New York, United States , June 20, 2023 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence in Cybersecurity Market Size is to grow from USD 15.25 billion in 2022 to USD 96.81 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 20.3% during the forecast period.
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Artificial intelligence is transforming cybersecurity by bolstering threat detection, prevention, and response capabilities. AI systems leverage machine learning algorithms to analyze vast datasets, identify patterns, and detect anomalies, enabling swift identification of potential cyber-attacks. Automation facilitated by AI enhances security processes, reduces response times, and augments human capabilities. Proactive threat hunting, behavior-based authentication, and threat intelligence analysis are empowered by AI. However, challenges such as adversarial attacks and ethical concerns arise with increased AI adoption. Integrating AI into cybersecurity strategies is vital to stay ahead of evolving threats and safeguarding critical assets in the ever-changing cyber landscape.
Report Coverage
This research report categorizes the market for artificial intelligence in cybersecurity market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the artificial intelligence in cybersecurity market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the artificial intelligence in cybersecurity market.
Browse key industry insights spread across 220 pages with 133 Market data tables and figures & charts from the report on, "Global Artificial Intelligence in Cybersecurity Market Size, Share, and COVID-19 Impact Analysis, By Type (Network Security, Endpoint Security, Application Security, and Cloud Security), By Offering (Hardware, Software, and Services), By Technology (Machine Learning, Natural Language Processing, and Context-Aware Computing), By Application (Identity & Access Management, Risk & Compliance Management, Data Loss Prevention, Fraud Detection/Anti-Fraud, and Others), By Vertical (BFSI, Retail, Government & Defense, Manufacturing, Healthcare, Automotive & Transportation, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here:
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The government & defense segment is expected to grow at a CAGR of around 23.4% during the forecast period.
Based on vertical, the global artificial intelligence in cybersecurity market is segmented into BFSI, retail, government & defense, manufacturing, healthcare, automotive & transportation, and others. The government and defense sector are poised for significant growth in the forecast period in the field of cybersecurity. Several factors contribute to this expected surge. Governments worldwide are increasingly recognizing the importance of securing their critical infrastructure and sensitive data from cyber threats. This recognition drives substantial investments in advanced cybersecurity solutions. Additionally, the growing sophistication of cyber-attacks targeting government agencies and defense organizations necessitates robust cybersecurity measures. The adoption of emerging technologies like AI and machine learning, coupled with strict regulatory requirements, further fuels the demand for advanced cybersecurity solutions in the government and defense sectors.
The fraud detection/anti-fraud segment held the largest market share of around 24.8% in 2022.
Based on application, the global artificial intelligence in cybersecurity market is segmented into identity & access management, risk & compliance management, data loss prevention, fraud detection/anti-fraud, and others. The fraud detection/anti-fraud segment has secured the largest market share in the cybersecurity industry. This dominance can be attributed to several key factors. The rise in sophisticated cyber fraud and financial crimes has necessitated robust fraud detection systems. Organizations across sectors, including banking, e-commerce, and insurance, heavily invest in anti-fraud solutions to protect their customers and assets. The increasing adoption of digital payment systems and online transactions has created new avenues for fraudulent activities, emphasizing the need for effective fraud prevention measures. Moreover, advancements in technologies such as artificial intelligence and machine learning have enhanced the accuracy and efficiency of fraud detection systems, further driving the growth of this segment.
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Europe is predicted to grow at a higher CAGR of around 24.5% over the projected period.
Based on region, Europe is poised for rapid growth in the forecast period in the field of artificial intelligence in cybersecurity. Several factors contribute to this expected surge. The region has stringent data protection regulations, including the general data protection regulation, which prioritizes data privacy and security. This regulatory environment drives the adoption of AI-powered cybersecurity solutions. European organizations face a growing number of cyber threats, necessitating advanced technologies like AI to protect critical assets. Additionally, Europe has a robust technology ecosystem and a skilled workforce, fostering innovation and research in AI. The increasing awareness of cybersecurity risks and the need for proactive defense measures further fuel the growth of AI in cybersecurity in the European market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global artificial intelligence in cybersecurity market include Acalvio Technologies, Inc., Amazon Web Services, Inc., Cylance Inc., Darktrace, FireEye, Inc., Fortinet, Inc., IBM Corporation, Intel Corporation, LexisNexis, and Micron Technology, Inc.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global artificial intelligence in cybersecurity market based on the below-mentioned segments:
Artificial Intelligence in Cybersecurity Market, By Type
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
Artificial Intelligence in Cybersecurity Market, By Offering
- Hardware
- Software
- Services
Artificial Intelligence in Cybersecurity Market, By Technology
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
Artificial Intelligence in Cybersecurity Market, By Application
- Identity & Access Management
- Risk & Compliance Management
- Data Loss Prevention
- Fraud Detection/Anti-Fraud
- Others
Artificial Intelligence in Cybersecurity Market, By Vertical
- BFSI
- Retail
- Government & Defense
- Manufacturing
- Healthcare
- Automotive & Transportation
- Others
Artificial Intelligence in Cybersecurity Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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