Artificial Intelligence in Security Market Global Key Vendors, Segmentation, Applications, Sales Revenue, Development Strategy, Growth Potential, Analysis and Business Distribution | Corona-Virus Impact
As per the analysis by Market Research Future Reports (MRFR), the global artificial intelligence in the security market is likely to record 31.86% CAGR during the review period of 2019 to 2024. The current scenario across the globe, i.e., COVID-19, is believed to bring a substantial impact on global artificial intelligence in the 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.
The artificial intelligence (AI) in security market growth has been segmented on the basis of deployment, component, technology, security type, and vertical.
Considering component, the market has been divided into software and hardware. The hardware segment has been sub-segmented into processor, memory, and network. The network segment is expected to lead over the review period, holding a majority of the market’s share. The software segment has been divided into solutions and platforms. The solution segment has been further classified into antivirus, risk & compliance management, unified threat management, encryption, and identity & access management. The software segment is projected to gain traction for the market due to its multiple applications.
Considering deployment, the market has been segmented into on-cloud and on-premise. The on-premise segment, followed by the on-cloud segment is likely to exhibit a lucrative CAGR over the assessment period.
Based on the security type, the market has been segmented into endpoint security and network security. The network security segment is projected to dominate in the worldwide market. The endpoint security segment is anticipated to expand at an excellent growth rate across the evaluation period.
Considering technology, the market has been segmented into natural language processing and machine learning. Where the machine learning segment leads, the natural language processing segment is expected to strike an impressive CAGR through the review period.
By the vertical, the market has been segmented into Automotive & Transportation, BFSI, Retail, Healthcare, Government, Manufacturing, and others.
he 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.
As per the analysis, the North American market is leading the market at a global level. Owing to the fast adoption of advanced technologies such as big data and artificial intelligence, developed nations like Canada and the US are contributing significantly. The government of these countries is actively supporting AI by implementing specific rules and regulations. The intense research and development of AI and its application areas have propelled the AI market. Europe attains the second position in the global artificial intelligence in the security market. Germany and the UK are the prime countries contributing significantly in the revenue generation. The research and development of AI in the region is robust which has proven to be beneficial for the existing enterprises. The APAC region is likely to register the highest CAGR. The emerging economies such as India, Japan, China, and South Korea are the major contributors in the expansion of the market. Increased adoption of IoT, cloud-based technology is the key factor in expanding the market. China is the leading market in APAC region. The RoW is estimated to exhibit a steady growth rate.
BitSight Technologies, Intel Corporation, Nvidia Corporation, IBM Corporation, Samsung Electronics, Micron Technologies, Inc., Cylance Inc., Google, Xilinx Inc., LexisNexis Risk Solutions Inc., Acalvio Technologies, Inc., Securonix, Inc., Darktrace, Symantec Corporation, Deep Instinct, Sparkcognition, Inc., Vectra AI Inc., SentinelOne, Feedzai, Argus Cyber Security, Zimperium, Inc., Nozomi Networks, Inc., and Indegy Ltd.
ASEAN firms are gaining confidence in AI to battle cyber threats. This demonstrates that the market is likely to hold a bright future.
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