Global Artificial Intelligence in Cyber Security Market Report 2017: Analysis & Forecasts (2013-2023) - Network Security Accounted for the Largest Market During the Historical Period
DUBLIN, April 10, 2018 /PRNewswire/ --
The "Artificial Intelligence (AI) in Cyber Security Market by Service Type, by Technology, by Application, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global Artificial Intelligence in Cyber Security Market is expected to reach $18.2 billion by 2023.
As per the findings of the research, network security accounted for the largest market during the historical period, and is expected to grow at a CAGR 34.5% during the forecast period in the artificial intelligence in cyber security market. Growth of network security market is predominantly driven by the upsurge in the adoption of wireless networks and their susceptibilities, as establishments nowadays are increasingly depending on wireless networks for data transfer.
On the basis of technology, machine learning is gaining traction in the artificial intelligence in cyber security market, and is projected to cross $6 billion by 2023. The larger revenue share of machine learning is mainly attributed to better threat learning algorithm using voluminous data to protect businesses.
During the forecast period, the fastest growth in artificial intelligence in cyber security market is expected in Asia-Pacific, owing to the increasing incidence of cyber-attacks. High value targets in a less secure environment have made this region a potential target for cyber-criminals.
The artificial intelligence in cyber security market has been escalating with the rising incidence of cyber-crimes, where AI plays a vital role to combat cyber-attacks. Cyber-frauds such as identity and payment card thefts, account for over 55% of all cybercrimes, and may become costly for organizations if not resolved quickly. AI offers solutions to combat cyber fraud by detecting threats, reducing response time, and refining techniques to distinguish attacks that require immediate attention. In an inter-connected business ecosystem, where business interacts with multiple systems across regions; there are high chances that organizations' digital landscape may get compromised during global interaction, leading to cyber fraud and malicious attacks.
Use of cloud to combat cyber-crimes through AI is gaining traction with some of the major companies investing heavily in AI capabilities for cognitive computing. AI not only improves current cloud platform incumbency, but also empowers new generation of cloud computing technologies to mitigate security risk. This factor will drive growth for artificial intelligence in cyber security market.
Lack of trust on technology is one of the major factors hindering the growth of artificial intelligence in cyber security market. At times, machine gets biased because the data that is fed may not be detailed and structured. People are more concerned about how AI system arrives at any conclusion or recommendation. The cyber world is facing more sophisticated and organised attacks with the number of cases rising on yearly basis. Lack of trust on AI to overcome cyber threat will further aggravate the situation and may result in huge spending getting washed away by using manual processes.
The research states that the artificial intelligence in cyber security market is moderately competitive, with players offering advanced technology solutions to overcome cyber challenges. Some of the major players in the artificial intelligence in cyber security industry are BAE Systems Plc, RSA Security LLC, IBM Corporation, Symantec Corporation, Palo Alto Networks, Inc., Fortinet, Inc., FireEye, Inc., Check Point Software Technologies Ltd, Cisco Systems Inc., and Juniper Networks, Inc. Most of the vendors are actively focusing on enhancing their offerings to meet the ongoing demand to combat cyber-attacks, globally.
Market Dynamics
Trends
- Rising adoption of chatbots to combat cyber attacks
- Growing usage of cloud in cyber security
Drivers
- Increasing number of cyber frauds and malicious attacks
- Adoption of Bring Your Own Device (BYOD)
- Impact analysis of drivers on market forecast
Restraints
- Lack of trust on technology
- Safety & privacy issues related to artificial intelligence in cyber security
- Impact analysis of restraints on market forecast
Opportunities
- Increasing interaction between human and artificial intelligence to overcome cyber threats
- Emergence of super intelligent artificial intelligence in cyber security
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. MEA Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
- BAE Systems, Plc.
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- FireEye, Inc.
- Fortinet, Inc.
- IBM Corporation
- Juniper Network, Inc.
- Palo Alto Networks, Inc.
- RSA Security LLC
- Symantec Corporation
For more information about this report visit https://www.researchandmarkets.com/research/35scht/global_artificial?w=5
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SOURCE Research and Markets
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