ARTIFICIAL INTELLIGENCE IN CHATBOT SECURITY MARKET ANALYSIS

Regional Analysis

Regional Insights

North America held a dominant position in the global artificial intelligence in chatbot security market in 2018, and is expected to retain its dominance throughout the forecast period. This growth is attributed to rising cyber-attacks in this region. U.S. accounted for the major market share in the region, owing to increasing cyber-attacks on industries such as healthcare, banking and financial, and retail and manufacturing. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$1.33 billion globally, in which, California witnessed the highest recorded loss with over US$ 255 million. Additionally, in 2016, around 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany.

The market in Asia Pacific is estimated to exhibit the highest CAGR over the forecast period. This is attributed to rising adoption of machine learning and natural language processing technologies as well as increasing number of 5G pilot projects in the region. These features of AI integrated Chabot deliver more accurate result to the users. Therefore, adoption of AI based Chabot is expected to increase in various verticals in order to improve accuracy of the system, which has fuelled growth of the market. For instance, China Telecom Corporation Ltd. established a new 5G base station in Lanzhou on December 2017, to expand 5G pilot projects in China. This in turn, is expected to boost growth of the artificial intelligence in chatbot security market over the forecast period.