Threat Hunting Market Size is valued at USD 3.1 billion in 2023 and is predicted to reach USD 8.5 billion by the year 2031 at a 13.7% CAGR during the forecast period for 2024-2031.
Threat hunting is the process by which professionals actively search a network for indicators of criminal activity or security vulnerabilities. Unlike reactive responses, it entails personally spotting and reducing such hazards before they become damaging. The growing complexity of cyberattacks, marked by advanced and relentless threats, is driving companies to implement proactive threat-hunting techniques. Continuous monitoring and better detection are crucial because conventional security measures usually fail against these changing hazards. Strong regulatory compliance rules for data security and protection also force businesses to apply thorough threat-hunting techniques to protect private information.
Moreover, growing knowledge of cybersecurity threats motivates companies to invest in proactive threat management, especially as digital transformation quickens. The broad acceptance of IoT devices and cloud services will raise the attack surface and the demand for a threat-hunting market in the coming years.
However, the high cost of developing a threat-hunting sector is a significant market constraint. A need for more expertise and rising security issues further hinders market growth. The COVID-19 epidemic sped up the threat-hunting market as remote work raised cyber dangers. Cyberattacks surged through companies, which created a greater need for proactive threat hunting. In addition, there is rising acceptance of IoT devices and cloud services, rising government incentives, and more investment in the hunting market.
Competitive Landscape
Some Major Key Players In The Threat Hunting Market:
- IBM
- Kaspersky
- Capgemini
- CrowdStrike
- Trustwave
- Verizon
- SecureWorks
- Sangfor
- Eviden
- Rapid 7
- VMware
- Solidworks
- Trend Micro
- Cynet
- Palo Alto Networks
- Cipher
- Talatek
- SOC Prime
- RSI Security
- Protected Harbour
- Mindpoint Group
- Exponential- E
- Redscan
- Iron Net Cybersecurity
- LiveAction
- Other Market Players
Market Segmentation:
The threat-hunting market is segmented based on offering, threat type, deployment mode, verticals and organization size. Based on the offering, the market is segmented into tools and services. The market is segmented by threat type into advanced persistent threats (APTs), malware and ransomware, insider threats, phishing and social engineering, and others. The deployment mode segment is again segmented into cloud and on-premises. The market is segmented by organisation size into large enterprises, and SMEs. According to the verticals segment, the market comprises BFSI, IT and ITeS, government, energy and utilities, manufacturing, healthcare, retail, and others.
Based On The Offering, The Services Segment Is Accounted As A Major Contributor To The Threat-Hunting Market
Services are expected to dominate the threat-hunting market in 2023. The increasing reliance on expert-managed services for proactive threat detection, due to the scarcity of qualified cybersecurity experts and the need for cutting-edge resources, is a major driver of this trend. Businesses are turning to specialist service providers for constant monitoring and quick response to the growing cyber threats, further boosting the market growth.
BFSI Segment To Witness Growth At A Rapid Rate
The BFSI segment is witnessing rapid growth in the threat-hunting market. This is largely due to the sector's vulnerability to advanced cyberattacks, given the sensitivity of financial data. To proactively detect and mitigate these threats, BFSI firms are increasingly adopting threat-hunting solutions. This trend is further fueled by regulatory requirements for increased security measures and the need to secure consumer information and financial assets, particularly in countries like the US, Germany, the UK, China, and India.
The North American Threat-Hunting Market Holds A Significant Revenue Share In The Region.
The North American threat-hunting market is expected to report the largest market revenue share shortly. This can be attributed to the region's emphasis on cybersecurity, its strong technological infrastructure, the high frequency of complex cyberattacks, and the many cybersecurity-focused firms there. In addition, Asia Pacific is projected to grow rapidly in the threat-hunting market because of increasing government initiatives to fortify digital defences, stringent data protection regulations, and a growing awareness of cybersecurity risks, contributing to the market's expansion in Asia-Pacific.
Recent Developments:
- In July 2024, Cloudflare and CrowdStrike deepened their strategic alliance, integrating their platforms to halt massive breaches, speed up the transformation of security operations centres, and improve device-to-network security.
- In June 2024, CrowdStrike and Google Cloud announced that they were reinforcing their strategic alliance. Through this long-term collaboration, Mandiant can offer Incident Response (IR) & Managed Detection and Response (MDR) services that leverage the CrowdStrike Falcon and Google Cloud Security Operations platforms. The relationship also centres on CrowdStrike’s EDR, ITDR, and Exposure Management products, which are among the best in the Industry.
Threat Hunting Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.1 Bn |
|
Revenue Forecast In 2031 |
USD 8.5 Bn |
|
Growth Rate CAGR |
CAGR of 13.7% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Offering, Threat Type, Deployment Mode, Organization Size and By Vertical |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
IBM, Kaspersky, Capgemin, CrowdStrik, Trustwave, Verizon, SecureWork, Sangfor, Evide, Rapid 7, VMware, Solidworks, Trend Micro, Cynet, and Palo Alto Networks. And Other Market Players |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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