Pune, September 27, 2024 (Globe Newswire) — Artificial Intelligence (AI) in Cybersecurity Market Size Analysis:
“According to SNS Insider, the market size of artificial intelligence (AI) in cybersecurity was valued at USD 22.1 billion in 2023 and is projected to reach USD 120.8 billion by 2032, with forecasts from 2024 to 2032 growing at a CAGR of 20.8% over the period.”
Increasing sophistication of cyber threats driving AI adoption
Cyberattacks are becoming increasingly sophisticated, with threats such as ransomware, phishing, and advanced persistent threats (APTs) proliferating over the past decade. Governments and businesses around the world are increasingly turning to AI-driven cybersecurity solutions to enhance threat detection and response times. For example, the European Union has invested more than €1 billion in AI-based security initiatives to improve national cyber resilience by 2023. Similarly, the U.S. Department of Defense has allocated $500 million to AI cybersecurity technology to protect critical infrastructure and military data from potential breaches.
AI’s ability to detect patterns and anomalies in large data sets can help organizations predict and prevent cyberattacks in real-time. AI models with machine learning and deep learning algorithms provide predictive analytics to reduce risk and strengthen your overall security infrastructure. The Indian government’s Cybersecurity Roadmap 2024 aims to use AI-powered systems to protect critical data assets, highlighting the growing reliance on artificial intelligence in this sector.
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The analysis of the major companies mentioned in this report is as follows:
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), etc.
Artificial Intelligence (AI) in Cybersecurity Market Report Scope:
Report Attribute Details Market Size in 2023 USD 22.1 billion Market Size in 2032 USD 120.8 Billion 20.8% CAGRCAGR 2024-2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regions Range North America (United States, Canada, Mexico), Europe (Eastern Europe (Poland, Rome) IA, Hungary, Turkey, Rest of Eastern Europe) Western Europe (Germany, France, United Kingdom, Italy, Spain, Netherlands, Switzerland, Austria) , the 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, Africa Key drivers of growth (Brazil, Argentina, Colombia, Rest of Latin America), Latin America (Brazil, Argentina, Colombia, Rest of Latin America) • Increasing complexity and frequency of cyber-attacks, requiring advanced AI solutions to strengthen security measures is increasing
Globally, increased government investment and regulation is driving 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 AI in the cybersecurity market, accounting for 48% of the revenue share. The ability of ML algorithms to learn and evolve without human intervention positions them as a cornerstone of modern cybersecurity strategies. The biggest advantage of this approach is its autonomy. This means that through self-learning capabilities, ML tools can identify vulnerabilities and counter cyber threats before they cause widespread damage. The U.S. Cybersecurity and Infrastructure Security Agency reported that more than 70% of federal agencies are already realizing the benefits of ML-driven cybersecurity platforms. These solutions give organizations a more proactive approach to risk detection and prevention. More importantly, automation of cyber risk monitoring has enabled organizations to reduce the cost of cybersecurity risk management. Given the proliferation of ransomware and new types of malware, more industries will likely develop and adopt AI and ML technologies as more resilient and affordable solutions.
By end use: BFSI sector dominates, healthcare sector emerges
The banking, financial services, and insurance sector captured the largest market share in 2023, accounting for 35% of AI in cybersecurity deployments. The BFSI sector deals with financial data and is therefore often targeted by cybercriminals. Therefore, these organizations need to implement advanced AI in cybersecurity. The UK’s Financial Conduct Authority has directed financial institutions to adopt AI-enhanced security to protect their cloud infrastructure.
The healthcare sector is projected to grow at the fastest CAGR during the forecast period. The increasing amount of digital health data is driving the adoption of AI in the cybersecurity field. The healthcare sector is also moving from manual health records to electronic records. Therefore, healthcare organizations are using AI-powered solutions to prevent breaches and protect patient data. These organizations are also using AI to conduct HIPAA audits and comply with the Health Insurance Portability and Accountability Act, 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 use
Identity and Access ManagementRisk and Compliance ManagementData Loss PreventionUnified Threat ManagementFraud Detection/Fraud PreventionThreat IntelligenceMiscellaneous
by offering
vertical direction
BFSI Retail Government and Defense Manufacturing Healthcare Automotive and Transportation Others
Regional advantage: North America leads the market
North America dominated the global AI cybersecurity market, holding 38% of the market share. The region’s dominance is primarily due to its well-established IT infrastructure, increasing cyber-attacks, and heavy government investments in acquiring AI-based security solutions. As part of its National Cybersecurity Strategy, the U.S. Department of Homeland Security is focusing on AI to strengthen defense mechanisms against cyber threats posed by foreign governments. Canada’s Cybersecurity Task Force also encouraged the use of AI solutions to protect critical infrastructure from politically motivated and criminal cyber threats.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to significant investments from China, India, and Japan. The Indian government’s Digital India initiative and China’s efforts to develop an AI-driven security framework highlight the region’s rapid technological progress.
recent news
August 2023: IBM announces an AI-powered security information and event management (SIEM) solution that helps organizations detect and respond to cyber threats faster and more efficiently. July 2023: Palo Alto Networks announces Cortex XSIAM, an AI-powered platform for autonomous systems. Security operations improve response times and enhance detection of cyber threats.
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Important points:
The role of AI in cybersecurity is growing as organizations combat increasingly sophisticated cyber threats. Machine learning (ML) is dominating AI in the cybersecurity market and will capture 48% market share in 2023. BFSI sectors are leading in AI adoption, with healthcare the fastest growing North America is the largest regional market driven by strong infrastructure and government investment in AI-enhanced security solutions .
Table of contents – main points
1. Introduction
2. Executive summary
3. Research method
4. Analysis of the impact of market dynamics
5. Statistical insights and trend reports
6. Competitive environment
7. Artificial Intelligence (AI) in Cybersecurity Market Segmentation, by Type
8. Artificial Intelligence (AI) Market Segmentation in Cybersecurity, by Technology
9. Artificial Intelligence (AI) in Cybersecurity Market Segmentation, by Application
10. Artificial Intelligence (AI) in Cybersecurity Market Segmentation by Offerings
11. Artificial Intelligence (AI) in Cybersecurity Market Segmentation, by Vertical
12. Regional analysis
13. Company profile
14. Use cases and best practices
15. Conclusion
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