CHICAGO, Feb. 22, 2023 /PRNewswire/ -- The Global Threat Modeling Tools Market is expected to grow from an estimated USD 0.8 billion in 2022 to USD 1.6 billion by 2027 at a CAGR of 14.9% from 2022 to 2027, according to a new report by MarketsandMarkets. Factors driving market growth include the rising need for visualization and reporting occurring threats, adherence to strict regulatory guidelines, and increased usage of cloud technology and IoT devices in enterprises.
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By platform, the cloud-based segment to grow at the highest CAGR during the forecast period
Cloud-based threat modeling tools are platforms hosted on cloud infrastructure and accessed through a web browser or API. These tools take advantage of the scalability, reliability, and security of cloud-based infrastructure to provide organizations with the ability to conduct threat modeling remotely and from multiple locations. Cloud-based threat modeling tools are often subscription-based and can be easily integrated with other security tools and services to provide a more comprehensive view of an organization's security posture. The IriusRisk platform provides a web-based interface for creating threat models, identifying and categorizing threats, and evaluating their likelihood and impact. It also includes a library of pre-built threat models, which can be customized to suit specific organizations or systems.
By organization size, the SMEs segment to grow at the highest CAGR during the forecast period
The adoption of threat modeling tools in SMEs is driven by the need to protect against cyber threats and maintain compliance with industry regulations. These tools allow organizations to identify potential security risks and vulnerabilities in their systems, applications, and networks and take appropriate measures to mitigate or prevent them. Additionally, they provide real-time threat intelligence, automate security workflows, and integrate with other security tools, which ultimately improve the organization's overall security posture. An example of a threat modeling tool commonly used by SMEs is the OWASP Threat Dragon. This free, open-source threat modeling tool helps organizations identify and prioritize potential security threats and vulnerabilities in their systems, applications, and networks. It uses a simple, visual approach to identify potential attack scenarios and allows organizations to create customized threat models based on their specific needs. The tool also guides how to mitigate or prevent identified security risks and vulnerabilities, making it accessible for SMEs with limited resources.
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By region, Asia Pacific is expected to grow at a higher CAGR during the forecast period
The Asia Pacific region, which includes countries like China, Australia, Japan, and Singapore, has seen a significant increase in the exchange of sensitive data, making it a prime target for cyberattacks. As the region undergoes rapid digitization, complex cyberattacks have become a major concern. Compared to SMEs, large enterprises are more prevalent in this region, with several established SMEs that are rapidly growing to meet the needs of a broad customer base. However, due to their limited budgets, SMEs tend to view cybersecurity as an added cost rather than a necessity, making them more susceptible to cyberattacks. As a result, enterprises in the region are expected to require robust security solutions, such as threat modeling tools infrastructure, to counter the rise in complex attacks and the associated costs. Although awareness of security was previously low in the region, ransomware attacks like WannaCry have increased the need for cybersecurity solutions, which has led to the widespread implementation of threat modeling tools.
Key Players
Major vendors in the global Threat Modeling Tools Market include Cisco (US), IBM (US), Synopsys (US), Intel (US), Microsoft (US), Varonis Systems (US), Sparx Systems (Australia), Kroll (US), Mandiant (US), Coalfire (US), Securonix (US), Security Compass (Canada), IriusRisk (Spain), Kenna Security (US), ThreatModeler (US), Toreon (Belgium), Foreseeti (Sweden), Tutamantic (UK), Cymune (India), Avocado Systems (US), Secura (Netherlands), qSEAp (India), VerSprite (Georgia) and IMQ Minded Security (Italy).
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