Threat Modeling Tools Market Expected to Reach $3.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Threat Modeling Tools Market," The threat modeling tools market was valued at $886.63 million in 2022, and is estimated to reach $3.4 billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.

Threat modeling is a structured process to identify security requirements, pinpoint security threats and potential vulnerabilities, quantify threat and vulnerability criticality, and prioritize remediation methods. Moreover, Threat modeling works by identifying the types of threat agents that cause harm to an application or computer system. It adopts the perspective of malicious hackers to see how much damage they could do. When conducting threat modeling, organizations perform a thorough analysis of the software architecture, business context, and other artifacts. 

Furthermore, increase in demand for user-friendly threat modeling tools and rise in implementation of artificial intelligence (AI) in security solution is boosting the growth of the global threat modeling tools market. In addition, increase in use of digital transformation technology is positively impacting growth of the threat modeling tools market. However, lack of skills and trained security analyst and high procurement costs of threat intelligence solutions is hampering the threat modeling tools market growth. On the contrary, rise in adoption of cloud and IoT technologies is expected to offer remunerative opportunities for expansion of the threat modeling tools market forecast.  

Depending on enterprise size, the large enterprise segment holds the largest threat modeling tools market share as large enterprises are adopting threat modeling tool to protect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of cloud computing in the past few years. 

Region-wise, the threat modeling tools market size was dominated by North America in 2022, and is expected to retain its position during the forecast period, as it has highest number of threat modeling tool vendors since data security breaches most often impact it. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to rise in complex attacks and the associated costs. 

The threat modeling tools market has witnessed stable growth during the COVID-19 pandemic, owing to rise in demand for cyber security, fraud detection solutions, and various others security solutions. In addition, the COVID-19 pandemic has resulted in changes of model performance, as more continuous monitoring and validation are required to mitigate various types of risks, compared to static validation and testing methods, which, in turn, drives the development of advanced technology models. In addition, with rapid digital transformation, various governments have introduced stringent regulations to protect end users’ data such as General Data Protection Regulation (GDPR). Thus, governments in various countries have taken strict actions toward the defaulters of COVID-19 regulations, and natural language processing technology is helping organizations to scan their internal policies as well as data security to check their compliance with different regulatory policies, which, in turn, drives the growth of the threat modeling tools industry.  

With the rapid spread of COVID-19, majority of people faced sudden surge in demand for cyber security, owing to sudden increase in panic among public, which, in turn, increased the demand for video conferencing and collaborative tools. This, in turn, augmented the demand for threat modelling tools to prevent potential threats to the system. Furthermore, various companies have acquired cloud service providers to reinforce the importance of threat modeling in organizations. For instance, in September 2022, Google Cloud acquired Mandiant to provide a complete security operation solution that offers even more robust capabilities to help customers project both their cloud and on-premise environment. The acquisition enabled the companies to deliver an end-to-end security operation suite that covered all the necessary aspects of security for customers. Thus, these factors are driving the growth of the market during COVID-19 pandemic

The integration of advanced technologies such as threat modelling AI applications and ML is helping industries to maintain data on user behavior and then using pattern recognition to identify high-risk activities on the network to create effective signals in threat detection, which, in turn, is driving the growth of the market. For instance, AI systems may force benign emails to be classified as spam or cause a malicious example to go undetected, and attacker-crafted inputs may reduce the confidence level of correct classification especially in high-consequence scenarios, which is expected to create huge volume of data needed for upgrading the AI and deep learning technologies. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global market. 

Key Findings of the Study:

• By component, the solution segment accounted for the largest threat modeling tool market share in 2022. 

• Region wise, North America generated highest revenue in 2022. 

• Depending on platform, the web-based segment generated the highest revenue in 2022. 

The key players profiled in the threat modeling tools market analysis are Cisco Systems, Inc., IBM Corporation, Synopsys, Intel Corporation, Varonis Systems Inc., Microsoft Corporation, Mandiant, Coalfire Systems, Inc., Kroll, LLC., and Sparx Systems Pty Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the threat modeling tools industry.