The global threat intelligence market is expected to quadruple by 2025.
That’s according to a new report by Grand View Research. The market was $3 billion last year and is expected to reach $12.6 billion — that’s a compound annual growth rate (CAGR) of 17.4 percent.
Key players include IBM, Dell, Symantec and Check Point Software Technologies, accounting for most of the overall market in 2016.
Escalating demand for threat intelligence is spurred by increasing cyber crime, threat breaches and the growing numbers of sophisticated attacks in various sectors, according to Grand View Research.
Threat intelligence incident forensics is expected to gain traction during the coming years. It initiates security during a breach through predictive and reactive analysis, investigates the root causes and contains the damage of an attack.
Organizations are preferring the use of cloud security because of the high cost of on-premises offerings, according to the report. Cloud-based security adoption is expected to increase due to the growing adoption of cloud storage systems.
Banking, financial services and insurance (BFSI) emerged as the largest application vertical and is estimated to generate nearly $3.3 billion by 2025.
Asia Pacific is projected to witness substantial growth due to large-scale adoption of threat-intelligence services.