The global threat-hunting market revenue totalled USD 2,395.0 million in 2023. However, with the rising adoption of advanced cyber-security software and services across various industries, the overall market is expected to grow at a staggering CAGR of 18.6% between 2023 and 2033, reaching a valuation of around USD 13,224.2 million by 2033.
Currently, the threat-hunting market accounts for around 15.0% of the global threat intelligence market. Rising focus on improving safety across industries like BFSI, telecom & IT, healthcare, and manufacturing is a key factor driving demand for threat-hunting solutions in the market.
Cyber threat hunting is exactly opposite to traditional threat management measures like intrusion detection systems (IDS), firewalls, security information, and event management (SIEM) systems, and malware sandbox (computer security) which specifically involve an assessment of evidence-based data after a warning of a potential threat to organizations.
Threat-hunting software such as endpoint detection & response (EDR), network threat analytics, and others help enterprises protect their systems from misuse or unauthorized access.
The adoption of this advanced security tool enables businesses to proactively search through networks for detecting and isolating advanced threats that evade existing security solutions.
MSPs (Managed Service Providers) have unique advantages in threat hunting. Managed security services and managed detection and response (MDR) offer a wide range of security services, including vulnerability scanning, security monitoring, investigation, digital forensics, and incident response (DFIR).
However, as the customers of these organizations become more security savvy, they are consistently demanding more advanced security services to ensure they are as protected as possible.
Threat hunting is one of these critical advanced security services. While MSSP and MDR organizations may encounter certain specific threat-hunting issues, their business model provides them with distinct benefits that can enable more effective and efficient threat-hunting.
| Attribute | Key Statistics |
|---|---|
| Threat Hunting Market Estimated Size (2023) | USD 2,047.0 Million |
| Projected Market Valuation (2033) | USD 13,224.2 million |
| Value-based CAGR (2023 to 2033) | 18.6% |
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The threat-hunting market is anticipated to grow at 18.6% CAGR between 2023 and 2033 in comparison to the 13.4% CAGR registered between 2018 and 2022. This is attributable to the rising adoption of threat-hunting solutions as well as services among small and mid-sized enterprises (SMEs) as well as large enterprises across the globe.
Cyber hunting is an approach to internet security in which threat hunters look for security risks hidden within a concealed company’s network. The global market is anticipated to witness an increase in revenue from USD 2,047.0 Million in 2023 to USD 13,224.2 million by 2033.
By enterprise size, the SME segment is expected to grow at the highest CAGR of 20.7% during the forecasted period. Moreover, by solution segment, the services segment is expected to grow at the highest CAGR of 19.8% from 2023 to 2033.
Regionally, North America is expected to dominate the global threat-hunting market, reaching a market valuation of around USD 2,969.2 Million by 2033. South Asia & Pacific market on the other hand is anticipated to grow at the highest CAGR of 22.5% from 2023 to 2033.
The proliferation of Work from Home Push Demand for Threat-Hunting Solutions
In recent years, the traditional work from the office has shifted towards always-on remote or hybrid working.
This has made organizations susceptible to cyber-attacks. As per Verizon Mobile Security Index (MSI) 2023, the new world of hybrid work that has resulted from the widespread shift to remote work has seen security teams facing an uphill struggle as the number of devices and remote employees grows.
According to the report around 79% of organizations agreed that remote working had adversely affected their cybersecurity and increased the burden on security teams. Furthermore, almost nine out of ten retail organizations (88%) were concerned that a mobile security compromise may harm their brand or client loyalty.
The report also stated that more than nine out of ten (93%) executives in financial services said cyber thieves considered their industry as a more valuable target than other businesses.
Increasing cyber threats to such industries are expected to drive the demand for threat-hunting solutions, during the forecast period.
Strong Presence of Leading Threat-Hunting Providers Driving Growth
The USA threat-hunting market is projected to exhibit a prolific CAGR of over 15.2% during the forecast period of 2023 and 2033, totalling a valuation of around USD 574.3 Million in 2023.
