’s according to a new report by MarketsandMarkets. Other leading vendors include Trend Micro, Symantec, Check Point Software Technologies, Juniper Networks, FireEye, LogRhythm, LookingGlass Cyber Solutions, Optiv Security, Webroot, Farsight Security, F-Secure, AlienVault and Splunk.
Many of the major vendors in this market also will lead in Internet of Things (IoT) security.
The major forces driving the threat-intelligence market are concerns over data breaches due to insider attacks, fast-paced adoption by SMEs and increasing adoption of crowd-sourced threat-intelligence platforms.
There’s a big opportunity for MSPs, as the managed-services segment is expected to have the largest market share and dominate throughout the forecast period as these services help clients gain more insights into the evolving threats in their security environments. The rise in large-scale networks and the increase in number of SME customers are the driving factors for managed services.
The banking, financial services and insurance (BFSI) vertical is expected to contribute the largest market share by 2022. This sector is required to prioritize threat-intelligence services as it moves ahead with smart banking, internet banking and mobile banking options to make transactions easier for customers. The government vertical is the largest this year.
Forecasters predict North America will hold the largest market share due to the sheer number of vendors in the region. The main reason for high growth in Asia Pacific is the wide adoption of threat-intelligence services by both SMEs and large enterprises to protect network infrastructure and web, mobile, and IoT applications from vulnerabilities, and to prevent attackers from exploiting security flaws to access critical information.