Growing Adoption of Technologies to Boost Cognitive Security Market Growth

According to a comprehensive research report by Market Research Future (MRFR), “Cognitive Security Market Analysis by Deployment, By Organization Size, By Vertical - Forecast 2030” valuation is poised to reach USD 81.4 Billion by 2030, registering a 36.90% CAGR throughout the forecast period (2022–2030).

Cognitive Security Market Competitive Analysis

Eminent players profiled in the global cognitive security market report includes:

• Intel Security (U.S.)
• XTN (Italy)
• Symantec Corporation (U.S.)
• IBM Corporation (U.S.)
• Cisco Systems (U.S.)
• CA Technologies, Inc. (U.S.)
• CSC (U.S.), Fortinet, Inc. (California, U.S.)
• Cato Networks (Israel)
• Check Point Software Technologies (Israel).

Drivers

Growing Adoption of Technologies to Boost Market Growth

The growing adoption of technologies like BYOD, connected devices, and IoT will boost market growth over the forecast period.

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Cognitive Security Market Report Scope:

Opportunities

Increasing Use for Data Storage to offer Robust Opportunities

The global cognitive security market is anticipated to be driven by the rise in employee mobility and the growing use of cognitive security services for data storage of an organization's private & confidential data. To lessen the increased workload that IT teams are already struggling under and free up IT to concentrate on providing innovation

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Restraints

Dearth of Skilled Security Professionals to act as Market Restraint

The dearth of skilled security professionals and lack of awareness especially in underdeveloped economies may act as market restraints over the forecast period.

Challenges

Increasing Insider Cyber Threats to act as Market Challenge

The increasing insider cyber threats and high initial investment price may act as market challenges over the forecast period.

Market Segmentation

The global cognitive security market is bifurcated based on vertical, organization, and deployment.

By deployment, cloud will lead the market over the forecast period. The demand for the cloud deployment segment is rising as mobile and online application security become more and more popular.

By organization size, SMEs will dominate the market over the forecast period. Demand for cognitive security is being driven by an increase in cyber-attacks against small and medium-sized businesses for accessing payment information, customer information, and other sensitive data.

By vertical, BFSI will spearhead the market over the forecast period because this sector contains a significant amount of sensitive data on personnel, property, offices, branches, activities, and clients.

COVID-19 Analysis

In many regions of the world, the COVID-19 pandemic has had an effect on the market for cognitive security. As a result of the regional closure, the global market also came to a temporary standstill. Losses in productivity and sales have an impact on the worldwide market. Due of their reluctance to invest in a globally distributed product, many investors have abandoned the global market. However, the epidemic has accelerated the growth of the global market for cognitive security by igniting worries about cybersecurity during the government shutdown. As a result, numerous ideas and strategies have been put forth by major participants in the business from across the world to boost market expansion throughout the epidemic.

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Regional Analysis

North America to Lead Cognitive Security Market

Due to stronger network infrastructure, increased digitalization, and higher technology adoption, the North American area is responsible for the largest market share in the global market for cognitive security. North American economies have benefited from the development of cutting-edge technology, which is mostly to blame for digitization. Due to the existence of significant regional competitors in the market for cognitive security, North America is currently in the lead. Small and medium-sized businesses are increasingly implementing cloud-based cognitive security solutions, particularly those in the banking and finance industry. Demand for cognitive security is rising as businesses look to boost productivity by moving from on-premise to cloud-based systems. The market for cloud-based cognitive security solutions is being driven by factors such as initial cheap cost, cost savings on infrastructure, automatic software updating, and seamless integration. Due to the adequate availability of the supporting infrastructure needed for the implementation of cutting-edge technologies to protect organizational data and the rising frequency of various cyber-crimes, North America currently dominates the cognitive security market and will maintain its trend of dominance during the forecast period.

During the forecast period, the high adoption of cutting-edge technologies such as IoT, big data analytics, and cloud computing is expected to propel the growth of the cognitive security market in North America. These technologies are fueling the rising demand for data security across a variety of end-user segments. In addition, the North American region is witnessing an increase in the frequency of various cybercrimes like identity theft, phishing, and harmful attacks, which have been expanding significantly in recent years. Major sectors including BFSI, retail, manufacturing, and healthcare are particularly vulnerable to these dangers. Region-wide enterprises are starting to adopt cognitive security tools. For instance, IBM Security is releasing products to assist IT managers in setting up their cognitive security operations centers (SOCs). With Watson for Cyber Security, we are starting to witness the revolutionary potential of this new technology in solutions like IBM QRadar Advisor.

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APAC to Have Admirable Growth in Cognitive Security Market

Throughout the forecast period, Asia-Pacific will continue to have significant growth and achieve the highest CAGR. This is brought on by rising investments in IT infrastructure, rising use of security tools in the telecom and IT industries, and rising numbers of small enterprises. During the forecast period, the global market for cognitive security is expected to develop at the greatest CAGR in Asia Pacific. The Asia Pacific market will increase as a result of a number of factors, including rising demand from security analysts, rising usage of security solutions in the IT and telecom sector, and rising instances of cybersecurity breaches.

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