Security Intelligence Market: Global Industry Analysis And Forecast (2023-2029)

Security Intelligence Market accounted for $ 12.38 billion in 2022 and is expected to reach $ 19.63 billion by 2029 at a CAGR of 6.8 % during the forecast period.
Security Intelligence Market Overview:
Security intelligence is the information necessary to protect an organization from both external and internal threats. Security intelligence enables professionals all across the world to strictly comply, grow their businesses, and stop threats. Growth in the adoption of Security intelligence solutions by SMEs, and various sectors are the major factors that drive the growth of the market.

Furthermore, the rise in incidences of security breaches and cybercrime in an organization fuel the growth of the Security intelligence market. According to the survey, 16 % of respondents all over the world stated that their company has already realized the benefits of investing in cloud security and more than 50 % of respondents have already started to implement cloud security intelligence for their business growth.To know about the Research Methodology :- Request Free Sample Report

Report Scope:

The study includes information about major drivers, restraints, and opportunities and a detailed analysis of market share. The report provides a quantitative analysis of the current Security Intelligence market trends, estimations, and dynamics of the market from 2022 to 2029 to identify the prevailing opportunities in the Security Intelligence market during the forecast period. PORTER's five forces analysis shows the ability of buyers and suppliers to make profit-oriented strategic decisions and build their supplier-buyer network. In-depth analysis, as well as the market size and segmentation, assist in determining the current Security Intelligence market potential. Some factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report presents a comprehensive analysis of the global Security Intelligence market to the stakeholders who want to invest in this market. The report includes past and current scenarios of the Security Intelligence market with the forecasted market size with the analysis of complex data in simple language. The report covers all the aspects of the market with a thorough study of key players that include market leaders, followers, and new entrants.

The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the internal or local market make the report investor’s guide.

They are continuously strategizing on mergers & acquisitions for the expansion of their market share and growth opportunities during the forecast period. The study gives insight into the growth dynamics of the Security Intelligence market in regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America.

Research Methodology:

The research study is provided by using an in-depth analysis of the market insights, facts, historical data, and industry-validated market statistics. These estimates are based on an appropriate set of assumptions and methodologies. The bottom-up approach has been used to collect the data and analyze the market to figure out the market size by volume and value by mentioned segments. Major Key Players in the Security Intelligence market are identified through secondary research and their market revenues are determined through a study of the top manufacturers' annual and financial reports, interviews with company key persons, and industry professionals such as experienced front-line staff, CEOs, and marketing executives.

By understanding the scope of the market our analyst has segmented the market based on the Deployment model, End Users, and region. The growth amongst these segments will help to analyze the industries and provide the users with a valuable market overview and market insights to make strategic decisions for identifying core market applications.
Security Intelligence Market Dynamics:
Security Intelligence takes Place in Real Time.

For today's technologically advanced IT firms, real-time monitoring is an essential element of gathering security intelligence.IT businesses are acquiring security intelligence in real-time using technology solutions such as SIEM software. This system detects, investigates, and resolves security incidents and threats using a single, scalable SIEM solution. Both cloud deployment approaches and the use of managed security services for SIEM have grown dramatically. The number of people choosing a cloud solution increased by 38% in 2022 compared to 2021. SIEM deployments are industrial applications that have required an organization to invest in software. Organizations are investing in security intelligence not only for operational, performance, and system integrity reasons but to keep it up to date with trends in the field. Cloud deployment relieves organizations' burdens.

Exponential Rise and Sophistication of Cyber Attacks

Cybercrime has been on the rise for years and shows no signs of a slowdown. With the ongoing outbreak, there has been an increase in remote working conditions as well as an increase in the number of cyber-attacks. Enterprises are adopting work-from-home models which is an increasing problem for organizational security. Channel Nine, Harris Federation, CAN Financial, Florida Water System, Microsoft Exchange, Bombardier, Acer, and Sierra Wireless are among the organizations that have been targeted by massive cyber-attacks in 2022.

Every 10 seconds, a new organization becomes a victim of cyberattacks. With the introduction of cloud computing, the area of cybersecurity and security intelligence has extended from a single network to a distributed network to manage enterprises more effectively. Thus Security intelligence assists organizations by evaluating global cyber-attack and provides insights when any cyber-attacks happen.

IoT Integration Improving Security Intelligence Solution.

With the development of the Internet of Things (IoT), practically everything is now connected to the internet. The security landscape is continuously changing as new attacks continue to target business networks and IoT devices. IoT users and software designers are using a wide range of existing and future technological solutions to address the cyber-attack risk associated with their IoT devices. Developers of these solutions are taking the lead in making their devices and solutions as secure as feasible to create a more secure and safe IoT environment. Key players are using the latest technology in machine learning and big data analytics to support security intelligence gathering efforts. IT security analysts are adopting LogReduce® pattern analysis to quickly and accurately detect unusual behavior on the network.

R&D investments by governments and organizations to develop robust security intelligence solutions for the protection of critical infrastructure

Governments and private companies are investing in R&D to bring advanced threat intelligence solutions to the market all over the world. The Critical Infrastructure Security and Resilience (CISR) R&D strategy covers increasing the security of critical infrastructure of communities such as critical infrastructure owners and operators, government and commercial organizations, and international partners. The CISR R&D develops action plans to implement critical infrastructure solutions for enhancing country resilience at the local, regional, and national levels. The European Reference Network for Critical Infrastructure Protection (ERNCIP) in collaboration with the Joint Research Centre (JRC)has produced tools, methodologies, and scientific publications to secure critical infrastructures against threats and breaches.

