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$17 Bn Cognitive Security Market, 2023 - Focus on Threat Intelligence, Anomaly Detection & Risk Mitigation, & Automated Compliance ManagementDUBLIN, May 23, 2018 /PRNewswire/ -- The "Cognitive Security Market by Component, Application (Threat Intelligence, Anomaly Detection & Risk Mitigation, Automated Compliance Management), Security Type, Deployment, Enterprise Size, Vertical, & Region- Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The cognitive security market is expected 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 major driving factors for the cognitive security market growth are the increasing number of security breaches and cyber-attacks, and the rising adoption of the Internet of Things (IoT) and Bring Your Own Device (BYOD) trends across verticals. The solutions segment is expected to account for the larger market size during the forecast period. The real-time security analytics and visualization platform plays a crucial role in detecting anomalies and preventing unusual behaviors or cyber-attacks. On the contrary, the services segment is expected to grow at a faster rate during the forecast period, owing to the growing need for the proper implementation of cognitive security solutions. The cloud deployment mode is expected to account for the larger market size and is expected to grow at a higher CAGR during the forecast period, as the cloud deployment mode is more preferred for mobile and web application security. The large enterprises segment is expected to account for the larger market size during the forecast period, whereas the Small and Medium-sized Enterprises (SMEs) segment is expected to register a higher CAGR during the forecast period, as attackers mainly target SMEs to penetrate their applications for accessing customer information, payment details, and other confidential data. Among the security types, the cybersecurity segment is expected to have the larger market size and is projected to grow at a faster rate during the forecast period. The rapidly growing connected devices have made enterprise networks more prone to cyber threats. Therefore, the demand for cognitive solutions is expected to be more during the forecast period. Among the applications, the threat intelligence application is expected to be the fastest growing application in the cognitive security market, whereas the anomaly detection and risk mitigation application is expected to have the largest market size during the forecast period. Anomaly detection and risk mitigation is a network security application that monitors networks o identify abnormal activities and report them. Among the verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to be the highest contributor in terms of the market size and is projected to grow at the fastest rate during the forecast period, as this vertical holds large volumes of sensitive information related to employees, assets, offices, branches, operations, and customers. Therefore, the demand to protect sensitive information is always high in the BFSI vertical. The healthcare, energy and utilities, manufacturing, retail, government, aerospace and defense, and IT and telecom verticals are also expected to contribute significantly to the growth of the cognitive security market to safeguard information and quickly identify and prevent cyber-attacks. Key Topics Covered: 1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/zttp2k/17_bn_cognitive?w=5 Media Contact: Research and Markets
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