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AI in Cyber Security Market - Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Offering (Hardware, Software And Services), Deployment Type (On Premises And Cloud), Security Type (Network Security, Endpoint Security, Application Security And Cloud Security), Technology (Context Aware Computing, Machine Learning And Natural Language Processing) End User (BFSI, Retail, Government And Defense, Manufacturing, Infrastructure, Enterprise, Healthcare, Automotive And Transportation And Other End Users) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 11931
Pages: 150
Formats: report pdf report excel report power bi report ppt

Global AI in Cyber Security Market Size (2024 to 2029)

The global artificial intelligence (AI) in cyber security market is predicted to reach USD 10.85 billion in 2024 and USD 30.92 billion by 2029, growing at a CAGR of 23.30% during the forecast period.

Artificial intelligence has proven to be a crucial tool in reducing costs associated with various processes, development, manufacturing, automation, monitoring, adaptation, and many others. In contrast, AI in cyber security enables the expertise to analyze, study, and understand cybercrime with speech recognition technology, Facebook facial recognition software, and also Google’s search engine as it is designed in such a way that it responds to the cyber-attacks in a few milliseconds.

Global AI in Cyber Security Market Drivers:

The increasing vulnerability of WiFi networks to security threats is expected to play an essential role in the growth of the market of Artificial Intelligence in Cyber Security across the globe. Another factor, such as underlying opportunities for Artificial Intelligence in the cybersecurity market, promotes the growth of the revenue rate of Artificial Intelligence in the Cyber Security market during the forecast period. Furthermore, the growing need for cloud-based security solutions among small and medium-sized enterprises and also increased use of social media for business functions, increased number of connected devices, growing adoption of the Internet of Things, and rising instances of cyber threats are some of the major growth supporting factors of Artificial Intelligence in Cyber Security market.

Global AI in Cyber Security Market Restraints:

The incapability of Artificial Intelligence against a zero-day threat is one of the crucial barriers to market growth. The unavailability of professional expertise is also one of the major restraints hindering the growth of artificial intelligence in the security market.

Impact of COVID-19 on the global AI in cyber security market:

Most companies have given work from home to their employees to reduce the spread of the virus as per government regulations. Due to this, internet usage has rapidly increased, which has exposed several loopholes for phishing attacks, mail spam, data theft, and ransomware attacks. To eradicate these problems, most companies use AI in cyber security to monitor mail and review tactical actions. So, AI in the cyber security market has made impeccable growth during the pandemic and is also expected to increase further in the upcoming years.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

23.3%

Segments Covered

By Offering, Deployment Type, Security Type, End User, Application, Technology, and Region.

Various Analyses Covered

Global, Regional, and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Micron Technology, Inc. (US), IBM Corporation (US), Acalvio Technologies (US), SparkCognition Inc. (US), Palo Alto Networks Inc. (US), Amazon Web Services, Inc. (US), VIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US), Samsung Electronics Co., Ltd (South Korea), Darktrace (UK), Cylance Inc. (US), Vectra AI, Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US) and Symantec Corporation (US) and Others.

 

This research report on the global Artificial Intelligence in the security market is segmented based on offering, deployment type, security type, technology, application, end-user, and region.

Global AI in Cyber Security Market - By Offering:

  • Hardware

  • Software

  • Services

The hardware segment held a prominent share and is predicted to remain at the forefront throughout the forecast period.

Global AI in Cyber Security Market - By Deployment Type:

  • On-Premises

  • Cloud

The on-premises deployment segment holds the major market share and is expected to dominate during the forecast period.

Global AI in Cyber Security Market - By Security Type:

  • Network Security

  • Endpoint Security

  • Application Security

  • Cloud Security

Among these segments, the cloud security segment held the prominent share, and it is predicted to remain at the forefront in the upcoming years due to the increased adoption of cloud services across the globe.

Global AI in Cyber Security Market - By Technology:

The machine learning segment holds the major share of the market. It is expected to dominate during the forecast period due to the increased adoption of machine learning among the key end-users.

Global AI in Cyber Security Market - By Application:

The anti-virus/anti-malware segment holds the major share of the market.

Global AI in Cyber Security Market - By End User:

  • BFSI

  • Retail

  • Government and Defence

  • Manufacturing

  • Infrastructure

  • Enterprise

  • Healthcare

  • Automotive and Transportation 

  • Others

Global AI in Cyber Security Market - By Region:

  • North America

  • Asia Pacific

  • Europe

  • Latin America

  • Middle East and Africa

North America has a prominent market share due to factors such as the rising adoption of Artificial Intelligence in cybersecurity solutions. Furthermore, increasing challenges related to cyber threats and the rise of advanced technologies implemented to manage the cyber security landscape also promote the market's growth. The North American region is expected to hold dominance during the forecast period. Europe is next to North America in dominating the shares of artificial intelligence in the cyber security market. Rising disposable income and the growing utilization of smartphones, laptops, and other electronic devices are majorly propelling the market demand in Europe. The Asia Pacific region is also expected to increase market growth due to the growing penetration of the internet and the shift towards digitization of internal processes, which propels the demand for AI in the cyber security market in the Asia Pacific region. Latin America, Middle East & Africa are expected to grow significantly in the coming years.

KEY MARKET PARTICIPANTS:

The major companies operating in the global AI in cyber security market include Micron Technology, Inc. (US), IBM Corporation (US), Acalvio Technologies (US), SparkCognition Inc. (US), Palo Alto Networks Inc. (US), Amazon Web Services, Inc. (US), VIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US), Samsung Electronics Co., Ltd (South Korea), Darktrace (UK), Cylance Inc. (US), Vectra AI, Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US), and Symantec Corporation (US).

RECENT HAPPENINGS IN THE MARKET:

  • In March 2019, NVIDIA Company recently announced the release of an AI computer named Jetson Nano, making it possible to create millions of intelligent systems.

  • Cylance Company has announced their Cylance native AI platform, which delivers a full suite of security solutions through a single, agile agent for comprehensive attack surface protection with deep learning AI algorithms in its DNA to support automated threat detection, prevention, forensic investigation, and also the response capabilities to the customers across the world.

  • Darktrace company has announced a strategic partnership that combines Dark Trace’s cyber-artificial intelligence with Endace’s unparalleled forensic capabilities. In contrast, this combined solution empowers organizations to discover in-progress attacks anywhere on the digital infrastructure with Darktrace’s Artificial Intelligence.

  • Symantec Company has announced new data loss prevention capabilities that make it easier for customers to protect their confidential data from malicious data-stealing apps and help meet regulatory compliance requirements.

  • Cylance Company has acquired Blackberry Limited, in which Cylance’s machine learning and artificial technology are strategic additions to Blackberry’s end-to-end secure communications portfolio.

 

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FAQ's

What segments within the AI in Cyber Security market are driving the majority of the market share?

Endpoint security and threat intelligence segments are major contributors, collectively holding over 50% of the global market share.

Which industries are leading in the adoption of AI in Cyber Security, and what is their respective market share?

Financial services and healthcare sectors are at the forefront, collectively holding a 35% market share, emphasizing the critical need for robust cybersecurity measures in these domains.

How are small and medium-sized enterprises (SMEs) contributing to the AI in Cyber Security market share globally?

SMEs are increasingly adopting AI-driven cybersecurity solutions, accounting for 20% of the global market share as they recognize the importance of advanced security measures.

What role do government initiatives play in shaping the AI in Cyber Security market share?

Government initiatives, including cybersecurity regulations and investments, are pivotal, contributing to a 15% increase in the overall global market share.

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