AI in Cybersecurity Market Share, Size, Trends, Industry Analysis Report, By Type (Network Security, Cloud Security, Endpoint Security, Application Security), By Offering, By Technology, By Application, By Vertical, By Region, And Segment Forecasts, 2024 - 2032
- Published Date:Mar-2024
- Pages: 117
- Format: PDF
- Report ID: PM4386
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global AI in cybersecurity market was valued at USD 20.19 billion in 2023 and is expected to grow at a CAGR of 24.2% during the forecast period.
This growth is fueled by the increasing adoption of artificial intelligence (AI) technologies, particularly natural language processing (NLP) and machine learning (ML), which are gaining prominence in safeguarding against, detecting, and responding to cyber threats. The surge in cyberattacks, particularly targeting high-tech companies, defense establishments, and government agencies, has heightened the urgency for advanced AI in cybersecurity. As these sectors face an exponential increase in threats, AI technologies are leveraged to provide robust protection. Cyber AI, encompassing techniques like machine learning and natural language processing, is sought after for its proactive mechanism in threat detection, ensuring high accuracy in identifying and responding to potential cyber threats before they can cause harm.
To Understand More About this Research:Request a Free Sample Report
AI in cybersecurity has seen a significant demand, particularly in the continuous verification of user identities through behavioral biometrics. There is a growing emphasis among industry participants on prioritizing machine learning (ML) algorithms to harness the capabilities of AI and enhance security intelligence. This trend is particularly evident in the banking industry, where the increasing importance of AI-based cybersecurity solutions is driven by rising concerns about privacy and the escalating frequency and complexity of cyber threats.
Furthermore, the anticipation of market expansion in the coming years is closely tied to the increasing demand for AI-based cybersecurity solutions from SMEs. As these businesses recognize the need for advanced and adaptive cybersecurity measures, the market is expected to witness substantial growth, driven by a broader adoption of AI technologies to address the evolving cybersecurity landscape.
Industry Dynamics
Growth Drivers
- AI enables the development of advanced machine learning algorithms
In the context of user verification, AI, especially through behavioral biometrics, allows for a continuous and adaptive assessment of user behavior, offering a more robust and dynamic approach compared to traditional methods. ML algorithms play a crucial role in this by learning and adapting to evolving patterns, thus contributing to enhanced security intelligence. The banking industry, dealing with sensitive financial information, places a premium on cybersecurity solutions that can effectively address privacy concerns and combat sophisticated cyber threats. The adoption of AI in this sector serves to fortify security measures and respond to the dynamic nature of cyber threats.
Report Segmentation
The market is primarily segmented based on type, offering, technology, application, vertical, and region.
|
By Type |
By Offering |
By Technology |
By Application |
By Vertical |
By Region |
|
|
|
|
|
|
To Understand the Scope of this Report:Speak to Analyst
By Type Analysis
- Network security segment accounted for the largest market share in 2023
Network security segment accounted for the largest share. This is primarily due to the widespread adoption of ML algorithms and AI. Businesses are increasingly relying on cybersecurity measures to safeguard against and thwart cyber-attacks. The integration of hardware is poised to play a pivotal role in enhancing business efficiency and scaling up operations. Notably, the zero-trust model, which necessitates the authorization and authentication of all users, has gained traction.
Endpoint security segment will grow rapidly. Organizations are increasingly adopting AI-based endpoint security to facilitate ongoing monitoring, risk-based application control, and automated classification. Given the growing prevalence of endpoint attacks, there is a heightened focus on leveraging AI-based real-time authentication and behavioral analytics to reinforce security solutions. Additionally, the increased use of the connected devices has prompted the companies to deploy the AI based endpoint security for the suspicious activities & safeguarding at-risk information.
By Application Analysis
- Fraud detection segment held the significant market share in 2023
Fraud detection segment held the significant AI in cybersecurity market share. AI in cybersecurity is poised to gain momentum, particularly in fraud detection and anti-fraud measures as a proactive approach to prevention controls. Machine learning has emerged as a practical tool for enhancing the capacity of governments and other end-users to deter fraudulent activities amid a surge in fraud cases. For instance, in February 2022, data from the Federal Trade Commission (FTC) indicated the receipt of 2.8 million fraud reports from consumers in the preceding year. In response, AI tools are expected to become increasingly relevant in preventing fraud, mitigating email phishing, and identifying fake records.
