Westford, USA, March 06, 2023 (GLOBE NEWSWIRE) -- The increasing number of cyber-attacks on high-tech companies, defense establishments, and government agencies has led to North America taking a significant position in the AI in cybersecurity market. The banking industry also recognizes the importance of AI-based cybersecurity solutions in safeguarding customer privacy and protecting sensitive financial information. The rise in privacy concerns and the frequency and complexity of cyber threats have contributed to the market's growth. With the advancements in AI technology, cybersecurity professionals are increasingly turning to AI solutions to combat cyber threats effectively.
The global cyber security market is rapidly growing and is expected to surpass USD 242 billion by 2028, according to SkyQuest. This growth is due to increasing cyber threats and attacks on businesses and individuals worldwide. As a result, the industry is witnessing a significant demand for advanced technology solutions to address the growing cyber security concerns.
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Browse in-depth TOC on the "AI in Cybersecurity Market"
- Pages - 265
- Tables - 149
- Figures - 87
Artificial intelligence (AI) in cybersecurity has become highly important in recent years as the number and complexity of cyber threats have grown. As a result, AI in cybersecurity market has also seen significant growth, with various organizations and industries investing in this technology to enhance their cybersecurity posture.
Prominent Players in AI in Cybersecurity Market
- Intel Corporation
- IBM Corporation
- NVIDIA Corporation
- Samsung Electronics Co. Ltd.
- Amazon Web Services, Inc.
- Xilinx Inc.
- Micron Technology Inc.
- Imperva
- Fortinet, Inc.
- Palo Alto Networks, Inc.
- Cisco Systems, Inc.
- McAfee LLC
- Juniper Networks, Inc.
- Sophos Ltd.
- Darktrace
- Vectra AI, Inc.
- LogRythms, Inc.
- Cylance Inc.
- NortonLifeLock Inc.
Machine Learning Algorithms Pave the Way for More Efficient and Accurate Cybersecurity Solutions in the AI-driven Era of Digital Protection
The AI in cybersecurity market is witnessing significant growth, with the machine learning segment leading in revenue share in 2022. The adoption of deep learning across various end-use industries is expected to drive further the growth of the machine learning technology segment, which is projected to witness a higher CAGR from 2023 to 2030. According to recent research conducted by SkyQuest, the global machine learning industry is expected to grow significantly and reach a value of USD 164.05 billion by 2028. This projection indicates the positive outlook for the machine learning segment in the AI cybersecurity industry. Machine learning has emerged as a vital tool in combating these threats by enabling computers to learn from data and identify patterns that can help detect and prevent cyber-attacks.
The AI in cybersecurity market has been rapidly growing, and North America had been leading in revenue share in 2022. This can be attributed to the increase in network-connected devices and the growing use of the region's IoT, 5G, and Wi-Fi 6 technologies. In addition, the surge in 5G network expansion across various industries, including automotive, healthcare, government, energy, and mining, has created potential entry points for hackers. Therefore, organizations have invested heavily in AI-based cybersecurity solutions to safeguard their networks and data.
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Service Segment to Capture Significant Share Thanks to Increasing Emphasis for AI-Powered Cybersecurity Services to Protect from Evolving Cyber Threats
AI in cybersecurity market has grown tremendously recently, with the service segment accounting for the largest share in 2022. Such a trend is projected to remain prevalent in the coming years, with the service segment likely to take a giant lead from 2023 to 2030. According to a recent study conducted by SkyQuest, cybercrime has significantly impacted people in the United States, costing them an estimated $6 billion in 2021-2022. This figure highlights cybercriminals' increasing threat to individuals, businesses, and the wider community. As a result, many organizations are turning to AI-based cybersecurity services to improve their overall security posture.
According to recent market research, Europe is set to emerge as a promising growth destination for companies operating in the AI in cybersecurity market by 2030. This trend is primarily driven by the region's robust government policies and a surge in cyber threats across various sectors such as automotive, healthcare, government, and IT & telecommunication. To capitalize on this growth opportunity, businesses in the AI cybersecurity market are expected to invest heavily in organic and inorganic growth strategies. This will help them enhance their capabilities in AI cybersecurity and bolster their market position.
AI in cybersecurity is highly competitive, and companies in this industry must be vigilant about emerging opportunities and trends to maintain a competitive edge. SkyQuest's report on AI in cybersecurity market provides valuable insights for businesses seeking to expand their operations and take the lead in the competitive industry. This knowledge can aid in making informed decisions that will drive success in this rapidly changing market.
Key Developments in AI in Cybersecurity Market
- Microsoft and MITRE have collaborated to develop a new plug-in that incorporates various open-source software tools aimed at helping cybersecurity experts effectively prepare for potential attacks on machine learning (ML) systems. The plug-in combines several open-source tools already widely used in the cybersecurity industry, including Adversarial Robustness Toolbox, CleverHans, and ART. With this new plug-in, security experts can identify and address potential threats before they cause significant damage.
- DarkLight, a renowned technology firm, has recently partnered with Resecurity, a prominent cybersecurity company. This partnership aims to integrate their strengths and deliver an advanced, comprehensive endpoint protection, risk management, and cyber threat intelligence platform. The company's unified platform enables organizations to effectively manage their security risks and mitigate potential cyber-attacks. The platform combines threat intelligence, risk management, and endpoint protection to deliver an all-in-one solution for cyber defense.
- SlashNext, a leading cybersecurity firm, has launched new capabilities that leverage generative AI technology developed in-house. These advanced capabilities are designed to protect against email-based attacks created using similar technology, such as OpenAI's popular ChatGPT application. However, as more and more organizations rely on AI-powered applications to streamline their operations and enhance their customer experience, cybercriminals have quickly exploited this technology for malicious purposes.
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Key Questions Answered in AI in Cybersecurity Market Report
- How do driving factors in the global market positively impact the growth of specific industries, and what hindering factors can hinder this growth?
- Which are the most successful strategies and tactics top companies have used to overcome challenges and seize lucrative opportunities in the global market?
- In which geographic regions are the highest growth rates in revenue and sales projected within the global market, and which sectors are expected to experience the most growth?
- What are players' most significant opportunities and obstacles when operating within specific global market segments, and how can they navigate them effectively?
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