Market Overview:

The Security Intelligence Market size is projected to reach $17.43 Bn by 2030, Compound Annual Growth Rate (CAGR) of 6.50% during the forecast period (2022-2030).

Security is a collection of cyber security measures that protect company assets such as computers, networks, and data against illegal access. It covers many IT security topics, including network, internet, endpoint, cloud, user, and application security. It protects the integrity and confidentiality of sensitive data by preventing hackers from accessing it. As a result, it is critical in today’s business strategy, where a flaw can lead to negative results such as theft and a loss of consumer confidence and loyalty.

One of the key causes encouraging firms to install advanced security systems for combating dangerous threats and potential security breaches, which may significantly influence a company’s financial health, is the rise in cybercrime and fraudulent activities. Furthermore, IT security is widely used in the energy industry to address the growing need for reliable power supply worldwide. Aside from that, health care organizations currently rely on specialized information systems, including electronic health records, e-prescribing, practice management assistance, clinical decision support, radiological information, and computerized physician order input.

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This raises the bar for safeguarding electronic data and assets’ confidentiality, integrity, and availability against unlawful access, use, and disclosure boosting the market growth. Furthermore, the expanding use of information and communication technology in the logistics business for transparency, cost-effectiveness, and real-time tracking of commodities is increasing the danger of data theft. This, together with the rising popularity of online shopping applications, is boosting demand for security solutions that can detect possible threats and breaches while protecting suppliers’ and consumers’ personal information.

Market Segmentation:

The global security intelligence market has been segmented into five components: organisation size, deployment, vertical and regional basis. The component section has divided the market into two sections: solution and service. The service section is further subdivided into two parts: managed and professional. The solution is divided into four sections: log management, security information & event management, network forensics, and others. With the organisation size, the market has been classified into two sections small and medium enterprises and large enterprises. By the deployment section, the market has been divided into two parts on-clod and on-premise. According to the vertical section, the security intelligence market is further classified into BFSI, IT and telecommunication, government and defence, manufacturing, healthcare, retail, transportation, and others. With the regional sectors, the global market has been divided into five sections Asia-Pacific, North America, South America, Europe, and Middle East & Africa. 

Regional Insights:

Geographically, the security intelligence market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America holds the largest market share, attributed to the presence of major market players and the high adoption of advanced technologies. However, the Asia-Pacific region is expected to showcase the highest growth rate due to the increasing digitalization and growing awareness about data security.

Industry Latest News:

In recent industry news, IBM has introduced a new cloud-based version of their QRadar Advisor with Watson. This AI-driven security intelligence solution is designed to automate and accelerate threat investigation processes, demonstrating the constant innovation in the market.

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