Artificial Intelligence in Security Market- Global Opportunity Analysis and Industry Forecast (2019-2024)
Meticulous Research®–leading global market research company
studying report titled “Artificial
Intelligence in Security Market by Offering (Hardware, Software, and Service), Security
Type (Network Security, Application Security), Technology (Machine Learning,
NLP and Context Awareness), Solution, End-User, and Region - Global Forecast
to 2024’’.
IoT
combines connectivity with sensors, devices, and people, enabling a form of a 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 passwords 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 the 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 artificial
intelligence in the security market significantly.
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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 2024
- by offering, security type, technology, solution, and end-user. The study
also evaluates industry competitors and analyzes the market at regional and
country level.
Application Security Segment to Witness Fastest Growth
through 2024
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 the security market. The large share of this segment is attributed to the rapidly
increasing number of connected devices worldwide. However, application security the segment is expected to register the highest growth rate since many
organizations have started using a large number of applications for their
business operations that are needed to be secured from threats.
Machine Learning to Provide Significant Growth
Opportunities
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.
Asia-Pacific: The Fastest Growing Regional Market
North
America commanded the largest share of the global artificial intelligence in the 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 cyber-attacks 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; an increasing number of 5G pilot projects
in the region.
Key Players in the Artificial Intelligence in Security
Market
The report includes an extensive assessment of the key strategic developments
adopted by leading market participants in the industry over the past 4 years
(2016-2019). For instance, in June 2018, ThreatMetrix has launched a new risk
engine API specifically to support 3DS 2.0 environments, enhancing risk-based
decisions for card-not-present transactions.
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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