The global open source intelligence market size was valued at $5.02 billion in 2018 and is projected to reach $29.19 billion by 2026, growing at a CAGR of 24.7% from 2020 to 2027.
Open source intelligence (OSINT) tools help in converting raw data into another valuable format with the purpose of making it more appropriate for advance tasks such as machine learning and data analytics. The primary goal of open source intelligence is to provide help to the organizations to reduce the time spent on collecting and arranging data.
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In addition, open source intelligence helps data scientists to focus mainly on analysis rather than focusing on wrangling of data. Furthermore, increase in adoption of open source intelligence tools among various organizations and surge in demand for cloud-based OSINT among SMEs drive the growth of the market. In addition, increase in need of OSINT by various industries to gain insights for business planning fuels the growth of the market.
However, lack of awareness about OSINT and concerns related to data quality issues hamper the growth of the market. Furthermore, emerging trends such as social media analytics is expected to present major opportunities for the expansion of the market in the future.
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By source, the global open source intelligence market led by the media segment in 2019 and is projected to maintain its dominance during the forecast period. Rise in amount of data generated from various social media sites such as Facebook, Twitter, LinkedIn, Instagram, and need to manage this data boost the growth of the market. However, the internet segment is expected to grow at the highest rate during the forecast period, owing to high usage of internet across different industries such as IT & telecom, manufacturing, and government & defense across the globe.
Region wise, the open source intelligence market was dominated by North America in 2019 and is expected to retain its position during the forecast period. The major factor that drives the growth of the market in this region includes rise in need for open source intelligence tools among business to extract valuable insights. However, Asia-Pacific is also expected to witness significant growth rate during the forecast period, owing to the adoption of open source intelligence tools among the SMEs to increase the security of the organization.
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The key players profiled in the open source intelligence market analysis are Alfresco Software Inc., Digital Clues, Expert Systems S.p.A, Google LLC, Maltego Technologies GmbH, OffSec Service Limited, Octogence Technologies Pvt. Ltd., Palantir Technologies Inc., Recorded Future, Inc., and Thales Group. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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