The threat intelligence market is soaring as enterprises look to head off attacks at the pass.
A new report from Grand View Research suggests that the threat intelligence market is anticipated to reach $12.6 billion come 2025. As threats evolve and adapt, so must enterprises. This swift statistical climb comes at a steady projected compound annual growth rate (CAGR) of 17.4% over the next eight years. The market accounted for over $3 billion in spending in 2016.
Researchers attribute this rising need to the dynamic face of new threats – malware, ransomware, other Trojan horses, etc. – which have cost global corporations hundreds of millions of dollars in 2017. These setbacks not only include up-front sales, but also productivity dips and costs of remediation on the network(s) affected.
Promising statistics show that as these breach threats proliferate on systems around the globe, cyber security professionals are prepared to invest more in threat intelligence tactics to combat or cripple these ever-spawning contagions.
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Business disruption appears to be somewhat of a sad trend in 2017, whether enterprises are affected on the hardware, software or manual sides of the breach. Thus, the community is demanding intelligence solutions and services – at a growing rate.
Intelligence incident forensics is also projected to be on the rise, as it offers enterprises real-time solutions to a potentially crippling attack. Through predictive and reactive analysis, these protocols are often able to trace the root of the breach and offer “actionable” security measures to contain the damage. The market is projected to reach $1.25 billion by 2025.
Another rising trend within this threat intelligence umbrella is cloud-based security solutions, which accounted for $1.1 billion in 2016. These measures provide a less hectic, more workable solution for enterprises – many of which are doing away with burdensome, on-site storage devices. Because of cloud storage’s meteoric rise to the forefront of data hoarding, cloud-based security solutions are right behind. One of these solutions, then, could ward off a potential threat before it even enters the respective network. As mentioned, cloud solutions also relieve some of the hardware burden that many enterprises still face.
In the cited report, its summary lists other identifiable findings, including CAGR, forensics-specific growth rates, a sector-by-sector breakdown and those deemed “key players” in this intelligence push.
The report also uncovered the largest application segment for this deployment – that being banking, financial services and insurance (BFSI), which is also projected to grow steadily over the forecast term – to over $3 billion in spending by 2025.
See related: Cyber Security Skills Gap Becoming Increasingly Worrisome
The numbers break down further, into a geographic subset – that being steady growth in the Asia Pacific market. The projected CAGR for intelligence solutions in this sample is 21.1% until 2025.
These demands essentially fall in line with what enterprises have encountered in 2017 – being menacing attacks that can both disable or disrupt workflow.
The endeavor will likely require extensive R&D on the development side of IT, and yet there appears to be a drastic skills gap in cyber security. As previously reported by CSHub, both demand and the number of battle-ready white hats are trending in opposite directions.
While some reports suggest AI – via automation software – could serve as a stopgap as the industry builds up its troops, it is likely that information security seats need to be filled as more enterprises demand cutting-edge solutions. This is a dilemma that affects both the commercial and operational side of cyber security.
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