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Threat Intelligence Market Growing at a CAGR 6.5% | Key Player IBM, Cisco, Trend Micro, McAfee, Mimecast
The global threat intelligence market size is projected to grow from USD 11.6 billion in 2021 to USD 15.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. This growth is attributed to the R&D investments by governments and enterprises to develop robust threat intelligence solutions, and increase in the demand for professional and managed security services. The increasing venture capital funding and growing investments in threat intelligence to drive market growth.
IT and ITeS vertical to hold the largest market size during the forecast period
The IT and ITeS vertical includes IT solution and service providers, consulting companies, internet service providers, and communication companies. This vertical is constantly evolving in terms of the use of technologies, and is an early adopter of innovative technology solutions. It requires threat intelligence solutions at a large scale due to voluminous information produced daily. The increasing integration of Information and Communications Technology (ICT) with the daily activities of industries, families, governments, and consumers, along with the rising growth of cybersecurity, has led the information vertical to focus more on IT activities. Therefore, IT and ITeS holds the largest market size during the forecast period.
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North America to hold the largest market share during the forecast period.
North America has several prominent market players delivering threat intelligence solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the threat intelligence markets growth. The geographical presence, significant Research and Development (R & D) activities, partnerships, and acquisitions and mergers are the major factors for deploying threat intelligence and services.
Key and innovative vendors in the threat intelligence market include IBM (US), Cisco (US), Trend Micro (Japan), McAfee (US), Mimecast (UK), VMware (US), AT&T (US), Check Point (Israel), DXC Technology (US), Broadcom (US) and NSFOCUS (US).
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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the threat intelligence market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2022 to innovate their offerings and broaden their customer base.
IBM operates through the following segments: cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM’s main activity is to find solutions for its clients using advanced technologies and it is one of the key vendor of threat intelligence solutions. Its clients comprise individual users, specialized businesses, and institutions, such as governments, IT companies, defense organizations, and educational institutes. The company offers various solutions, including cloud IAM, cloud Identity, application security, network projection, security intelligence and operations, data protection, and endpoint security. Its security platform caters to many industry use case scenarios, including supply chain, financial services, automotive, real estate, food safety, identity, and international trade.
Cisco is one of the provider of threat intelligence solutions that develops and sells software, networking hardware, telecom equipment, and high technology services and products. The company’s customer base includes large enterprises, small and mid-sized businesses with security solutions, such as Threat Intelligence Director, Secure-X, Cisco Zero Trust, Cisco Secure Data Center, and Cisco Application-First Security. The Cisco Security Technology Alliance enables open, multi-vendor product integration with Cisco’s security products. The company offers services, such as advisory services, implementation services, managed services, and Cisco Talos Incident Response service.
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