Cloud-based cognitive security solutions offer various benefits to organizations. Some of these include simple deployment, high scalability, and reduced operational cost in terms of connected resources. Organizations, nowadays, prefer the cloud deployment mode, as it is easy to maintain and upgrade. MarketsandMarkets expects the cognitive security market to grow from USD 3.62 Billion in 2018 to USD 17.09 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 36.4% during the forecast period. The rising adoption of social media platforms in various business functions and the growing market for cloud-based businesses are expected to provide significant growth opportunities to market players.
The major vendors in the global cognitive security market are IBM (US), Cisco (US), CA Technologies (US), Symantec (US), Check Point Software (US), DXC Technology (US), AWS (US), Expert System (Italy), Fortinet (US), Trend Micro (Japan), Google (US), Acalvio (US), Securonix (US), Sift Science (US), Feedzai (US), SparkCognition (US), Cybraics (US), Demisto (US), XTN (Italy), LogRhythm (US), ThreatMetrix (US), High-Tech Bridge (Switzerland), Deep Instinct (Israel), Darktrace (UK and US), Cylance (US), and McAfee (US). New product launches, product enhancements, and partnerships are the key growth strategies adopted by these market players to offer feature-rich products and services to their customers and penetrate deeper into the unserved regions.
IBM is one of the leading vendors in the cognitive security market. The company has adopted various organic as well as inorganic growth strategies to increase its presence in the cognitive security market. For instance, in April 2018, IBM released a new service called IBM X-Force Threat Management. With this new service launch, IBM aims to help organizations secure their business operations as well as quickly reduce cyber threats.
Cisco is another market-leading company that has adopted various growth strategies, such as new product launches and partnerships, to deliver innovative security solutions to several industries. For instance, in April 2018, Cisco launched a new solution called Advanced Malware Protection (AMP) for Endpoints. The solution is designed to offer security services such as email security and protection against phishing and spoofing attacks. Moreover, in February 2018, Cisco partnered with TIM, a provider of mobile and fixed telecommunications services. With this partnership, both the companies aim to offer TIM Safe Web, a secured platform for small enterprises to achieve protection against malware, ransomware, phishing, and other cybercrimes.
Cognitive Security Market by Component (Solutions & Services), Application (Threat Intelligence, Anomaly Detection & Risk Mitigation, Automated Compliance Management), Security Type, Deployment, Enterprise Size, Vertical, & Region- Global Forecast to 2023
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