A new MarketsandMarkets report predicts that the global threat intelligence security market will climb in value at a compound annual growth rate of 14.3 percent from $3 billion in 2015 to $5.9 billion in 2020.
The market research firm said Wednesday the projected growth is due to the increasing number of cyber attacks and the corresponding rise in demand among enterprises for security solutions with prediction and real-time response functions.
According to MarketsandMarkets, the emergence of bring-your-own-device practices at companies also influenced the security needs of businesses.
North America is also expected to see the highest spending and adoption of threat intelligence security solutions, the company added.
The report identified the following key vendors in the threat intelligence security market:
- Dell SecureWorks
- McAfee (Intel Security)
- Trend Micro