Since OSINT integration in agencies, businesses leverage their capabilities to gain access to high speed & volume of information and raw historical records. With the help of OSINT, enterprises can then assess the complete information from a hacker’s point of view to determine which all tools and techniques they would need to set up a virtual lab to protect their businesses.
The global open source intelligence market is gaining significant momentum. Open-source intelligence (OSINT) technology is witnessing vast market prominence, with increasing adoption in businesses and government organizations worldwide. Enterprises are rapidly integrating OSINT into their systems to boost their businesses by utilizing information available in the public domain.
Citing the growing popularity of OSINT among growing numbers of corporations and government agencies. Market Research Future (MRFR) expects the global open-source intelligence market to expand at a 20.6% CAGR from 2021 to 2030. In 2020, the open-source intelligence (OSINT) market valuation was settled at USD 32.86 Billion.
Open Source Intelligence (OSINT) allows analyzing data gathered from open sources/public domain to produce actionable intelligence. The main idea behind OSINT involves collecting, analyzing, and generating actionable insights from publicly available sources. It is hard to underestimate the value that OSINT plays in modern intelligence gathering.
OSINT plays a crucial role in warlike situations to actively boost countering efforts. By simply browsing the web, countries/ defense personnel/law enforcement can identify enemy’s/opposite party’s troop movements, weapons used, and war crimes they have committed. Government officials seek publicly available information to gain real-time geospatial data to help support their armed forces/law enforcement with actionable intelligence on disturbing activities/terrorism.
Importance of OSINT
The benefits of OSINT are immense when collecting and analyzing government-based transactions. Open-source methods help experts in internet-based criminal investigation, while Police and Private investigators utilize OSINT techniques for crime investigations and locate criminal individuals. Anybody from the public or private sectors involved in the information collection for intelligence purposes, including law enforcement officials, corporate security, journalists, and human resources, use OSINT methods.
OSINT is a cost-effective and minimally intrusive course of action, freeing resources for insights that are not available on open-source. Since OSINT collects information readily available on the internet, there is no extra cost. Besides, it is legal to use open-source methods to obtain information, and there is no violation of privacy laws or breaching. Since the data is publically available at large and free to access, there is no issue with the legality of the data.
Companies unlock the true potential of open-source intelligence to drive branding & monitoring exercises, enhance customer experience, campaign evaluation, and competitor/competition analysis. With the advances in AI and its ability to collect efficient data related to public sentiments, company branding exercises have undergone remarkable transformations.
Customer satisfaction plays a causal role in business growth, and organizations invest heavily to boost customer reviews and experiences. OSINT enables collecting and analyzing large volumes of reviews and outputs intelligent information capable of complementing strategies that enhance customer satisfaction. Resultantly, OSINT is drawing increasing interest from brands and venture capitalists.
How does OSINT impacts business
Businesses heavily invest in implementing customer analytics technology, AI-based sentiment algorithms, and big data analytics to gain a competitive advantage. Besides, increasing competition creates significant opportunities, making OSINT imperative for businesses to collect efficient data and better understand customer sentiments, leading to customer satisfaction.
Competitor/competition analysis enables organizations to understand where the market is heading in terms of competitors. OSINT helps businesses streamline the market analysis and enhance their understanding of trends & sentiments associated with competitive products. Also, the timely evaluations of campaigns or drives that have become indispensable for businesses to plan marketing strategies re-establish the importance of OSINT in monitoring the campaigns’ success rates.
As the internet world expands and accumulates enormous volumes of data. OSINT is expected to emerge as an essential tool amongst organizations. Since OSINT comes with its limitations, it is important to build strategies. To leverage its benefits to gain sustainable business growth.
Information security teams use open-source intelligence mainly for two reasons, discovering public-facing internal assets and identifying external information. Analysts use OSINT penetration testing to discover an organization’s publicly available assets. Penetration testing, also widely known as ethical hacking, involves testing and identifying cybersecurity vulnerabilities of a computer system, network, or web application.
Identifying external threats is particularly important for organizations in securing their third-party transactions. Therefore, organizations consider external cyber threats. When assessing attack surfaces for their third-party risk management program vulnerable to common attack vectors.
North America is the largest market for OSINT
North America is the dominating market for open-source intelligence. Factors such as the large base of key OSINT providers and increasing OSINT applications in military & defense, homeland security, private & public sectors, and national security. And other end-use cases in the region boost the market size. Also, favorable policies by federal governments and increased focus on data analytics for better management support bolster market revenues.
Organizations in this region bank on the latest technologies to simplify their operational processes. Additionally, the world-class infrastructure in this region impacts market growth positively. The strong presence of IT companies and big data analytics providers looking for rapid business expansion. The vast penetration of the internet and smart connected devices fosters market value.
Industry Players’ Strategies to Follow
Highly competitive, the OSINT market witnesses increasing numbers of new entrants. Market players invest heavily in R&D to develop advanced technologies and drive expansion and product launch activities.
Notable Industry Updates
On May 20, 2022, PwC, a leading global player in professional services, announced a partnership with Neotas, a due diligence start-up. To develop solutions to combat financial crimes. The partnership will enable PwC to integrate Neotas’ open-source intelligence platform with its financial services advisory expertise. This will enable PwC to combat core financial crimes and third-party risk challenges.
Neotas provides an enhanced due diligence platform, specializing in uncovering. And connecting disparate sources of information in an efficient and actionable manner. Neotas’ open-source intelligence (OSINT) technology helps clients assess and report on third parties’ financial, regulatory, compliance, and reputational risks.