More and more
companies across the globe are depending on IT systems for their operations, thus
leading to an increase in cyber threats and security breaches. With AI
continuing to evolve, the cyberattacks are also getting more sophisticated.
Increased number of connected devices and the need for connectivity has also
led to the increase in the number of threats. Therefore, companies are now
adopting artificial intelligence, which can prove to be huge gamer-changer for
countering these cyberattacks in an efficient and effective manner. However,
with more AI-enabled products and services coming into the market, businesses
and organizations need to be well prepared to tackle these threats and security
breaches. The global market for artificial intelligence in security is expected
to witness a huge growth in the near future.
Market overview
The global artificial intelligence in security market that was valued at USD 3.92 Billion in 2017 is expected
to reach a value of USD 34.81 Billion by 2025, growing at a high CAGR of 31.38%
between 2017 and 2025.
Based on
offering, the software segment is expected to account for the highest share of
this market, mainly due to the continuous developments in AI software and other
related software development kits. Among deployment type, the market for cloud
deployment is projected to witness a higher growth over the forecast period,
since several businesses have already adopted and moved parts of their
operations to the cloud, which in turn is leading security vendors to come up
with cloud-based solutions in order to protect the data stored on the cloud.
On the basis
of technology security type, the application security segment is estimated to
grow at the highest CAGR between 2017 and 2025, owing to the increased use of a
large number of applications by various organizations for their business
operations that are vulnerable to threats.
Among end-users,
the enterprise industry holds the largest market share, owing to the growing
integration of IT in daily activities of various industries, governments, and
consumers coupled with the increasing sophistication levels of cyberattacks.
Which
region is expected to be the leading market, and why?
Among
regions, the market for AI in security in North America currently holds a major
chunk of the share of the total market, mainly owing to the presence of a various
security vendors and rising incidences of security breaches and threats in this
region. With cybersecurity being one of the most serious economic and national
security challenge for organizations and governments in North America, it has
been an early adopter of various technologies. The rising concern regarding the
security of critical infrastructure and sensitive data has also led to an
increased intervention from the government in the past few years. Increased incentives
and funding from governments is also expected to play a vital role in the
development of these technologies.
However, the AI
in security market in APAC is projected to grow at a high rate over the
forecast period. This growth can be majorly contributed to the SMEs and large
enterprises in this region that are increasingly adopting cybersecurity
solutions in order to secure their networks, web, and mobile applications. Moreover,
high adoption rate of advanced technologies, such as IoT, big data analytics,
and cloud computing, and growing concerns related to data security are also expected
to drive this market towards good growth ahead.
What are the factors driving and restraining the
market growth?
·
Growing adoption of IoT,
big data, and cloud computing
·
Increased need for
connectivity and also the number of connected devices
·
Growing number of mobile
malware attacks
·
High vulnerability of
Wi-Fi networks to security threats and attacks
·
Increasing cyber
terrorism
·
Stringent directives and
regulations for data privacy
Additionally, rising adoption of
cloud-based services and applications and increased usage of social media for
business are also expected to further create ample growth opportunities for
this market.
On the downside, the inability of AI to
stop zero-day and advanced threats and increasing number of insider cyber
threats are the major factors expected to act as deterrents for the growth of
this market. Moreover, lack of cybersecurity and AI professionals and limited
security budgets are the key challenges to be tackled by the players involved
in this market.
Key
players and strategies adopted for sustenance
The major companies
operating in the global artificial intelligence in security market are NVIDIA
(US), Intel (US), IBM (US), Micron (US), Samsung (South Korea), Xilinx (US),
Amazon (US), Cylance (US), Securonix (US), ThreatMetrix (US), Sift Science
(US), Acalvio (US), Skycure (US), Darktrace (UK), and SparkCognition (US).
These companies are adopting strategies such as new product launches &
developments, joint ventures, collaborations, agreements, contracts, partnerships,
and mergers & acquisitions in order to witness sustained growth in the
market.
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