This kind of security is expected to use machine learning, data mining, and natural language processing (NLP) to protect data. In addition, it can also use human-computer interface to safeguard essential data available in organization.
Growing adoption of cognitive security solutions in business to distinguish between structured and unstructured data can fuel growth of market. Rising demand for advanced security solutions in organization to protect data from cyber-attacks and enhance productivity can augment market growth. Increasing in employee mobility in various organizations can surge demand for cognitive security. This, in turn can stimulate growth of market in coming years. Continual implementation of cloud-based services in organizations can create new entry points for cyber criminals. Rise in vulnerabilities can surge demand for advanced security in these organizations. Rapid adoption of cognitive security in retail sector can further fuel growth of market during the forecast period (2018 to 2022).
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Growing adoption of open source network security solutions among organization can restrict growth of market during the forecast period.
To cater to rising demand for cognitive security, most companies are expected to invest in R&D activities to develop innovative products. For instance, Mercury recently introduced its new computing board that can support artificial intelligence and machine learning applications. This new ensemble series is named as LDS3517. The board is expected to be integrated with FPGA and carrier functionalities, eliminating requirement for three-circuit-board setup. In addition, it is expected to feature cyber-hardening and system security engineering. Hence, it can be used for various military applications.
The cognitive security market can be segregated on the basis of end-user and region. Based on end-user, the market can be categorized into healthcare, retail, BFSI, government, and others. In recent years, BFSI segment dominated the market and accounted for significant market share. It is predicted to grow at similar pace over the forecast period and account for substantial market share.
Regional segmentation of cognitive security market includes Asia Pacific (APAC), Americas, and Europe, Middle East & Africa (EMEA). Americas dominated the market and accounted for largest market share in past few years. Growing adoption of cognitive security in the region can fuel growth. United States is predicted to hold maximum market share in North America. It is likely to witness significant growth in coming years. Continual advancements in data storage facilities including private and public cloud can influence growth of market in the region. Moreover, increasing cases of cyber-attacks in Canada can also surge demand for cognitive security in the region.
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In Asia Pacific, the cognitive security market is estimated to grow well during the forecast period. Growing number of cyber criminals attempting data breaches in the region using advanced techniques can surge demand for cognitive security. This, in turn can augment growth of market in the region over the forecast period.
In Middle East & Africa, the cognitive security market is likely to witness significant growth over the forecast period. Emergence of advanced digital solutions for collection, storage, analysis, and distribution of information can give rise to insecurity in the region. Implementation of cognitive security can curb any vulnerabilities and boost growth of market in the region. Some of the leading companies offering cognitive security are IBM, Intel Corporation, Symantec Corporation, Dell, and Cisco.
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