Threat intelligence Security market worth $5.8 billion by 2020, says MarketsandMarkets
According to a new market research report “Threat Intelligence Security Market by Solution (SIEM, Log Management, IAM, SVM, Risk Management, Incident Forensics), Service (Managed, Professional), Deployment, Organization Size, Vertical, Region – Global Forecast to 2020”, published July 7 by Dallas, TX-based MarketsandMarkets, the Threat Intelligence Security Market is expected to grow from $3,002.7 Million in 2015 to $5,860.5 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period.
The market report segments the global market on the basis of solutions, services, deployment types, organization size, verticals, and regions along with providing an in-depth analysis and the market size estimations. The managed services are further segmented into advanced threat monitoring and security intelligence feeds. Professional services are further segmented by consulting and training and support.
Threat Intelligence Security Market refers to an organization’s ability to analyze and understand information related to all types of cyber-attacks. Due to the rising rate of cyber-crimes, organizations are increasingly spending on their network security that has helped the market grow significantly over the last five to six years.
One of the major factors driving the rapid growth of the Threat Intelligence Security Market is the rising number of sophisticated cyber-attacks. According to a recent study, the number of cyber-attacks increased to 48% during the last five years, which has resulted in an increased spending on security by enterprises. The losses incurred due to these attacks are likely to significantly disrupt the working of enterprises; therefore, organizations are opting for efficient security solutions to protect themselves from such attacks. Enterprises are also looking for solutions that can predict attacks and respond to them in real time. All the above factors have led to the high growth of the Threat Intelligence Security Market.
With enterprises increasingly adopting the Bring Your Own Device (BYOD) culture, their security needs have changed. The enterprise needs to secure the device when it is in the office premises and also when the device is out of the office network. Furthermore, the market is expected to remain competitive with the entry of niche players. These players provide hardware, thereby increasing their market bargain capability among the large vendors. The major vendors in the threat intelligences security market are IBM, Symantec, McAfee, Trend Micro, and Dell SecureWorks.
The report also identifies the drivers, restraints, and opportunities prevalent in the market along with premium insights for the market. The report has also been segmented by region: North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. A detailed analysis of the key industry players has been done to provide insights into their product and services, strategies, and recent developments associated with the Threat Intelligence Security Market.
More information is available here.