The Artificial Intelligence in Security Market is segmented on the Basis of Application Type, Technology Type, Service Type and Regional Analysis. By Application Type this market is segmented on the basis of Intrusion Detection, Web Filtering, Anomaly Detection, Firewall, Data Loss Prevention and Distributed Denial of Services.
By Technology Type this market is segmented on the basis of Speech Recognition, Machine Learning, Image Processing and Natural Language Processing. By Service Type this market is segmented on the basis of Cloud Security, Data Security, Network Security, Identity & Access Security and Others. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific and Rest of the World.
As digital threats and cyber crimes are rising in number, security needs to be enhanced. Security now needs constant supervision and adaption to the current market scenarios. With the rise in connected enterprises, devices and applications, the businesses are becoming more vulnerable as they are connected to a mass of independent endpoints. AI in security provides an enticing proposition with its proactive threat mitigation capabilities which is needed for constant supervision and adaptation to the multifaceted security vulnerabilities faced by modern digitized economy.
With the increasing use of sophisticated techniques for cyber crimes, there is a rising need for AI based techniques to counter the threats from malicious software bots. AI can be used to fight against various cyber threats including spear phishing, watering hole attack, web shell, ransomware, DDoS attacks, and remote exploitation, by identifying and preventing them from proliferating into the systems. AI based security systems can analyze even those threats which have not occurred in the past unlike traditional based security systems.
Market Analysis:
According to Kenneth Research, the AI in security market is expected to reach $11.95 billion by 2024, growing at a CAGR of around 34.9% during the forecast period. The market is expected to witness a surge in the next few years, factors such as growing need of technologies like AI, machine learning and deep learning to tackle the evolving threats and advanced persistent threats which remains undetected within the network which steal the data, increasing number of security breaches and increasing BYOD trends has further pushed the growth of AI in security market during the forecast period.
Companies including IBM Corporation, Palo Alto Networks, Cylance are the key players in the Supply Chain Analytics market. IBM and MIT are investing in MIT-IBM Watson AI Lab which is focusing towards developing AI algorithms and new applications of AI in various fields such as healthcare and cybersecurity. Recently in 2018, Palo Alto Networks announced that it had acquired Israel-based Secdo to add endpoint detection and response (EDR) capabilities for its advanced endpoint protection and the application framework.
North America had the largest market share in 2017 and is expected to dominate the AI in security market during the forecast period. The market will experience a steep rise in this region. Factors driving the growth of the market in North America includes increasing government funding in this region, increasing IT security budgets which increased by more than 2% compared to the previous year, growing number of cyber-attacks, such as ransomware which has increased more than 50% worldwide with the US been the most affected country with ransomwares such as WannaCry and NotPetya, cryptojacking which disturbs the businesses financially and operationally, and growing presence of providers of AI based security solutions in the region.
One of the major advantage of using AI in security is that even the small deviations can be captured which were not possible in traditional signature based approaches. AI and machine learning applications can be used to fight against spear phishing, watering hole, webshell, ransomware, and remote exploitation by identifying the known as well as the unknown threats and preventing those threats before they can execute into the systems.
By Technology Type this market is segmented on the basis of Speech Recognition, Machine Learning, Image Processing and Natural Language Processing. By Service Type this market is segmented on the basis of Cloud Security, Data Security, Network Security, Identity & Access Security and Others. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific and Rest of the World.
As digital threats and cyber crimes are rising in number, security needs to be enhanced. Security now needs constant supervision and adaption to the current market scenarios. With the rise in connected enterprises, devices and applications, the businesses are becoming more vulnerable as they are connected to a mass of independent endpoints. AI in security provides an enticing proposition with its proactive threat mitigation capabilities which is needed for constant supervision and adaptation to the multifaceted security vulnerabilities faced by modern digitized economy.
With the increasing use of sophisticated techniques for cyber crimes, there is a rising need for AI based techniques to counter the threats from malicious software bots. AI can be used to fight against various cyber threats including spear phishing, watering hole attack, web shell, ransomware, DDoS attacks, and remote exploitation, by identifying and preventing them from proliferating into the systems. AI based security systems can analyze even those threats which have not occurred in the past unlike traditional based security systems.
Market Analysis:
According to Kenneth Research, the AI in security market is expected to reach $11.95 billion by 2024, growing at a CAGR of around 34.9% during the forecast period. The market is expected to witness a surge in the next few years, factors such as growing need of technologies like AI, machine learning and deep learning to tackle the evolving threats and advanced persistent threats which remains undetected within the network which steal the data, increasing number of security breaches and increasing BYOD trends has further pushed the growth of AI in security market during the forecast period.
Companies including IBM Corporation, Palo Alto Networks, Cylance are the key players in the Supply Chain Analytics market. IBM and MIT are investing in MIT-IBM Watson AI Lab which is focusing towards developing AI algorithms and new applications of AI in various fields such as healthcare and cybersecurity. Recently in 2018, Palo Alto Networks announced that it had acquired Israel-based Secdo to add endpoint detection and response (EDR) capabilities for its advanced endpoint protection and the application framework.
North America had the largest market share in 2017 and is expected to dominate the AI in security market during the forecast period. The market will experience a steep rise in this region. Factors driving the growth of the market in North America includes increasing government funding in this region, increasing IT security budgets which increased by more than 2% compared to the previous year, growing number of cyber-attacks, such as ransomware which has increased more than 50% worldwide with the US been the most affected country with ransomwares such as WannaCry and NotPetya, cryptojacking which disturbs the businesses financially and operationally, and growing presence of providers of AI based security solutions in the region.
One of the major advantage of using AI in security is that even the small deviations can be captured which were not possible in traditional signature based approaches. AI and machine learning applications can be used to fight against spear phishing, watering hole, webshell, ransomware, and remote exploitation by identifying the known as well as the unknown threats and preventing those threats before they can execute into the systems.
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