Threat Hunting Market

[350 Pages Report] The global 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. As organizations are increasingly moving business to the cloud, adversaries are advancing their capabilities to exploit the vulnerability in the cloud. Also, The rise of generative AI has the potential to lower the barrier of entry for low-skilled adversaries, making it easier to launch more sophisticated attacks. The movement towards cloud computing and the advancement of generative AI technologies represent transformative forces in the threat-hunting market. By embracing these trends, organizations can enhance their cybersecurity posture, mitigate risks associated with cloud adoption, and proactively leverage AI-driven insights to defend against evolving cyber threats.

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Threat Hunting Market Dynamics

Driver: The rise and the speed in the ferocity of cyberattacks

The rapid rise in the frequency and intensity of cyberattacks globally has become a compelling market driver for the threat-hunting industry. Adversaries are increasingly sophisticated, leveraging advanced techniques such as ransomware, supply chain attacks, and zero-day exploits to infiltrate networks and compromise data. The speed at which these attacks unfold, from initial breach to lateral movement and data exfiltration, has shortened significantly, outpacing traditional security measures and necessitating a proactive approach to threat detection and mitigation. Threat hunting plays a pivotal role in this landscape by enabling organizations to actively search for and identify signs of compromise that may evade automated security tools. By leveraging advanced analytics, AI-driven algorithms, and threat intelligence, threat hunters can detect anomalies, uncover hidden threats, and respond swiftly to mitigate potential damage. As cyber threats evolve in complexity and scale, the demand for robust threat-hunting solutions is poised to grow, driving innovation and investment in cybersecurity technologies tailored to anticipate, detect, and neutralize emerging threats effectively.

Restraint: Budget constraints and return on investments

Budget constraints and the need to demonstrate return on investment (ROI) present significant market restraints for the threat-hunting industry. Effective threat-hunting programs require substantial investments in specialized tools, technologies, skilled personnel, and ongoing training. Many organizations, especially small and medium-sized enterprises (SMEs), may need help to allocate sufficient resources to these initiatives amidst competing priorities. Additionally, quantifying the ROI of threat hunting can be challenging as it involves measuring the value of proactive threat detection and mitigation in terms of avoided breaches and operational disruptions rather than tangible cost savings or revenue generation. This ambiguity can deter organizations from making initial investments or expanding threat-hunting capabilities.

Moreover, the complexity of calculating ROI varies depending on organizational size, industry sector, and existing cybersecurity maturity. To address these challenges, threat-hunting providers must demonstrate clear value propositions, showcase successful case studies, and educate stakeholders about the long-term benefits of proactive threat management. Efforts to streamline costs, such as leveraging cloud-based threat-hunting solutions or managed security services, can also help mitigate budget constraints and enhance the attractiveness of threat-hunting investments despite initial financial outlay concerns.

Opportunity: The rise of generative AI leading to AI-based threat-hunting tools

AI-based threat-hunting tools represent a significant market opportunity within the threat-hunting industry. These tools leverage artificial intelligence, machine learning, and advanced analytics to enhance cybersecurity teams' detection and response capabilities. AI excels in analyzing vast amounts of data in real-time, identifying patterns, anomalies, and indicators of compromise (IOCs) that may indicate potential threats or ongoing attacks. By automating security data analysis and augmenting human decision-making processes, AI-based threat-hunting tools enable organizations to detect and respond to threats more swiftly and effectively than traditional methods. This proactive approach helps mitigate the risks posed by increasingly sophisticated cyber threats, such as malware, ransomware, and insider threats, before they can cause significant harm. The growing adoption of AI in threat hunting reflects a strategic shift towards proactive cybersecurity strategies that prioritize early threat detection and rapid incident response, thereby bolstering overall cyber resilience. As AI technology continues to evolve, offering greater accuracy and efficiency in threat detection, the market for AI-based threat-hunting tools is expected to expand, driven by the increasing demand for scalable and advanced cybersecurity solutions across diverse industries and sectors.

Challenges: False positives and the presence of unknown assets

False positives and unknown assets present significant challenges for the threat-hunting market. False positives occur when security tools mistakenly flag legitimate activities as potential threats, leading to wasted time and resources investigating non-existent issues. This strains cybersecurity teams and hampers their ability to focus on genuine threats that require immediate attention. Addressing false positives requires refining detection algorithms, enhancing data correlation capabilities, and integrating threat intelligence effectively to reduce noise and prioritize actionable alerts. Also, the challenge of unknown assets complicates threat-hunting efforts. These assets, which include shadow IT, unmanaged devices, and legacy systems, often operate outside traditional security frameworks, making them vulnerable to exploitation by adversaries. Their presence increases the attack surface and creates blind spots in security monitoring, making organizations susceptible to undetected threats.

