Global Threat Modeling Tools Market Size, Share & Industry Trends Analysis Report By Vertical, By Platform (Web-based, Desktop-based, and Cloud-based), By Component, By Organization Size, By Regional Outlook and Forecast, 2022 - 2028

Global Threat Modeling Tools Market Size, Share & Industry Trends Analysis Report By Vertical, By Platform (Web-based, Desktop-based, and Cloud-based), By Component, By Organization Size, By Regional Outlook and Forecast, 2022 - 2028

The Global Threat Modeling Tools Market size is expected to reach $1.8 billion by 2028, rising at a market growth of 14.6% CAGR during the forecast period.

The process of gathering, compiling, and evaluating all of the data and applying it to a software system is known as threat modeling. This approach enables decision-making concerning application security threats. In addition to producing a model, most threat modeling efforts result in a prioritized list of security improvements to the Web application's requirements, design, or implementation. Threat modeling contributes to better cybersecurity and increases customer confidence in crucial business systems by identifying vulnerabilities or monitoring attack surfaces, helping with risk assessment methodologies, and implementing remedial action.

In protecting a single highly classified material, threat modeling attempts to identify, convey, and interpret dangers and their easing through time. An organized representation of all the data that affects the application's security might be a threat model. A security-focused reading of the application is being done. In addition to software systems, apps, networks, distributed systems, Internet of Things (IoT) devices, and business processes, threat modeling is often used in various contexts.

Threat modeling functions by identifying the various threat agents that pose a risk to a computer system or application. Organizations thoroughly examine the software architecture, business environment, and other artifacts while completing threat modeling, for instance, functional specifications and user documentation. They may have a deeper grasp of and uncover essential facets of the system owing to this method. To discover vulnerabilities and understand the security significance of their design, coding, and configuration choices, businesses often finish threat modeling at the configuration stage of a new application (although it may arise at other phases).

COVID-19 Impact Analysis

The COVID-19 pandemic has positively affected the threat modeling tools market. Employees are more likely to work from home and remain at home due to the limitations put in place by the government in reaction to the pandemic outbreak. As a result, technology now plays a more significant role in both the personal and professional lives of many people. Businesses are quickening the process of becoming digital, and as a result, cybersecurity is increasingly becoming a top concern. The reputational, operational, legal, and compliance ramifications may be significant if cybersecurity concerns are disregarded.

Market Growth Factors

There is a rising need for user-friendly threat modeling technologies.

Tools for threat modeling are simple to use, browse and are user-friendly. They give step-by-step instructions for building and assessing threat models, have an easy-to-use user interface, and can easily import and export data. Tools for threat modeling may collaborate and share threat models with other team members and simplify integration with other security tools or systems. They also come with built-in templates for typical threat modeling situations. This may assist in simplifying the threat modeling process and increase user efficiency. Due to these reasons, the threat modeling tools market is anticipated to have considerable expansion over the projected period.

IoT and cloud adoption are widely used

A potential for using threat modeling tools may be observed in deploying cloud and IoT (Internet of Things) technology. The need for efficient threat modeling tools to assess and safeguard these systems and devices grows as more businesses transfer their infrastructure and applications to the cloud and introduce IoT devices. Making the systems and applications that need to be safeguarded more complicated, adopting cloud and IoT might encourage using threat modeling tools. The systems and applications that need to be protected grow increasingly complicated and varied as firms use the cloud and roll out IoT devices.

Market Restraining Factors

Increasing complexity

Threat modeling tools' complexity is referred to as both the difficulty users have while using and comprehending the tool and the complexity of the applications and systems the tools are intended to examine. A high degree of technical competence and a steep learning curve for specific technologies may be needed. Others could have a user-friendly interface, but they take a long time to set up and configure. The tool's analysis's depth and breadth are further indicators of complexity. Although some tools may only concentrate on a specific group of assets and dangers, others could be able to assess a wide variety of assets and risks, even those that are concealed or difficult to find.

Platform Outlook

By platform, the threat modeling tools market is segmented into web-based, desktop-based and cloud-based. In 2021, the cloud-based segment acquired a prominent revenue share in the threat modeling tools market in 2021. This is due to the fact that organizations may undertake threat modeling remotely and from different places due to cloud-based threat modeling solutions, which are hosted on the cloud and accessible through a web browser or API. These technologies, which are often subscription-based, provide cloud-based infrastructure's scalability, dependability, and security advantages.

Component Outlook

On the basis of component, the threat modeling tools market is fragmented into solution and services. The solution segment dominated the threat modeling tools market with maximum revenue share in 2021. This is because they are an automated threat modeling solution that scales and protects the company's software development life cycle. They lessen the overall risk by using preventative security measures. Moreover, this approach discovers, predicts, and categorizes hazards across the attack surface.

Organization Size Outlook

Based on organization size, the threat modeling tools market is divided into large enterprises and small & medium enterprises. In 2021, the SMEs segment covered a considerable revenue share in the threat modeling tools market. This is due to the necessity to defend against online attacks and maintain compliance with industry laws. Using the right preventative or mitigating actions is made possible by these technologies, which enable firms to discover potential security risks and vulnerabilities in their systems, applications, and networks.

