Cognitive Security Market - Global Industry Analysis

Cognitive Security Market

Cognitive Security Market By Component (Solution and Service), Deployment Mode (On-Premise and Cloud), Organization Size (Large Size Organization and Small & Medium Size Organization), By Application (Threat Intelligence, Anomaly Detection & Risk Mitigation, Automated Compliance Management, and Others), By Industry Vertical (BFSI, Retail & Agriculture, IT & Telecom, Education, Healthcare, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Category: Technology & Media Report Format : PDF Pages: 210 Report Code: ZMR-3376 Published Date: Jun-2022 Status : Published

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Cognitive security is an artificial intelligence (AI) application that secures the data from the cyber attacks or virus. It is designed to augment human intelligence and learning to proactively detect and analyze threats; thereby, protecting digital and physical systems. Cognitive security is involved in building a new generation of cognitive systems that would be able to comprehend the continuous evolving threats. Cognitive security uses data mining, natural language processing, machine learning, and human-computer interface for securing the data from threats. Removing the human errors and dependency based on research skills is one of the important reasons for the development and adoption of cognitive security solutions.

Growing incidences of cyber attacks and data security breaches are mainly driving the growth of cognitive security market. Growing adoption of Bring Your Own Device (BYOD) and the Internet of Things (IoT) trends is another major factor to fuel the demand for cognitive security solutions. The global BYOD market is expected to reach approximately USD 367 billion by 2022 from USD 30 billion in 2014. It has also been studied that over 59% of the organizations permit their employees to use their own devices to access business apps or for other work purposes. Studies have even found that the employee morale and productivity has improved due to the reduction in hardware and networking costs. According to Cisco, 69% of the IT sector’s decision-makers prefer BYOD and favor it as a boon to any work as it saves employees time. Moreover, the global IoT adoption had reached around 43% of enterprises as of 2016. Thus, the high adoption of BYOD and IoT in various organizations is expected to propel the demand for cognitive security solutions in the near future. Also, the concerns such as restricted security budget, increasing cyber threat but lack of security professionals are expected to restrict the growth of the market. Furthermore, growth in analytics, machine learning, and AI are some of the opportunities for the players in the cognitive security market.

Global Cognitive Security Market

The cognitive security market is bifurcated on the basis of components, security types, verticals, and regions. The component segment includes solutions and services. In terms of security types, the market is divided into cybersecurity and physical security. The cybersecurity is sub-segmented into application security, cloud security, endpoint security, and network security. On the basis of verticals, the cognitive security market holds aerospace and defense, banking, financial services, and insurance, energy and utilities, and government. Some other verticals of cognitive security market are healthcare, IT and telecom, manufacturing, retail, and others. The market is analyzed based on five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

Based on vertical, the BFSI segment held the largest market share in 2017 as most of the sensitive information linked to offices, staffs, customers, operations, assets, and branches are prevalent in the BFSI segment. The demand for the cognitive security solutions in the BFSI sector is sensed to be dominant till 2024. As cognitive security helps IT & telecommunication sector in numerous ways, it is expected to be the second most market shareholder in terms of revenue after the BFSI sector. It is used to analyze the security developments and to discrete the structured or unstructured data into relevant information. Moreover, it provides security and improves the productivity of the business. The need for cognitive security in IT & telecommunication is escalating day by day due to the rise in employee mobility and the increasing use of cognitive security services for confidential and private data storage in organizations.

Geographically, North America is predicted to hold the largest market share in terms of revenue in the coming years owing to the maximum adoption of cognitive security solutions in the region. The presence of certain markets incumbents with trending security threats is projected to boost the adoption of cognitive security solutions in the region. The Asia Pacific and the Middle East & Africa are also anticipated to grow at a substantial rate in the forecast period.
The key players of cognitive security solutions are Intel Security, XTN, Symantec Corporation, Trend Micro, Inc., IBM Corporation, Cisco Systems, Inc, DXC Technology, CA Technologies, Inc., CSC, Logrhythm, Inc., Cato Networks Fortinet, Inc., Google, Amazon.com, Inc., and Check Point Software Technologies Ltd., among others.

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