Dark Web Intelligence Market
The global dark web intelligence market is driven by increased cyber fraud, the emergence of cryptocurrencies, and advancements in cybersecurity.
PORTLAND, PORTLAND, OR, UNITED STATES, April 15, 2024 /EINPresswire.com/ — The dark web intelligence market trends in Asia-Pacific is expected to exhibit the highest growth during the forecast period. Owing to rapid technological advancements, digitization of economies, and government initiatives as well as increased expandable income among the region’s middle-income population are the key factor that powering the overall economy’s growth of Asia-Pacific region. The cyber risk technologies in Asia-Pacific coupled with regulations from various organizations and government bodies to protect from cyber threats, which helps to drive the growth of the market. Furthermore, growing digitalization towards business process, is expected to provide the lucrative growth opportunities for the dark web intelligence market in the Asia-pacific region.
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According to a new report published by Allied Market Research, titled, “Dark Web Intelligence Market,” The dark web intelligence market was valued at $341.70 million in 2021, and is estimated to reach $2.30 billion by 2031, growing at a CAGR of 21.3% from 2022 to 2031.
The “Dark Web Intelligence Market” generally refers to the buying and selling of information, data, and intelligence on the dark web. This can include a wide range of illicit or sensitive information, such as stolen data, hacking tools, malware, financial information, personal records, and more.
The global dark web intelligence market is expected to grow at a high rate due to rise in cyber fraud in recent years. The introduction of crypto currencies, such as Bitcoin and Etherium has boosted the demand for dark web intelligence solutions, as ransoms are paid in crypto currency due to its untraceable nature. Furthermore, technical advancements in the field of cyber-security, antivirus, and malware protection have had an impact on the Dark Web Intelligence Market Size, which is expected to create the need for dark web intelligence solutions for mobile devices. Thus, driving the growth of the market. In addition, industries are shifting businesses over cloud, as the popularity of cloud-based operations is growing significantly. Multiple technologies are publicly available that allow ransomware attackers to locate misconfigured cloud infrastructure on the Internet. As a result, businesses must implement multilayer security solutions. Furthermore, robust dark web intelligence is critical in dealing with such issues.
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Based on enterprise size, large enterprises dominated the overall dark web intelligence industry in 2021 and is expected to continue this trend during the forecast period. There is an increase in the adoption of dark web intelligence in large enterprises to operate a business operation safely and securely. Furthermore, large enterprises are integrating their large volume of data in the cloud to augment their speed, accuracy, and value chain scalability, which is opportunistic for market growth. However, the SME’s is expected to witness the highest dark web intelligence market growth in the upcoming year. The adoption of dark web intelligence is expected to increase to optimize the business capabilities of small & medium-sized enterprises. Moreover, continuous rise in a number of government initiatives through various digital SME campaigns throughout the world fuel the market’s growth.
Based on components, the solution segment held the highest share in 2021, accounting for nearly three-fourths of the global dark web intelligence market, and is expected to continue its leadership status during the forecast period. However, the services segment is expected to register the highest CAGR of 22.7% from 2022 to 2031.
Depending on industry vertical, the BFSI sector dominated the Dark Web Intelligence Market Share in 2021 and is expected to continue this trend during the forecast period. There is a fast acceleration in adoption of dark web intelligence in the BFSI sector. As it is the prime target of any cyber-attack due to an enormous quantity of critical value data (CVD) related to employees and clients. It has become essential for financial institutions to adopt dark web intelligence services to protect their data. However, IT and Telecom sector is expected to witness the highest growth in the Dark Web Intelligence Market Forecast period. The IT and Telecom businesses are moving toward digitization and technology initiatives motivated by the global pandemic, which is expected to provide lucrative growth opportunities for the dark web intelligence market in the upcoming years. Furthermore, powerful analysis tools and capabilities aid security analysts, threat hunters, and IT staff to evaluate and block follow-on attacks much more quickly. Such benefits drive the growth of the market.
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Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the total market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 22.8% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global dark web intelligence industry analyzed in the research include Alert Logic, Blueliv, Carbonite, Inc., DarkOwl, Digital Shadows, Echosec, Enigma, Flashpoint, IntSights, KELA, NICE Actimize, Proofpoint, Inc., Searchlight Security, Sixgill, Terbium Labs, Verisign, and ZeroFox. This report gives an in-depth profile of these key players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Covid-19 Scenario:
• Industries around the globe are severely affected by the outbreak of the COVID-19 pandemic. However, the impact on the technology sector during the crisis was comparatively lesser than the rest of the economy.
• The implementation of the global encouraged usage of emerging technologies such as dark web intelligence. Various organizations adopted dark web intelligence solution to tackle various cyber threats and enhance business operations.
• Increase in variety of cyber frauds such as ransomware attack, financial fraud, and data hacking across industries such as BFSI, healthcare, and government created the demand for dark web intelligence solution to perform contactless operations safely and securely even during the pandemic.
• Furthermore, dark web intelligence enables end-to-end business operation management while improving business agility, streamlining processes, and securing the future of enterprises. For instance, in February 2021, Volante Global, a multi-class and multi-territory international managing general agent (MGA) platform, launched the innovative cyber ransomware solution, Cyber LockoutSM, which combines ransomware insurance cover with the latest cyber security technology. It is designed specifically to greatly reduce an organization’s exposure to malware attacks, including ransomware. Such developments are expected to enhance the growth of the market in the post-pandemic.
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