Cognitive Security Market in IT & Telecommunication to Reach $3.68 billion by 2023
With the rapidly evolving technology innovation landscape, the growing shift toward digitalization and the increasing number of cyber-attacks are fueling the growth of the cognitive security market in IT & Telecommunications.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Cognitive Security Market in IT & Telecommunication: Global Drivers, Restraints, Opportunities, Trends, and Forecasts, 2017–2023” (November 2017).
According to Infoholic Research, North America will witness a high growth rate in the cognitive security market in IT & Telecommunication. As per the analysis and in-depth study, North America has the highest market share primarily owing to better network infrastructure, higher technology implementation, and growing digitalization. The cognitive security market in IT & Telecommunication is expected to grow at a CAGR of 30.36% during the forecast period 2017–2023.
The major deployment modes used are cloud and on-premises. The wide expansion of cloud services in the recent years has been boosting various innovative organizations across the globe for the adoption of the cognitive service solutions. Moreover, cognitive security is gaining momentum in cloud as organizations seek to increase their business productivity by moving from on-premises to cloud-based. In addition, with the initial low cost, less expense in infrastructure, and automatic software upgrading and seamless integration, are propelling the growth of the cloud-based cognitive security market.
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The key driver fueling the growth of the market is the growing number of cyber-attacks occurring on the cloud. With this, the growth in usage of cognitive security services has been widely increasing for data storage of confidential and private data of an organization. The rise in employee mobility is also expected to propel the growth of this market during the forecast period (2017-2023).
“In the current scenario, cognitive security is in the nascent stage of development. The market will witness high growth across the globe due to the impetus gain of online markets. In addition, there is an increase in the adoption of the Internet and smartphones which access data from the cloud. To secure this data which are being transferred by the IT and Telecom sector, there is an increase in the need for cloud security. This contributes to the progress of the cognitive security market. The cloud-based deployment model will grab the major market share during next 3-4 years across the globe due to the rapidly increasing implementation of cloud-based cognitive security solutions by organizations (small and medium enterprises).” Priyanka Yadav, Research Analyst at Infoholic Research
The Americas is the leading region for the cognitive security market in IT & Telecommunication followed by APAC and EMEA. The market growth in APAC is expected to witness growth due to an increase in the development of data centers, increase in facilities by telecom providers, and the increasing penetration rate of Internet devices and government initiatives. Moreover, the countries covered in the report are Canada, France, the US, China, India, Japan, and Germany. Japan, the US, and China are expected to grow at a high rate during the forecast period (2017-2023), due to several benefits that include automated threat intelligence and prevention techniques, and fraud analysis and investigation of data.
Buy complete report on Cognitive Security Market in IT & Telecommunication: Global Drivers, Restraints, Opportunities, Trends, and Forecasts, 2017–2023
The report aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the cognitive security market in IT & Telecommunication during the forecast period 2017–2023. It also provides an in-depth analysis and forecast about the industry covering the following key features.
In addition, the report not only highlights the users’ conundrum (challenges and barriers of cognitive security), but also brings in their perspective on the worldwide cognitive security market.
- The report is analyzed based on Deployment type, Organization type, Regions and Countries
- The report covers the evolution of features, advantages, and its importance
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2017–2023)
- The report contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape, which includes vendor assessment
- The report covers major deployment types, namely cloud and on-premises
- The report covers various types of organizations: SMEs and Large enterprises
- The report covers an analysis of countries such as China, India, Japan, Germany, US, France, and Canada
Ms. Sunanda Ganguli
Infoholic Research LLP