Artificial Intelligence in Security Market Size, Share, Growth, Latest Trends, Global Forecast 2027

 

Market Highlights

The artificial intelligence in security market will touch USD 23 billion at a whopping 31.86% CAGR between the forecast period 2019- 2024, states the recent Market Research Future (MRFR) analysis. Artificial intelligence is the creation of computer systems which can perform tasks that need human intelligence like translation between languages, decision-making, speech recognition, and visual perception. It is also used to control access to data, software, and hardware and also offers protection against damage and cyberattacks. 

Various factors are propelling the global artificial intelligence in security market share. According to the recent MRFR estimates, such factors include the growing adoption of connected devices, developments in computing power technology, developing deep learning technology and machine learning, rising cases of cyberattacks, growing adoption of cloud-based services and solutions, and government investment and support in R&D of AI technology. 

On the contrary, lack of skilled workforce, data privacy regulation, expertise, AI professionals, and IT technicians, absence of protocols and standards, rise in cyber threats, hardware and software security, advanced threats, and the impact of the COVID-19 pandemic are factors that may limit the artificial intelligence in security market growth during the forecast period. 

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Segmentation:

The MRFR report highlights an inclusive segmental analysis of the global artificial intelligence in security market based on vertical, technology, security type, deployment, and component. 

By component, the global artificial intelligence in security market is segmented into services, hardware, and software. The hardware segment is again segmented into network, memory, and processors. The software segment is again segmented into platforms and solutions. The solutions segment is again segmented into unified threat management, encryption, risk and compliance management, identity and access management, antivirus, and others. Of these, the antivirus segment will lead the market over the forecast period. 

By deployment, the global artificial intelligence in security market is segmented into on-cloud and on-premise. Of these, the on-premise segment will dominate the market over the forecast period and at a high CAGR. 

By security type, the global artificial intelligence in security market is segmented into cloud security, application security, network security, and endpoint security. Of these, the network security segment will spearhead the market over the forecast period. 

By technology, the global artificial intelligence in security market is segmented into context aware computing, natural language processing, and machine learning. Of these, machine learning will command the largest share in the market over the forecast period. 

By vertical, the global artificial intelligence in security market is segmented into healthcare, automotive and transportation, manufacturing, retail, government, BFSI, and others. 

Regional Analysis 

By region, the artificial intelligence in security market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Initiatives by the government such as investments to develop AI technology, presence of several key players, the availability of skilled expertise, rising adoption of solutions that are AI based by different verticals like manufacturing, retail, government, and BFSI, increase in mobile malware attacks, rising use of connected devices, and huge investments made by key players in the US to prevent cybersecurity threats are adding to the artificial intelligence in security market growth in the region. 

In the APAC region, the artificial intelligence in security market is predicted to have healthy growth over the forecast period. Increasing funds in AI by the government of China, development of skilled expertise in deep learning technology and machine learning, and development & deployment of artificial intelligence in security and government applications, and adoption by large and SMEs to ensure security against cyber-attacks are adding to the global artificial intelligence in security market growth in the region. 

In Europe, the artificial intelligence in security market is predicted to have sound growth over the forecast period and in the RoW is predicted to have admirable growth over the forecast period. 

Key Players

Key players profiled in the global artificial intelligence in security industry report include BitSight Technologies, Indegy Ltd, Nozomi Networks, Inc., Argus Cyber Security, Zimperium, Inc., Vectra AI Inc., Feedzai, SentinelOne, Deep Instinct, Sparkcognition, Inc., Darktrace, Symantec Corporation, Acalvio Technologies, Inc., Securonix, Inc., LexisNexis Risk Solutions Inc., Cylance Inc., Micron Technologies, Inc., Xilinx Inc., Google, IBM Corporation, Samsung Electronics, Intel Corporation, and Nvidia Corporation. 

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Artificial Intelligence (AI) in Security Market: Information by Vertical (Government, BFSI, Healthcare, Manufacturing and Retail), Component (Services, Hardware [Network, Memory and Processor] and Software [Platform and Solution {Antivirus, Encryption, Network Security and Identity Access Management}]), Technology (Machine Learning, Natural Language Processing and Context Aware Computing), Deployment (On-Cloud and On-Premise),Security Type (Network Security, Cloud Security and Endpoint Security) and Region (North America, Europe, Asia-Pacific and ROW) - Forecast till 2024

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