Open Source Intelligence Market Growing at a CAGR of 24.7% | Insights by Latest Trends, Future Growth Factors by 2027
Developing trends such as social media is anticipated to create an array of new opportunities for the market players in the approaching time. Increase in adoption of #open source intelligence among various organizations, rise in demand for cloud-based open source intelligence from SMEs, and growing need to gain insights for business planning drive the growth of the global open source intelligence market.
Major key players such as OffSec Service Limited, Octogence Technologies Pvt. Ltd., Palantir Technologies Inc., Recorded Future, Inc., Alfresco Software Inc., Digital Clues, Expert Systems S.p.A, Google LLC, Maltego Technologies GmbH, and Thales Group.
The global open source intelligence market was pegged at $5.02 billion in 2019, and is projected to reach $29.19 billion by 2027, growing at a CAGR of 24.7% from 2020 to 2027.
Region wise, the market is analyzed across regions including North America, Europe, LAMEA, and Asia-Pacific. The market in North America region contributed for the largest market share in 2019, with more than one-third of the total revenue share. At the same time, the global open-source intelligence market across Asia-Pacific is anticipated to manifest the highest CAGR of 26.2% in between 2020 to 2027.
The open source intelligence market is analyzed on the basis of source, technique, end user, and region. Based on technique, the security analytics segment held the largest market share in 2019, with more than one-third of the global market. On the other hand, the video analytics segment is projected to manifest the highest CAGR of 26.0% during the forecast period. The report also covers segments including text analytics, social media analytics, geospatial analytics, and others.
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Based on end user, the market is classified into government intelligence agencies, military & defense intelligence agencies, cyber security organizations, law enforcement agencies, financial services, private specialized business, and others. The cybersecurity organizations segment held the largest share in 2019, accounting for nearly one-third of the global market. However, the law enforcement agencies segment is expected to register the fastest CAGR of 28.1% during the forecast period.
- Rise in Internet consumption, due to the trend of work from home, during Covid-19 has positively impacted the market.
- Growing use of social media platforms and escalated utilization of Internet and digital platforms have further worked in favor of the Open source intelligence market.
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