Cyber Security Organizations Segment to Dominate Europe Open-Source Intelligence Market During 2021–2028

According to a new market research study on “Europe Open-Source Intelligence Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-user,” is expected to reach Euro 2,594.03 million by 2028 from Euro 754.97 million in 2021. The market is estimated to grow at a CAGR of 19.3% from 2021 to 2028. The report provides trends prevailing in the Europe open-source intelligence market along with the drivers and restraints pertaining to the market growth. Rising demand for OSINT among enterprises and growing government initiatives to protect individual and organizations data are the major factor driving the growth of the Europe open-source intelligence market. However, problems related to data quality hinders the growth of Europe open-source intelligence market. 

In case of COVID-19, Europe is highly affected specially France. In Europe, the COVID-19 pandemic has a different impact on different countries, as only selective countries have witnessed the rise in the number of cases and subsequently attracted strict, as well as prolonged, lockdown periods or social isolation norms. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare systems. The sudden outbreak of the COVID-19 pandemic across the region has not only led to the standstill of business operations but have also led to the closure of several small and medium enterprises across the region. In the initial three to four months of 2020, the region has experienced a dip in technological investments across the country. However, the region rapidly adopted remote working culture thereby utilizing digital platform for business operations. The rapid shift in a complete digital phase accounted to data security issues across the organizations in the European region. For instance, in December 2020, an unspecified number of Spotify (Headquartered in Sweden) members had their passwords changed as a result of a software flaw that exposed account information to the public. Similarly, in July 2020, an unprotected server exposed the personal information of 60,000 users of Ancestry.com, a family history search software company. Thus, the increase in the data breaching cases have influenced the adoption of open-source intelligence solutions. Thereby positively impacting the growth of the market.

The Europe 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 Europe open-source intelligence market in 2020 and social media analytics 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 Europe 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 the UK, Germany, France, Italy, Spain, Russia, and rest of Europe.

Alfresco Software, Inc.; Digital Clues; EXPERT SYSTEM S.P.A.; Google LLC; IPS S.p.A.; Maltego Technologies.; Palantir Technologies; RECORDED FUTURE, INC.; and Thales Group are among the leading companies in the Europe 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 and Axiata Enterprise, a B2B division of Axiata Group Berhad (“Axiata”), a prominent telecommunications group in ASEAN and South Asia, announced a strategic agreement to service the shifting needs of millions of businesses throughout Asia's increasingly digitalizing economies.