Global Cognitive Security Market To Grow At A CAGR Rate Of 36.4% During Forecast Period

20-Jun-2022 | Zion Market Research

The global cognitive security market is expected to expand from USD 6.85 billion in 2021 to about USD 79.94 billion by 2028 at a 36.4 percent compound annual growth rate (CAGR). The progress of the market is studied by its key elements such as drivers, restraints, and challenges.

Cognitive security is an artificial Intelligence-driven application to validate and eliminate threats in digital and physical systems. It is completely programmed and designed according to the patterns of the human brain and emotions. The security systems actually replicate the thought process of the human mind. It uses pattern recognition, data mining, and natural language processing as techniques to device any kind of detection and validation. This security system is completely managed in an automated mechanism where there is no necessity for any individual or labor. It actually strategizes the plans of a human mind and works its mitigation to control attackers' minds. There are some non-technical schemes to reduce any kind of risks or vulnerabilities. There is no possibility or chance of any spread of false data or adulterated information.

It offers complete insulation and protection from hackers and any kind of intrusion is immediately detected and mitigated. The algorithm and working functionality of the application are completely integrated with artificial intelligence that every feature is automated to the core. There is an inherent bifurcation based on deployment and end usage. One is on-premise and the other one is cloud systems.

The COVID-19 pandemic has had an impact on the global cognitive security market in many parts of the world. The worldwide market was also brought to a halt for a length of time as a result of the regional shutdown. The global market has been affected by a loss of productivity and sales. Many investors have left the market because they were unwilling to invest in a worldwide product. However, the pandemic has increased the worldwide cognitive security market growth by raising concerns about cybersecurity during the shutdown. As a result, many concepts and methods have been proposed by worldwide industry players to improve market growth throughout the pandemic.

The ample and huge increase in demand for artificial intelligence and its wide leverage boosts the market growth. The data accessibility across all segments has improved massively. Hence any application based on the security framework of the system will be more useful and necessary. This automated security system is also labor free and involves no amount of external validation which comes off as a factor to fuel market growth.

Organizational data in any field or stream is very significant and is in great demand which induces market growth. There are many enterprises on the rise across all developing countries and growing economies where validation of cyber threats become more prominent. Hence the need for a cognitive security system is significant. This factor aggravates the growth of the market. The advent and advancement of cloud technology are also a major reason for the growth of the global cognitive security market.

The increasing leverage of IoT devices across the world and many enterprises also bolsters market growth. In addition to this, the rising adoption of smartphones and the increasing need for private data storage also propel market growth exclusively.

On the other hand, the complications involved in the implementation and installation of cognitive security along with the cost associated with the process hinder market growth substantially.

The global cognitive security market is categorized based on component, organization size, deployment mode, industry vertical, application, and region. Based on components, the market is segregated into solutions and services. The deployment model is split into cloud and on-premise. By organization size, the market is segmented into large enterprises and small & medium enterprises. Application of the market is divided into anomaly detection & risk mitigation, threat intelligence, automated compliance management, and others. By industry vertical, it is classified into IT & telecom, BFSI, healthcare, retail & agriculture, education, and others

North America tops the list as the biggest contributor to the global cognitive security market as Big Data analytics is blooming and raging in that region. Big Data analytics comes off as a significant application that renders intact security systems and wide usage of cognitive security is guaranteed. Automation across all fields is becoming prominent in the region which triggers market growth here. Europe follows the trail as the second-largest contributor to the increasing adoption of IoT devices across the region. The wide leverage of cognitive security systems in place across different enterprises also contributes as a major factor to regional market growth.

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

Recent Developments

  • In June 2019, Cisco unveiled software enhancements aimed at simplifying network management and security. The company also announced enhancements to better manage users and applications across the whole enterprise network as part of its expanded services offering. The company's market share has significantly increased in cognitive security as a result of this

Browse the full 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. Report at https://www.zionmarketresearch.com/report/cognitive-security-market

Global cognitive security market is segmented as follows:

By Component

  • Solution
  • Services

By Deployment Mode

  • On-premise
  • Cloud

By Organization Size

  • Large Size Organization
  • Small and Medium Size Organization

By Application

  • Threat Intelligence
  • Anomaly Detection and Risk Mitigation
  • Automated Compliance Management
  • Others

By Industry Vertical

  • BFSI
  • Retail & Agriculture
  • IT and Telecom
  • Education
  • Healthcare
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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