United States/WA: The Global Artificial Intelligence-Based Security Market is estimated to exhibit a CAGR of 30.25% over the forecast period. Report Pages:[212 Pages] The Competitive Area of the Artificial Intelligence-based Security Market is Defined by Key Players Like:-Nvidia Corporation, Intel Corporation, Xilinx Inc., Samsung Electronics Co., Ltd., Micron Technology, IBM Corporation, Cylance Inc., Threatmetrix, Securonix, Inc., Amazon, Sift Science, Acalvio Technologies, and Skycure […]
AI-Driven Security Market Expands as Dahua Launches New Solutions
United States/WA: The Global Artificial Intelligence-Based Security Market is estimated to exhibit a CAGR of 30.25% over the forecast period.
Report Pages:[212 Pages]
The Competitive Area of the Artificial Intelligence-based Security Market is Defined by Key Players Like:-Nvidia Corporation, Intel Corporation, Xilinx Inc., Samsung Electronics Co., Ltd., Micron Technology, IBM Corporation, Cylance Inc., Threatmetrix, Securonix, Inc., Amazon, Sift Science, Acalvio Technologies, and Skycure Inc.
Artificial Intelligence is quickly changing the way we protect our cyberspace. From personal security to complex corporate systems, Artificial Intelligence is playing an increasing role in the security and privacy of the web. Traditional security measures such as firewalls and software are rapidly being replaced by smarter systems, such as those that are currently being used in the banking industry. One of the key factors governing the development of the Global Artificial Intelligence-Based Security Market is increasing number of security frauds and technology penetration. As per the Federal Trade Commission (FTC), in the U.S., around 4.8 million identity thefts and fraud are reported in 2020, increasing by 45% in 2019 with 3.3 million. Increased number of security fraud cases have necessitated the adoption of an efficient security system. Thus, such factors can augment growth of the artificial intelligence-based security market.
Another key factor influencing future market development is the rampant growth in malware attacks across the cloud computing ecosystem. Ransomware is one of the most common malware that employs encryption to hold a victim’s information at ransom. Recently, in May 2021, Colonial Pipeline, a U.S.-based oil pipeline system suffered a ransomware cyber-attack, which impacted computerized equipment managing the pipeline. Hence, such factors can stimulate growth of the artificial intelligence-based security market. Recently, in January 2021, Dahua launched an AI-based video surveillance system and smart IoT systems.
There are two use cases for artificial intelligence-based security systems. The first is more of an off-the-shelf solution. Security vendors have been using such systems for decades, adapting them to the specific needs of their customers. For example, many firewalls use a standard configuration that requires the user to enter a password to gain access to the system. When it comes to regional impact, North America seems to be holding a dominant position in the artificial intelligence-based security market. This is typically due to a massive surge in cyber-attack cases as well as the presence of major cyber-security organizations in the U.S. Furthermore, Asia Pacific is a promising region for AI-based security due to the rapid adoption of machine learning in numerous sectors.
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Some artificial intelligence-based security solutions are completely generic. These include components that can detect network attacks on the Internet and send alerts to authorized personnel. Other components are designed to act as a monitoring device that continuously monitors changes in networks to determine if any attacks are occurring. Due to the nature of such security systems, they are also often called malware or intrusion detection systems. That being said, there are several factors that can limit the potential market development. For instance, the lack of skilled AI professionals, especially in emerging economies remains one of the key challenges, which could potentially impede growth of the artificial intelligence-based security market.
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