Cognitive Security Market Size Worth US$ 79.94 Bn, Globally, by 2028 at a 36.4% CAGR: Industry Trends, Demand, Share, Value, Analysis & Forecast Report by Zion Market Research

NEW YORK, June 21, 2022 /PRNewswire/ -- As per Zion Market Research study, The global cognitive security market is expected to expand from USD 6.85 billion in 2021 to about USD 79.94 billion by 2028 at a 36.4 percent compound annual growth rate (CAGR). The progress of the market is studied by its key elements such as drivers, restraints, and challenges.

Key Industry Insights & Finding of the Cognitive Security Market  Reports:

• As per the analysis shared by our research analyst, the Cognitive Security Market is expected to grow annually at a CAGR of around 36.4 % (2022-2028).
• Through the primary research, it was established that the Cognitive Security Market was valued approximately USD 6.85 Billion in 2021 and is projected to reach to roughly USD 79.94 Billion by 2028.
• North America accounted for the largest share in the global cognitive security market in 2021 with a market share of 35.5 percent, followed by Asia Pacific and Europe.
• Increased expenditures in cognitive process automation are expected to boost demand for cognitive security, propelling the market in the United States and Canada.
• The growing use of BYOD and Internet of Things (IoT) trends, as well as the rising incidence of cyber-attacks and security breaches, are driving up demand for the global cognitive security market.

Zion Market Research published the latest report titled as  "Cognitive Security Market By Component (Solution And Service), Deployment Mode (On-Premise And Cloud), Organization Size (Large Size Organization And Small & Medium Size Organization), By Application (Threat Intelligence, Anomaly Detection & Risk Mitigation, Automated Compliance Management, And Others), By Industry Vertical (BFSI, Retail & Agriculture, IT & Telecom, Education, Healthcare, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.

Cognitive Security Market : Overview

Cognitive security is an AI program that detects risks to physical and digital systems based on human thought patterns. It features self-learning security systems that replicate the human brain using pattern recognition, data mining, and natural language processing. These computerized security systems are intended to solve problems without the intervention of individuals. It aids in the prevention of cyberattacks aimed at manipulating human perception. Cognitive hacking is a type of attack that aims to influence people's behavior in such a way that the attacker's goal is achieved. It includes non-technical methods for reducing people's vulnerability to manipulation. These tools are intended to detect and prevent the spread of false data and misinformation.

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Industry Dynamics:

Cognitive Security Market : Growth Drivers

• Increasing adoption of artificial intelligence (AI) is expected to boost market growth.

The cognitive security industry has been growing due to an increase in demand for artificial intelligence (AI) solutions. With the goal of increasing data accessibility across all segments of the business streams, expenditures on AI and machine learning have expanded significantly. As cognitive security is based on AI program to detect risks and protects physical and digital systems, its adoption in different business streams is increasing rapidly. These AI-based automated security systems are meant to tackle problems without the involvement of people, which is expected to fuel the global cognitive security market expansion.

Cognitive Security Market : Restraints

• The difficulty of putting cognitive security into practice may hinder market growth.

The major hurdles to the market growth are due to complexities related to the implementation of connective securities in small and middle-scale industries. This is might be due to budget constraints or a lack of a skilled workforce. Furthermore, the additional cost associated with the training of personnel to adopt newer systems and low awareness also impedes market growth. 

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Global Cognitive Security Market : Opportunities

• Increasing trend of IoT and Bring Your Own Device is likely to offer better growth opportunities for the market growth.

The growing use of BYOD and Internet of Things (IoT) trends, as well as the rising incidence of cyber-attacks and security breaches, are driving up demand for the global cognitive security market. Operators and manufacturers now have more scope and prospects thanks to rising demand and expanded worldwide market penetration. New users want to be mobile when they join the workforce, and part of that mobility includes utilizing their own devices rather than company-owned devices. BYOD allows employees to work and collaborate more freely in terms of how, where, and when they do so. Furthermore, the cognitive security market players' ongoing efforts are expanding the global market's potential.

Global Cognitive Security Market : Challenges

• Lack of skilled professionals may pose a major challenge to the market growth.

A major problem that stymies industry expansion is a scarcity of experienced personnel and the rise of insider cyber threats. These variables enhance an organization's risk of failure, demanding the use of effective cognitive security solutions. In addition, the market's growth is hampered by a lack of understanding and significant investments in stringent security solutions.

Global Cognitive Security Market : Segmentation

• The global cognitive security market is categorized based on component, organization size, deployment mode, industry vertical, application, and region.

Based on components, the market is segregated into solutions and services. The deployment mode is split into cloud and on-premise. By organization size, the market is segmented into large enterprises and small & medium enterprises. Application of the market is divided into anomaly detection & risk mitigation, threat intelligence, automated compliance management, and others. By industry vertical, it is classified into IT & telecom, BFSI, healthcare, retail & agriculture, education, and others.

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List of Key Players of Cognitive Security Market :

• Cisco System Inc.
• IBM Corporation
• Symantec Corporation
• CA Technologies Inc.
• DXC Technology Company
• Securonix Inc.
• Google (Alphabet Inc.)
• Amazon Web Services Inc.
• Acalvio Technologies Inc.
• Fortinet Inc.

Key questions answered in this report:

• What are the growth rate forecast and market size for Cognitive Security Market ?
• What are the key driving factors propelling the Cognitive Security Market forward?
• What are the most important companies in the Cognitive Security Market Industry?
• What segments does the Cognitive Security Market cover?
• How can I receive a free copy of the Cognitive Security Market sample report and company profiles?

Report Scope:

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Recent Developments

• In June 2019, Cisco unveiled software enhancements aimed at simplifying network management and security. The company also announced enhancements to better manage users and applications across the whole enterprise network as part of its expanded services offering. The company's market share has significantly increased in cognitive security as a result of this.

Regional Dominance:

• North America to dominate the global market over the forecast period.

North America accounted for the largest share in the global cognitive security market in 2021 with a market share of 35.5 percent, followed by Asia Pacific and Europe. In addition, emerging technologies including big data analytics are widely used in businesses, fueling market expansion in the region. Big data analytics provides instruments for improving security, which propels the market forward. Furthermore, increased expenditures in cognitive process automation are expected to boost demand for cognitive security, propelling the market in the United States and Canada.

Global Cognitive Security Market  is segmented as follows:

Cognitive Security Market : By Component Outlook (2022-2028)

• Solution
• Services

Cognitive Security Market : By Deployment Mode Outlook (2022-2028)

• On-premise
• Cloud

Cognitive Security Market : By Organization Size Outlook (2022-2028)

• Large Size Organization
• Small and Medium Size Organization

Cognitive Security Market : By Application Outlook (2022-2028)

• Threat Intelligence
• Anomaly Detection and Risk Mitigation
• Automated Compliance Management
• Others

Cognitive Security Market : By Industry Vertical Outlook (2022-2028)

• BFSI
• Retail & Agriculture
• IT and Telecom
• Education
• Healthcare
• Others

Cognitive Security Market : By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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