Open-Source Intelligence Market to hit Euro 10,858.24 Mn, Globally by 2028 at 17.9% CAGR: The Insight Partners

Open-Source Intelligence Market is propelled by Growing Adoption of OSINT for Social Media Analytics

NEW YORK, UNITED STATES, November 15, 2021 / — According to The Insight Partner’ 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.

Market Size Value in – Euro 3,422.74 Million in 2021
Market Size Value by – Euro 10,858.24 Million by 2028
Growth rate – CAGR of 17.9% from 2021-2028
Forecast Period – 2021-2028
Base Year – 2021
No. of Pages – 155
No. Tables – 64
No. of Charts & Figures – 80
Historical data available – Yes
Segments covered – Technique and End-User
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Rise in Government Initiatives to Protect Individuals’ and Organizations’ Data

Data security is vital for businesses and individuals. Government bodies across the world have been taking several initiatives since past few years to implement strict data protection regulations across their respective regions. For instance, the European government formed the General Data Protection Regulation in January 2012. It sets an advanced security analytics plan for all companies operating across Europe. Noncompliance with the EU GDPR might result in hefty fines of up to 4% of an organization's global revenue. Two significant components pf EU GDPR are the necessity to notify EU authorities within 72 hours of a breach and the requirement to be able to demonstrate that the organization's security policy is state-of-the-art (SOTA). The data protection law enforcement committee in Europe is trained to use open-source intelligence (OISNT) in their investigations for efficient results. The Australian government protects the data of various forms in the country by implementing several laws, such as the Australian Privacy Principles (APP), Cybercrime Act, Spam Act, and Telecommunication Act. This act regulates the collection, use, and disclosure of personal information; limits unlawful access to computers; and restricts phishing emails from crashing into personal and official systems across the country. Thus, the rising government initiatives to protect both personal and organizational data from theft are bolstering the adoption of open-source intelligence across government intelligence agencies, military & defense intelligence agencies, cybersecurity organizations, law enforcement agencies, and private specialized businesses across the world.

Impact of COVID-19 Pandemic on Open-source Intelligence Market
The COVID-19 pandemic has shaken several industries across the world. The lockdown hindered the operations of various industries, including manufacturing and IT. Every country across the world has declared a lockdown to prevent the spread of the novel coronavirus; therefore, internet penetration, social media consumption, and web portals use have all skyrocketed during the pandemic. After adopting work-from-home policies and following regulatory guidelines, businesses have seen a rise in harmful actions and cyber security concerns. By assisting and protecting consumers and company data, OSINT technology assists firms in detecting and mitigating potential cyber security threats. Furthermore, ONIST technologies and solutions assist the intelligence community in extracting intelligence from a massive amount of publicly available data and gathering data relevant to a potential national security threat. As a result, the COVID-19 outbreak has had a favorable impact on the open-source intelligence (OSINT) market growth.

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Technique-Based Market Insights
Based on technique, the open-source intelligence market is segmented into text analytics, video analytics, social media analytics, geospatial analytics, security analytics, and others. In 2020, the security analytics segment led the market and held the largest market share.

End-User-Based Market Insights
Based on end-user, the open-source intelligence market is segmented into government intelligence agencies, military and defense intelligence agencies, cyber security organizations, law enforcement agencies, private specialized business, financial services, and others. In 2020, the cyber security organizations segment led the market and accounted for the largest market share.

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• In July 2021,, a premier artificial intelligence (AI) platform for natural language understanding, announced that it has been named to the KMWorld AI 50: The Companies Empowering Intelligent Knowledge Management.
• In May 2021, Palantir Technologies Inc. confirmed that it will provide software to the Department of the Air Force (DAF), Space and Missile Systems Center's Cross-Mission Ground & Communications Enterprise (SMC/ECX), and NORAD-NORTHCOM to support the United States Space Force and United States Air Force's critical missions.

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Source: EIN Presswire