Artificial Intelligence in Security Market Revenue, Challenges and Analysis

Posted by Ehtesham Peerzade on March 16th, 2021

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.

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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

As per the analysis, the North American market is leading the market at a global level. Owing to the fast adoption of advanced technologies such as big data and artificial intelligence, developed nations like Canada and the US are contributing significantly. The government of these countries is actively supporting AI by implementing specific rules and regulations. The intense research and development of AI and its application areas have propelled the AI market. Europe attains the second position in the global artificial intelligence in the security market. Germany and the UK are the prime countries contributing significantly in the revenue generation. The research and development of AI in the region is robust which has proven to be beneficial for the existing enterprises. The APAC region is likely to register the highest CAGR. The emerging economies such as India, Japan, China, and South Korea are the major contributors in the expansion of the market.  Increased adoption of IoT, cloud-based technology is the key factor in expanding the market. China is the leading market in APAC region. The RoW is estimated to exhibit a steady growth rate.

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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