New York, USA, June 21, 2023 (GLOBE NEWSWIRE) -- According to the research report by Market Research Future (MRFR), “AI in Cybersecurity Market Research Report: By Type, By Offering, By Vertical, By Application, By Region - Forecast 2032", the market is anticipated to acquire a valuation of approximately USD 96.3 Billion by the end of 2032. The reports further predict the market to flourish at a robust CAGR of over 22.50% during the assessment timeframe.
Market Synopsis:
The primary market factors accelerating the market growth include an exponential rise in cyberattacks against high-tech companies, the military, and governmental institutions, along with an increase in AI technologies like natural language processing and machine learning. Artificial intelligence (AI)-based tools like machine learning and natural language processing are increasingly being utilised to prevent, detect, and respond to threats.
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Key Players:
Key Companies in the AI in Cybersecurity market include:
- NVIDIA Corporation
- Intel Corporation
- Xilinx Inc.
- Samsung Electronics Co Ltd
- Micron Technology Inc.
- Amazon Web Services, Inc.
- IBM Corporation
- Microsoft Corporation
- FireEye, Inc.
- Palo Alto Networks, Inc.
- Juniper Networks, Inc.
- Fortinet, Inc.
- Cisco Systems, Inc.
- Check Point Software Technologies Ltd.
Scope of the Report - AI in Cybersecurity Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 96.3 Billion |
| CAGR during 2023-2032 | 22.50% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Growing demand for cloud-based security solutions. |
| Key Market Dynamics | Increasing AI technologies, such as natural language processing and machine learning and exponential rise in cyberattacks on high-tech companies, defense, and government agencies. |
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Furthermore, the requirement for sophisticated artificial intelligence (AI) cybersecurity solutions has been brought to light by an exponential rise in cyberattacks on defence, government, and high-tech companies. Because it can offer a proactive defence mechanism with accurate detection, cyber AI is currently in demand. For example, there is a significant need for AI to continuously authenticate users using behavioural biometrics. Players in the market should prioritise machine learning algorithms in order to leverage AI's potential to improve security intelligence. The rise in privacy concerns, the importance of AI-based cybersecurity solutions in the banking industry, and the frequency and complexity of cyberthreats are factors driving market expansion. Furthermore, it is anticipated that this market would expand over the next several years in response to SMEs' growing demand for AI-based cybersecurity solutions.
Cybersecurity technology uses artificial intelligence to quickly assess systems and pinpoint network and computer system weaknesses. Additionally, it streamlines the process of managing vulnerabilities and swiftly securing corporate systems, freeing up firms to concentrate on crucial security duties. Businesses are significantly increasing their AI cybersecurity budgets, bolstering business approaches with cybersecurity plans, and creating cyber alertness programmes for customers and employees as a result of the fact that artificial intelligence in cybersecurity ensures the security of technological advancements and critical infrastructure. driving the market for AI in cybersecurity's revenue.
Segmentation:
AI in Cybersecurity market is segmented on the basis of Type, offering, technology, vertical, application, and region.
Cybersecurity and AI Network security, endpoint security, application security, and cloud security are all included in the market segmentation by type. In 2022, the global market was dominated by the network security segment. A sizeable amount of the market share is accounted for by the rising use of artificial intelligence and machine learning algorithms. Businesses employ cybersecurity to defend against and stop cyberattacks.
Hardware, software, and services are included in the market segmentation for AI in cybersecurity depending on offering. In 2022, the services sector will rule the worldwide market. The services industry is predicted to play a crucial role in assisting the growth of the global AI in cybersecurity market. A growing need for machine learning techniques, sensor data, voice, and vision APIs will propel the market.
Based on technology, the AI in Cybersecurity Market is segmented into machine learning, context-aware computing, and natural language processing (NLP). In 2022, the machine learning category dominated the whole market. Machine learning technology will expand quickly as deep learning becomes more commonplace across end-use industries. Leading companies like Google and IBM have been using machine learning for threat detection and email filtering.
The BFSI, retail, government & defence, manufacturing, enterprise, healthcare, automotive & transportation, and other verticals are included in the segmentation of the AI in Cybersecurity market. In 2022, the market for AI in cybersecurity was dominated by the enterprise segment. However, the BFSI industry may develop into a sizable market for cyber AI in order to halt data leaks, thwart cyberattacks, and enhance security.
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A fundamental shift has occurred in how people utilise crowdfunding to send payments, make purchases, apply for loans, and withdraw money as a result of the explosion of ideas and technological advancements.
Identity and access management, risk and compliance management, data loss prevention, unified threat management, fraud detection/anti-fraud, threat intelligence, and others are included in the application-based segmentation of the AI in Cybersecurity Market. In 2022, the AI in Cybersecurity Market was dominated by the fraud detection/anti-fraud sector.
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was dominated by the North American AI in Cybersecurity Market (45.80%). The adoption of IoT, 5G, and Wi-Fi 6 is mostly to blame for the rise in network-connected devices.
Businesses in the automotive, healthcare, government, energy, and mining sectors have been driving the construction of the 5G network, which could be a point of access for hackers. Additionally, the North American AI in cybersecurity market in North America saw the highest growth in Canada, while the U.S. market had the largest market share.
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From 2023 to 2032, the Asia Pacific AI in Cybersecurity market is anticipated to grow significantly. The region is experiencing rapid economic growth, a rise in the demand for connected devices, increased cybersecurity awareness among businesses, widespread use of cutting-edge technologies like IoT, 5G, and cloud computing, as well as rising privacy and security concerns. Additionally, the Asia-Pacific region's AI in Cybersecurity market in China had the greatest market share and was expanding at the fastest rate.
Leading industry players are spending a lot of money on R&D in order to diversify their product offerings, which will drive the AI in Cybersecurity market to expand even further. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organisations. Market participants are also engaging in a number of strategic actions to increase their global footprint.
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