Artificial Intelligence in Security Market 2017 Size, Projections, SWOT Analysis, Product Research and Forecast by 2024 | Effects of COVID-19

Market Highlights

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 primary factors driving the AI are the rising malware attacks, increasing adoption of IoT and cloud-based services. The non-stop growth of the adoption of Wi-Fi that is vulnerable to security threats has helped the market to propel at a high pace. The increased adoption of connected devices has also resulted in the expansion of the market. The rising inclination towards technology has opened avenues for the expansion of artifical intelligence in the security market 2020. Apart from this, the development of computing power technology has resulted in the growth of the market. The development in machine learning and deep learning technology has aided the market to propel at a global level. However, lack of expertise, the rapidly increasing corporate executive cyber threats, inability of AI to prevent the advanced threats are the key factors preventing the market from expanding.

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.

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Segmentation:

The global artificial intelligence in the security market can be segmented on the basis of deployment, technology, vertical, component, security type, and region.

On the basis of deployment, global artificial intelligence in the security market can be divided into on-cloud and on-premise. The on-premise segment is the leading segment, and the on-cloud segment is likely to record a higher CAGR during the review period.

On the basis of technology, the global artificial intelligence in the security market can be divided into natural language processing and machine learning. The ML vertical is the leading vertical at a global level.

On the basis of vertical, the global artificial intelligence in the security market can be divided into BFSI, manufacturing, healthcare, government, automotive and transportation, retail, and others.

On the basis of components, global artificial intelligence in the security market can be divided into services, software, and hardware.

On the basis of security type, global artificial intelligence in the security market can be divided into endpoint security, network security, application security, and cloud security.

On the basis of region, the global artificial intelligence in security market can be divided into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).

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.

Key Players

The most important players of global artificial intelligence in security market are Symantec Corporation, Intel Corporation, Nvidia Corporation, Samsung Electronics, Google, IBM Corporation, Xilinx Inc., Cylance Inc., Micron Technologies, Inc., LexisNexis Risk Solutions Inc., Acalvio Technologies Inc., Securonix, Inc., and others.

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