Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Solution, and Service), Security Type, Technology (ML, NLP, Context-Aware and Computer Vision), Application (IAM, DLP, and UTM), Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for Al in Cybersecurity is projected to grow from USD 22.4 billion in 2023 to USD 60.6 billion by 2028, at a CAGR of 21.9%
The market study covers AI in Cybersecurity across segments. It aims to estimate the market size and the growth potential across different segments, such as offering, security type, technology, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The rising frequency and sophistication of cyberattacks are compelling enterprises to explore advanced and innovative defense solutions, driving the growth of the artificial intelligence in cybersecurity market. The expanding use of IoT devices across diverse applications, coupled with the escalating volume of data generated by these devices, presents lucrative opportunities for the global AI in cybersecurity market. The increasing demand for adaptable security services across businesses is expected to propel market growth. Furthermore, the emergence of visualization tools for security data is anticipated to provide lucrative growth prospects in the forecast period.
North America, leads globally in security vendors and cyber incidents. Safeguarding critical infrastructures and sensitive data faces increasing challenges with the rise of interconnections and digitalization. The US, a significant early adopter of cybersecurity solutions, is expected to dominate market revenue. Escalating cyberattacks, including DDoS, ransomware, and spear phishing, pose critical economic and national security challenges.
Despite technological advancements such as cloud computing and IoT adoption, businesses are confronted with sophisticated threats. The region's vulnerabilities and compliance demands make North America the most lucrative market for various cybersecurity vendors, with the US and Canada at the forefront.
The Automotive vertical is projected to hold the largest CAGR during the forecast period
AI in Cybersecurity is being adopted in the healthcare and life sciences vertical to enable smart medical facilities with digital diagnosis and remote patient monitoring. The automotive industry is embracing AI for cybersecurity due to the growing complexity of cars, the rise of vulnerable autonomous vehicles, and a vast global supply chain ripe for attack.
AI excels at real-time threat detection, data protection, and automating manual tasks, leading to a more efficient and adaptable defense against cyberattacks. However, challenges such as data bias and opaque AI models necessitate careful implementation and integration with existing systems. Additionally, AI is poised to play a crucial role in ensuring the future of connected and autonomous vehicles.
Among applications, Identity & Access Management to account for the largest market during the forecast period
The exponential growth of Identity & Access Management (IAM) in the AI in cybersecurity market is propelled by several key factors. The rising complexity of cyber threats necessitates advanced security measures, where IAM plays a pivotal role in fortifying defenses. The integration of Artificial Intelligence enhances IAM capabilities, enabling real-time threat analysis and adaptive access controls.
Additionally, regulatory compliance mandates drive the adoption of IAM solutions, ensuring organizations meet stringent security standards. Furthermore, the surge in remote work amplifies the need for robust IAM, safeguarding access across diverse environments. IAM in AI cybersecurity is thus buoyed by the imperative to combat evolving cyber threats, comply with regulations, and secure remote access.
Among technology, machine learning is anticipated to account for the largest market share during the forecast period
The adoption of Machine Learning (ML) in the AI in cybersecurity market is experiencing a robust upward trajectory. ML's capability to analyze vast datasets enables proactive threat detection and response. Its application in anomaly detection and pattern recognition enhances cybersecurity measures, identifying potential risks in real time. ML-driven solutions adapt and evolve, staying ahead of sophisticated cyber threats.
The dynamic nature of cyberattacks necessitates a continuous learning approach, aligning with ML's strength. Organizations are increasingly integrating ML into their cybersecurity strategies to bolster defense mechanisms, mitigate risks, and ensure resilient protection against the evolving landscape of cyber threats. The growing adoption underscores ML's pivotal role in fortifying AI-driven cybersecurity initiatives.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing adoption of IoT and increasing number of connected devices, Rising concerns of data protection, Increasing vulnerability of Wi-Fi networks to security threats), restraints (Rise in insider cyber threats), opportunities (Growing need for cloud-based security solutions among SMEs, Increasing use of social media for business functions), and challenges (Limited number of cybersecurity and AI professionals, Lack of interoperability with existing information systems)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the AI in Cybersecurity market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the AI in Cybersecurity market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in AI in Cybersecurity market strategies; the report also helps stakeholders understand the pulse of the AI in Cybersecurity market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 487 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $22.4 Billion |
| Forecasted Market Value (USD) by 2028 | $60.6 Billion |
| Compound Annual Growth Rate | 21.9% |
| Regions Covered | Global |
Companies Profiled
- Nvidia
- Intel
- Amd
- Samsung Electronics Co. Ltd
- Micron Technology
- IBM
- Aws
- Microsoft Corporation
- Palo Alto Networks
- Crowdstrike
- Gen Digital
- Trellix
- Cylance
- Lexisnexis Risk Solutions
- Securonix
- Sift Science
- Acalvio Technologies
- Darktrace
- Sparkcognition
- Fortinet
- Check Point Software Technologies
- High-Tech Bridge
- Deep Instinct
- Sentinelone
- Feedzai
- Vectra
- Zimperium
- Argus Cyber Security
- Nozomi Networks
- Bitsight Technologies
- Kaspersky Lab
- Bitdefender
- Eset
For more information about this report visit https://www.researchandmarkets.com/r/p4rq2t
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