Published on : Sep 15, 2020
Artificial intelligence has rapidly become an inseparable part of business organizations that are driven by and dependent on the availability of data from sources like Internet of Things (IoT). In present times, companies are making efforts to make an analysis of the consumer data fetched from various sources like media comments, product reviews, and CRM systems in an effort to understand and know about their customers at a granular level.
This makes marketing activities more effective and targeted. The adoption of artificial intelligence technology is likely to continue unabated due to the technological breakthroughs holding promise of bringing in improvement in client and operational offerings for various businesses.
The global AI for cybersecurity market is likely to be influenced by the growing threat of cyber crimes. A global rise in the adoption of IoT technology with an ever increasing number of connected devices have increased the risk of cyber attacks. The increasing number of cyber crimes are fuelling the demand for artificial intelligence in the global cybersecurity market.
Some of the cyber frauds that affect large companies are payment card and identity thefts, which if not resolved in a timely manner could lead to colossal monetary loss. Providers of cybersecurity are substantially making use of artificial intelligence-based solutions, which increases the scope of growth for the global AI for cybersecurity market. Use of artificial intelligence for handling such attacks leads to reduction in response time and early detection of threats.
SparkCognition, Inc., Nvidia Corporation, ThreatMetrix Inc, Samsung Electronics Co., Ltd, Amazon Web Services, Inc. and Symantec Corporation are some of the prominent players in the global AI for cybersecurity market.
Asia Pacific to Exhibit Rapid Growth of the Market over the Forecast Years
The global AI for cybersecurity market has broadly categorized into the key territories of North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Such territory-based segmentation is likely to offer an in-depth assessment of the regional market over the years of projection.
Driven by the noticeable presence of leading market players such as ThreatMetrix Inc, Amazon Web Services, Nvidia Corporation, North America is estimated to account for a sizeable share of the global AI for cybersecurity market. The region has been quick in adopting advanced technologies, which explains the rapid growth of the market in North America. Besides, growing awareness about such advanced technologies is likely to emerge as another growth promoting factor the AI for cybersecurity market in the region.
The Asia Pacific is estimated to come up as another prominent region in the global AI for cybersecurity market with a high rate of growth. Such rapid expansion of the market is ascribed to growing prominence of information and technology sector together with the availability of a large base of skilled professionals. Growth of the Asia Pacific region is likely to be dominated by countries like India and China. Increasing disposable income play an important role in the deployment of such high-end technologies, this widens the scope of growth for the market in the region.
Rise in Malicious Activities by Hackers Stoke up Demand in the Market
Artificial intelligence solutions not only offer a wider security cover as compared to human potential but it also simplifies the entire procedures of recognition and acknowledgment that are related to cyber frauds. The augmented risks of cybersecurity incidences are primarily playing an important role in shaping the contours of the global AI for cybersecurity market over the assessment tenure. However, dearth of technical expertise required for the implementation of AI applications is likely to pose challenge to the growth of the global AI for cybersecurity market over the years of assessment.
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The Internet of Things technology has brought in immense convenience in the execution of complicated tasks. It has further made life of countless people easy. However, IoT devices are more vulnerable to cyberattacks and are not always designed with the threat of cyberattacks in mind. The threat of cyberattacks is growing with the rising number of connected devices.
These days, cybersecurity solutions are utilized more to avert such attacks than to prevent data loss. Furthermore, there has been a rise in the incidences of malicious activities on mobile devices. Hackers who try to make most of monetary benefits out of such attacks carry out these harmful, malicious activities. These factors are likely to support growth of the global AI for cybersecurity market in near future.