MarketsandMarkets forecasts the global threat modeling tools market is expected to grow from an estimated USD 0.8 billion in 2022 to USD 1.6 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 14.9% from 2022 to 2027. Growing demand for user-friendly threat modeling tools, stringent government regulations, and rising cases of cyber crimes are some factors driving the threat modeling tools market growth.
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What is Threat Modeling Tools?
According to MarketsandMarkets, threat modeling is the process of identifying and evaluating potential security threats to a system or application to identify vulnerabilities and determine appropriate remediations. Threat modeling tools are software tools that automate or facilitate this process. They are used to identify and assess the potential risks to a system, application, or organization and help determine appropriate security controls to mitigate or prevent them.
By platform, the cloud-based segment to grow at the highest CAGR during the forecast period
Cloud-based threat modeling tools are platforms hosted on cloud infrastructure and accessed through a web browser or API. These tools take advantage of the scalability, reliability, and security of cloud-based infrastructure to provide organizations with the ability to conduct threat modeling remotely and from multiple locations. Cloud-based threat modeling tools are often subscription-based and can be easily integrated with other security tools and services to provide a more comprehensive view of an organization’s security posture. The IriusRisk platform provides a web-based interface for creating threat models, identifying and categorizing threats, and evaluating their likelihood and impact. It also includes a library of pre-built threat models, which can be customized to suit specific organizations or systems.
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By organization size, the SMEs segment to grow at the highest CAGR during the forecast period
The adoption of threat modeling tools in SMEs is driven by the need to protect against cyber threats and maintain compliance with industry regulations. These tools allow organizations to identify potential security risks and vulnerabilities in their systems, applications, and networks and take appropriate measures to mitigate or prevent them. Additionally, they provide real-time threat intelligence, automate security workflows, and integrate with other security tools, which ultimately improve the organization’s overall security posture. An example of a threat modeling tool commonly used by SMEs is the OWASP Threat Dragon. This free, open-source threat modeling tool helps organizations identify and prioritize potential security threats and vulnerabilities in their systems, applications, and networks. It uses a simple, visual approach to identify potential attack scenarios and allows organizations to create customized threat models based on their specific needs. The tool also guides how to mitigate or prevent identified security risks and vulnerabilities, making it accessible for SMEs with limited resources.
Unique Features in the Threat Modeling Tools Market
Using established threat libraries and algorithms, threat modelling tools automate the process of finding potential security threats and vulnerabilities within software applications and systems, providing a full assessment of the risk landscape.
These technologies frequently offer graphic depictions of the detected dangers and their connections, such as flowcharts, graphs, or diagrams, which help stakeholders comprehend and communicate security issues more effectively.
The possibility of security breaches and vulnerabilities in production systems is decreased when developers can do threat assessments and mitigate risks early in the development process thanks to the seamless integration of threat modelling tools with software development lifecycle (SDLC) processes.
Scenario-based analysis features in some threat modelling systems allow users to model possible attack scenarios and assess how well security controls and countermeasures work to mitigate threats and stop security events.
Multiple stakeholders, including developers, security analysts, and architects, can work together on threat modelling tasks, exchange insights, and monitor mitigation efforts in real-time with the help of these solutions that facilitate collaborative workflows.
Major Highlights of the Threat Modeling Tools Market
Rising cyber threats, data breaches, and regulatory compliance requirements are driving the worldwide cybersecurity concerns that are driving the market’s growth. As a result, organisations are investing in threat modelling tools to fortify their security posture.
Threat modelling solutions help organisations automate repetitive operations, interface with existing development tools, and speed up security testing procedures by leveraging automation and integration capabilities to improve threat assessment, risk analysis, and mitigation efforts.
Threat modelling tools are in high demand as a result of regulatory compliance requirements like GDPR, HIPAA, PCI DSS, and others that force organisations to undertake risk assessments, deploy security measures, and prove compliance with data protection standards.
Threat modelling tools are developing to support cloud-native and hybrid infrastructure settings as they become more widely used. These tools may evaluate security threats across serverless architectures, containers, microservices, and cloud services.
Organisations are prioritising application security testing and investing in threat modelling tools to proactively detect and resolve security vulnerabilities due to increased knowledge of application security concerns, such as injection attacks, authentication bypass, and OWASP Top 10 vulnerabilities.
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Competitive Overview:
The key players have adopted various growth strategies such as partnerships, agreements, collaborations, acquisitions, and product developments to increase their market presence.
Cisco Systems is a prominent player in the development and provision of hardware, software, and services that enable the creation of internet solutions. These solutions make it easy to access information from anywhere and at any time. Cisco provides a wide range of products and services, including those for networking, IoT, mobility and wireless, security, data center, and cloud computing. Their cloud solutions include a cloud operations platform, workload optimization, and application performance monitoring. Cisco also collaborates with ecosystem partners to create simple-to-use and quick-to-deploy solutions. The company offers proven threat modeling tools that work across different environments, thanks to its extensive ecosystem of software partners. Cisco Unified Computing provides servers that can safeguard data ranging from Terabytes to Petabytes. The company’s UCS manager streamlines the administration of computing, storage, networking, and infrastructure automation using policy-based systems. For instance, in October 2020, Cisco delivered several platform innovations, including enhanced capabilities in Extended Detection and Response (XDR), Zero Trust, and Secure Access Services Edge (SASE). In March 2020, Cisco and Microsoft Azure IoT partnered to simplify customer deployments so that they could connect their assets and securely send IoT data to the cloud.
Security Compass is the leading provider in the field of application security. It allows organizations to shift left and create secure applications by design that are seamlessly integrated with current DevSecOps tools and workflows. SD elements offered by the company help enterprises shorten the time it takes to market software and lower cyber risks by using an automated, developer-centric approach to threat modeling and secure development. The US Department of Defense, governmental organizations, top financial and technological companies, as well as well-known international brands across a range of industries, including manufacturing, IT, and finance, are served by Security Compass for their security requirements.
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