Page 223 - Cyber Defense eMagazine June 2024

Incident Response and Mitigation - Threat intelligence offers important insights that speed up
incident reaction and mitigation actions in the case of a security incident or breach. Organizations
can rapidly evaluate the extent and gravity of an assault, pinpoint the tactics, methods, and
procedures (TTPs) employed by adversaries, and execute focused remedial actions to eliminate
the threat by integrating incident data with threat intelligence feeds.

Regulatory Compliance - An organization's ability to comply with industry rules and data protection
legislation is greatly aided by threat intelligence. Organizations can meet the strict criteria of
industry standards bodies and regulatory agencies by demonstrating due diligence in recognizing
and mitigating cyber threats through the integration of threat information into their security
frameworks.

The Market Landscape

The Industry for threat intelligence is expected to reach USD 55 billion by the end of 2035, and it continues
to grow at a constant 16% compound annual growth rate over the past several years. The threat
intelligence industry was estimated at $11 billion by 2022. To prevent a growing number of cyber attacks
on all levels, threat intelligence is mainly used. It was estimated that each day around 2,220 cyberattacks
happen, equating to over 800,000 attacks each year.

In view of the increasing cyber conflict among attackers and defenders, most organizations focus on the
integration of threat intelligence and other cybersecurity measures. Consequently, enterprises are
encouraged to make quicker and more effective security options and to work against breaches, given the
deployment of threat intelligence.

Driving Forces Behind Market Growth

o Growing penetration of Internet Services – Global digitization has led to the development of
Internet services which increases the chance of cyber threats. Thus, secure control systems such
as threat intelligence are being deployed in the industries. As of January 2023, there were almost
5 billion internet users worldwide.
o Surging Data Breaches & Cloud Threats – The emergence of digital technologies has increased
cloud threats and data breaches which subsequently require threat intelligence for the fight
against data theft. In 45% of cases, the breach is cloud-based. A recent poll found that 27% of
enterprises had encountered a public cloud security event, an increase of 10% from the previous
year, and that 80% of businesses had experienced at least one cloud security incident in the
year,2023.
o Accretion of Industrial systems & digital technologies – The rapidly evolving technological
landscape is causing a global transition in a number of industry verticals. Industrial transformation
and the development of digital technologies have accelerated as a result. As a result, industrial
systems and digital technologies have combined to form a unified ecosystem. This presents
profitable potential for IIoT and M2M communication technology.

Cyber Defense eMagazine – June 2024 Edition 223
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