The Artificial Intelligence in Security Market to Reach a Revenue of $11.95 Billion by 2024
BANGALORE, India – July 2018. Infoholic Research LLP, a global market research and consulting organization, has published a study titled “AI in Security Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024” (July 2018).
According to Infoholic Research, North America holds the largest market share of AI in security market in 2017 and is expected to dominate the market during the forecast period. The factors driving the growth of the market in this region includes the increasing stringent laws and regulations imposed by the government towards data privacy and security, increasing number of startups providing AI based security tools, increasing security breaches and advanced persistent threats in this region. The AI in Security Market is expected to grow at a CAGR of 34.9% during the forecast period 2018–2024.
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With the malwares getting intelligent day by day there is a need for artificial intelligence and machine learning techniques to counter attack such malicious software. Detection of malware plays a crucial role in cybersecurity. Most of the cyber-attacks will always result in financial damages affecting the new and upcoming opportunities, lost revenues, and customers.
With threats and malwares constantly evolving and becoming more sophisticated, artificial intelligence and machine learning techniques are being used for preventing these threats and making the organizations more secure. Artificial intelligence and its applications allows the users to protect any system by providing alerts to them in real-time so that the risk can be mitigated. Machine learning focuses on the improvement of the computer programs which learn by themselves by accessing the available data. There is always a huge volume of data available within the organizations which can be used to train these systems. With the technologies like AI and machine learning, the threats and malware can be proactively prevented rather than only be detected.
“Globally, the rise in connected devices and its applications, have made businesses more vulnerable and have increased challenges to assess the threat and consequently manage it at multiple frontiers. The advantages of AI in security is that even the small deviations can be captured which are not possible in traditional signature based approaches and closes vulnerabilities quickly. AI also poses a risk of hackers who are expected to misuse AI for building their own tools for offensive purposes.”–Sonam Chawla, Research Analyst at Infoholic Research
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AI in security plays an important role in various industries in detecting known as well as unknown threats. AI in security uses machine learning and techniques to uncover patterns from the unstructured data. AI analyses security related sensitive data to learn and understand the constantly evolving threats. With the use of artificial intelligence and its applications, data can be interpreted in a better way so that the organizations can detect vulnerabilities and security threats more effectively.
North America is the leading region for the AI in security market, followed by Europe and APAC. The market in the APAC region is expected to witness high growth, given the increasing IoT and bring your own device (BYOD) trends and rising awareness of benefits associated with AI based security tools. Among the countries covered in the report, the US, UK, India and China are expected to grow at a rapid rate during the forecast period due to the increasing need for security to avoid huge financial losses.
The report also aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the AI in security market during the forecast period 2018–2024. It also provides an in-depth analysis and forecast of the industry covering the following key features:
- The report not only highlights the challenges associated with AI in security market, but it also brings in the major vendors investing in this space to alleviate these challenges.
- The report is segmented based on Software Tools, Security Type, Applications, Verticals and Regions.
- The report covers the evolution of smart features, advantages, and importance of the technology in terms of future perspective.
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2024).
- The report contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies and competitive landscape, which includes vendor assessment.
- The report also covers an analysis of countries such as the US, Canada, UK, Germany, India, China, and Japan and RoW.