The artificial intelligence (AI) based security market was valued at US$ 2.94 billion in 2016 and is projected to reach US$ 31.49 billion by 2025, exhibiting a CAGR of 30.25% during the forecast period, according to Artificial Intelligence-based Security Market, by Offering (Hardware, Software, and Services), by Deployment Type (Cloud and On-premise), by Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), by 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), and Others (Firewall, Security and Vulnerability Management, Disaster Recovery, DDOS Mitigation, Web Filtering, Application Whitelisting, and Patch Management)), by Technology (Machine Learning, Context Awareness Computing, and Natural Language Processing), by Verticals (Government & Defense, BFSI, Enterprise, Infrastructure, Automotive & Transportation, Healthcare, Retail, Manufacturing, and Others (Oil & Gas, Education, Energy)), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.
Artificial intelligence-based security systems have the capability to analyze every incident happening and identify its root cause, along with its procedures, and trends. This also helps put in place preemptive measures, so as to stop any untoward incident before it happens.
Rising adoption of smart devices, including smartphones and smart wearable devices, is expected to drive growth of the global artificial intelligence based security market during forecast period. Growing adoption of smartphones 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; and the requirement for on-demand services such as videos, online messaging applications, video chat, and voice calls, at anytime and anywhere. These are very powerful tools for effective real-time communication. For instance, according to Coherent Market Insights’ analysis, as of 2017, over 55% of traffic on LinkedIn is estimated to be generated using mobile phones and over 80% of revenue on Twitter is generated through mobile advertising. 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 smartphones. Artificial intelligence-based security solutions is a combination of machine learning technology and biometrics, with the capability to identify user behavior to improve usability and self-service ability. A smartphone integrated with artificial intelligence can capture the pattern of walk, application of pressure to the screen, scroll, and type, without the need for passwords. For example, Apple iPhone X is installed with an artificial-based algorithm for unlocking device by Face ID. This artificial intelligence system is combined with Apple’s elaborate hardware that works to recognize a user’s face for security. Moreover, it can identify a face with changes such as spectacles or beard over time. Siri, Google Assistant, Cortana, and Alexa are artificial intelligence-based voice assistants, which identify voice, information spoken and can also provide a response. This in turn, is expected to boost demand for artificial intelligence in smartphones, so as to provide ultimate security, in turn, fueling market growth over the forecast period.
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