The global cognitive security market is expected to grow at a CAGR of 22% between the forecast period of 2018–22, according to a report by Technavio. This report follows a Zion Market research report late last week that predicted the market to be worth almost $21.4bn by 2024.
Cognitive security is the application of AI technologies patterned on human thoughts processes and are applied to detect threats and protect physical and digital systems.
According to Technavio's report, the increase in organizations adopting cloud-based services is one of the key factors behind the growth as well as the significant upsurge in the use of the number of connected devices giving more opportunity for data crime.
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Additionally, the growing use of AI and machine learning more generally has led to its applications in security.
Of the growth, Zion Market commented: "The increasing need for an artificial security solution against digital, physical, and cybercrimes has catered the need for cognitive security."
The report added: "The solution functions using AI, eliminating the need for human resources. It is ideally used for the system security by learning techniques based on pattern recognition, data mining, natural language processing, and others."
