OSINT global market to reach $37B by 2030 amid escalating cyber threats, security concerns

OSINT

The global Open-Source Intelligence (OSINT) market is projected to reach a staggering fivefold increase to US $36.93 billion by 2030, with a compound annual growth rate (CAGR) of 22.63% expected in the following seven years, according to Indian market research company SNS Insider.

In 2022, the global OSINT market was valued at US $7.22 billion in 2022.

The growth is propelled by a confluence of factors, ranging from the evolving cybersecurity landscape to the increasing need for cross-border intelligence and the relentless pace of technological innovation, according to the company.

The analysis also revealed that economic recession is driving demand for OSINT services amid budget constraints, but acknowledges that budget cuts and resource limitations could also hinder the market’s growth, affecting investment in advanced OSINT technologies. Despite economic challenges, security concerns may escalate during a recession, driving the need for OSINT to monitor and address emerging threats. OSINT providers that demonstrate adaptability and flexibility in pricing models may better navigate the recessionary landscape, SNS Insider pointed out.

The Russia-Ukraine war has profound implications for the OSINT market, as the conflict generates an increased demand for intelligence to monitor geopolitical developments, assess military activities, and understand the potential impact on global security. Heightened geopolitical tensions drive the need for timely and accurate intelligence, positioning OSINT as a critical tool for monitoring the conflict’s dynamics. The conflict may lead to an escalation of cyber threats, emphasizing the importance of OSINT in detecting and mitigating potential cyberattacks.

According to the study, North America leads in OSINT market growth, as government agencies and private enterprises in the region prioritize advanced intelligence solutions, contributing to market expansion. With a strong emphasis on cybersecurity and counterterrorism, European countries also drive the demand for OSINT, but strict data protection regulations influence the adoption of OSINT tools, ensuring compliance with privacy standards. The Asia-Pacific region experiences rapid growth in the OSINT market due to increasing cybersecurity threats and geopolitical tensions, as governments in the region invest in intelligence capabilities to bolster national security, the study further revealed.

SNS Insider also mentions two main events in the OSINT market in 2023: Australian open-source intelligence (OSINT) software company Fivecast succesful US$20 million Series A funding round and OSINT vendor Social Links partnership with Brazil’s TechBiz Forense Digital.

Read both stories:

Australian OSINT software co Fivecast raises US $20M from investors

Social Links, Techbiz Forense Digital strengthen partnership in Latin America

Press release source: einpresswire.com

Image source: pixabay.com

Share:

Author: OSINT NEWS

Related Articles

Leave a Reply