Rising adoption of advanced cybersecurity solutions across industries, the surge in cyber-attack rates, favourable government support, and the presence of some of the leading cybersecurity giants are driving growth in the United States market.
The United States has many key cyber hunting solutions or service providers such as Broadcom, IBM, Symantec, CrowdStrike, and others. The presence of such key cyber-hunting solution providers will continue to boost the market growth in the country during the forecast period.
Increasing Government Efforts to Reduce Cyber-Attacks Pushing Demand for Cyber Hunting Solutions
As per FMI, the threat-hunting market in Germany is expected to grow at a stupendous CAGR of 21.4% during the forecast period from 2023 and 2033, creating an absolute dollar opportunity of USD 372.4 Million by 2033.
According to Germany's banking regulator, the federal financial supervisory authority (BaFin) issued a new cyber security warning to the country's financial industry. Thus, government stringent rules and regulation toward cyber threat in Germany is expected to drive the demand for cyber hunting solutions in the country during the forecast period.
Rapid Rise in Cyber-Attacks Prompting Organizations to Use Advanced Cyber Hunting Solutions
As per FMI, the threat-hunting market in India is set to grow at the highest CAGR of 24.7% between 2023 and 2033, creating an absolute dollar opportunity of USD 533.0 million by the end of 2033.
The rapid expansion of end-use industries such as BFSI and telecom & IT, the surge in cyber-attacks, and the rising penetration of both local and regional threat-hunting service providers are driving demand for cyber-hunting solutions across India.
As per Lok Sabha, there have been around 674,021 cyber-attacks in the country in 2022, making India the third most impacted by network attacks in the world.
The Indian government has taken different steps to improve cyber security and prevent cyber-attacks, including regularly publishing alerts and advisories on the newest vulnerabilities and cyber threats, as well as remedies to safeguard computers and networks.
Demand to Remain High for Threat Hunting Services in the Market
Based on the solution, the software segment will continue to dominate the global market during the forecast period. FMI predicts the software segment to grow by 5.0X through 2033.
However, the services segment is set to register the highest growth at the rate of 19.8% CAGR from 2023 to 2033. This can be attributed to the rising adoption of cyber-hunting services by small, medium, and large enterprises.
Cyber hunting services offer benefits of cyber hunting including uncovering security incidents, improving the speed of threat response, and reducing the investigation time.
Besides this, they support cybersecurity analysts in understanding the company and help to achieve appropriate mitigation of cyber threats to improve defence systems and many more. Thus, the adoption of cyber hunting services is expected to grow in the upcoming period.
Most of the Cyber Hunting Demand emerges from SMEs
Based on enterprise size, the large enterprise segment is anticipated to expand up to 4.8X during the forecast period of 2023 to 2033. However, the SME segment is set to register the highest growth rate of 20.7% from 2023 to 2033.
Cyber-attacks on SMEs are becoming more targeted, frequent, and complex. As per the annual cost of cybercrime study by Accenture, 43% of cyber-attacks are aimed at SMEs, but hardly 14% of them can defend themselves. Thus, the demand for the threat-hunting solution is expected to increase in SMEs in the forthcoming period.
BFSI to Remain Lucrative End-Use Industry for Threat Hunting Solutions
Based on the industry, the BFSI segment will be a dominating segment. The market size of the BFSI segment is anticipated to expand up to 5.1X from 2023 to 2033. This can be attributed to the rising adoption of advanced security solutions by banks and financial companies.
Financial institutions and banks all around the world have been quick to adopt advanced technology. Rapid bank digitization encourages cyber risks and has resulted in a variety of cyber threats/risks.
According to VMware Carbon Black, cyberattacks on financial institutions and banks have surged globally. As a result, it is likely to drive demand for cyber threat hunting in the BFSI business over time.