By Offering Analysis
- Services segment held the significant market share in 2023
Services segment held the significant market share. The robust demand for application program interfaces, encompassing ML algorithms, sensor data, speech, and vision, is anticipated to be a driving force behind the industry's expansion. The software, known for its capability to accurately detect abnormal activities, is gaining prominence, especially with the increasing trend towards hardware operations. Industry participants are likely to prioritize cutting-edge cybersecurity solutions, potentially allocating funds towards the development and enhancement of the software platform.
By Technology Analysis
- ML segment held the significant market share in 2023
ML segment held the significant market share. ML technology is poised for significant growth, driven by the increasing prevalence of deep learning (DL) across various end-use industries. Major companies such as Google and IBM have been leveraging ML for tasks like email filtering and threat detection. Organizations are increasingly harnessing the capabilities of both ML and DL to enhance their cybersecurity practices. For instance, DL has become a prominent trend in image recognition applications, extending to areas such as medical diagnoses and autonomous vehicles. Moreover, ML platforms are gaining popularity for automating the monitoring process, identifying deviations from the norm, and efficiently managing the vast volumes of data generated by security tools.
NLP segment will grow with rapid pace. This trend is primarily driven by the heightened importance of sentiment analysis, natural language inference, text summarization, and question-answering systems (QAS). Additionally, the increasing demand for NLP stems from its ability to identify intersections in data, frameworks, and standards, as well as to detect vulnerabilities in security infrastructure. Over the next few years, NLP is poised to make significant advancements, expanding its applications in AI for cybersecurity through automation and customization.
Regional Insights
- North America dominated the global market in 2023
North America dominated the global market. This is primarily attributed to the significant increase in network-connected devices, driven by the expanding adoption of Internet of Things (IoT), 5G, & Wi-Fi 6 technologies. Across various sectors including automotive, healthcare, government, energy, and mining, organizations have been actively advancing the deployment of 5G networks. However, this proliferation of connected devices and the expansion of 5G networks have raised cybersecurity concerns, as they represent potential entry points for hackers.
These technologies play a crucial role in enabling real-time assessment and monitoring of network activities. ML platforms can identify patterns and anomalies, advanced analytics enhance the interpretation of security data, and asset mapping and visualization platforms provide a comprehensive view of network assets, vulnerabilities, and potential threats.
Based on security data from CUJO AI, almost 60% of security threats to mobile devices are linked to browsing activities. In response to these cybersecurity concerns, stakeholders in in the region are expected to turn to AI algorithms for solutions.
Key Market Players & Competitive Insights
Established industry players and newcomers are anticipated to make investments in machine learning (ML), neural networks, and natural language processing (NLP) to empower end-users with the capabilities of AI and facilitate insights. Recently, cyber attackers and other criminals have increasingly utilized AI to enhance the potency of their attacks. Major players in the field are expected to enhance their cybersecurity defenses by incorporating AI technologies.
Some of the major players operating in the global market include:
- Acalvio Technologies, Inc.
- Amazon Web Services, Inc.
- Cylance Inc. (BlackBerry)
- Darktrace
- FireEye, Inc.
- Fortinet, Inc.
- IBM Corporation
- Intel Corporation
- LexisNexis
- Micron Technology, Inc.
Recent Developments
- In October 2023, AWS has introduced the European Sovereign Cloud AWS, an independent cloud service designed for Europe. This initiative aims to support customers in the public sector and heavily regulated industries in fulfilling stringent operational and regulatory demands related to data residency.
- In July 2023, Wipro has unveiled ai360, a holistic innovation ecosystem with a primary focus on artificial intelligence (AI). This initiative builds upon Wipro's decade-long investments in AI, aiming to seamlessly integrate AI capabilities into every internal tool, platform, and solution, both for the company's use and for client offerings.
AI in Cybersecurity Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 25.02 billion |
|
Revenue forecast in 2032 |
USD 141.64 billion |
|
CAGR |
24.2% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
By Type, By Offering, By Technology, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
AI in Cybersecurity Market Size Worth $ 141.64 Billion By 2032.
The top market players in AI in Cybersecurity Market include Acalvio Technologies, Amazon Web Services, Cylance, Darktrace, FireEye
North America is region contribute notably towards the AI in Cybersecurity Market.
The global AI in cybersecurity market is expected to grow at a CAGR of 24.2% during the forecast period.
AI in Cybersecurity Market report covering key segments are type, offering, technology, application, vertical, and region.
