LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global artificial intelligence-based cybersecurity market to grow at a CAGR of more than 29% during the period 2018-2022, according to their latest market research report.
The rising adoption of chatbots to combat cyber attacks is one of the major trends being witnessed in the global artificial intelligence-based cybersecurity market. Businesses are increasingly adopting chatbots to reach out to individual customers for marketing their products. This is driving the growth of the AI industry. A chatbot is a combination of machine learning, AI, and technology platforms such as instant messaging applications.
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In this report, Technavio analysts highlight the increase in adoption of cloud-based services as a key factor contributing to the growth of the global artificial intelligence-based cybersecurity market:
Global artificial intelligence-based cybersecurity market: Increase in adoption of cloud-based services
Cloud-based services are being adopted by firms for various applications such as authentication processes, video management, biometric information storage, and big data computing. The flexibility and scalability of cloud-based solutions help in meeting the varying needs of customers. Several industries and firms such as the financial industry store their data on the cloud platform.
According to a senior analyst at Technavio for research on IT security, “Cloud-data security is of high importance for these firms as they need to ensure their security and maintain end-user trust. The adoption of cloud-based services among SMEs is increasing as they do not own security infrastructure. With the increase in workforce mobility, several organizations have implemented cloud-based services for various business functions.”
Global artificial intelligence-based cybersecurity market: Segmentation breakdown and forecast
This market research report segments the global artificial intelligence-based cybersecurity market into the following end-users (BFSI, government, ICT, and healthcare) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major end-users, the BFSI segment held the largest market share in 2017, accounting for nearly 30% of the market. This segment is expected to dominate the global market throughout the forecast period.
The Americas was the leading region for the global artificial intelligence-based cybersecurity market in 2017, accounting for a market share of more than 36%. However, by 2022, the market share of this region is expected to decrease by around 3%. But, this region will dominate the global market through the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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