The global counter surveillance market is evaluated at US$1.068 billion for the year 2020 growing at a CAGR of 11.24% reaching the market size of US$2.023 billion by the year 2026. Counter surveillance is a combined term used for the methods used to prevent the surveillance of an individual from another for criminal purposes. With the evolving technology, the rate of generation of data has increased exponentially. This data is being used for various purposes by different companies, for instance, to understand their customer better, serve them in a more customised manner or keep a track of the service being provided to them and several others. Moreover, with the technological developments happening in every sector, the size of the devices a consumer use every day has decreased significantly over the years. Even though a lot of research and developments are being taken place to keep the privacy of a consumer safe, there have been cases of data breach, cyber-attacks and other cybercrimes through which the criminal can keep a track of the victim and steal important data and even their identity. The methods to prevent all of this from happening and thereby being able to monitor any such malicious attacks come under counter-surveillance. The counter-surveillance market is being driven by the rapid generation of consumers data and thus the increasing tendency of a data breach and similar such cyber-crimes.
FIGURE: GLOBAL COUNTER SURVEILLANCE market, US$ billion, 2020 to 2026
Source: Knowledge Sourcing Intelligence Analysis, Sample Figure
A key factor driving the market for counter surveillance is the rising concern about data breaches and identity theft which have increased over the years owing to the rapid pace of data generation across several platforms, sectors and countries. For instance, according to the Identity Theft Resource Center's End-of-Year 2019 Data Breach Report, the total number of cases of data breach reached 1473 which is about a 17% increase as compared to that in the previous year. Furthermore, one of the biggest breaches in history occurred in the United States in the year 2019. A major purpose for which the hackers do these data breaches is to sell the personal information of the victims, the personal information stolen can be further used for identity theft, used for extortion and other such purposes. The increasing awareness about data security and privacy amongst the customers of different data-driven platforms is expected to drive the market during the forecast period.
The advent of COVID-19 had a positive impact on the global counter surveillance market since the pandemic brought the industrial activities and other operations on a digital platform making it easier for hackers to access the data. The sudden change of business operations worldwide from a physical platform to a digital one during the pandemic owing to the strict protocols being set by the governments across several countries has created more security vulnerabilities which have led to a rapid increase in the data attacks during the pandemic. According to a report done by Interpol’s private sector partner, about 907,000 spam messages, 737 incidents related to the malware and 48,000 malicious URLs – all related to COVID-19 were detected during a four-month period of January to April. This has given rise to more companies and individuals opting for counter surveillance solutions. The increased dependency of people around the world on online platforms has created several opportunities for hackers to attack, track and steal. The distribution of the key COVID-19 inflicted cyber threats based on member countries’ feedback depicted, 22% malicious domains, 36% malware/ransomware, about 14% fake news and 59% phishing, scam and fraud. The market for counter-surveillance solutions spiked during the pandemic owing to an increased number of such cases which led to a rise in the fear of data loss by several companies as well.
The segmentation of the global counter surveillance market has been done into a type of solution, end-user and geography. By type of solution, the classification of the market has been done into software and services. By end-user, the classification of the market has been done into Government, Personal security, BFSI, Retail and Others. Furthermore, based on geography, the global market has been distributed as North America, South America, Europe, Middle East and Africa, and the Asia Pacific.
Increased number of cybercrimes cases is expected to drive the market during the forecast period
The growth of the counter surveillance market is fuelled by a significant increase in the number of cybercrimes cases at a global level. With the increase in the rate of data generation over several platforms, the opportunities for hackers has increased as well. As a result, there has been an increasing concern about data security and identity theft which has led to a rapid increase in the demand for different counter surveillance solutions. According to a report done by the purples company, total malware infections has witnessed a continuous rise in the last ten years with about 165.81 million in the year 2013 and rising to 812.67 million by the year 2018. This has increased the concern amongst various companies to adopt counter surveillance solutions to prevent such attacks in the future. Furthermore, according to the report the total amount of identity theft attacks accounted up to an average of 65% of the total number of data breach cases globally. The need for counter surveillance increased in several industries during the year 2020 wherein an ample number of businesses shifted to online/ digital operations which led to an increased pace of data generation and more vulnerability to hackers.
Investments in cybersecurity start-ups and the sector itself will be a tailwind to the market in the coming years
The market is expected to witness a significant increase during the forecast period owing to the increasing investment being done in the sector. The investments also include the funds raised by various start-ups to develop better security solutions for their customers. With the rapid technological developments taking place in various sectors, digital penetration has increase multi-fold over the years which has led to an exponential rise in data generation across various sectors and industries due to which various investments are being done to secure important data from theft. For instance, a start-up SentinelOne, California, a United States-based start-up raised about US$ 267 Million in November 2020 in the series F funding round. The company aims to shape the future of endpoint security with an integrated platform that combines behavioural-based detection, advanced mitigation, and forensics to stop threats in real-time. Several other cybersecurity start-ups were funded during the conference. Innovations in cybersecurity solutions owing to the investments being done in the sector will drive the market during the forecast period.
Figure: Global COUNTER SURVEILLANCE market share, by geography
Source: Knowledge Sourcing Intelligence Analysis
The players in the global COUNTER SURVEILLANCE market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.