Threat Hunting Market Worth $6.9B by 2029

PRESS RELEASE

CHICAGO, July 16, 2024 /PRNewswire/ -- The Threat Hunting Market is set to grow significantly. It's expected to be worth around USD 3.4 billion in 2024 and increase to about USD 6.9 billion by 2029 at a CAGR of 14.9% during the forecast period, according to a new report by MarketsandMarkets™. The threat-hunting market is experiencing explosive growth as organizations struggle to combat a relentless wave of cyberattacks. Unlike traditional security measures that passively wait for threats to appear, threat hunting takes a proactive stance, actively searching for hidden threats lurking within networks. Several factors fuel this proactive approach. The increasing need to protect sensitive data, from financial records to intellectual property, compels organizations to adopt more robust security solutions. Also, the growing awareness of cyber risks across industries drives demand for proactive security solutions. By actively hunting for threats, organizations gain a critical advantage: identifying and neutralizing threats before they can wreak havoc, potentially saving millions of dollars, and safeguarding sensitive data.

By Offering, the services segment will grow at the highest CAGR during the forecast period.

The global shortage of cybersecurity professionals is a significant challenge for organizations looking to build robust security postures. This shortage is particularly acute in threat hunting, which requires highly skilled individuals with a deep understanding of cyber threats, investigative techniques, and security tools. Threat-hunting services offer a compelling solution by providing access to experienced professionals, reducing internal workload, and offering a faster path to improved threat detection and response capabilities.

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By organization size, the large enterprise segment to hold a significant market share during the forecast period.

Large enterprises often deal with sensitive data (financial records, intellectual property, customer information) and critical infrastructure. A successful cyberattack can have devastating economic and reputational consequences, making proactive threat detection a top priority. Also, Large enterprises typically have sprawling IT environments encompassing on-premise infrastructure, cloud deployments, and a vast network of devices. This complexity creates numerous potential entry points for attackers, necessitating a proactive approach to uncover hidden threats. The high stakes, complex environments, compliance pressures, and advanced threats large enterprises face will drive the segment.

By region, Asia Pacific will grow at the highest CAGR during the forecast period.

The Asia Pacific region is undergoing significant growth in its threat-hunting market, driven by several key factors. The region faces a rising tide of cyberattacks, including malware, ransomware phishing attempts, data breaches, and advanced persistent threats (APTs). These attacks target businesses, governments, critical infrastructure, and individuals, forcing them to invest in proactive defense measures like threat hunting. The Asia Pacific region is undergoing a rapid digital transformation. This increased reliance on technology creates a larger attack surface for cybercriminals. As per the Fortinet Survey on the State of Security Operations in Asia-Pacific, Phishing and Insider threats are India's most predominant cyber threats, with Approximately 50% of organizations ranking them as their top concerns. Also, only 44% of businesses have dedicated IT resources for security teams.

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Top Key Companies in Threat Hunting Market:

Major vendors in the global Threat Hunting Market include IBM(US), Kaspersky (Russia), Capgemini (France), CrowdStrike(US), Trustwave(US), Verizon (US), SecureWorks(US), Sangfor (China), Eviden (France), Rapid 7(US), VMware (US), Solidworks (US), Trend Micro (Japan), Cynet (US), Palo Alto Networks (US) Cipher (India), Talatek (US), SOC Prime (US), RSI Security (US), Protected Harbour (US), Mindpoint Group (US), Exponential- E (UK), Redscan (UK), Iron Net Cybersecurity (US), LiveAction (US).

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