Military and Defense Intelligence Agencies Segment is Expected to be Fastest Growing During Forecast Period for APAC Region

According to a new market research study on “APAC Open-Source Intelligence Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-user,” is expected to reach Euro 2,071.75 million by 2028 from Euro 547.50 million in 2021. The market is estimated to grow at a CAGR of 20.9% from 2021 to 2028. The report provides trends prevailing in the APAC open-source intelligence market along with the drivers and restraints pertaining to the market growth. Amalgamation of technology like artificial intelligence and rising adoption of OSINT for social media analytics are the major factor driving the growth of the APAC open-source intelligence market. However, complexities related to data quality hinders the growth of APAC open-source intelligence market.

In case of COVID-19, APAC is highly affected specially India. The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated countries in the world, which leads to the greater risk infection spread. Many global brands and technological companies are headquartered in the region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The rapid outbreak of the COVID-19 pandemic has led to strict lockdowns across the region since the starting of 2020. Some part of the region like India are still facing lockdowns owing to the rising cases across the country. The region has been experienced a closure of all business activities in the initial moths of 2020, thereby leading to declining investment in any form of technologies and increase in digital adoption to carry on daily business operation from remote locations. 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, was claimed to have experienced a data breach that affected over 2 crore consumers' personal information. Personal information such as email addresses, full names, and IP addresses has been hacked as a result of this data breach and is reportedly being sold on the dark web. Thus, the above-mentioned factors have positively impacted the growth of the market in the region.

The APAC open-source intelligence market is segmented on the basis of technique, end-user, and country. Based on technique, the market is bifurcated into text analytics, video analytics, social media analytics, geospatial analytics, security analytics, and others. The security analytics segment dominated the APAC open-source intelligence market in 2020 and same segment is expected to be fastest growing during forecast period. By end-user, the market is bifurcated into government intelligence agencies, military and defense intelligence agencies, cyber security organizations, law enforcement agencies, private specialized business, financial services, and others. The cyber security organizations segment dominated the APAC open-source intelligence market in 2020 and military and defense intelligence agencies segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC. 

Alfresco Software, Inc.; Google LLC; NetSentries Technologies FZCO; Palantir Technologies; RECORDED FUTURE, INC.; and Thales Group are among the leading companies in the APAC open-source intelligence market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Google Cloud had announced two significant updates to BigQuery that will continue to meet customer demand for faster time to insight and improved performance. To deliver sub-second query response time and high concurrency, the BI Engine, and materialized views for BigQuery are built on the open, intelligent, and flexible Google Cloud platform.