Threat Hunting Market Ecosystem

By vertical, the BFSI segment is to account for a larger market size during the forecast period.

The BFSI (Banking, Financial Services, and Insurance) segment in the threat-hunting market is critical to data security and regulatory compliance. Regulatory frameworks such as GDPR, PCI-DSS, and industry-specific regulations impose stringent requirements on data protection and cybersecurity practices within BFSI organizations. As the BFSI sector continues to digitize and face increasingly sophisticated threats, the demand for robust threat-hunting solutions is expected to grow, driving innovation and investment in cybersecurity technologies tailored to meet the unique challenges of financial services and insurance industries.

By tools, the EDR segment accounts for a larger market size during the forecast period

The threat-hunting market, segmented by tools, Endpoint Detection and Response (EDR), holds the highest market share and represents a critical component of modern cybersecurity strategies. EDR tools are designed to monitor and respond to suspicious activities and threats on endpoints such as desktops, laptops, servers, and mobile devices. They provide granular visibility into endpoint activities, enabling security teams to detect and investigate potential threats in real-time. As organizations prioritize endpoint security amidst evolving cyber threats and regulatory pressures, the demand for EDR solutions is expected to grow, driving innovation and investment in endpoint-centric threat-hunting technologies.

By deployment mode, the cloud segment holds the highest market share during the forecast period.

Among the various deployment modes in the threat-hunting market, cloud-based deployment holds the highest market share and presents a compelling opportunity for growth. Cloud deployment offers numerous advantages, including scalability, flexibility, and cost-efficiency, which are particularly appealing to organizations seeking to enhance their cybersecurity capabilities without heavy upfront investments in infrastructure.

By region, North America will have the largest market size during the forecast period.

The North American region represents a robust and dynamic market for threat hunting, characterized by its advanced cybersecurity landscape, stringent regulatory environment, and high concentration of industries vulnerable to cyber threats. With the United States and Canada leading in digital transformation across sectors such as finance, healthcare, government, and technology, the need for proactive threat detection and response capabilities has never been more critical. The region faces persistent and evolving cyber threats, including ransomware attacks, data breaches, and sophisticated nation-state threats. These threats target sensitive data, intellectual property, and critical infrastructure, necessitating advanced cybersecurity measures to safeguard against potential disruptions and financial losses.

Key Market Players

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)  are some of the key players operating in the global threat hunting market.

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Scope of the Report

The study categorizes the Threat hunting market by Type, Component, Organization size, deployment mode, vertical, and region.

By Offering

• Tools
  • EDR
  • SEIM
  • NDR
  • Threat Intelligence platform
  • Others
• Services
  • Professional Services
  • Managed Services

By Threat Type

• Advanced Persistent Threats (APTs)
• Malware and Ransomware
• Insider Threats
• Phishing and Social Engineering
• Others (DDoS, Zero-Day Exploits)

By Deployment Mode

• Cloud
• On-Premises

By Organization Size

• Large Enterprises
• SMEs
• Vertical
• BFSI
• IT and ITeS
• Government
• Energy and Utilities
• Manufacturing
• Healthcare
• Retail
• Others Verticals

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Recent Development

• In May 2024, CrowdStrike launched an advanced SIEM to power the AI-native SOC at RSAC 2024. This approach to AI as part of next-gen SIEM is to automate data parsing and normalization, enrich data to identify better and prioritize threats, and support advanced threat detection and automated response mechanisms.
• In May 2024, Palo Alto Networks and IBM partnered to offer internal security solutions; Palo Alto Networks will be IBM's preferred cybersecurity partner across network, cloud, and SOC. In its expanded portfolio, IBM will bolster its leading security services to drive significant cybersecurity and AI security business book featuring Palo Alto Networks platforms.
• In April 2023, IBM launched the New QRadar Security Suite to Speed up Threat Detection and Response; delivered as a service, the IBM Security QRadar Suite is built on an open foundation and explicitly designed for the demands of the hybrid cloud. The QRadar Suite culminates years of IBM investment, acquisitions, and threat detection and response innovations.
• In January 2023, Trustwave, a leading cybersecurity and managed security services provider, relaunched its Advanced Continual Threat Hunting platform with a unique, patent-pending methodology that enables its elite SpiderLabs threat-hunting teams to conduct significantly more human-led threat hunts.

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