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(IT-NEWSWIRE.COM, January 06, 2018 ) According to the market research report on "Artificial Intelligence in Security Market by Offering (Hardware, Software, Service), Technology (Machine Learning, Context Awareness, NLP), Deployment Type, Security Type, Security Solution, End-User, and Geography - Global Forecast to 2025", the market is expected to be valued at USD 3.92 Billion in 2017 and is likely to reach USD 34.81 Billion by 2025, at a CAGR of 31.38% during the forecast period. High usage of the Internet and the constant need for employees to be online are contributing to the growth of this market. Another major factor driving the demand for AI-based security solutions is the shortage of cybersecurity professionals. Using AI-based solutions for cybersecurity covers much of the need for cybersecurity professionals.
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Software to hold the largest share of the AI in security market by 2025
Software holds a major share of the overall AI in security market owing to the developments in AI software and related software development kits. AI systems require different types of software, including application program interfaces, such as language, speech, vision, and sensor data, along with machine learning algorithms, to realize the applications for cybersecurity. The software platforms and solutions are available at higher costs as there are only a limited number of experts that develop machine learning algorithms. Companies such as Darktrace (UK), Cylance (US), Securonix (US), and IBM (US) are among the frontrunners in the development of software for the AI in security industry.
Market for cloud deployment to grow at a high rate between 2017 and 2025
The AI in security market for cloud deployment is growing at a high rate. Several businesses have already moved part of their operations to the cloud, which has led security vendors to develop cloud-based solutions as the data to be protected is on the cloud. Migrating to the cloud has benefits such as enhanced flexibility, control, and scalability. Cloud deployment significantly reduces the capital investment that is required to implement cybersecurity solutions; this is one of the major reasons for the increased demand for cloud-based cybersecurity from most enterprises. The cloud-based platform offers a unified way in the form of SaaS-based security services to secure business applications, which is beneficial for organizations that have strict budgets for security investments. Cloud deployment is preferred over on premise deployment as it is easy to maintain and upgrade.
North America to hold a major share of the AI in security market in 2017
North America holds a major share of the AI in security market owing to the presence of a large number of security vendors and increasing incidents of security breaches in this region. Cybersecurity is considered as the most serious economic and national security challenge by organizations sand governments in North America. The growing concern about the security of critical infrastructure and sensitive data has increased government intervention in the recent years. North America is home to a large number of leading technological firms, and hence, it is a key developer and early adopter of technologies. Incentives and funding from governments play a major role in the development of these technologies.
The companies covered in the report on the AI in security market are NVIDIA (US), Intel (US), IBM (US), Micron (US), Samsung (South Korea), Xilinx (US), Amazon (US), Cylance (US), Securonix (US), ThreatMetrix (US), Sift Science (US), Acalvio (US), Skycure (US), Darktrace (UK), and SparkCognition (US). Some of the key companies that provide antivirus are McAffee (US), Kaspersky (Russia), Bitdefender (Romania), and ESET (Slovakia). A few key innovators included in the report are High-Tech Bridge (Switzerland), Deep Instinct (Israel), SentinelOne (US), Feedzai (US), Vectra Networks (US), Zimperium (US), Fortscale (US), Argus Cyber Security (Israel), Nozomi Networks (US), Indegy (US), and Bitsight Technologies (US).
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