- The data analytics segment is anticipated to grow at a CAGR of above 25 per cent from 2021 to 2027
- North America is projected to grow significantly in the open source intelligence market with over a 22 per cent CAGR over the forecast period
The open source intelligence market valuation will cross $20 billion by 2027 as per a report Global Market Insights Inc. Increasing availability of open-source data, coupled with rising cyber threats, terrorism, and other illegal practices, is likely to drive the industry’s growth.
The growing adoption of open source intelligence among multiple organisations and the surge in demand for cloud-based OSINT among SMEs will drive the growth of the market. The increasing need for OSINT by various industries to gain valuable insights for business decisions will boost the growth in the market. . Social media analytics and text analytics will provide major opportunities for the expansion of the market in the future. The major companies are focusing on emerging technologies, such as big data and artificial intelligence (AI), to develop an open source intelligence solution.
The data analytics segment is anticipated to grow at a CAGR of above 25 per cent from 2021 to 2027. Data analytics plays an important role for enterprise-level businesses to analyze a huge amount of structured and unstructured data and resolve their business imperatives.
The report added, “The cybersecurity segment is expected to hold a larger market share during the forecast period. The growth is attributed to the increasing demand for robust and secure networks by enterprises for safe data accessibility. Leading organizations across the globe are migrating their core businesses to digital platforms, and the requirement for cybersecurity policies and initiatives to address the increasing incidents of data breaches is growing rapidly, boosting the market demand.
Social media as their key source for promotions of different products
The private sector segment is projected to witness exponential growth over the forecast period, i.e., from 2021 to 2027. This is because multiple organisations have targeted social media as their key source for promotions of different products, advertising campaigns, and events as it is more effective than the traditional way of advertising and marketing, providing lucrative opportunities for the market. The deployment of social media analytics and text analytics is anticipated to create numerous opportunities for private sectors for business decisions.
North America is projected to grow significantly in the open source intelligence market with over a 22 per cent CAGR over the forecast period. The growth is attributed to the increasing adoption of open source intelligence tools by various government and non-government organizations to gain business insights. Several enterprises operating in the region are focusing on new product launches for open source intelligence technology solutions