Internet of Things (IoT), growing cyber-attacks, shortage of cybersecurity professionals, increasing cyber terrorism are the key factors driving the growth of this market. Growing adoption of Wi-Fi networks which are highly vulnerable to security threats, strict directives for information privacy, and rising variety of mobile malware attacks are also contributing towards the proliferation of AI in security. However, rapidly increasing corporate executive cyber threats, limited security budgets of companies, and inability of AI to stop zero-day and advanced threats are expected to hinder the growth of this market to some extent. On the other hand, lack of cybersecurity and AI professionals is one of the key challenges of this market.
Meticulous Research® – leading global market research company studying report titled “
Artificial Intelligence in Security Market by Offering (Hardware, Software, Service), Security Type (Network Security, Application Security), Technology (Machine Learning, NLP, Context Awareness), Solution, End-User, and Region – Global Forecast to 2027’’.
Artificial Intelligence in Security Market will increase at a CAGR of 22.9% from 2019 to 2027 to exceed market revenue beyond $50 billion by 2027. IoT combines connectivity with sensors, devices, and people, enabling a form of free-flowing conversation between man & machine and software & hardware. Whereas, AI is expected to make a huge impact on the economy by transforming enterprises into digital businesses and facilitating new business models, improving efficiency, and increasing employee-customer engagement and cybersecurity. Artificial intelligence power with IOT connectivity is used to protect and secure the network connecting IoT devices to back-end systems on the Internet. AI in security authenticates an IoT device by managing multiple users of a single device platform. Moreover, it ranges from simple pins or static password to more robust authentication mechanisms such as digital certificates, biometrics, and two-factor authentication. AI also aids in connecting the physical and digital world by tracking objects, collect data, analyze it, and take required action. Modern security AI can monitor activities of an object along with its progress in a specific time period. According to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes resulted in losses of over $1.33 billion, globally. Such exponential loss is expected to propel the demand for security solutions, thus propelling the growth of the artificial intelligence in security market significantly.
The artificial intelligence in security market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2027 – by offering, security type, technology, solution, and end-user. The study also evaluates industry competitors and analyzes the market at regional and country level.
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Based on security type, the market is segmented into endpoint security, network security, application security, and cloud security. In 2018, endpoint security accounted for the largest share of the global artificial intelligence in security market. The large share of this segment is attributed to the rapidly increasing number of connected devices worldwide. However, application security segment is expected to register the highest growth rate since many organizations have started using large number of applications for their business operations that are needed to be secured from threats.Geographically
Based on technology, the artificial intelligence in security market is segmented into machine learning, Natural Language Processing (NLP), and context awareness computing. Machine learning segment is expected to witness rapid growth during the forecast period, owing to its ability to collect and handle big data and quickly scan, parse, and react to anomalies. Machine learning can also help operators reverse engineer attacks to make improvements to their systems, by addressing and preventing attacks before they happen.
Geographically, North America commanded the largest share of the global artificial intelligence in security market in 2018, followed by Asia-Pacific, Europe, Latin America, and Middle East & Africa. However, Asia-Pacific is the fastest growing regional market due to the increasing incidents of cyberattacks and growing cyber-war; rising concerns about data security; rapid adoption of cybersecurity solutions and machine learning; high adoption of advanced technologies, such as IoT, big data analytics, and cloud computing; and increasing number of 5G pilot projects in the region.
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Scope of the AI in Security Market Report:
AI in Security Products
Hardware
Software
Services
AI in Security Types
Endpoint Security
Network Security
Application Security
Cloud Security
AI in Security Technologies
Machine Learning
Natural Language Processing (NLP)
Context Awareness Computing
AI in Security Solutions
Identity and Access Management (IAM)
Risk and Compliance Management
Encryption
Data Loss Prevention (DLP)
Unified Threat Management (UTM)
Antivirus/Antimalware
Intrusion Detection/Prevention System (IDS/IPS)
Others
AI in Security End-Users
Enterprise
BFSI
Government & Defense
Retail
Healthcare
Manufacturing
Automotive & Transportation
Infrastructure
Others
AI in Security Segmentation by Geography
North AmericaU.S.
Canada
Mexico
EuropeGermany
U.K.
France
Italy
Spain
Rest of Europe
Asia-PacificChina
Japan
South Korea
India
Australia
Rest of APAC
Rest of the WorldLatin America
Middle East & Africa
Key Players:
The major players operating in the global artificial intelligence in security market are Acalvio Technologies, Inc. (U.S.), Amazon.Com, Inc. (U.S.), Cylance Inc. (U.S.), Darktrace Limited (U.K), IBM Corporation (U.S.), Intel Corporation (U.S.), Micron Technology (U.S.), Nvidia Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Securonix, Inc. (U.S.), Sift Science (U.S.), Skycure Inc. (U.S.), Sparkcognition Inc. (U.S.), Threatmetrix Inc. (U.S.), and Xilinx Inc. (U.S.).
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