The Global Insider Threat Protection Market size is expected to reach $12.7 billion by 2030, rising at a market growth of 17.5% CAGR during the forecast period.
The manufacturing sector is growing fastly as the manufactured goods globally, which covers the fourth quarter of 2021, supports the revival of the global economy as well as its manufacturing sector. The sector accounted for $211.9 million revenue of the market in 2022. Production in developing and emerging industrial economies has seen a noteworthy growth of 4.3%, according to the most recent UNIDO World Manufacturing Report released by the United Nations Industrial Development Organization (UNIDO). On the other hand, industrialized economies have been producing at or above pre-pandemic levels since the beginning of 2021, and they are currently experiencing stable annual growth of 3.2%. Manufacturing processes could be severely disrupted by several dangers. These comprise nefarious insider behaviors like fraud, sabotage, workplace violence, theft, etc. Unwitting insiders may unintentionally download malware, accidentally divulge important or proprietary information, or promote other cybersecurity occurrences. Therefore, the manufacturing sector should expedite the deployment of insider threat protection tools.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2021, Cisco took over Kenna Security to transform how security and IT teams work to minimize the attack surface and the time it takes to identify and respond. Moreover, in March, 2021, VMware announced the acquisition of Mesh7 to accelerate the company’s Kubernetes, microservices, and cloud-native capabilities. This technology also enables VMware to bring discovery, visibility, and better security to APIs.
Based on the Analysis presented in the KBV Cardinal matrix, Microsoft Corporation are the forerunners in the Market. In June, 2022, Microsoft completed the acquisition of Miburo, a US-based provider of cyber threat analysis and research services. The addition of Miburo perfectly aligns with Microsoft's aim to take action and partner with others in the private and public sectors to discover long-term solutions. Companies such as Cisco Systems, Inc, Broadcom, Inc. and VMware, Inc. are some of the key innovators in the Market.
Insider threat protection can be implemented due to the deployment of IoT and cloud technologies. The requirement for efficient threat security tools that can identify and safeguard these devices and systems grows as a growing number of businesses migrate their systems as well as applications to cloud services and introduce IoT devices. By making the applications and systems that need to be safeguarded more advanced, cloud and IoT adoption might encourage the use of insider threat prevention solutions. These factors together indicate that the market will expand in the coming years.
Cyberattack threats are increasing, and the monetary impact of cybercrime in the financial services sector is also rising. Although significant cyber-attacks have been on a big scale during the past 15 years, including data theft, intellectual property loss, distributed denial of service (DDoS), and cyber fraud, their impact has increased more quickly than the company's capacity to defend against and recover from them. Normally, businesses concentrate on internal threats, but in the capital markets, insiders are much more inclined to be the source of a cyberattack. Therefore, these factors are propagating the expansion of the market throughout the forecast period.
Ideally, an insider threat prevention technology should be able to handle massive amounts of data arriving from various dispersed sensors (such as PCs, servers, network tools, etc.) within an organization. However, to store, examine, and analyze the collected data for viewing, storage, and analysis, the data must be homogeneous in one area and driven by various operating systems and protocols. As a result, problems with technology, software, and other factors crop up when gathering and interpreting the data on insider threat prevention.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions.
Based on component, the market is segmented into software and services. The software segment garnered the highest revenue share in the market in 2022. The most advanced security capabilities, including behavioral protection, cloud-based endpoint detection, threat awareness and intelligence, and an array of security analytics methods, are offered by insider threat prevention software. Many industries use these tools to minimize information and operational technology attacks. As a result, the segment will grow rapidly in the coming years owing to the greater demand for software.
By organization size, the market is classified into small & medium-sized enterprises and large enterprises. The large enterprise segment witnessed the maximum revenue share in the market in 2022. The employment of cutting-edge technologies exposes large firms to various hazards, including data breaches and hackers. To protect their equipment from cyber threats, large businesses are increasingly implementing insider risk management strategies.
On the basis of deployment mode, the market is fragmented into cloud and on-premise. The on-premise segment recorded a significant revenue share in the market in 2022. Given that they have important databases for business information, many major firms desire full ownership of upgrades and solutions. This enables them to guarantee the highest level of data protection. By offering explicit monitoring as well as data security, the on-premise deployment also lessens reliance on outside companies. The demand for on-premise implementation is anticipated to be driven by enterprises' tendency to keep internal data confidential.
Based on vertical, the market is bifurcated into BFSI, IT & telecom, retail & ecommerce, healthcare & life sciences, manufacturing, government & defense, energy & utilities, and others. The government and defense segment acquired a substantial revenue share in the market in 2022. Privileged access management (PAM) solutions control and manage privileged accounts with elevated access privileges within an organization. In the government and defense sector, PAM tools ensure that only authorized individuals can access sensitive systems, and they monitor privileged account usage to detect any unauthorized activities. Similarly, security information and event management tools can identify patterns or anomalies in log data, generate alerts, and provide real-time visibility into potential insider attacks.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.6 Billion |
| Market size forecast in 2030 | USD 12.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 17.5% from 2023 to 2030 |
| Number of Pages | 281 |
| Number of Table | 463 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Organization size, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered the largest revenue share in the market in 2022. The market in this region is being propelled by the rising use of servers, desktops, and mobile devices; the Bring Your Own Device (BYOD) movement; and the demand for data security. The market in the region is expanding even more due to the widespread use of such devices and the existence of significant insider risk management providers there. Several important industry players are widely present in North America.
Free Valuable Insights: Global Insider Threat Protection Market size to reach USD 12.7 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc, Microsoft Corporation, Broadcom, Inc., VMware, Inc., Citrix Systems, Inc. (Cloud Software Group, Inc.), Kaspersky Lab, Ivanti, Inc. (Clearlake Capital Group, L.P.), Micro Focus International PLC (Open Text Corporation), Zoho Corporation Pvt. Ltd. and McAfee Corp.
By Component
By Vertical
By Organization size
By Deployment Mode
By Geography
This Market size is expected to reach $12.7 billion by 2030.
Increasing frequency of cyber attacks are driving the Market in coming years, however, Inadequacies of organizations in handling massive amounts of data for scrutiny restraints the growth of the Market.
Cisco Systems, Inc, Microsoft Corporation, Broadcom, Inc., VMware, Inc., Citrix Systems, Inc. (Cloud Software Group, Inc.), Kaspersky Lab, Ivanti, Inc. (Clearlake Capital Group, L.P.), Micro Focus International PLC (Open Text Corporation), Zoho Corporation Pvt. Ltd. and McAfee Corp.
The BFSI segment is generating the highest revenue share in the Global Insider Threat Protection Market by Vertical in 2022 thereby, achieving a market value of $2.3 billion by 2030.
The Cloud segment is leading the Global Insider Threat Protection Market by Deployment Mode in 2022 thereby, achieving a market value of $8.4 billion by 2030.
The North America market dominated the Global Insider Threat Protection Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.2 billion by 2030.
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