According to a latest research report titled “Open-Source Intelligence Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market was valued at Euro 3,201.02 million in 2020 and is projected to reach Euro 10,858.24 million by 2028, and it is expected to grow at a CAGR of 17.9% during 2021–2028.
APAC Open-Source Intelligence Market to Register Highest CAGR during Forecast Period
People have been exposed to serious security vulnerabilities because of technological innovation and extensive use. Therefore, stringent rules and regulations are set by governments to secure data of both individuals and businesses. For instance, in India, the Jurisdiction of Information Technology Rules, 2013 governs the operations of all service providers, data centers, and intermediaries. This regulation requires any cybersecurity issues to be reported in real time to the Indian Computer Emergency Response Team. Additionally, in April 2017, the Telecom Regulatory Authority of India started to draft a comprehensive data protection framework. Thus, these initiatives to protect all kinds of data are expected to influence the adoption of data protection solutions, which would bolster the growth of the APAC open-source intelligence market in the coming years. APAC experienced a closure of all business activities in the initial moths of 2020. However, during the pandemic, the region experienced a rise in data breaching cases, leading to the increase in demand for security solutions among the enterprises. For instance, in November 2020, BigBasket, a famous Indian online grocery retailer, claimed to have experienced a data breach that affected over 2 crore consumers' personal information. In this data breach, personal information such as email addresses, full names, and IP addresses has been hacked and is reportedly being sold on the dark web. Thus, the above-mentioned factors have positively impacted the growth of the open-source intelligence market in the region.
Key Findings of Study:
Artificial Intelligence (AI) is becoming increasingly important for security purposes across all industries. AI web intelligence improves the efficiency of automated web investigations in the context of criminal investigations. Therefore, it is employed for decision-making. Overall, AI-powered OSINT tools, such as SOCMINT technologies, assist agencies and organizations in swiftly and efficiently making sense of enormous amounts of publicly available internet and social media data from a variety of OSINT sources. Due to the risk of exposure, deep and dark web surveillance is one of the most difficult cybercrime challenges for law enforcement. In criminal investigations, OSINT and social media intelligence (SOCMINT) enable web fingerprint reconstruction or facial identification, making them suitable forensic tools. These techniques enable investigators to acquire access to information that would otherwise be unavailable, allowing them to trace links between threat actors or groups that appear to be unrelated.
Additionally, AI-powered open-source intelligence offers various benefits such as speeding up the whole investigation process, minimizing the risk of missing any aspect in the investigation, visibility, and safety of information. Thus, the adoption of AI-powered OSINT is expected to increase in the coming years, which would create lucrative opportunities for the growth of the open-source intelligence market during the forecast period.
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