Artificial intelligence (AI) is group of methodology that focuses on formation of intelligent machines with the help of human intelligence such as visual perception, speech recognition, decision-making, and translation between languages. Artificial intelligence can also be utilized for controlling access to hardware, software, and data, along with protecting them from cyber-attacks and damage that may be caused through the Internet, data, and code injection.
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Increasing adoption of Internet of things (IoT) is expected to drive growth of the global artificial intelligence based security market. Internet of things is used to protect and secure the network connecting IoT devices to back-end systems on the Internet. IoT security authenticates an IoT device by managing multiple users of a single device platform. Moreover, it ranges from simple static password or pins to more robust authentication mechanisms such as two-factor authentication, digital certificates, and biometrics. For instance, according to IHS Markit—a database provider—15.4 billion IoT connected devices were reported in 2015, across the globe. A unique technology called ‘User Pre-Shared Key’ (UPSK), is used for every device within the network to ensure IoT device security.
North America accounted for the largest market share in 2016
North America held a dominant position in the global artificial intelligence based security market in 2016, and is expected to retain its dominance throughout the forecast period. This growth is attributed to rising cyber-attacks in this region. U.S. accounted for the major market share in the region, owing to constant cyber-attacks on industries such as healthcare, banking and financial, and retail and manufacturing. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$1.33 billion globally, in which, California witnessed the highest recorded loss with over US$ 255 million. Additionally, in 2016, around 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany.
Major players operating in the global artificial intelligence based security market include Nvidia Corporation, Intel Corporation, Xilinx Inc., Samsung Electronics Co., Ltd., Micron Technology, IBM Corporation, Cylance Inc., Threatmetrix, Securonix, Inc., Amazon, Sift Science, Acalvio Technologies, and Skycure Inc.
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