The Artificial Intelligence in Security market was valued at USD 5.08 billion in 2019 and is expected to reach USD 14.18 billion by 2025, at a CAGR of 18.64% over the forecast period 2020 - 2025. The U.S. National Defense Strategy, released in January 2018, identified artificial intelligence as one of the key technologies that will “ensure the United States will be able to fight and win the wars of the future". AI has a number of unique characteristics which is helping it to get into the security arena.
- - With the rise in connected enterprises, devices, and applications, businesses are becoming more vulnerable as they are connected to a mass of independent endpoints. Therefore, AI in security provides an enticing proposition with its proactive threat mitigation capabilities which are needed for constant supervision and adaptation to the multifaceted security vulnerabilities faced by the modern digitalized economy.
- - AI and its applications allow the users to protect any system by providing alerts to them in real-time so that the risk can be mitigated. With the data available within the organizations are being used to train these systems. With the implementation of machine learning with AI, the threats and malware can be proactively prevented rather than only be detected. This helps in creating a huge market opportunity for artificial intelligence in the security market during the forecasted period.
- - However, due to the dearth of skilled AI professionals and lack of awareness is restraining about this feild the market to grow during the forecast period.
Scope of the Report
AI for security solutions involves the integration of endpoint data and analytics to gain threat intelligence, which aid to detect and expose an attack in a particular environment. With the growth in online transactions and a surge in NEFT, RTGS, coupled with mobile transactions are growing demand for security solutions. Therefore, the banking sector has noticed a significant rise in the adoption of artificial intelligence based security solutions which has helped to improve banking services.
Key Market Trends
Antivirus/Anti-malware Offers Potential Growth
- - With the malware getting intelligent day by day there is a need for artificial intelligence and machine learning techniques to counter-attack such malicious software. Both antivirus and anti-malware fall under the broader term cybersecurity. Cybersecurity is increasingly becoming a headache for everyone from corporates executives to regular consumers, who are both targeted by phishing scams and hackers attempting to access sensitive information.
- - According to the Consumer Technology Association, 44% of organizations across the globe are implementing artificial intelligence applications to detect and deter security intrusions. Artificial intelligence in cybersecurity increases the efficiency and precision of the system to observe any potential threat in the organization's system.
- - Further, the gradual shift of enterprises towards adopting the internet in order to perform most of the tasks through it is compelling employees to remain online for a longer time and creating a lot of data, thus growing the risks for cyber attacks and hacking. Thus with machine learning and AI, that peak of data could be carved down in a fraction of time, which helps the enterprise to identify and recover from the security threat.
Asia-Pacific to Witness the Highest Growth
- - In Asia-pacific, great strides are being made in the digital economy. But it is also causing more threat-related opportunities. According to Cisco, companies receive 6 threats every minute in APAC and 51% of all cyber attacks resulted in a loss of more than USD 1 million.
- - The growing penetration of the internet and shift toward digitization of the internal processes have been instrumental in driving the adoption of cloud-based services. Alongside the digital transformation in the region, owing to ineffective cyber laws and lack of cybersecurity awareness, companies in Asia-Pacific have been found to be 80% more likely to be targeted by hackers as compared to other regions.
- - Moreover, many countries have passed regulations and created independent programs to create a “single source of truth” and provide banks and retailers with verified customer digital identities. Examples are, Malaysia’s MyKad, Singapore’s MyInfo and Thailand’s Digital ID, all designed to facilitate and speed up identity verification. This creates a huge scope for AI in the security market.
- - All the above factors are expected to help the artificial intelligence in the security market to grow in this region during the forecast period.
The artificial intelligence in security market is highly competitive and fragmented in nature as many new companies are coming with innovative technologies due to the rise in cyber attacks over the years. Artificial intelligence (AI) is a rapidly growing field of technology that is capturing the attention of commercial investors, defense intellectuals, policymakers, and international competitors. This is making this market more competitive in nature. A few players are IBM Corporation, Cisco Systems Inc, etc. Some recent developments are:
- - January 2018 - IBM and Salesforce expanded their partnership, by bringing together artificial intelligence and cloud computing platforms. This partnership is expected to expand IBM’s customer base in the cloud solutions segment.
- - January 2018 - Amazon's cloud business acquired Sqrrl, a security start-up with NSA roots. The founders of Sqrrl had previously worked for the US National Security Agency. This acquisition by the company is aimed at attaining business from US intelligence agencies.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Number of Security Frauds and Technology Penetration
4.3.2 Increasing Number of Malware Attacks (Ransomware) across Cloud Computing Ecosystem
4.4 Market Restraints
4.4.1 Lack of Skilled AI Professionals
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Security Type
5.1.1 Network Security
5.1.2 Application Security
5.1.3 Cloud Security
5.2 By Service
5.2.1 Professional Services
5.2.2 Managed Services
5.3 By Deployment
5.4 By End-user Industry
5.4.1 Government & Defense
5.4.6 Automotive & Transportation
5.4.7 Other End-user Industries
5.5.1 North America
5.5.4 Latin America
5.5.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Facebook Inc
6.1.3 F-Secure Corporation
6.1.4 Tech Mahindra Limited
6.1.5 Cisco Systems Inc
6.1.6 Nvidia Corporation
6.1.7 Samsung Electronics Co., Ltd
6.1.8 Xilinx, Inc
6.1.9 ThreatMetrix Inc (RELX Group)
6.1.10 Broadcom Inc. (Symantec Corporation)
6.1.11 Fortinet, Inc
6.1.12 Juniper Network, Inc
6.1.13 Micron Technology, Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 INVESTMENT ANALYSIS