AI in Security Industry Expected to Exceed $35 Billion by 2024

AI in Security Industry Expected to Exceed $35 Billion by 2024

Artificial Intelligence is finding a home in the security industry.

Artificial Intelligence in the security market is expected to grow exponentially in the coming years, according to a report by Market Research Engine. The report says that AI, specifically in the security segment, is projected to exceed $35 billion by 2024. 

The report segments AI on the lines of its application, technology, service type and region. It also goes into the basis of application, which they've segmented into Anomaly Detection, Firewall, Intrusion Detection, Distributed Denial of Services, Data Loss Prevention and Web Filtering.  

Perhaps the largest segment the report found AI to be increasing in is cybersecurity. In cybersecurity, AI will increase the efficiency and precision of the system to observe any potential threat in an organizations system. In today's data-driven world, organizations are increasing their horizons by generating great deals of data to realize insights and use analysis technics to enhance their product offerings. 

However, hackers can easily breach the structure of security to access confidential and classified information. The growth of AI in this sector is happening as organizations realize their data is vulnerable and artificial intelligence can help offer a solution. 

The report says the top driving factors in the growth of AI are:

  • Growing adoption of IoT and increasing variety of connected devices
  • Rising variety of mobile malware attacks
  • Strict directives for Information Privacy
  • Wi-Fi networks progressively prone to security threats
  • Perpetually increasing cyber terrorism

The major restraining factors include inability of AI to prevent Zero-Day and advanced threats and quickly increasing corporate executive cyber threats. 


About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • From Surveillance to Intelligence

    Years ago, it would have been significantly more expensive to run an analytic like that — requiring a custom-built solution with burdensome infrastructure demands — but modern edge devices have made it accessible to everyone. It also saves time, which is a critical factor if a missing child is involved. Video compression technology has played a critical role as well. Over the years, significant advancements have been made in video coding standards — including H.263, MPEG formats, and H.264—alongside compression optimization technologies developed by IP video manufacturers to improve efficiency without sacrificing quality. The open-source AV1 codec developed by the Alliance for Open Media—a consortium including Google, Netflix, Microsoft, Amazon and others — is already the preferred decoder for cloud-based applications, and is quickly becoming the standard for video compression of all types. Read Now

  • Cost: Reactive vs. Proactive Security

    Security breaches often happen despite the availability of tools to prevent them. To combat this problem, the industry is shifting from reactive correction to proactive protection. This article will examine why so many security leaders have realized they must “lead before the breach” – not after. Read Now

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

New Products

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • EasyGate SPT and SPD

    EasyGate SPT SPD

    Security solutions do not have to be ordinary, let alone unattractive. Having renewed their best-selling speed gates, Cominfo has once again demonstrated their Art of Security philosophy in practice — and confirmed their position as an industry-leading manufacturers of premium speed gates and turnstiles.

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.