Regulatory and Standards Compliance

Regulatory compliance is a key driver for the adoption of IT security intelligence for organizations covered by HIPAA, and PCI DDS. As per rule, every IT organization has to comply with the ISO 27001 standard. Security intelligence tools collect, standardize and analyze log data and can help IT organizations demonstrate compliance with a specified security standard.

Market Restraint:

High procurement costs and lack of trained security analysts to analyze security intelligence systems

Investments in security intelligence systems are critical for a country's overall economic stability. Implementing security intelligence systems necessitates company-wide coverage for efficient and secure operations, raising infrastructure expenses. security intelligence solutions tend to be a costly option for many organizations. Current security intelligence requirements necessitate robust multi-factor authentication to ensure that only authorized persons have physical and logical access to key assets. Furthermore, the most significant barrier to protecting industrial infrastructure is a lack of security personnel. Industrial infrastructures are driven by security intelligence computer systems, which require the use of qualified cybersecurity personnel to safeguard large networks.
Security Intelligence Market Segment Analysis:
By the Deployment model, the Cloud-Based security intelligence solutions are expected to contribute a maximum revenue share of more than 63.5% in 2022 and are expected to highest CAGR of 16 % during the forecast period. The use of cloud-based security is expected to rise throughout the forecast period due to the growing popularity of cloud storage solutions. The cloud-based security intelligence deployment prevents excess traffic from entering the network.

Businesses may reduce their attack surface by preventing cyber-attacks and eventually stop them before they occur by integrating cloud with threat intelligence. As a result, the usage Cloud-Based security intelligence has skyrocketed in recent years.

By End Users, The BFSI segment is expected to grow at a CAGR of 13.6% over the forecast period and create an incremental opportunity of around US$ 2.8 Bn by 2029. Security intelligence helps BFSI industries to enhance current capabilities, ensure fresh intelligence, and improve internal audience centricity. The demand for threat intelligence systems in retail sectors is increasing due to increased network complexity and many modifications in network infrastructure. The retail sector segment is expected to see rapid development in the near future, as it helps enterprises in the identification of cybersecurity incidents.

Advances in the banking sector such as e-banking, mobile banking, and ATMs are expected to raise security vulnerabilities. Furthermore, higher compliance and regulations are expected to increase demand for Security Intelligence during the forecast period.

Security intelligence in the healthcare sector is expected to grow at a high rate throughout the forecast period. Insurance companies have been identified as the primary target of cyberattacks such as spear phishing and Advanced Persistent Threats (APT). The increasing number of breaches in this sector creates more opportunities for cybersecurity specialists to provide a comprehensive solution to Security Intelligence in institutions.
Security Intelligence Market Regional Insights
The Asia Pacific Security Intelligence Market is expected to be the fastest-growing region during the forecast period. Large enterprises and many SMEs in China, Japan, and India have been investing in security systems as a result of the growing major challenges of data theft and increased cyber-attacks. The rising number of cyber-crime activities in software applications, growing demand for mobile and online applications, and rising government & legislative by-laws are expected to fuel market growth in Asia-Pacific.

The Security Intelligence market in India is anticipated to be valued at around US$ 2.1 Bn by 2029. Furthermore, the Indian government is working hard to develop a strict structure to deal with future cyber threats. Along with expenditures on research and development, governments are appointing chief information security officers to identify and record the security requirements that arise with each technological advance.

The United States is expected to be one of the most profitable markets for Security Intelligence over the forecast period. There is widespread adoption of threat intelligence solutions in the country due to the existence of a large number of US-based users and prominent companies in the Security Intelligence market. Large firms in the United States have a distinct set of cybersecurity challenges from small and medium-sized businesses. SMEs lack several fundamental cyber infrastructures required for secure operations, but large enterprises have vital infrastructures and require skilled and managed security services. These variables will be responsible for considerable development in the next years.
Security Intelligence Market Scope: Inquiry Before Buying



Global Security Intelligence Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 12.38 Bn.


Forecast Period 2023 to 2029 CAGR:
6.8 %
Market Size in 2029:
US $ 19.63 Bn.


 Segments Covered:
by Deployment model
On-premises
Cloud-based


by End Users
Government and defense
BFSI
IT and telecom
Healthcare
Retail
Transportation
Energy and utilities
Manufacturing
Education
Others



Security Intelligence Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Security Intelligence Market, Key Players are
1. Symantec Corporation
2. International Business Machines Corporation
3. FireEye, Inc.
4. Check Point Software Technologies Ltd
5. Trend Micro Inc
6. Dell Technologies
7. AT&T Cybersecurity
8. Webroot Inc
9. Digital Shadows Ltd.
10. Optiv Security, Inc
11. ThreatConnect
12. CrowdStrike, Inc
13. McAfee, LLC
14. LogRhythm, Inc
15. Kaspersky Lab.
16. SecureWorks
17. AlienVault
18. Cisco
19. VMware
20. DXC Technology
21. Mimecast
22. Infosys
23. Verizon
24. Proofpoint
25. CrowdStrike

FAQs:

1. Which is the potential market for Security Intelligence in terms of the region?
Ans. In the Asia Pacific region, The rising number of cyber-crime activities in software applications, growing demand for mobile and online applications, and rising government & legislative by-laws are expected to drive the market.

2. What is expected to drive the growth of the Security Intelligence market in the forecast period?
Ans. R&D investments by governments and organizations to develop robust security intelligence solutions for the protection of critical infrastructure are factors resulting in increasing demand for Security Intelligence during the forecast period.

3. What is the projected market size & growth rate of the Security Intelligence Market?
Ans. The Global Security Intelligence Market accounted for $ 12.3 billion in 2022 and is expected to reach $ 19.63 billion by 2029 at a CAGR of 6.8 % during the forecast period.

4. What segments are covered in the Security Intelligence Market report?
Ans. The segments covered are the Deployment model, End Users, and Region.