Report : South America Open-Source Intelligence Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technique (Text Analytics, Video Analytics, Social Media Analytics, Geospatial Analytics, Security Analytics, and Others) and End-user (Government Intelligence Agencies, Military and Defense Intelligence Agencies, Cyber Security Organizations, Law Enforcement Agencies, Private Specialized Business, Financial Services, and Others)
Security Analytics Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM Open-Source Intelligence Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-user,” is expected to reach Euro 1,002.22 million by 2028 from Euro 492.21 million in 2021. The market is estimated to grow at a CAGR of 10.7% from 2021 to 2028. The report provides trends prevailing in the SAM open-source intelligence market along with the drivers and restraints pertaining to the market growth. Growing adoption of OSINT for social media analytics and integration of technology like artificial intelligence with open-source intelligence are the major factor driving the growth of the SAM open-source intelligence market. However, concerns related to data quality issues hinders the growth of SAM open-source intelligence market.
In case of COVID-19, SAM is highly affected specially Brazil, which has reported the largest number of cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The pandemic has compelled several country governments to impose lockdowns and suspend economic activities to contain the spread of the virus. Owing to the strict lockdown imposed by the governing bodies, the countries experienced a decline in adoption of rapid technologies and automation among all industries across the region. The Latin American countries also experienced a surge in data breaching cases during the pandemic leading to increase in demand for open-source intelligence. For instance, in November 2020, a hospital employee published a spreadsheet with identities, passwords, and access keys to important government systems to GitHub, exposing the personal and health information of over 16 million Brazilian COVID-19 patients. Thus, the above-mentioned factors positively impacted the growth of the market in the region.
The SAM 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 SAM 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 SAM 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 Brazil, Argentina, and rest of SAM.
Alfresco Software, Inc.; EXPERT SYSTEM S.P.A.; Google LLC; Palantir Technologies; and Thales Group are among the leading companies in the SAM 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, Cognizant had announced the formation of a new Google Business Group (GBG) to help shared customers expedite their cloud modernization efforts. The GBG builds on Cognizant's long-standing partnership with Google Cloud, providing combined service capabilities and joint solution development to help clients accelerate cloud transformation and meet today's business needs.