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.

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