Market Highlights
The Global Artificial Intelligence (AI) in Security Market was valued at USD 4.97 billion in 2018 and is expected to reach USD 23 Billion by 2024, registering a 31.86% CAGR during the forecast period of 2019–2024. Increasing adoption of connected devices, development in computing power technology, developing machine learning and deep learning technology, and increasing instances of cyberattacks are some of the major factors driving the growth of global artificial intelligence (AI) in security market.
Increasing adoption of cloud-based solutions and services and government support and investment in research and development of artificial intelligence technology are some of the contributing factors in the creation of fruitful opportunities for the market players in the coming years. However, software and hardware security, data integrity, model security, and data privacy are some of the primary challenges faced by the players in the global artificial intelligence (AI) in security market.
The rise in demand for automation of process and services across different enterprises is identified as the major factor that is surging the adoption of artificial intelligence technology. The escalation in incidences of security threats is augmenting the need for robust security infrastructure. The growing inclination of organizations towards deploying effortless and robust security solutions is expected to impel the global artificial intelligence in security market. Increase in cognizance about artificial technology, quick absorption of AI in security system of different industries, and intensifying faith of deployers in the technology are other factors that are expected to promote the market growth.
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Competitive Analysis:
Nvidia Corporation
Intel Corporation
Samsung Electronics
IBM Corporation
Google, Xilinx Inc.
Micron TechnologiesInc.
Cylance Inc.
LexisNexis Risk Solutions Inc.
Securonix, Inc.
Acalvio Technologies Inc.
Symantec Corporation
Sparkcognition Inc.
Segmentation:
Global artificial intelligence (AI) in security market has been segmented based on component, deployment, security type, technology, and vertical.
By component, the market has been bifurcated into hardware and software. The hardware segment includes processor, memory, and network and is leading the market with largest market share. The software segment is projected to gain high momentum in the coming years.
Based on deployment, the market has been branched into on-premise and on-cloud. The on-premise segment is currently leading the market, whereas, the on-cloud segment is expected to register a higher CAGR during the forecast period.
As per security type, the market has been divided into network security and endpoint security. The network security segment is dominating the market, whereas, the endpoint security segment is projected to register a high growth rate during the forecast period.
On the basis of technology, the market has been categorized as machine learning and natural language processing. The machine learning segment is dominating the global artificial intelligence (AI) security market, whereas, the natural language processing segment is projected to register a high CAGR during the forecast period.
By vertical, the BFSI segment is currently dominating the market, whereas, the healthcare segment is expected to register the highest growth rate during the forecast period 2019–2024.
Regional Analysis:
By region, the artificial intelligence in security market analysis covers Asia Pacific (APAC), Europe, North America, and the Rest of the World (Row).
Intensifying political disruptions in North America is surging the need for data protection across the government sector. The necessitates tightening the security infrastructure of the region. The early adoption of robust technology such as artificial intelligence is likely to push the North America market. A high flow of capital for R&D activities dedicated to enhancing the security infrastructure of the region is expected to boost the market growth. With automation trending, the market in APAC is likely to exhibit healthy growth.
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