New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AI In Cybersecurity Global Market Report 2023" - https://www.reportlinker.com/p06480037/?utm_source=GNW
, Amazon Web Services Inc., Microsoft Corporation, Palo Alto Networks Inc., CrowdStrike Holdings Inc., NortonLifeLock Inc., Cylance Inc., FireEye Inc., Check Point Software Technologies Ltd., Darktrace, and McAfee LLC.
The global AI in cybersecurity market is expected to grow from $15.93 billion in 2022 to $20.00 billion in 2023 at a compound annual growth rate (CAGR) of 25.51%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $49.23 billion in 2027 at a CAGR of 25.26%.
The AI in cybersecurity market consists of revenues earned by entities by AI-based security, AI-based training, and education, AI-based user behavior modeling, and automation of manual security processes.The market value includes the value of related goods sold by the service provider or included within the service offering.
The AI in cybersecurity market also includes sales of computers, computer peripherals, and telecommunications such as integrated circuits, smartphones, laptops, and CPUs, and field programmable gate arrays.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Artificial Intelligence (AI) in cybersecurity refers to the application of AI technologies and techniques to enhance and strengthen cybersecurity measures. It is the process of analyzing large amounts of risk data as well as the link between hazards in a company’s information systems to detect, prevent, and respond to threats and attacks more efficiently and effectively.
North America was the largest region in the AI in cybersecurity market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the AI In cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of offerings provided in AI in cybersecurity are hardware, software, and services.Hardware refers to physical devices such as servers, routers, firewalls, and other network components that are used to secure and manage the flow of data within an organization’s network infrastructure and it uses AI-based cybersecurity for endpoint devices such as laptops, desktops, and mobile phones that require protection against cyber threats.
Major technologies used are machine learning, natural language processing (NLP), and context-aware computing to offer various security types such as network security, endpoint security, application security, and cloud security. It is used for identity and access management, risk and compliance management, data loss prevention, unified threat management, security and vulnerability management, antivirus or antimalware, fraud detection or anti-fraud, intrusion detection or prevention system, threat intelligence, and others by various end users industries such as banking, financial services, and insurance (BFSI), retail, manufacturing, infrastructure, enterprise, healthcare, automotive and transportation, government and defense, and others.
The rise in the number of cybercrimes is expected to propel the growth of AI in cybersecurity market going forward.Cybercrime is any illegal activity that involves the use of computers, networks, or other digital devices that are carried out by individuals or groups with malicious intent, such as stealing sensitive information, disrupting computer systems, or committing fraud.
Artificial intelligence is used to address the growing threat of cybercrime by providing advanced security solutions that can quickly detect, analyze, and respond to cyber threats in real time and reduces false positives by filtering out non-threatening activities. For instance, in 2022, according to the Federal Bureau of Investigation, a US-based law enforcement agency, the total amount of investment fraud complaints surged to $3.31 billion, marking a significant rise of 127% from the $1.45 billion reported in 2021. Notably, within these complaints, cryptocurrency investment fraud saw the most dramatic increase, soaring from $907 million in 2021 to $2.57 billion in 2022, which represents a staggering 183% rise. Therefore, the rise in the number of cybercrimes is driving the growth of the AI in cybersecurity market.
Product innovation is a key trend gaining popularity in the AI In cybersecurity market.Companies operating in the AI In cybersecurity market are developing innovative solutions to sustain their position in the market.
For instance, in September 2020, Microsoft, a US-based multinational technology corporation, unveiled unified SIEM and XDR to modernize security operations.Microsoft XDR (Extended Detection and Response) works by integrating data from multiple sources, including endpoint devices, cloud services, and email accounts, into a centralized platform.
Machine learning techniques are then used to examine the data in order to identify possible dangers and offer information on security occurrences.In order to identify security issues and take appropriate action, Microsoft XDR heavily relies on AI and machine learning algorithms.
It uses AI to automatically detect anomalous behavior, such as unusual user activity or network traffic, which could indicate a security breach. Overall, the use of AI in Microsoft XDR improves speed and accuracy of threat detection and response, while also reducing the workload on security teams by automating many routine tasks.
In March 2021, Palo Alto Networks, a US-based cybersecurity company acquired Bridgecrew for approximately $156 million.This acquisition enabled Palo Alto Networks to further integrate security into the development process and provide customers with more complete security capabilities across the full application lifecycle and a security platform that provides visibility, automation, and governance across multi-cloud environments, with a focus on delivering a DevSecOps experience.
Bridgecrew is a US-based computer and network security company that provides a platform for automating infrastructure security.
The countries covered in the AI In cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The AI in cybersecurity market research report is one of a series of new reports that provides AI in cybersecurity market statistics, including AI in cybersecurity industry global market size, regional shares, competitors with a AI in cybersecurity market share, detailed AI in cybersecurity market segments, market trends and opportunities, and any further data you may need to thrive in the AI in cybersecurity industry. This AI in cybersecurity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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