Artificial Intelligence in Chatbot Security Market World's Top Players Include Maruti Techlabs, Inbenta Technologies, Inc., Nuance Communications, Inc., Next IT Corporation, Kore.ai, CreativeVirtual, Pypestream

The AI integrated with chatbot increases security and people sending the message over the chatbot aid these in becoming more intuitive, more natural, and comfortable while chatting. Hence, AI increase the security level of data, which proportionally minimizes the threat of cyber threats. Therefore, these features will be one of the factors that helps in propelling growth of the market.

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Proliferation of smart phones and other connected devices is the major factor driving growth of the market

Rising adoption of smart devices, including smart phones, is expected to drive growth of the global artificial intelligence market in chatbot security market during the forecast period. Growing adoption of smart phones is increasing the scope for mobile advertising, including SMS & MMS advertising, mobile web, mobile video & television, and several online advertising channels; dependency on social networking sites is increasing; and the requirement for on-demand services such as videos, online messaging applications, video chat, and voice calls, at anytime and anywhere is also rising.

These are powerful tools for effective real-time communication. For instance, according to Coherent Market Insights’ analysis, as of 2017, 19% of organizations including retail and financial had deployed AI Chatbot. For instance, NanoRep is an AI based Chabot application that is used for understanding customer issues by monitoring voices of the customer and after applying the analytics it provides valuable solution to the customers.

Increasing utilization and dependency on the internet is expected to increase the risk of cyber-attacks. Artificial intelligence can be used to prevent security issues by providing user authentication in smart phones. Artificial intelligence-based security solutions is a combination of machine learning technology and biometrics, with the capability to identify user behaviour to improve usability and self-service ability. A smart phone integrated with artificial intelligence can capture the pattern of walk, application of pressure to the screen, scroll, and type, without the need for passwords.

Global Artificial Intelligence in Chatbot Security Market: Regional Insights

North America held a dominant position in the global artificial intelligence market in chatbot security in 2016, and is expected to retain its dominance throughout the forecast period. This growth is attributed to rising cyber-attacks in this region. U.S. accounted for the major market share in the region, owing to increasing cyber-attacks on industries such as healthcare, banking and financial, and retail and manufacturing.

The market in Asia Pacific is estimated to exhibit the highest CAGR over the forecast period. This is attributed to rising adoption of machine learning and natural language processing technologies as well as increasing number of 5G pilot projects in the region. These features of AI integrated Chabot deliver more accurate result to the users. Therefore, adoption of AI based Chabot is expected to increase in various verticals in order to improve accuracy of the system, which has fuelled growth of the market.

Global Artificial Intelligence in Chatbot Security Market: Competitive Background

Major players operating in the artificial intelligence in chatbot security market are Maruti Techlabs, Inbenta Technologies, Inc., Nuance Communications, Inc., Next IT Corporation, Kore.ai, Inc., CreativeVirtual, Pypestream, Nano Rep, Inc., Mindmeld, Inc. and Ubisend.

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Global Artificial Intelligence in Chatbot Security Market: Taxonomy

On basis of security type
• Network Security
• Endpoint Security
• Application Security
• Cloud Security

On basis of solutions
• Identity and Access Management (IAM)
• Risk and Compliance Management
• Encryption
• Data Loss Prevention (DLP)
• Unified Threat Management (UTM)
• Antivirus/Antimalware
• Intrusion Detection/Prevention System (IDS/IPS)
• Others

On basis of technology
• Machine Learning
• Context Awareness Computing
• Natural Language Processing

On basis of vertical
• Government & Defense
• Consumer Electronics
• BFSI
• Enterprise
• Infrastructure
• Automotive & Transportation
• Healthcare
• Retail
• Manufacturing

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This release was published on openPR.