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.

  • By Sydny Shepard
  • Oct 09, 2018

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

  • Maximizing Your Security Budget This Year

    Perimeter Security Standards for Multi-Site Businesses

    When you run or own a business that has multiple locations, it is important to set clear perimeter security standards. By doing this, it allows you to assess and mitigate any potential threats or risks at each site or location efficiently and effectively. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

  • OpenAI's GPT-4 Is Capable of Autonomously Exploiting Zero-Day Vulnerabilities

    According to a new study from four computer scientists at the University of Illinois Urbana-Champaign, OpenAI’s paid chatbot, GPT-4, is capable of autonomously exploiting zero-day vulnerabilities without any human assistance. Read Now

  • Getting in Someone’s Face

    There was a time, not so long ago, when the tradeshow industry must have thought COVID-19 might wipe out face-to-face meetings. It sure seemed that way about three years ago. Read Now

    • Industry Events
    • ISC West
Most   Popular

Featured Cybersecurity

Webinars

New Products

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities 3

  • 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. 3

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge. 3