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Many key players in the global market are focusing heavily on innovation, research, and development practices to provide a variety of solutions for various industry applications. They are pursuing various strategies such as partnerships, collaborations, and acquisitions to increase their presence, customer base, and solution offering. For instance,
Capgemini, Kaspersky Lab, and Cybereason - Helping Organizations to Improve Cybersecurity
Capgemini, Kaspersky Lab, and Cybereason are the top three pioneers in the field of threat hunting. Capgemini has been a top strategic partner to businesses throughout the world for more than 50 years. The Ethisphere Institute has recognized Capgemini as one of the World's Most Ethical Companies for ten years in a row.
The company leverages cloud, data, AI, connectivity, software, digital engineering, and platforms to address the entire breadth of business needs. To defend today's digital organization, cybersecurity tools are insufficient on their own.
Because of this, Capgemini's cyber hunting solution combines automated collecting and in-depth human analysis in a novel way.
Kaspersky Lab has emerged as a leading provider of cyber hunting services. The Kaspersky Managed Protection service provides complete managed services for users of the Kaspersky Endpoint Security and Kaspersky Anti-Targeted Attack Platform, using a distinctive set of cutting-edge technical methods to identify and stop targeted assaults on your business.
The service comprises round-the-clock professional monitoring by Kaspersky researchers and ongoing threat data analysis, guaranteeing the real-time identification of both well-known and emerging cyberespionage and cybercriminal campaigns aimed at key information systems.
To assure the genuine protection of the company's assets, Kaspersky specialists provide a proactive solution called Targeted Attack Discovery.
The findings of a targeted attack discovery will enable it to locate current cybercrime and cyberespionage activity within a company’s network, comprehend the causes and potential origins of these occurrences, and successfully design mitigation measures to help prevent similar assaults in the future.
The latest stats released by the company revealed that around 687 Million cyber-attacks were stopped during the last year. The company is focused on developing advanced cybersecurity solutions to help organizations to improve their security.
For instance, in March 2022, Kaspersky launched a new threat-hunting service (known as Kaspersky Threat Hunting) that enables the timely detection of adversarial activities.
Similarly, in August 2023, Kaspersky and Microsoft partnered to deliver threat intelligence to Microsoft Sentinel users.
Another key player is Cybereason, developer of the world’s first and only end-to-end threat-hunting solution. The Cybereason Defense Platform allows defenders to actively seek out the enemy and find even the most cunning threats.
The Cybereason Defense Platform is the hub for contextual correlations, threat information, and in-depth threat hunting needed to uncover the most complex threats and guarantee a proactive security posture.
The company recently (December 2018) launched the newest version of its award-winning threat-hunting solution which includes Attack Tree, Custom Detection Rules, Mitre ATT&CK Matrix, and Remote Shell Utility.
| Attribute | Details |
|---|---|
| Market Value in 2023 | USD 2,047.0 Million |
| Projected Market Valuation (2033) | USD 13,224.2 million |
| Market CAGR 2023 to 2033 | 18.6% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, and South Africa |
| Key Segments Covered | The solution, Enterprise Size, Industry, and Region |
| Key Companies Profiled | Broadcom; IBM; Capgemini; Kaspersky Lab; Symantec; Carbon Black; Clear network; CyberDefenses; Cybereason; Delta Risk; Ingalls Information Security; IronNet Cybersecurity; Paladion; Redscan |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
As of 2023, the global threat-hunting market has a market size of USD 2,395.0 million.
The demand outlook for the threat-hunting market through 2033 is USD 13,224.2 million.
Some leading companies offering threat-hunting solutions are: • Broadcom • IBM • Capgemini • Kaspersky Lab • Symantec
The market is expected to reach USD 2,047 million in 2023.
Demand is set to reach USD 13,224.2 million by 2033.
IBM, Capgemini, Kaspersky Lab, and Symantec are the top companies in the market.
BFSI is expected to grow 5.1x by 2033.
By 2033, the South Asia & Pacific market is likely to exhibit a 22.5% CAGR.
| Market Size, 2024 | USD 13,389.50 million |
|---|---|
| Market Size, 2034 | USD 54,321.30 million |
| Value CAGR (2024 to 2034) | 15.00% |
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