Cognitive Security Global Market Report 2024

The cognitive security market size has grown exponentially in recent years. It will grow from $13.63 billion in 2023 to $18.88 billion in 2024 at a compound annual growth rate (CAGR) of 38.5%. The growth observed during the historic period can be attributed to several factors, including advancements in artificial intelligence (AI), the development of industry-specific applications, the proliferation of data and big data analytics, increased computational power, and the adoption of automation and efficiency-enhancing technologies.

The cognitive security market size is expected to see exponential growth in the next few years. It will grow to $61.25 billion in 2028 at a compound annual growth rate (CAGR) of 34.2%. The projected growth in the forecast period can be attributed to several factors, including the exponential growth of data, advancements in natural language processing (NLP), the implementation of AI-powered personalization, transformation within the healthcare industry, and the emphasis on explainable AI (XAI) and trustworthiness. Major trends anticipated in the forecast period include cross-industry collaboration, exponential growth in data volume, an emphasis on explainable AI (XAI), the integration of cognitive systems in edge computing, cross-industry adoption, and a focus on cognitive automation.

The increasing incidence of cyberattacks and security breaches is anticipated to drive the expansion of the cognitive security market in the future. Cyberattacks and security breaches involve unauthorized access, disruption, or harm to computer systems, networks, or stored information. Cognitive security employs AI and machine learning techniques to identify, detect, and counteract cyber threats effectively. For example, in January 2024, AAG Solutions LLC reported an 81% increase in global cyberattacks in 2022 compared to 2021, with the cost of cyber breaches reaching $4.35 million in 2022. Furthermore, projections suggest that cybercrime could cost the global economy $7 trillion in 2022, rising to $10.5 trillion by 2025. Hence, the rising frequency of cyberattacks and security breaches is propelling the growth of the cognitive security market.

Key players in the cognitive security market are concentrating on innovative advancements such as cognitive security capability to enhance their competitive edge and address the evolving threat landscape. Cognitive security capability involves applying AI and machine learning techniques and technologies to bolster threat detection. For instance, in September 2023, Linksys Holdings, Inc. unveiled Cognitive Security capability, aiming to optimize user devices online and ensure secure WiFi usage. This practice utilizes AI and ML techniques to enhance threat detection, understand threat context, identify patterns, and improve cyber defense capabilities in response to evolving threats. These features enable informed decision-making by analyzing extensive data from various sources.

In August 2023, Cisco acquired Oort Inc. to enhance its identity and access management technology and extend its Extended Detection and Response (XDR) capabilities. The acquisition aims to incorporate Oort's distributed identity threat detection platform into Cisco's Security Cloud, enhancing user context telemetry and integrating capabilities such as Duo Identity Access Management (IAM) and ITDR technology. Oort Inc. specializes in providing cognitive-based threat quantification through its distributed identity threat detection platform.

Major companies operating in the cognitive security market report are Google LLC, Dell Technologies Inc., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Cybraics Inc., Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Inc., DarKTrace Ltd., LogRhythm Inc., Exabeam Inc., Securonix Inc., Expert System S.p.A., SparkCognition Inc., Demisto Inc., Attivo Networks Inc., BluVector Inc., Awake Security Inc., FeedzAI Inc., Gurucul Solutions LLC, FeedzAI Inc., Deep Instinct Ltd., Cybraics Inc.

North America was the largest region in the cognitive security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cognitive security market consists of revenues earned by entities by providing services such as threat intelligence, anomaly detection and risk mitigation, automated compliance management, cybersecurity, and cloud security. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive security market also includes sales of biometric sensors, secure edge computing devices, and hardware security modules (HSMs). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Cognitive security entails leveraging cognitive computing and artificial intelligence (AI) to detect, analyze, and respond to security incidents in real time, employing advanced algorithms and machine learning techniques to identify patterns and make intelligent decisions.

The primary components of cognitive security include solutions and services. Services encompass the resolution or answer to specific issues, providing a means to overcome obstacles or address particular needs. These services span various security domains such as physical security, cybersecurity, network security, cloud security, application security, and endpoint security. Cognitive security solutions are applied across diverse applications including threat intelligence, anomaly detection and risk mitigation, automated compliance management, among others. End users of cognitive security solutions encompass sectors such as aerospace and defense, government, banking, financial services, insurance, IT and telecom, healthcare, and retail.

The cognitive security market research report is one of a series of new reports that provides cognitive security market statistics, including cognitive security industry global market size, regional shares, competitors with a cognitive security market share, detailed cognitive security market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive security industry. This cognitive security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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