Cognitive security is a security strategy that uses data mining, human-computer interface, machine learning, and natural language processing for securing the data from the virus and cyber-attacks. Market Research Future (MRFR) has published a research report on the global cognitive security market that infers an increase for this market at 19% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 10 bn by the end of the forecast period.
Observing the market structure, this report calculates the future growth potential of the market. It reads the strategies of the key players in the market and aids the competitive developments like new product developments, joint ventures, mergers & acquisitions, and research & developments (R&D) in the market.
The most significant global cognitive security market driver is growing cyber-attacks on the cloud. The second factor contributing to market growth is the usage of cognitive security services for data storage that helps to protect the confidential and private data of an organization. Other factors unleashing the market growth include the rise in employee mobility, emerging trend called bring your own device (BYOD), growing online marketing, growing information technology (IT) & telecom sector, rapid adoption of the internet on smartphones, and lastly, the growing need for cloud security. However, the lack of awareness about cognitive security among small & medium enterprises (SMEs) can restrain market growth.
The global cognitive security market segmentation can segment the market into deployment, organization size, vertical, and lastly, region. The deployment-based segmentation segments this market into cloud deployment and on-premise deployment. Based on the organization size, the market has been segmented into SMEs and large enterprises. Regarding verticals, the market has been segmented into banking, financial services & insurance (BFSI), education & government, energy & power and utilities, healthcare IT & telecommunication, supply chain & logistics, and others.
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The regional segmentation of the global cognitive security market segments the market into regional markets known as Europe, Asia Pacific, North America, and rest of the world (RoW). North America is the global market leader due to technological advancement, the presence of the need for safety & security solutions to secure the huge existing database of the enterprises. The economies that can be most important country-specific markets in this region are the USA and Canada.
In Europe, the market can grow due to highly developed network infrastructure and growing healthcare industry leading to demand cloud security. The major economies in this region that can be suitable country-specific markets are France, Germany, and the UK.
In the Asia Pacific region, the market is growing due to the growing practice of BYOD in various organizations because of which cloud data is prone to security risks. Therefore, cloud security systems are required for saving corporate data from unauthorized access and threats of cyber-attacks. The economies that can be the major country-specific markets in the Asia Pacific region are India, China, and Japan.
The key players in the global cognitive security market include CA Technologies Inc. (USA), Cato Networks (Israel), Check Point Software Technologies (Israel), CSC (USA), Cisco Systems (USA), Fortinet Inc. (USA), IBM Corporation (USA), Intel Security (USA), Symantec Corporation (USA), and XTN (Italy).
Latest Industry News
- The Pentagon has plans to streamline security clearances by using artificial intelligence (AI). 8 APR 2019
- IBM has plans to develop and use AI as an integral part of their cybersecurity strategies. 15 OCT 2018
- To dominate the multibillion-dollar AI software-as-a-service (SaaS) market, Microsoft is augmenting its suite of cloud-hosted machine learning tools called Azure Cognitive Services, with new upgrades that were previously available only to select customers. 26 MAR 2019
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