Ever since data sharing between two computing devices
became possible, cyber-attacks have been leading to huge financial losses all
across the world. There are several types of cyber-crimes, such as data and
identity theft, email and password hacking, phishing, denial of service (DoS),
distributed denial of service (DDoS), and fraudulent transactions. With the
increasing awareness of organizations on the issue, they are spending more than
before on cyber security. But criminals are always one step ahead, as even
before some new data or network security software is launched, they find out
new ways to get into the system.
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Data security, network security, cloud security, and identity & access security, are the various services offered via vendors. Out of these, network security was the most widely provided service via such solutions, during 2013–2016, due to the growth in the usage of wireless communication devices and the vulnerability of wireless networks to attacks. During the forecast period, the usage of these solutions would increase the fastest for cloud security, as a result of the rising popularity of cloud computing. To save on operational costs, businesses are shunning traditional application deployment platforms in the favor of cloud.
Thus, with cyber criminals becoming increasingly smart
and the rate of internet-based attacks rising, the artificial intelligence(AI) in cyber security market is expected to grow too, from $1.2 billion in
2016 to $18.2 billion by 2023, at a CAGR of 36.0% during 2017–2023 (forecast
period). While large enterprises are already adopting such solutions to fend of
attackers, many mid-sized and other small businesses haven’t yet followed suit,
due to lower budgets.
This is why internet-based attacks are being increasingly
carried out on such companies, which is expected to prompt many of these to use
AI to protect their information technology (IT) infrastructure, software,
applications, and critical information. In the same vein, cloud computing is also making
inroads into cyber security, as it is more affordable for companies, especially
small and medium enterprises.
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Cloud-based protection for the IT infrastructure
improves data collection and collaboration and threat modeling, blocks threats,
and reduces the time between threat detection and neutralization. Additionally,
it also allows businesses to do away with the need to hire support personnel
and helps better manage their IT data, computing devices, servers, networks,
and applications.
