Cyber Threat Intelligence Providers Position Themselves as SaaS Vendors to Maintain Competitive Advantage
The global CTI market is estimated to reach $981.8 million by 2023, finds Frost & Sullivan
SANTA CLARA, Calif., April 19, 2021 /CNW/ -- As the volume and complexity of attacks increase exponentially, security-conscious organizations bolster cybersecurity spending and look for innovative solutions that enable them to understand and prevent cybercrime. Frost & Sullivan's recent analysis finds that cyber threat intelligence (CTI) is the cornerstone of mature cyber defense programs and a sought-after product category that allows organizations to adapt their security posture to the rapidly evolving threat landscape. CTI is a segment of the threat intelligence services market, which also includes threat intelligence platforms and digital risk protection. The global CTI market is estimated to witness a two-and-a-half-fold growth, reaching $981.8 million by 2023 from $392.2 million in 2020, up at a compound annual growth rate (CAGR) of 35.8%. North America will continue dominating the industry through 2023, followed by Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC).
For further information on this analysis, Cyber Threat Intelligence to Power the Next Generation of Cybersecurity, please visit: http://frost.ly/5ka
"With the growing cost of cybercrime and increasing confrontations between geopolitical rivals in the cyber domain, organizations turn to CTI providers to learn the modus operandi of attackers ad increase their chances of anticipating and preventing damages," said Mikita Hanets, Cybersecurity Research Analyst at Frost & Sullivan. "Customer demand for consolidated solutions that are more affordable and easier to use is encouraging vendors to address several intelligence needs at once. As a result, most vendors aim to provide insights about relevant cyber activity and take a more active role in operationalizing threat intelligence with either homegrown software or partnerships with other security vendors."
Hanets added: "The emergence of the software-as-a-service (SaaS) model presents new opportunities for CTI vendors. A growing number of threat intelligence providers are repositioning themselves as SaaS vendors that support a range of intelligence-related use cases."
Market participants should focus on the following growth opportunities:
Cyber Threat Intelligence to Power the Next Generation of Cybersecurity is the latest addition to Frost & Sullivan's Security research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Cyber Threat Intelligence to Power the Next Generation of Cybersecurity
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SOURCE Frost & Sullivan
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