Artificial Intelligence Based Security Market is primarily driven by surge in number of connected devices across the world - TMR Insights

Global Artificial Intelligence Based Security Market: Brief Account

The global artificial intelligence based security market is predicted to grow at a strong rate during the forecast period 2018 – 2026, owing to increase in penetration of internet throughout the world. Gradual shift of enterprises towards adopting internet in order to perform most of the tasks through it is compelling employees to remain online for a longer time, thus growing the risks for cyberattacks and hacking. These have particularly helped the vendors in the artificial intelligence based security market to develop a better and enhanced artificial based security solutions. Artificial Intelligence or AI is a branch of computer science that uses speech recognition, translation between languages, and visual perception to make a machine work without any help from humans.

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Global Artificial Intelligence Based Security Market: Drivers and Restraints

One of the major factors that is helping the artificial intelligence based security market to grow is the surge in number of connected devices across the world. Artificial Intelligence in a security solution is expected to increase precision and efficiency of the system to notice any potential threat in system. Surge in number of mobile devices has significantly caused the networks to become more vulnerable to cybersattacks, thus increasing the demand for AI based security solutions. Growing inclination of government to adopt smart city concept is expected to bolster the artificial intelligence based security market growth. Growing awareness regarding various types of cyber threats such as phising, malware, denial, and password breaches are dissuading individuals’ to connect to any public WiFi. This is increasing the uptake of personal WiFi, which directly increases the demand for AI based security solutions.

The banking sector has noticed a significant rise in the adoption of IT solutions which has helped to improve the banking services. Growth in online transaction and surge in NEFT, RTGS, ECS, and mobile transactions is growing demand for secure solutions. Growing number of e-commerce websites, mobile application, and payment getaways which accepts store credit card, debit card, and online transactions are likely to increase the demand for artificial intelligence based security market. Furthermore, lack of cybersecurity professionals in the world.

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Global Artificial Intelligence Based Security Market: Regional Outlook

On the basis of geography, the artificial intelligence based security market is segregated into Europe, Latin America, Asia Pacific, Middle East and Africa, and North America. Of these North America, held the leading position and is predicted to dominate in the upcoming years owing to surge in cyber-attack cases. Cyber-attacks particularly in the U.S. is considered to contribute the most. On the other hand, Asia Pacific is expected to exhibit a steady growth due to surge in adoption of machine learning in the region.

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Global Artificial Intelligence Based Security Market: Companies Mentioned

Some of the major players in the artificial intelligence based security market are Cylance inc., IBM Corporation, Micron Technology, Nvidia Corporation, Samsung Electronics Co., and Acalvio Technologies.

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