Global Artificial Intelligence Based Security Market: Brief Account
The global artificial intelligence based security market is predicted to grow at a strong rate during the forecast period 2018 – 2026, owing to increase in penetration of internet throughout the world. Gradual shift of enterprises towards adopting internet in order to perform most of the tasks through it is compelling employees to remain online for a longer time, thus growing the risks for cyberattacs and hacking. These have particularly helped the vendors in the artificial intelligence based security market to develop a better and enhanced artificial based security solutions. Artificial Intelligence or AI is a branch of computer science that uses speech recognition, translation between languages, and visual perception to make a machine work without any help from humans.
Global Artificial Intelligence Based Security Market: Drivers and Restraints
One of the major factors that is helping the artificial intelligence based security market to grow is the surge in number of connected devices across the world. Artificial Intelligence in a security solution is expected to increase precision and efficiency of the system to notice any potential threat in system. Surge in number of mobile devices has significantly caused the networks to become more vulnerable to cybersattacks, thus increasing the demand for AI based security solutions. Growing inclination of government to adopt smart city concept is expected to bolster the artificial intelligence based security market growth. Growing awareness regarding various types of cyber threats such as phising, malware, denial, and password breaches are dissuading individuals’ to connect to any public WiFi. This is increasing the uptake of personal WiFi, which directly increases the demand for AI based security solutions.
The banking sector has noticed a significant rise in the adoption of IT solutions which has helped to improve the banking services. Growth in online transaction and surge in NEFT, RTGS, ECS, and mobile transactions is growing demand for secure solutions. Growing number of e-commerce websites, mobile application, and payment getaways which accepts store credit card, debit card, and online transactions are likely to increase the demand for artificial intelligence based security market. Furthermore, lack of cybersecurity professionals in the world.