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Threat Modeling Tools Market is Expected to Reach USD 2.4 Billion by 2030 | Driven by Escalating Cyber Threats

The SNS Insider report indicates that the Threat Modeling Tools Market Size was valued at USD 0.8 billion in 2022, and is expected to reach 2.4 billion by 2030 and grow at a CAGR of 15.2% over the forecast period 2023-2030.

The Threat Modeling Tools Market is poised for remarkable growth driven by an array of compelling factors. As organizations navigate an increasingly complex cybersecurity landscape characterized by evolving threats and stringent regulatory requirements, the importance of robust threat modeling solutions cannot be overstated. These tools empower organizations to proactively identify and mitigate security vulnerabilities, thereby safeguarding critical assets and sensitive information.

Market Report Scope

Threat modeling tools are user-friendly and straightforward to navigate and use. They have a clear and intuitive user interface, offer step-by-step guidance for creating and analyzing threat models, and can easily import and export data. Threat modeling tools include built-in templates for common threat modeling scenarios, can collaborate and share threat models with other team members, and facilitate integration with other security tools or systems. This can help streamline the threat modeling process and make it more efficient for the users. Some tools also automatically identify and prioritize potential threats based on the system’s architecture or configuration, which can save time and improve the overall effectiveness of the threat modeling process. Overall, ease of use is an important feature in threat modeling tools, as it can increase the adoption and effectiveness of the tool within an organization.

Threat Modeling Tools Market
Threat Modeling Tools Market

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Major The Key Players of Threat Modeling Tools Market

Cisco Systems, Inc., Intel Corporation, Microsoft Corporation, Sparx Systems Pty Ltd., IBM Corporation, Synopsys, Mandiant, Varonis Systems Inc., Kroll, LLC., Coalfire Systems, Inc. and other players

Market Analysis

The adoption of cloud and IoT (Internet of Things) technologies can be seen as an opportunity for the adoption of threat modeling tools. As more and more organizations move their systems and applications to the cloud and deploy IoT devices, the need for effective threat modeling tools that can analyze and protect these systems and devices increases. One way that the adoption of cloud and IoT can drive the adoption of threat modeling tools is by increasing the complexity of the systems and applications that need to be protected. As organizations move to cloud and deploy IoT devices, the systems and applications that need to be protected become more complex and diverse. Threat modeling tools that can handle this complexity and provide a comprehensive analysis of these systems and devices can be more effective in identifying and assessing potential threats. Another way that the adoption of cloud and IoT can drive the adoption of threat modeling tools is by increasing the need for integration and compatibility. As more and more systems and devices are connected to the internet, the need for security tools that can integrate and work seamlessly with other systems and devices increases. Threat modeling tools that are compatible with the cloud and IoT devices and can integrate with other security tools can be more effective in protecting these systems and devices. Finally, the adoption of cloud and IoT also increases the need for automation, as the number of systems and devices to be protected increases. Threat modeling tools that can automate the threat modeling process can help organizations to scale their security efforts and respond quickly to identified threats.

Segmentation Analysis

  • By Platform

Cloud-based threat modeling tools dominate the market due to their scalability, reliability, and security benefits. For instance, IriusRisk offers a web-based interface for threat modeling, making it accessible and customizable for various organizations.

  • By Industry Vertical

The BFSI segment leads due to the highly sensitive data it handles, making robust security measures imperative. Threat modeling tools assist in identifying vulnerabilities and implementing effective controls, reducing the risk of breaches.

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 Key Market Segments

By Component

  • Solution
  • Services

 By Platform

  • Web-Based
  • Cloud-Based
  • Desktop-Based

 By Enterprise Size

  • Large Enterprise
  • Small and Medium Size Enterprise

 By Industry Vertical

  • IT
  • Telecom
  • Healthcare
  • Utilities
  • BFSI
  • Others

Growth Factors

  • The proliferation of cyber threats, including sophisticated malware, ransomware, and targeted cyber-attacks, is propelling organizations to bolster their security measures. Threat modeling tools offer a proactive approach to identifying potential vulnerabilities and mitigating risks, thereby addressing the evolving threat landscape effectively.
  • Stringent regulatory mandates such as GDPR, HIPAA, and PCI-DSS necessitate organizations to implement robust security measures to safeguard sensitive data. Threat modeling tools aid in ensuring compliance by identifying and addressing security gaps, thereby avoiding hefty fines and reputational damage associated with non-compliance.
  • The widespread adoption of emerging technologies such as cloud computing, IoT, and AI presents both opportunities and challenges in terms of security. Threat modeling tools play a crucial role in assessing the security implications of adopting these technologies, enabling organizations to deploy them securely and mitigate associated risks.

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Impact of Russia Ukraine War

The market for threat modeling tools has been significantly impacted by the Russian-Ukrainian conflict. Increased cyber risks, supply chain interruptions, and economic restrictions have all been brought on by the war. Organizations now find it more challenging to get and employ threat modeling tools as a result. Because Russia and Ukraine have been actively targeting each other’s IT infrastructure during the conflict, there has been an upsurge in cyber threats. This has made it more challenging for enterprises to identify and reduce these hazards using threat modeling techniques. Avocado Systems, for example, experienced a 20% reduction in sales in the first quarter of 2023 due to customer delays or cancellations. As a result, the market is anticipated to expand more slowly in the near future, although it is expected to rebound over time.

Impact of Ongoing Recession

Organizations may be more hesitant to invest in new security tools during a recession, potentially leading to a decline in the threat modeling tools market. According to a recent report by Gartner, worldwide spending on information security products and services is expected to decline by 3.8% in 2023. Cloud-based threat modeling tools could be more attractive during this period due to their cost-effectiveness and scalability. Rapid7’s free version of its threat modeling tool, Rapid7 InsightIDR, could help organizations get started with threat modeling without significant investment.

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Key Regional Development

North America dominates the threat modeling tools market due to its emphasis on cybersecurity and a high concentration of businesses. The Asia Pacific region is witnessing rapid digital transformation, leading to increased awareness of cybersecurity risks and the importance of threat modeling tools, especially in industries like e-commerce and finance.

Key Takeaways

  • Escalating cyber threats and increased adoption of advanced technologies are driving the growth of the threat modeling tools market.
  • Cloud-based threat modeling tools are dominating the market, offering scalability and reliability benefits.
  • The BFSI sector leads in adopting threat modeling tools due to the highly sensitive data it handles.
  • Despite challenges posed by geopolitical conflicts and economic downturns, the threat modeling tools market is expected to rebound over time.

Recent Developments

In February 2023: Mandiant partnered with Nucleus, enhancing vulnerability management capabilities. This integration advances security and risk decision-making, facilitating better threat prioritization and triage.

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