Automotive industry witnesses highest CAGR, increasing demand for adaptive security services

Global Artificial Intelligence in Cybersecurity Market

Dublin, June 05, 2024 (GLOBE NEWSWIRE) — The “Global Artificial Intelligence in Cybersecurity Market: By Offering (Hardware, Solutions, Services), Security Type, Technology (ML, NLP, Context Aware, Computer Vision), Application (IAM, DLP, UTM), Vertical, and Region – Forecast to 2028” report has been added. ResearchAndMarkets.com Recruitment.

The global market for AI in cybersecurity is projected to grow from $22.4 billion in 2023 to $60.6 billion in 2028, at a compound annual growth rate of 21.9%.

This market study covers AI in Cybersecurity across various segments. It aims to forecast the market size and growth potential across various segments such as offering, security type, technology, application, vertical, and region. The study includes a detailed competitive analysis of the key players in the market, their profiles, key observations regarding their product and business offerings, recent developments, and key market strategies.

Increasing frequency and sophistication of cyber attacks are forcing businesses to seek advanced and innovative defense solutions, driving the growth of artificial intelligence in cybersecurity market. The growing use of IoT devices in various applications and the growing volume of data generated by these devices creates lucrative opportunities for the global AI in cybersecurity market. Increasing demand for adaptive security services across enterprises is expected to drive the market growth. Moreover, the emergence of security data visualization tools is expected to provide lucrative growth prospects during the forecast period.

North America leads the world in terms of security vendors and cyber incidents. With increasing interconnectivity and digitalization, protecting critical infrastructure and sensitive data has become increasingly challenging. The United States, an early adopter of cybersecurity solutions, is expected to account for a majority of the market revenue. Rising cyber attacks such as DDoS, ransomware, and spear phishing pose significant challenges to the economy and national security.

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Despite technological advancements such as cloud computing and IoT adoption, businesses face advanced threats. Vulnerabilities and compliance requirements in the region have made North America the most lucrative market for various cybersecurity vendors, with the US and Canada at the forefront.

The automotive industry is projected to maintain the highest CAGR during the forecast period.

AI in cybersecurity is being adopted in healthcare and life sciences to enable smart medical facilities with digital diagnostics and remote patient monitoring. The automotive industry is adopting AI for cybersecurity due to increasing vehicle complexity, the rise in vulnerable self-driving cars, and vast global supply chains that are vulnerable to attacks.

AI excels in real-time threat detection, data protection, and automating manual tasks, resulting in a more efficient and adaptive defense against cyber attacks. However, due to challenges such as data bias and opaque AI models, implementation and integration with existing systems require careful work. Moreover, AI is expected to play a key role in ensuring the future of connected and autonomous cars.

Among applications, identity and access management will hold the largest market share during the forecast period

The rapid growth of AI identity and access management (IAM) in the cybersecurity market is driven by several key factors: Increasing complexity of cyber threats requires advanced security measures, and IAM plays a key role in strengthening defenses. Integration of artificial intelligence enhances IAM capabilities, enabling real-time threat analysis and adaptive access control.

Additionally, regulatory compliance mandates are driving the adoption of IAM solutions to ensure organizations meet strict security standards. Moreover, the surge in remote work has increased the need for robust IAM to secure access across different environments. Hence, IAM in AI cybersecurity is underpinned by the need to combat evolving cyber threats, comply with regulations, and secure remote access.

Among technologies, machine learning is expected to hold the largest market share during the forecast period.

The adoption of Machine Learning (ML) in AI in the cybersecurity market is on a steady upward trend. ML's ability to analyze huge data sets allows for proactive detection and response to threats. Its application in anomaly detection and pattern recognition enhances cybersecurity measures and identifies potential risks in real-time. ML-driven solutions adapt and evolve to stay ahead of advanced cyber threats.

The dynamic nature of cyber attacks requires a continuous learning approach aligned with the strengths of ML. Organizations are increasingly integrating ML into their cybersecurity strategies to strengthen defense mechanisms, reduce risks, and ensure resilient protection against the evolving cyber threat landscape. The growing adoption highlights the pivotal role of ML in enhancing AI-driven cybersecurity initiatives.

This report provides insights into:

• Analysis of key drivers (growing adoption of IoT and increasing number of connected devices, growing concerns over data protection, increasing vulnerability of Wi-Fi networks to security threats), constraints (increasing internal cyber threats), opportunities (growing need for cloud-based security solutions among SMEs, increasing use of social media in business functions), and challenges (limited number of cybersecurity and AI experts, lack of interoperability with existing information systems)

• Product Development/Innovation: Detailed insights into upcoming technologies, research and development activities, new product and service launches of AI in Cybersecurity market.

• Market Development: Comprehensive information on the lucrative market – This report analyzes the AI ​​in cybersecurity market across various regions.

• Market Diversification: Comprehensive information on new products and services, untapped regions, recent developments, and investments in AI in Cyber ​​Security market strategies. The report also helps stakeholders understand the trends in the AI ​​in Cyber ​​Security market and provides information on key market drivers, restraints, challenges, and opportunities.

Key attributes:

Featured companies

• NVIDIA

• Intel

• Amdo

• Samsung Electronics Co., Ltd.

• Micron Technology

• IBM

• Amazon

• Microsoft

• Palo Alto Networks

• Crowdstrike

• Gen Digital

• Trellix

• Cylance

• LexisNexis Risk Solutions

• Securonics

• The Science of Sifting

• Akarubio Technologies

• Darktrace

• Spark Recognition

• Fortinet

• Check Point Software Technologies

• High Tech Bridge

• Deep instincts

• Sentinel Ron

• Feedzai

• Vectra

• Zimperium

• Argus Cyber ​​Security

• Nozomi Network

• BitSight Technologies

• Kaspersky Lab

• Bitdefender

• Eset

For more information on this report, please visit: https://www.researchandmarkets.com/r/p4rq2t

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