Threat intelligence is used by organizations to understand various threats and risks that might target the welfare of the organization. The information acquired is utilized to prevent, prepare, and identify cyber threats. Moreover, threat intelligence security solutions (TISS) aid organizations in obtaining knowledge about lingering dangers and help to build robust defense mechanisms. Also, once the data is gathered by TISS, it is studied and filtered to yield management reports and threat intel feeds that consist of information utilized by automated security control solutions. TISS aims to keep stakeholders, leaders, and users up to date about the latest risks and repercussions in businesses.
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Market Analysis of Threat Intelligence Security Solutions (TISS)
The global threat intelligence security solutions (TISS) market is anticipated to enhance rapidly in the coming years due to the rise in cyber-security dangers. There is a constant risk of a data breach of well-known businesses, government organizations, and gadgets owned by common people. Further, information is gained by hackers through phishing, inside attacks, and zero-day threats. For example, in March 2021, the Biden administration announced the launch of an emergency task force to tackle a cyber-attack that seemed to have affected thousands of Microsoft customers across the globe. This cyber-strike is expected to impact town governments, credit unions, and small businesses.
Furthermore, in March 2021, an article published on ET Telecom.com stated that India is currently brainstorming new strategies to augment the nation’s cyber-security situation. This took place amid allegations that Chinese encroachments might have impacted electricity supply and stock exchange in the nation’s commercial capitals. These examples indicate the necessity to implement TISS and maintain a secure environment. According to a recent report published by Research Dive, the global threat intelligence security solutions market is anticipated to surge at a CAGR of 7.8% during the 2020-2027 forecasted period. Apart from this, the Asia-Pacific region is estimated to be the investment hub for threat intelligence projects initiated by countries like Australia, India, South Korea, and other nations in the area.
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Recent Developments in the Market
The leading players of the global threat intelligence security solutions (TISS) market are mulling over exclusive strategies such as mergers & acquisitions, new product introductions, making product portfolios, and financing in research & development projects. These strategies are helping the companies in gaining an edge in the global market in recent years.
For instance, in December 2020, Cyware, a prominent provider of cyber fusion solutions and threat intelligence, declared the launch of the CTIX Lite solution. This latest product offers automation capacities, enrichment, and premium threat intelligence feeds on a single platform. Cyware partnered with industry players such as Bambenek, Flashpoint, Comodo, and PolySwarm for this product launch.
In November 2020, Group-IB, a provider of cyber-security and services, introduced the ‘threat intelligence & attribution’ solution. This product is created to customize a cyber-threat map for companies and to correspond to individual cyber-security situations in real-time.
Moreover, in July 2017, Fortinet, a well-established leader in high-performance cyber-security solutions, revealed the FortiGuard threat intelligence service (TIS) that enables CISO (Chief Information Security Officer) to defend enterprises against threats. Furthermore, this product is a cloud-based threat intelligence service that offers activity trends and threat metrics, to grasp all recent happenings in the world.
Covid-19 Impact on the TISS Market
Work from home trends and growing usage of technology in our personal lives are estimated to severely affect the global threat intelligence security solutions (TISS) market during the Covid-19 pandemic. For instance, in March 2021, an article published on ET CIO.com stated that Avast, a cyber-security company, experienced a surge in demand for its cyber-security products in the second quarter of 2020 due to the work-from-home trend. Since cyber-security is a major concern for all companies; they are leveling up their digital transformation during the Covid-19 pandemic.
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Some of the top players operating in the global threat intelligence security solutions industry include IBM corporation, Dell Inc., Fortinet Inc., Webroot Inc., Juniper Networks Inc., McAfee LLC, Symantec Corporation, FireEye Inc., Fortinet Inc., and DXC technology. Investments in research and development by key market players are constantly on the rise due to which the global threat intelligence security solutions (TISS) market is expected to flourish in the forthcoming years. However, the high cost of incorporating cyber-security protection means is likely to hinder the TISS market in the coming years. Furthermore, the need to provide safe and secure devices and encrypt data will encourage all organizations to opt for cyber-security solutions.
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