Security Analytics Segment to Dominate North America Open-Source Intelligence Market During 2021–2028  

According to a new market research study on “North America Open-Source Intelligence Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-user,” is expected to reach Euro 4,370.44 million by 2028 from Euro 1,354.23 million in 2021. The market is estimated to grow at a CAGR of 18.2% from 2021 to 2028. The report provides trends prevailing in the North America open-source intelligence market along with the drivers and restraints pertaining to the market growth. Rising government initiatives to protect individual and organizations data and growing demand for OSINT among enterprises are the major factor driving the growth of the North America open-source intelligence market. However, data quality issues hinders the growth of North America open-source intelligence market.

In case of COVID-19, North America is highly affected specially the US. The unprecedented rise in number of COVID-19 cases across the US and the subsequent lockdown to combat the spread of the virus across the country in the first two quarters of 2020 have led to numerous businesses to come on a standby situation. Technological investments in 2020 experienced a dip owing to the above-mentioned reasons, thereby impacting the growth of the market. However, the sudden lockdown has impacted the way businesses work thereby leading to the adoption of digital platforms for carrying out business operation from remote locations. For instance, in July 2021, the annual "Cost of a Data Breach" report from IBM Security projects that an average data breach will cost $4.24 million per event in 2021, up 10% from 2020 when 1,000 to 100,000 records are involved. The company's abrupt operational shifts because of the pandemic, stay-at-home orders, and the need to swiftly turn operations remote resulted in higher expenses and increased difficulties in containing a security incident after it had occurred has contributed to the increase in data breaching cost. Thus, to avoid such hefty cost organizations are rapidly adopting solutions to secure all data on their private and public servers. This is thus created new opportunities for the open-source intelligence market thereby positively impacting the growth of the market in the region.

The North America 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 North America 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 North America open-source intelligence market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the US, Canada, and Mexico.

Alfresco Software, Inc.; EXPERT SYSTEM S.P.A.; Google LLC; NetSentries Technologies FZCO; Palantir Technologies; RECORDED FUTURE, INC.; and Thales Group are among the leading companies in the North America 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 2020, Alfresco Software, a commercial, Open-Source software company, launched a new Intelligence Services module for its cloud-first Digital Business Platform. This launch helped the company to strengthen its intelligence service portfolio and acquire a competitive position in the market.