Market Dynamics

The growing adoption of connected devices, the advancement in computing power technology, the development of machine learning and deep learning technology, and the increasing incidence of cyber-attacks are some of the main factors driving global artificial intelligence (AI) in security market. However, the lack of technical or skilled expertise is one of the key factors limiting market development.

The Artificial Intelligence (AI) in Security Market Size was valued at USD 4.97 billion in 2018 and is expected to reach USD 20.3 Billion by 2030, registering a 13.20% CAGR during the forecast period of 2022-2030.

Growing adoption of cloud-based technologies and services and government funding and investment in research and development of artificial intelligence technology are factors leading to the creation of successful opportunities for market players in the coming years. However, software and hardware security, data integrity, model security, and data privacy are key challenges facing global artificial intelligence (AI) players in the security industry.

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Home surveillance, physical security, video analytics, virtual assistance, robotics, predictive maintenance, and cognitive security are some of the uses of cases in the global artificial intelligence (AI) in security industry.

Market Segmentation

The global artificial intelligence (AI) in security market has been segmented into component, deployment, security type, technology, and vertical.

By component, the global artificial intelligence (AI) in security market has been categorized as hardware, software, and services. The hardware segment has further been classified as processors, memory, and network. The software segment has been further classified as solutions and platforms. The solutions sub-segment has been classified into antivirus, identity and access management, risk and compliance management, encryption, unified threat management, and others.

By deployment, the global artificial intelligence (AI) in security market has been bifurcated into on-premise and on-cloud.

By security type, the global artificial intelligence (AI) in security market can be separately identified as endpoint security, network security, application security, and cloud security.

By technology, the global artificial intelligence (AI) in security market has been segmented into machine learning, natural language processing, and context aware computing.

By vertical segmentation, the global artificial intelligence (AI) in security market into BFSI, Government, retail, manufacturing, automotive & transportation, healthcare, and others.

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Regional Analysis 

Based on the region, the global artificial intelligence (AI) in security market has been divided into North America, Europe, Asia Pacific, and the rest of the world.

North America currently leads global artificial intelligence (AI) in security market. Government initiatives, such as investment in the development of artificial intelligence technology, are key factors in the growth of the AI in the security market. The US, trailed by Canada, is the main contributor to the revenue generation for the market. The involvement of key players such as IBM Corporation and Microsoft Corporation, the availability of skilled expertise, and the adoption of artificial intelligence technology-based solutions by verticals such as BFSI, government, retail, and manufacturing are some of the other significant factors driving the growth of the global artificial intelligence (AI) in the security market.

Asia Pacific is expected to be the fastest-growing artificial intelligence (AI) in security market. China, Japan, and South Korea are the main generators of revenue in the region. The Government of China has invested some 48% in funding for artificial intelligence and has begun to develop specialized expertise in machine learning and deep learning technology. South Korea has also announced a USD 1 billion investment in AI development and deployment in government and security applications.

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Key Players

Notable players in the global artificial intelligence (AI) in security market are Nvidia Corporation, Intel Corporation, Samsung Electronics, IBM Corporation, Google, Xilinx Inc., Micron Technologies, Inc., Cylance Inc., LexisNexis Risk Solutions Inc., Securonix, Inc., Acalvio Technologies, Inc., Symantec Corporation, Darktrace, Sparkcognition, Inc., Deep Instinct, SentinelOne, Feedzai, Vectra AI Inc., Zimperium, Inc., Argus Cyber Security, Nozomi Networks, Inc., Indegy Ltd, and BitSight Technologies.

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