Cognitive Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cognitive Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cognitive Security Market is expected to register a healthy CAGR of over 33% during the forecast period (2021 - 2026). Enterprises are expanding their horizon to different geographies thereby generating data in terms of volume, velocity & veracity to gain some useful insights, where security plays a significant role by the help of various analysis technique in order to enhance their product and service offerings.

Key Highlights

• The growth in usage of cognitive security services for data storage of the confidential and private data of an organization with the rise in employee mobility is expected to drive the global cognitive security market. Since IT teams are struggling under the amplified workload, therefore to alleviate this additional load and allow IT to focus on delivering innovation. Introduction of new artificial intelligence and machine learning capabilities are expected to allow IT teams, to function at machine speed and scale through personalized network insights and impact the demand for such solutions in the market.
• With the increasing adoption of the cloud-based services in various business platforms have led to the need to secure the information of organizations. The implementation of cloud-based cognitive security by small and medium enterprises is increasing rapidly and fuels the growth of the market.
• IT businesses are adopting the cognitive security services for transferring huge amount of data. There is rapid adoption of the internet on smartphones in recent past which access data on the cloud, resulting in an increasing need for cloud security, thereby fueling the demand of the cognitive security market during the forecast period.

Key Market TrendsCognitive Threat Analytics to Grow at a Significant Rate

• Cognitive Threat Analytics relies on advanced statistical modeling and machine learning to independently identify new threats, learn from what it sees, and adapt over time. Owing to the enhanced improvements in the It security capabilities such solutions are emerging as most sought out solutions and drive the demand.
• This cloud-based solution reduces time to discovery of threats operating inside the network. It addresses gaps in perimeter-based defenses by identifying the symptoms of a malware infection or data breach using behavioral analysis and anomaly detection. With the increased pressure on the businesses to secure confidential and strategic business data, the market is expected to experience improved adoption over the forecast period.
• Moreover, it helps to improve network visibility, security, and incident response across the entire network. It correlates local traffic models with global threat behaviors to give a rich threat context around network traffic. Also, it applies machine learning and statistical modeling for encrypted traffic analytics to enhance NetFlow analysis.

North America to Hold the Largest Market Share

• High adoption of the advanced technologies, such as IoT, big data analytics, along with cloud computing is fueling the growing demand of the data security across the various end-user segment and is expected to drive the growth of the cognitive security market across the North America region during the forecast period.
• Moreover, the North America region is beholding the growing incidence of various cyber-crimes such as identity theft, phishing, along with malicious attacks that have been growing remarkably in the recent past. Major industries such as BFSI, manufacturing, retail, healthcare among others are highly susceptible to these threats.
• Organizations across the region are beginning to integrate cognitive security tools in their businesses, for instance, IBM Security is putting out products to help IT leaders equip their cognitive security operations centers (SOCs). Watson for Cyber Security is powering products such as IBM QRadar Advisor with Watson beginning to see evidence of the transformative power of this emerging technology.

Competitive Landscape

The cognitive security market is moderately competitive and also consists of a few prominent players that have better brand recognition in the market. In terms of market share, some of the players currently dominate the market. However, with the advancement in the AI and its integration across the cybersecurity services, new players are penetrating across the emerging region thereby increasing their market presence as well as expanding their business footprint across the emerging economies.

• Jun 2019 - Cisco announced its software innovations designed to make managing and securing networks easier. As part of its broadened capabilities offering, Cisco is also unveiling innovations to more effectively manage users and applications across the entire enterprise network from campus networks and wide-area networks to data centers and the IoT edge.
• May 2019 - Darktrace announced that the Royal Air Forces Association (RAFA), the largest charity providing welfare support to members of the Royal Air Forces, has selected Darktrace’s cyber AI to protect its members’ sensitive data from insider threat and sophisticated attacks.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Trend Micro Incorporated
Broadcom Inc. (Symantec Corporation)
Cisco System Inc.
Darktrace Limited
McAfee LLC
LogRhythm Inc.
Fortinet Inc.
ThreatMetrix Inc.
Cloudera, Inc.

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