The global report for Artificial Intelligence in Cybersecurity Market is projected to grow from USD 22.4 billion in 2023 to USD 60.6 billion by 2028, at a CAGR of 21.9% during the forecast period.
The surge in artificial intelligence (AI) technologies like natural language processing (NLP) and machine learning (ML) is vital for enhancing cybersecurity. With an increase in cyberattacks on tech firms, defense, and government agencies, the demand for advanced AI solutions has grown. Cyber AI, particularly in behavioural biometrics, is crucial for proactive threat protection. ML algorithms are a top priority for industry players to strengthen security intelligence. The banking sector, facing rising privacy concerns, emphasizes the significance of AI-based cybersecurity. As cyber threats evolve, the market is expected to expand, especially driven by demand from small- and medium-sized enterprises (SMEs).
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Artificial Intelligence in Cybersecurity Market Dynamics
Drivers
- Growth in adoption of IoT and increase in number of connected devices
- Increase in instances of cyber threats
Restraints
- Inability of AI to stop zero-day and advanced threats
- Rise in insider cyber threats
Opportunities
- Growth in need for cloud-based security solutions among SMEs
- Increase in use of social media for business functions
List of Top Companies
- 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)
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Software segment to account for the largest market size during the forecast period.
Based on the offering segment, software is anticipated to hold the largest market size during the forecast period. Computer systems rely on integrated software to execute intricate operations, synthesizing data from hardware and processing it through AI systems for intelligent responses. The rise of AI in the cybersecurity software market is driven by a surge in security breaches targeting business applications, where hackers aim to access sensitive data. Stricter data privacy policies and regulations contribute to the increasing demand for AI-based cybersecurity solutions, addressing challenges posed by evolving cyber threats. The adoption of cybersecurity solutions is further propelled by the widespread use of connected devices, the BYOD trend in organizations, and the global increase in internet usage, all aimed at mitigating potential risks.
Managed service to account for higher CAGR during the forecast period.
Based on the services, managed services are anticipated to hold the highest CAGR during the forecast period. Managed services are significantly shaping AI in cybersecurity, fostering a proactive defense landscape. AI algorithms in these services enhance real-time threat detection, automating incident responses for swift mitigation. Resource allocation is optimized through AI automation, allowing cybersecurity teams to focus on strategic initiatives. Continuous monitoring and adaptive security measures provide comprehensive coverage against evolving cyber threats. AI-powered risk management analyzes vast datasets, fortifying organizations against potential vulnerabilities. Scalability, flexibility, and predictive analytics empower organizations to anticipate and respond effectively to cyber threats. The strategic insights from AI facilitate informed decision-making, contributing to cost-effective and efficient cybersecurity operations.
Asia Pacific to exhibit the highest CAGR during the forecast period.
The CAGR of Asia Pacific is estimated to be highest during the forecast period. The AI in cybersecurity market in the Asia Pacific is poised for growth, driven by factors such as population rise and government policies. Emerging methodologies such as Machine Learning, IoT, Big Data analytics, and AI are being deployed as organizations shift to the cloud for enhanced production speed. The region faces evolving and sophisticated cyber threats, including ransomware, ad fraud malware, and DDoS attacks. Vulnerable countries such as India, Australia, Japan, China, and South Korea are focusing on robust defense infrastructure amidst increasing cyber warfare.
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