A new report has found that the Threat Intelligence Market is expected to surpass $13 billion by 2025.
Market research company, Global Market Insights Inc, who carried out the report, say that the prediction is down to the rise in the number of connected end point users expected to rise from the current 3 billion to 50 billion by next year.
It’s suggested that these end point users are being exploited by cybercriminals to impose vicious malware.
Why threat intelligence is needed
Threat intelligence solutions ultimately step in when suspicious activity is detected from cybercriminals online to safeguard networks from unauthorised access.
Hackers are also developing applications that can be used to hijack devices that end users connect to the internet, which they then use to manipulate the network.
Many sectors are now experiencing an influx of cyber-attacks due to the advancement of technology and using inadequate protection.
The government’s input
However, authorities are now changing their focus and are trying to issue higher levels of defence to try and deflect the rise of cyber-attacks on organisations. For example, enforcing GDPR and the CISPA (Cyber Intelligence Sharing and Protection Act) into companies.
This further reminds software and cyber companies of the importance of online protection which has initiated the growth in the threat intelligence market.
Global Market Insights speaks of how with the rise of software such as cloud, IoT and BYOD, organisations need to be more wary of the people they hire who could be hacking from the inside. They say the same applies to those companies that integrate DevOps practices, like agile, into their companies
It was also suggested that due to its nature, cloud threat intelligence will have very high growth.
The report says, “The emergence of digital technologies has encouraged enterprises to build data-driven business models, making the business more agile, flexible, and scalable. However, this exposes organizations to insider attacks and privacy threats. This is encouraging enterprises to adopt IAM solutions to reduce the risks associated with advanced technologies.”
“The incident forensics threat intelligence market is predicted to attain a CAGR of over 15% over the forecast time period. The rising adoption of incident forensics among SMEs is driving its growth. The incident forensics solutions provide an inexpensive alternative to small enterprises with budgetary constraints to implement threat intelligence solutions,” the report continues.
Threat intelligence and healthcare
Researchers behind the study also comment on the high levels of defense needed for the health care industry who have already faced a number of cybersecurity attacks. They say this industry also needs a high level of cyber protection due to detailed patient data.