Cognitive security can be defined as security which uses data mining, natural language processing, machine learning, and human-computer interface for securing data from virus and cyber-attacks. Cognitive systems aid in analyzing security developments and separate all the structured and unstructured data into information.
Further, it also provides continuous security to business and improves productivity. Market Research Future (MRFR) has recently published a report on the global cognitive security market, concluding that it is expected to witness a robust CAGR of 19% between the forecast period of 2017-2023.
One of the primary drivers of the market is the mounting number of cyber-attacks on the cloud. Growing usage of cognitive security services for storing confidential information and private data of an organization is also contributing to the snowballing cognitive security market.
A rising rate of employee mobility is also anticipated to drive the global cognitive security market over the forecast period. Emerging trends of BYOD to the office premises has created a higher need for cognitive security, encouraging enterprises in several end-user industries is estimated to drive the global cognitive security market.
Growth of online market and e-selling, along with growth in the IT and telecommunications industry are also to be attributed for market growth in regards to cognitive security solutions. Rapid adoption of internet and smartphones which access data on cloud is leading to higher adoption of cognitive security solutions. The cognitive security market is projected to exhibit a market valuation of approximately 10 billion by 2023.
The global cognitive security market is segmented by deployment, organization size, vertical, and region. Based on deployment, the global cognitive security market is segmented into on-premise and on-cloud. Based on organization size, the global cognitive security market is segmented into small & medium enterprises and large enterprises. Based on vertical, the cognitive security market is segmented into IT and telecommunication, BFSI, supply chain and logistics, healthcare, energy & power and utilities, and education and government.
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Some notable players in the global cognitive security market, as mentioned in the MRFR analysis, include Intel Security (U.S.), XTN (Italy), Symantec Corporation (U.S.), IBM Corporation (U.S.), Cisco systems (U.S.), CA Technologies Inc. (U.S.), CSC (U.S.), Fortinet Inc. (California, U.S.), Cato Networks (Israel), and Check Point Software Technologies (Israel).
Detailed Regional Analysis
Based on geography, the global Cognitive Security Market is segmented into North America, South America, the APAC, Europe, and the Middle East & Africa. North America is the largest shareholder in the global cognitive security market over the forecast period. The need of safety and security solutions to aid in securing huge existing database of organizations is contributing to the growth of the cognitive security market in the North American region. Improving healthcare industry in the region has increased demand for security over cloud technology, thereby leading to exponential growth in the global cognitive security market.
On the other hand, Asia Pacific is estimated to grow at a substantial rate over the forecast
period. Many organizations in several end-user industries have started adopting the policy of bring your own device (BYOD) where the employees work on their own personal devices. Hence, this has led to a rise in cyber-threats for data on-cloud. Such a rise in threat has led to a rise in the need for cognitive security. Due to this, growth opportunities for various market players are opening up in the APAC region for cognitive security market during the forecast period.
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