Global Cognitive Security Market was valued at US$ 3.50 Bn in 2019 and is expected to reach US$ 41.03 Bn by 2027, at a CAGR of 36.03% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Cognitive security is the idea of utilizing AI to develop digital security systems. Bringing AI to the security world is estimated to expand comprehensive security a great deal in systems that are otherwise vulnerable to a wide range of threats from hackers and other cruel actors.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding cognitive security market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in cognitive security market.
The major driver for the growth of cognitive security market is increasing cyber-attacks on the cloud. Additionally, the market is estimated to witness a high growth rate during the forecast period owing to the growing investments for the implementation, adoption, and penetration of AI technology globally. The development of online market will also drive the growth of the global cognitive security market. However, limited security budget is projected to the major restraint to the growth of the cognitive security market.
Also, lack of awareness and skilled labor to implement the solution is hindering the growth of cognitive security market. Furthermore, regulatory & compliance mandates and increasing adoption of social media platforms in several business functions are opportunities for increasing the market in forecast period.
IT & telecom segment is contributing the highest to the growth of cognitive security market. The IT businesses are adopting the cognitive security services for transferring massive amount of data. There is fast adoption of internet on smartphones which access data on cloud. To secure this data which is transferred by the IT and telecom sector, there is augmented demand for cloud security. This contributes to the growing of cognitive security market.
Solutions segment is projected to the larger market share during the forecast period. The real-time security analytics and visualization platform play a vital role in detecting anomalies and preventing infrequent behaviors or cyber-attacks. In contrast, the services segment is estimated to grow at a faster rate during the forecast period owing to the increasing demand for the proper implementation of cognitive security market.
Asia Pacific is projected to grow at the highest CAGR in the global cognitive security market during the forecast period. Several factors like rising demand from security analysts, increasing adoption of security solutions in the IT and telecom sector, and growing incidents of cybersecurity breaches are likely to drive the market growth in the Asia Pacific. North America is estimated to account for the highest market share during the forecast period.
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Scope of the Global Cognitive Security Market
Global Cognitive Security Market by Component
o Unified Log Manager & Data Catalog
o Real-Time Security Analytics & Visualization Platform
o Biometric Recognition
o Digital Signature Recognition
o Deployment & Integration
o Support & Maintenance
o Training & Consulting
Global Cognitive Security Market by Application
• Threat Intelligence
• Anomaly Detection & Risk Mitigation
• Automated Compliance Management
Global Cognitive Security Market by Security Type
• Physical Security
o Network Security
o Cloud Security
o Application Security
o Endpoint Security
Global Cognitive Security Market by Deployment Mode
Global Cognitive Security Market by Enterprise Size
• Large Enterprises
• Small and Medium-Sized Enterprises
Global Cognitive Security Market by Vertical
• Aerospace & Defense
• IT & Telecom
• Energy & Utilities
Global Cognitive Security Market by Geography
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Cognitive Security Market
• CA Technologies
• Check Point Software
• DXC Technology
• Deep Instinct
• Expert System
• High-Tech Bridge
• Sift Science
• Trend Micro
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