Pune, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Artificial Intelligence (AI) in Cybersecurity Market Size Analysis:
“According to SNS Insider, the Artificial Intelligence (AI) in Cybersecurity Market Size was valued at USD 22.1 Billion in 2023 and is projected to reach USD 120.8 Billion by 2032, growing at a CAGR of 20.8% over the forecast period 2024-2032.”
Increasing Sophistication of Cyber Threats Driving AI Adoption
Cyberattacks have become increasingly sophisticated, with threats such as ransomware, phishing, and advanced persistent threats (APTs) rising sharply over the past decade. Governments and enterprises worldwide are increasingly turning to AI-driven cybersecurity solutions to enhance threat detection and response times. For example, by 2023, the European Union invested over €1 billion in AI-based security initiatives to improve national cyber resilience. Similarly, the U.S. Department of Defence allocated $500 million to AI cybersecurity technologies to safeguard critical infrastructure and military data from potential breaches.
AI's ability to detect patterns and anomalies in large datasets helps organizations anticipate and prevent cyberattacks in real time. AI models equipped with machine learning and deep learning algorithms offer predictive analytics to mitigate risks, enhancing overall security infrastructure. The Indian government’s 2024 cybersecurity roadmap, aimed at using AI-powered systems to defend critical data assets, highlights the growing reliance on artificial intelligence in this domain.
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Major Players Analysis Listed in this Report are:
- IBM (IBM Watson for Cyber Security, IBM QRadar)
- Cisco (Cisco SecureX, Cisco Umbrella)
- Palo Alto Networks (Cortex XSOAR, Prisma Cloud)
- CrowdStrike (Falcon Platform, Falcon OverWatch)
- McAfee (McAfee MVISION, McAfee Total Protection)
- FireEye (Helix, FireEye Endpoint Security)
- Darktrace (Enterprise Immune System, Cyber AI Analyst)
- Splunk (Splunk Cloud, Splunk Phantom)
- Fortinet (FortiAI, FortiGate)
- Check Point (Check Point Quantum Security, Check Point CloudGuard)
- SonicWall (SonicWall Capture, SonicWall Secure Mobile Access)
- Trend Micro (Trend Micro Deep Security, Trend Micro Vision One)
- Rapid7 (InsightIDR, InsightVM)
- SentinelOne (Singularity XDR, SentinelOne Ranger)
- Microsoft (Microsoft Defender for Identity, Azure Sentinel)
- Zscaler (Zscaler Internet Access, Zscaler Private Access)
- Cylance (CylancePROTECT, CylanceOPTICS)
- Elastic (Elastic Security, Elastic SIEM)
- Acalvio Technologies (Shadow Conductor, Acalvio Active Defense)
- Morphisec (Morphisec Endpoint Security, Morphisec Threat Prevention) and others
Artificial Intelligence (AI) in Cybersecurity Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 22.1 Billion |
| Market Size by 2032 | USD 120.8 Billion |
| CAGR | CAGR of 20.8 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | •The increasing complexity and frequency of cyber-attacks are driving the need for advanced AI solutions to enhance security measures •Rising investments and regulations from governments globally are pushing for the adoption of AI in cybersecurity to protect critical infrastructure |
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Segment analysis
By Technology: Machine Learning (ML) Leads the Market
In 2023, Machine Learning technology held the largest share of the AI in cybersecurity market and accounted for 48% revenue share. The ability of ML algorithms to learn and evolve without human intervention has positioned it as a cornerstone of modern cybersecurity strategies. The biggest advantage of the approach lies in its autonomy: through self-learning capacities, ML tools can identify vulnerabilities and counteract cyber threats before they cause widespread damage. The U.S. Cybersecurity and Infrastructure Security Agency reported that over 70% of federal agencies are already realizing the benefits of ML-driven cybersecurity platforms. These solutions have provided organizations with a more proactive approach to risk detection and prevention. More importantly, the automation of cyber risk monitoring has allowed organizations to cut the costs of cybersecurity risk management. Given the surge of ransomware and new malware types, more industries will be inclined to develop and adopt AI and ML technologies as a more resilient and affordable solution.
By End Use: BFSI Sector Dominates, Healthcare Sector on the Rise
The Banking, Financial Services, and Insurance sector was the largest market share in 2023, comprising 35% of the AI in cybersecurity adoption. The BFSI sector is frequently targeted by cybercriminals because they deal with financial data. Hence, these organizations have to implement advanced AI in cybersecurity. The UK’s Financial Conduct Authority has instructed financial institutions to adopt AI-enhanced security to protect cloud infrastructure.
The healthcare sector is projected to grow at the fastest CAGR during the forecast period. AI in cybersecurity is increasingly being adopted in the sector because there is a growing volume of digital health data. The healthcare sector has also shifted from manual health records to electronic records. Accordingly, healthcare organizations are using AI-powered solutions to prevent breaches and protect patients’ data. The organizations are also using AI in the conduct of HIPAA audits and in compliance with the Health Insurance Portability and Accountability Act, the General Data Protection Regulation, and other data protection measures.
Artificial Intelligence (AI) in Cybersecurity Market Segmentation:
By Type
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
By Technology
- Machine Learning (ML)
- Natural Language Processing (NLP)
- Context-aware Computing
By Application
- Identity And Access Management
- Risk And Compliance Management
- Data Loss Prevention
- Unified Threat Management
- Fraud Detection/Anti-Fraud
- Threat Intelligence
- Others
By Offering
- Hardware
- Software
- Services
By Vertical
- BFSI
- Retail
- Government & Defense
- Manufacturing
- Enterprise
- Healthcare
- Automotive & Transportation
- Others
Regional Dominance: North America Leads the Market
North America dominated the global AI in cybersecurity market, and held 38% of the market share. The region’s dominance is primarily due to its well-established IT infrastructure, the increasing number of cyberattacks, and the heavy investments made by governments in acquiring AI-based security solutions. As part of its national cybersecurity strategy, the U.S. Department of Homeland Security has focused its efforts toward AI to strengthen its defence mechanisms against cyber threats imposed by foreign governments. Canada’s cybersecurity task force also encouraged the use of AI solutions with a view to protect its critical infrastructure from politically motivated and criminal cyber threats.
The Asia-Pacific region, will growing with the fastest CAGR over the forecast period, viewing substantial investments from China, India, and Japan. The Indian government’s Digital India initiative and China’s commitment to developing AI-driven security frameworks underscore the region’s rapid technological advancements.
Recent News
- August 2023: IBM launched its AI-powered Security Information and Event Management (SIEM) solution to help organizations detect and respond to cyber threats more quickly and efficiently.
- July 2023: Palo Alto Networks introduced its Cortex XSIAM, an AI-driven platform for autonomous security operations, which reduces response times and enhances cyber threat detection.
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Key Takeaways:
- AI's role in cybersecurity is growing as organizations combat increasingly sophisticated cyber threats.
- Machine Learning (ML) dominates the AI in cybersecurity market, with a 48% market share in 2023.
- The BFSI sector leads in AI adoption, while healthcare is the fastest-growing industry.
- North America is the largest regional market, driven by strong infrastructure and government investments in AI-enhanced security solutions.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Artificial Intelligence (AI) in cybersecurity Market Segmentation, By Type
8. Artificial Intelligence (AI) in cybersecurity Market Segmentation, By Technology
9. Artificial Intelligence (AI) in cybersecurity Market Segmentation, By Application
10. Artificial Intelligence (AI) in cybersecurity Market Segmentation, By Offering
11. Artificial Intelligence (AI) in cybersecurity Market Segmentation, By Vertical
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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