Nov. 14, 2019, 5:05 a.m. EST

Threat Intelligence Platform Market reach USD 6.6 billion by 2024|Industry Growth Factors, Applications, Regional Analysis

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Nov 14, 2019 (AmericaNewsHour) -- Global Threat Intelligence Platform Market Research Report: by Component [Solution, Services (Professional Services, Managed Services)], Organization Size (Large Enterprise, Small and Medium-Sized Enterprise), Deployment (On Premise, Cloud), Vertical (BFSI, IT and Telecommunication, Government and Defense, Energy and Utilities, Healthcare, Manufacturing, Transportation, Retail, Education, Others), Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2024

Market Synopsis

The global threat intelligence platform market is expected to register a CAGR of 21.4% during the forecast period to reach USD 6.6 billion by 2024.Threat intelligence platforms are critical security tools as the volume and complexity of threats is increasing exponentially. The platform detects malicious activity inside the enterprises' network. The platforms are deployed as a SaaS or on-premise solution to facilitate the management of cyber threat intelligence and associated entities such as actors, campaigns, incidents, signatures, bulletins, and tactics, techniques, and procedures (TTP). The platform is capable of aggregation of intelligence from multiple sources, which can be integrated with existing security systems. The platform analyzes the data and shares insights related to threat intelligence. The increasing level of interconnectivity due to the increasing adoption of  Internet of Things (IoT) technology and rising BYOD trends are responsible for a large number of connected devices.

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Enterprises need to deploy next-generation cybersecurity solutions, such as threat intelligence platforms, which boost the growth of the market. The strict regulations for data protection is another factor which drives the global threat intelligence platform market. The rise in the number of targeted attacks and ubiquitous advanced persistent threats (APTs) also fuel market growth. The inability of SMEs to afford robust threat intelligence solutions due to their high costs is one of the factors limiting the growth of this market.

Segmentation

The global threat intelligence platform market has been segmented based on component, organization size, deployment, vertical, and region/country.By component, the global threat intelligence platform market has been divided into solutions and services. The services segment has been categorized as professional services and managed services.Based on organization size, the global threat intelligence platform market has been divided into small- and medium-sized enterprise (SME) and large enterprise.Based on deployment, the global threat intelligence platform market has been divided into on-premise and cloud.

On the basis of vertical, the global threat intelligence platform market has been divided into banking, financial services, and insurance (BFSI), IT and telecommunication, government and defense, energy and utilities, healthcare, manufacturing, transportation, retail, education, and others.The global threat intelligence platform market has been analyzed for four regions--North America, Europe, Asia-Pacific, and the rest of the world.

Key Players

According to MRFR, the key players in the global threat intelligence platform market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include IBM Corporation (US), Symantec Corporation (US), FireEye, Inc. (US), Dell Inc. (US), Optiv Security Inc. (US), McAfee, LLC (US), Check Point Software Technologies Ltd. (Israel), Trend Micro Incorporated (Japan), Webroot Inc. (US), PhishLabs (US), AT&T (US), AO Kaspersky Lab (Russia), Flashpoint (US), Intel 471 (US), and LogRhythm, Inc. (US).

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The other players in the threat intelligence platform market are Digital Shadows Ltd (US), LookingGlass Cyber Solutions, Inc. (US), ThreatConnect, Inc. (US),  CrowdStrike (US), Farsight Security (US), Proofpoint, Inc. (US), Group-IB (Russia), Blueliv (Spain), DomainTools (US), SurfWatch Labs, Inc.(US) and others.

Regional Analysis

The global threat intelligence platform market is projected to register a CAGR of 21.4% during the forecast period from 2019 to 2024. The geographic analysis of the global threat intelligence platform market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.North America is expected to account for the largest market size during the forecast period. Increased adoption of IoT and BYOD has lead to rapid rise in the number of connected devices, which in turn increases the risk of a cyber attack. The platform empowers the analysts in the enterprises to perform deeper investigations while disseminating intelligence faster.

The large enterprises, as well as SMEs across verticals, have deployed advanced cybersecurity solutions such as threat intelligence platforms on a large scale. Such factors contribute in making North America the leading region in the global threat intelligence platform market. The US leads the market in North America owing to the early adoption of cybersecurity solutions and initiatives by key players in the form of partnerships with different technology players for product enhancement. Prevention of cybersecurity attacks and breaches act as a driving force for the growth of the market.

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Asia-Pacific is projected to be the fastest growing market in the global threat intelligence platform market during the forecast period. The rise in the number of targeted attacks and ubiquitous APTs is the major factor which drives the market in Asia-Pacific. The platform allows enterprises to recognize threats quickly, and accelerates the process of detection and response. Along with this, the growing adoption of cloud-based cyber security solutions is another factor which is responsible for the growth of the threat intelligence platform market in Asia-Pacific.

Competitive Analysis

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