Dark Web Intelligence Market Expected to Reach $2.30 Billion by 2031—Allied Market Research

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 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, it is critical for businesses to implement multilayer security solutions. Furthermore, robust dark web intelligence is critical in dealing with such issues.

On the basis of enterprise size, the 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 the 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 number of government initiatives through various digital SME campaigns throughout the world fuel the growth of the market.

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.

The dark web intelligence market was valued at $341.70 million in 2022, and is projected to reach $2,300.10 million by 2031, registering a CAGR of 21.3%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The pandemic has caused recessionary economy that has forced various enterprises across the globe to dramatically and rapidly shift their operations. Industries around the globe are being severely affected by the COVID-19-induced recession; however, impact on the technology sector during the crisis was comparatively lesser than the rest of the economy. In addition, lockdowns have encouraged proliferation of emerging technologies, such as dark web intelligence. However, despite the financial fraud and cyber concern during the pandemic around the global, various organizations adopted dark web intelligence solution to tackle various cyber threat and enhance business operations. 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.

KEY FINDINGS OF THE STUDY

• By component, the solution segment dominated the dark web intelligence market in 2021. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of deployment mode, the on-premise segment dominated the Dark web intelligence market in 2021; However, the cloud segment is expected to witness the highest growth rate during the forecast period.
• Depending on organizational size, the large enterprises generated the highest revenue in 2021. However, the SMEs segment is expected to witness the highest growth rate in the near future.
• Depending on industry vertical, the BFSI industry generated the highest revenue in 2021. However, the IT and Telecom industry is expected to witness the highest growth rate in the near future.
• Region-wise, the Dark Web Intelligence Industry market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.

This report gives an in-depth profile of some key market players in the dark web intelligence market, 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 study includes market trends, Dark Web Intelligence Market Analysis, and future estimations to determine the imminent investment pockets.