Vertical Outlook

By vertical, the threat modeling tools market is bifurcated into BFSI, healthcare, utilities, IT & ITes, and others. In 2021, the IT & ITes segment generated the maximum revenue share in the threat modeling tools market. This is because it is a technique of employing fictitious scenarios, system designs, and testing to help safeguard systems and data. Threat modeling enhances cybersecurity and customer confidence in important business systems by finding weaknesses, assisting with risk assessment, and recommending remedial action.

Regional Outlook

Region wise, the threat modeling tools market is analyzed across North America, Europe, Asia Pacific and LAMEA. The North America region dominated the threat modeling tools market with maximum revenue share in 2021. North America has the highest number of threat modeling tool vendors since data security breaches most often impact it. Organizations and governments in the area see data security as the region's most pressing economic and national security concern. The government has intervened more often in threat modeling tools in recent years due to rising worries about the security of sensitive data and key infrastructure.

The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Google, Inc. are the forerunners in the Threat Modeling Tools Market. Companies such as Microsoft Corporation, Cisco Systems, Inc., and IBM Corporation are some of the key innovators in Threat Modeling Tools Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Synopsys, Inc., Intel Corporation, Microsoft Corporation, Sparx Systems Pty. Ltd., Securonix, Inc., Varonis Systems, Inc., Coalfire Systems, Inc. (Apax Partners LLP), and Mandiant (Google LLC)

Recent Strategies Deployed in Threat Modeling Tools Market

Partnerships, Collaborations and Agreements:

Jun-2022: Securonix and Snowflake expanded their partnership with Zscaler, a US-based software-as-a-service firm. The partnership involves advancing threat detection and response at the cloud scale.

May-2022: Securonix partnered with Mphasis, an India-based provider of IT solutions. The partnership combines Securonix’s analytics-driven detection and automated response tools, and Mphasis' digital & cyber defense expertise to deliver cyber threat monitoring and response services to customers globally.

Feb-2022: Mandiant partnered with Nucleus, a US-based developer of vulnerability management software. Integrating Nucleus' analytics, and vulnerability management orchestration abilities, with Mandiant Advantage Vulnerability Intelligence, enables users to advance the vulnerability prioritization and triage process. Further, this partnership advances Mandiant's potential to serve and support the organization to advance security and risk decision-making.

Sep-2021: Synopsys came into partnership with The Chertoff Group, a US-based global advisory firm. The partnership focuses on integrated threat modeling, on-time cyber policy insights, technical testing, and validation outcomes.

Apr-2021: IBM teamed up with HCL Technologies, an India-based provider of IT solutions. The collaboration involves unifying threat management for clients through a modernized security operation center (SOC) platform. Through this collaboration, the companies aim to modernize security operations and support clients advance their security outcomes.

Acquisitions and Mergers:

Jun-2022: Microsoft completed the acquisition of Miburo, a US-based provider of cyber threat analysis and research services. The addition of Miburo perfectly aligns with Microsoft's aim to take action and partner with others in the private and public sectors to discover long-term solutions.

Nov-2021: IBM took over ReaQta, a Netherlands-based developer of detection and response platform. The addition of ReaQta expands IBM's market presence in the extended detection and response (XDR) market.

Jul-2021: Microsoft acquired RiskIQ, a US-based developer of a digital threat management platform. The addition of RiskIQ's team and technology enables Microsoft to better take care of the needs of mutual customers.

Jun-2021: Coalfire acquired Denim Group, a US-based developer of security software. The addition of Denim Group advances Coalfire's devotion to bring simplicity to AppSec risk programs. Further, this acquisition enables Coalfire to transform modern application development.

Jun-2021: Cisco took over Kenna Security, a US-based developer of a predictive cyber risk analysis platform. This acquisition reinforces Cisco's platform experience.

Product Launches and Expansions:

Mar-2022: Coalfire launched AppSec solutions. The new solution includes program development and implementation, secure code review, application perimeter mapping, etc.

Aug-2020: Microsoft introduced two new solutions for threat intelligence and attack surface management, Track Threat Actor Activity and Patterns, and See your Business the way an attacker can. Additionally, these new solutions broaden Microsoft's security products and solutions offerings.

Scope of the Study

Market Segments covered in the Report:

By Vertical

• IT & ITeS
• BFSI
• Healthcare
• Utilities
• Others

By Platform

• Web-based
• Desktop-based
• Cloud-based

By Component

• Solution
• Services

By Organization Size

• Large Enterprises
• Small & Medium Enterprises

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Cisco Systems, Inc.
• IBM Corporation
• Synopsys, Inc.
• Intel Corporation
• Microsoft Corporation
• Sparx Systems Pty. Ltd.
• Securonix, Inc.
• Varonis Systems, Inc.
• Coalfire Systems, Inc. (Apax Partners LLP)
• Mandiant (Google LLC)

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