Scope and overview of artificial intelligence (AI) in the cybersecurity market
According to a SNS Insider report, Artificial Intelligence (AI) in the Cybersecurity Market The size was valued at USD 21.89 billion in 2023 and is expected to reach USD 111.27 billion by 2031, growing at a CAGR of 22.4% over the forecast period 2024-2031.
The rise of artificial intelligence (AI) technologies such as natural language processing (NLP) and machine learning (ML) has focused attention on threat protection, detection, and response. Additionally, cyberattacks against high-tech companies, defense agencies, and government agencies are rapidly increasing, highlighting the need for advanced AI in cybersecurity. Cyber AI is sought after to provide proactive protection mechanisms with detection accuracy.
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Major key players in the market:
- NVIDIA Corporation
- Intel Corporation
- xilinx
- samsung electronics
- micron technology
- IBM Co., Ltd.
- Amazon Web Services
- dark trace
- Cylance
- Vectra AI
- others
market analysis
Lacking robust security measures, small and medium-sized businesses are prime targets for cyber attackers who target their data, networks, endpoints, and applications. Traditional security systems have proven inadequate against threats such as ransomware and malware, and cloud-based cyber There is a need to move towards security solutions. Cloud deployments offer flexibility, scalability, and cost efficiency to small and medium-sized businesses to optimize business operations. The move to cloud solutions creates growth opportunities for providers of cloud-based data protection solutions. The introduction of cloud-based security solutions delivered through Software-as-a-Service (SaaS) is responding to the growing demand for IT security, especially as concerns about the safety of cloud data increase, and is gaining ground in the cybersecurity market. Pushing AI even further.
Market segmentation and sub-segmentation include:
based on component
- software
- service
- hardware
based on deployment
Based on security type
- network security
- endpoint security
- Application security
- cloud security
Based on technology
- Context-aware computing
- machine learning
- natural language processing
Based on application
- Identity and access management
- Risk and compliance management
- Data loss prevention
- Unified threat management
- Security and vulnerability management
- Antivirus
- Fraud detection
- Intrusion detection and prevention system
- threat intelligence
- others
Based on industry vertical basis
- cars and transportation
- retail
- BFSI
- manufacturing industry
- government and defense
- company
- oil gas
- education
- others
Growth drivers of AI in the cybersecurity market
- Transition to active defense: Traditional cybersecurity approaches often rely on reactive measures that respond to cyber threats after they occur. However, with AI-powered cybersecurity solutions, organizations can adopt a proactive defense posture by predicting and mitigating threats before they cause harm. This proactive approach is essential to countering the dynamic and rapidly evolving nature of cyber threats.
- Increased regulatory compliance requirements: Strict regulatory frameworks such as GDPR, HIPAA, and PCI DSS place stringent requirements on organizations to protect sensitive data and protect against cyber threats. Violations can result in significant financial penalties and reputational damage. As a result, organizations are investing in AI-driven cybersecurity solutions to ensure compliance with regulatory standards and strengthen data protection measures.
- The emergence of IoT and connected devices: The proliferation of Internet of Things (IoT) devices and connected systems is expanding the attack surface area for cybercriminals and creating new security challenges for organizations. AI-based cybersecurity solutions protect IoT devices and networks, detect and mitigate potential threats in real-time, and ensure the integrity and confidentiality of sensitive data transmitted between interconnected devices. essential for.
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Impact of the Russia-Ukraine war
The war between Russia and Ukraine has sent ripples throughout the cybersecurity field, reshaping the strategies of both nation-states and private companies. Cyber operations are now considered tools of coercion and deception in modern warfare rather than independent weapons. Russia's historical cyber operations have been tilted toward long-term competition, combining political warfare, espionage, and destructive campaigns to influence political outcomes. Cybersecurity companies employ a variety of strategies tailored to their areas of expertise. Our Security Operations Center (SOC) teams are on high alert, gathering actionable intelligence on Russian activity and rapidly responding to heightened alerts. The focus is on strengthening defensive measures to stop potential breaches before they occur.
Impact of economic slowdown
During economic downturns, the AI in cybersecurity market may face challenges, but generally maintains growth. This is driven by the increasing complexity of cyber threats and the growing need for advanced security solutions. Factors such as increased use of mobile devices, remote work arrangements, and heightened awareness of cybersecurity are contributing to its resilience. Despite economic uncertainty, AI in cybersecurity continues to expand, albeit perhaps at a slower pace.
major regional developments
North America dominated the market with a revenue share of over 32% due to the rise in connected devices, IoT, 5G, and Wi-Fi 6 technologies. Industries such as automotive, healthcare, government, energy, and mining are aggressively expanding their 5G networks, which also creates potential vulnerabilities to cyber attacks.
North America is leading the way in the adoption of NLP, ML, and neural networks to strengthen security measures and identify anomalous user behaviors and patterns. Over the forecast period, the global market for artificial intelligence in cybersecurity is expected to witness rapid growth in the Asia-Pacific region. Emerging economies in the region are primarily focused on integrating new technologies.
Important points
- Escalating cyber threats are driving the exponential growth of artificial intelligence (AI) in the cybersecurity market.
- Machine learning technology is dominating the market and provides enhanced threat detection and response mechanisms.
- The North American region leads in market share due to technological advances and increased adoption of AI-powered cybersecurity solutions.
Recent trends
August 2022: Reports have surfaced that Thomas Bravo is considering acquiring Darktrace. Microsoft announced the official launch of Microsoft Defender Experts for Hunting, a proactive threat hunting tool, in August 2022.
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Table of contents – main points
- introduction
- research method
- Market trend
- driver
- restraints
- opportunity
- assignment
- Impact analysis
- Analysis of the impact of the new coronavirus infection
- Impact of the Ukraine-Russia war
- Impact of the ongoing recession on major countries
- value chain analysis
- porter's 5 force model
- PEST analysis
- Artificial Intelligence (AI) in Cybersecurity Market, by Component
- introduction
- trend analysis
- software
- service
- hardware
- By Deployment of Artificial Intelligence (AI) in Cybersecurity Market
- introduction
- trend analysis
- on-premises
- cloud
- Artificial Intelligence (AI) in Cyber Security Market by Security Type
- introduction
- trend analysis
- network security
- endpoint security
- Application security
- cloud security
- Artificial Intelligence (AI) in Cybersecurity Market by Technology
- introduction
- trend analysis
- Context-aware computing
- machine learning
- natural language processing
- Artificial Intelligence (AI) in Cybersecurity Market by Application
- introduction
- trend analysis
- Identity and access management
- Risk and compliance management
- Data loss prevention
- Unified threat management
- Security and vulnerability management
- Antivirus
- Fraud detection
- Intrusion detection and prevention system
- threat intelligence
- others
- Artificial Intelligence (AI) in Cybersecurity Market, by Industry
- introduction
- trend analysis
- cars and transportation
- retail
- BFSI
- manufacturing industry
- government and defense
- company
- oil gas
- education
- others
- regional analysis
- introduction
- North America
- Europe
- Asia Pacific
- middle east and africa
- latin america
- Company Profile
- competitive environment
- competitive benchmark
- market share analysis
- Recent trends
- Use cases and best practices
- conclusion
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