Artificial Intelligence in Cybersecurity Market worth $60.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 21, 2023 /PRNewswire/ -- In the cybersecurity space, AI's future lies in behavioural analytics, sophisticated threat detection, and further automation of processes like incident response. AI is anticipated to be crucial in improving cloud and endpoint security, resolving the skills gap, and adjusting to changing hostile strategies.

The global 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, according to a new report by MarketsandMarkets™. 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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300 - Tables
60 - Figures
400 – Pages

Scope of the Report

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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.

Top Companies in Artificial Intelligence in Cybersecurity Market

Major companies in the global AI in Cybersecurity Market 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), Trellix (US), CrowdStrike (US), NortonLifeLock (US), Cylance Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US), Acalvio Technologies (US), Darktrace (UK), SparkCognition Inc. (US), Fortinet (US), Check Point Software Technologies, Ltd (US), High-Tech Bridge (Switzerland), Deep Instinct (US), SentinelOne (US), Feedzai (US), Vectra (US) Zimperium (US), Argus Cyber Security (Israel), Nozomi Networks (US), BitSight Technologies (US), and Antivirus companies such as Kaspersky Lab (Russia), Bitdefender (Romania), and ESET (US).

Recent Developments

• NVIDIA and Oracle partnered to enable customers to solve business challenges with accelerated computing and AI. The collaboration aimed to bring the full NVIDIA accelerated computing stack—from GPUs to systems to software—to Oracle Cloud Infrastructure (OCI).
• This partnership would enable organizations, including operators of vital importance (OIV) and operators of essential services (OES), to go further in adopting cloud technology.
• Samsung Electronics Co., Ltd launched LPDDR5X DRAM with a processing speed of 8.5 gigabits per second (Gbps). It delivers low power consumption and high performance by fast processing the data, which is utilized in smartphones, PCs, high-performance computing (HPC), servers, and automobiles. LPDDR5X memory is AEC-Q100* certified, making it the ideal memory solution for high-stress automotive environments.
• NVIDIA IGX is a platform for high-precision edge AI, bringing advanced security and proactive safety to sensitive industries such as manufacturing, logistics, and healthcare.
• Check Point Software Technologies Ltd, collaborated with Intel. Check Point Quantum IoT Protect would be available in Intel Pathfinder for RISC-V*, enabling IoT device developers to integrate cybersecurity easily without impacting product performance.

Artificial Intelligence in Cybersecurity Market Advantages:

• AI analyses patterns and anomalies in massive datasets to enable the detection of sophisticated cyber threats.
• By detecting departures from typical user and system behaviour, artificial intelligence (AI) for behavioural analysis improves proactive threat identification.
• Routine cybersecurity chores are automated by AI, which streamlines procedures like incident response and frees up human experts to concentrate on strategic elements.
• AI improves security for both cloud and individual device contexts, offering strong defence against constantly changing threats.
• AI-powered analytics enables efficient analysis of large datasets, aiding security experts in gaining insights and identifying trends.

Report Objectives:

• To describe and forecast the artificial intelligence in cybersecurity market, in terms of value, by offering, security type, technology, application, and vertical
• To describe and forecast the artificial intelligence in cybersecurity market, in terms of value, by region—North America, Europe, Asia Pacific, Middle East & Africa and Latin America
• To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall artificial intelligence in cybersecurity market
• To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with detailing the competitive landscape for market leaders
• To analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the artificial intelligence in cybersecurity market
• To provide the illustrative segmentation, analysis, and projection of the main regional markets

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