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.
Market Research Future (MRFR) states that the global artificial intelligence market is expected to thrive at a CAGR of 31.86% across the assessment period (2019-2024). In 2019, the market is valued at USD 4.97 billion. MRFR reveals that the market is estimated to value at USD 23 Billion by 2024.
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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.
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.
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.