Westford,USA, June 10, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Artificial Intelligence (AI) in Cybersecurity Market will attain a value of USD 114.30 Billion by 2031, with a CAGR of 22.53% over the forecast period (2024-2031). The need for artificial intelligence (AI) in cybersecurity is being driven by the increasing use of real-time threat detection systems in security operations. Due to the growing complexity and frequency of cyberattacks, organisations are realising the need of proactive and prompt threat detection and response. The demand for real-time security solutions is being fueled by this technical advancement in advanced security solutions, which is supporting the growth of the AI in cybersecurity market.
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Artificial Intelligence (AI) in Cybersecurity Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $22.49 Billion |
| Estimated Value by 2031 | $114.30 Billion |
| Growth Rate | Poised to grow at a CAGR of 22.53% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Security Type, Technology, Application, Vertical |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Revolutionizing identity and access management in the Zero Trust Era |
| Key Market Opportunities | Cybersecurity skills gap mitigation |
| Key Market Drivers | Increasing data threats to boost demand for AI In cybersecurity market |
Driving Force Behind the Service Offering is Surge in Effectiveness in Mitigating Sophisticated Cyber Threats
Service offerings in the global AI in cybersecurity market, such as automated threat detection, real-time response, and predictive analytics, dominate due to their effectiveness in mitigating sophisticated cyber threats. A growing number of cyber-attacks, preference for IOT tools, plus submission to cloud services are propelling them to become a critical requirement where strong security frameworks need to be created.
Machine Learning is Leading Owing to Making Machine Learning Essential for Proactive and Effective Cybersecurity Solutions
As machine learning technology can analyse large volumes of data to find patterns and anticipate dangers, it leads the global AI cybersecurity market. Since cyber threats are increasing, attacks in this day and age are quite complex and real-time, adjustable protection measures are needed; machine learning is quite important for preventive and success-oriented cybersecurity solutions.
North America is Dominant Due to Huge Focus on Data Safety and Compliance
Thanks to the widespread use of IoT, 5G, and Wi-Fi 6, North America is the leader in AI cybersecurity, with businesses across a range of industries driving 5G expansion. Many significant firms are well-established in the region, and government agencies that place a high priority on data security and compliance are expected to drive the artificial intelligence in cybersecurity market's expansion.
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Artificial Intelligence (AI) in Cybersecurity Market Insight
Drivers:
- Increasing Data Threats to Boost Demand for AI In Cybersecurity Market
- Rise in Cyberattacks Alarming Statistics and Urgent Need for Robust Cybersecurity Measures
- AI-Powered Deception Technology
Restraints:
- Increasing Sophisticated Zero-day of AI to Hinder Market Growth
- Lack of Interoperability with Existing Information Systems
- AI Algorithms Inheriting Biases from Providers in Training Data
Prominent Players in Artificial Intelligence (AI) in Cybersecurity Market
- NVIDIA (US)
- Intel (US)
- Xilinx Inc. (US)
- Samsung Electronics Co., Ltd (South Korea)
- Micron Technology, Inc. (US)
- IBM Corporation (US)
- Amazon Web Services, Inc. (US)
- Microsoft (US)
- Palo Alto Networks Inc. (US)
- Trellix (US)
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Key Questions Answered in Global Artificial Intelligence (AI) in Cybersecurity Market Report
- By 2031, how much is the global AI cybersecurity market likely to be worth, and what is the anticipated compound annual growth rate (CAGR)?
- What are the main factorsdriving the need for AI in the cybersecurity market?
- What factors support North America's supremacy in the AI cybersecurity market?
This report provides the following insights:
- Analysis of key drivers (Key facilitator technology for from newer cyber-attacks & data threats, AI algorithms can quickly identify & respond to changing cyber threats, supporting overall security postureof any enterprise and AI smoothens incident response processes & reduces human error), restraints (Data privacy & compliance regulations limit, risk of adversarial attacks targeting AI systems in cybersecurity applications and growing ethical concerns & potential backlash from stakeholders), opportunities (Ransomware & malware necessitating a shift to cloud-based cybersecurity solutions, comprehensive protection across development & implementation phases and growth opportunities for providers of cloud-based data protection solutions), and challenges (Facilitating seamless data communication & exchange and effective delivery of security measures to individuals and businesses) influencing the growth of artificial intelligence (AI) in cybersecurity market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the artificial intelligence (AI) in cybersecurity market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the artificial intelligence (AI) in cybersecurity market.
- Market Development: Comprehensive information on lucrative emerging regions.
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market.
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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