Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 6.85 Billion | USD 79.94 Billion | 36.4% | 2021 |
FrequentlyAsked Questions
The cognitive security industry has been growing due to an increase in demand for artificial intelligence (AI) solutions. With the goal of increasing data accessibility across all segments of the business streams, expenditures on AI and machine learning have expanded significantly. As cognitive security is based on AI program to detect risks and protects physical and digital systems. its adoption in different business streams is increasing rapidly. These AI-based automated security systems are meant to tackle problems without the involvement of people, which is expected to fuel market expansion.
According to the Zion Market Research report, the global cognitive security market was worth about 6.85 (USD billion) in 2021 and is predicted to grow to around 79.94 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 35.8 percent.
North America accounted for the largest share in the global cognitive security market in 2021 with a market share of 35.5 percent, followed by Asia Pacific and Europe. In addition, emerging technologies including big data analytics are widely used in businesses, fueling market expansion in the region. Big data analytics provides instruments for improving security, which propels the market forward. Furthermore, increased expenditures in cognitive process automation are expected to boost demand for cognitive security, propelling the market in the United States and Canada.
Major players operating in the global cognitive security market include Cisco System Inc., IBM Corporation, Symantec Corporation, CA Technologies Inc., DXC Technology Company, Securonix, Inc., Google (Alphabet Inc.), Amazon Web Services Inc., Acalvio Technologies Inc., and Fortinet, Inc.
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