Global Threat Intelligence Security Services Market - Segmented by Type of Service (Managed Services, Professional Services), by Type of Deployment (On-Premise, Cloud-based), Organization Size (Large Enterprises, Small & Medium Enterprises (SMEs)), End-user Vertical (BFSI, Government, Retail), and Region - Growth, Trends, and Forecast (2018 - 2023)
Threat intelligence security services market is expected to reach USD 11.04 billion in 2023 from USD 3.93 billion in 2017, registering a CAGR of 18.9%, during the forecast period (2018 - 2023). The scope of the report is limited to the type of services offered, the type of deployment method, the organizations size and various end-user verticals. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Threat Intelligence complements threat assessment and detects, analyzes, and does predictive remediation of various cyber security threats. The market is being driven by rapid adoption of Bring-Your-Own-Device (BYOD), increasing cyber security concerns and various other factors.
Rapid Adoption of Bring-Your-Own-Device (BYOD)
The BYOD concept is gaining momentum among companies. As per survey by Trackvia, 53% of the organizations have rolled out BYOD concept and 80% of the employees are using personal gadgets for business purpose. Cisco also stated that 69% of IT decision makers favor BYOD in their workplace. Moreover, BYOD enables an employee to save 58 minutes each day, and increase productivity by 34%. But, increasing BYOD concept will also increase cyber threats and thus, bolstering the threat intelligence security services market.
Asia Pacific to Have the Highest Growth Rate
Asia Pacific (APAC) is expected to drive the threat intelligence security services market. Emerging economies in APAC, such as China, Japan, and India are deploying threat intelligence security services rapidly. APAC region houses immense number of SMEs and SMEs are deploying threat intelligence services owing to increasing incidences of cyber-attacks. Moreover, large organizations are also deploying such services to combat cyber-attacks.
Key Developments In The Market