- Threat intel helps organizations navigate an ever-expanding threat landscape
- TIP market to reach $234.9 million by 2022 from $132.7 million in 2019, for a compound annual growth rate (CAGR) of 21%
- TIP represents one of the niche markets in cybersecurity that will be least affected by COVID-19, Frost & Sullivan analysts forecast
The growing volume and complexities of cyber threats present a compelling case for adopting threat intelligence platforms (TIPs) in the business sector today, according to an analysis by Frost & Sullivan.
Threat intel helps organizations navigate an ever-expanding threat landscape, the think tank notes in a new report. And organizations everywhere are starting to take notice. The market for threat intel is estimated to reach $234.9 million by 2022 from $132.7 million in 2019, for a compound annual growth rate (CAGR) of 21%.
Moreover, TIP represents one of the niche markets in cybersecurity that will be least affected by COVID-19, Frost & Sullivan analysts forecast.
In another key finding, the growing sophistication of attacks and the necessity of threat intelligence for proactive defense spur growth prospects for certain vendors. For example, vendors that develop threat detection and threat hunting capabilities to enable investigations of security incidents stand to benefit greatly, Frost & Sullivan analysts say.
“Threat intelligence is instrumental in securing enterprises because it enables security teams to prevent cyberattacks in real time and identify a breach that might have occurred in the past,” according to the research.
The same can be said of vendors developing or acquiring intelligence-driven vulnerability and risk management technologies. Analysts reason that the ability to assess an organization's exposure and the risk to its data is a key feature of the next generation of cybersecurity solutions.
“The proliferation of TIP use cases indicates the convergence of the TIP space with adjacent markets,” said Mikita Hanets, Information & Communication Technologies Research Analyst at Frost & Sullivan. “Vendors increasingly aim to offer some elements of TIP functionality in security, orchestration, automation, and response (SOAR) and security information and event management (SIEM) platforms and vice versa. Going forward, solutions that enable businesses to operationalize threat-related data and set up workflows for cyber incidents will converge in the next three years.”
“North America will dominate the market and contribute the maximum revenue, followed by Europe, the Middle East and Africa (EMEA), Asia-Pacific and Latin America,” Hanets added. “Technology and telecommunications will be the fastest-growing vertical market for TIP vendors in the next two years, while banking and finance is expected to contribute the most by 2022.”
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