AI in Cyber Security Market

AI in Cyber Security Market Size

Artificial intelligence may simply be described as the implementation of AI technology to simplify complex cybersecurity processes to make the system more secure, stable, and autonomous in cybersecurity. In recent years, artificial intelligence (AI) has been progressing by leaps and bounds. From applications in a multitude of features and innovations to the healthcare and pharmaceutical sectors as well. AI has already made its debut in the area of drug discovery & development and is sure to be embraced in the future by many more markets, sectors, markets, and applications. AI has the ability to process natural language and other features and their functionalities, from computer vision to speech recognition. AI has been a key instrument in reducing the cost of multiple processes, growth, production, automation, monitoring, adaptation, and a wide range of others. It is quickly seen as a blessing to our progressive future rather than a bane or a threat.

 Market Highlights

Global AI in the Cyber Security Market is expected to project a notable CAGR of 23.5% in 2030.

Global AI in Cyber Security Market to surpass USD 28.09 billion by 2030 from USD 5.03 billion in 2018 at a CAGR of 23.5 % throughout the forecast period, i.e., 2019-30. Some of the key factors driving the growth of artificial intelligence in the cybersecurity market are growing demand for innovative cybersecurity solutions & privacy, increasing the frequency & sophistication of cyber-attacks, the advent of disruptive emerging technology across the industry verticals, and continuous technological developments in security solutions. In addition, growing government spending in the security sector, the growing need for small and medium-sized businesses for cloud-based security solutions, and the increasing adoption of 5 G technology are also leading to the growth of artificial intelligence in the cybersecurity market.

Global AI in Cyber Security Market: Segments

Software Segment to grow with the highest CAGR during 2019-30

Global AI in the Cyber Security Market is segmented by offering Hardware, software, and service. The hardware segment dominated the market in 2018, and it is further projected to continue its domination during the forecast period. Whereas, the software segment is expected to see the fastest growth in AI in the cybersecurity market on the basis of availability. In addition to machine learning (ML) algorithms, in order to understand cybersecurity applications, different types of software are needed in AI systems, which include application program interfaces (APIs), such as language, voice, sensor data, and vision. In order to implement cybersecurity applications, AI systems require various types of software, including application program interfaces, such as language, voice, vision, and sensor data, along with machine learning algorithms.

Machine learning Segment to grow with the highest CAGR during 2019-30

Global AI in Cyber Security Market is segmented by Technology into Machine Learning, Natural Language Processing, and Context-Aware Computing. Based on Technology, the ML category held the largest share in the AI in the cybersecurity market in 2018. ML occupies major market share is largely due to its ability to better handle threat learning algorithms to protect companies by using voluminous data. In order to avoid similar attacks and respond to evolving actions, cybersecurity systems will analyze patterns and learn from them with ML. Machine learning technology provides rapid data collection, prediction, and processing from limitless sources and also helps to analyze and interpret user actions, making it the most commonly used AI technology in the cybersecurity market.

Cloud security services Segment to grow with the highest CAGR during 2019-30

Global AI in Cyber Security Market is segmented by security type into Identity and access security services, network security services, cloud security services, data security services, and others. Based on security type, the network security category held the largest share in the AI in the cybersecurity market in 2018. The growth of the segment of network protection is mainly driven by the increase in the adoption and susceptibility of wireless networks, as facilities today increasingly rely on wireless networks for data transfer. Having a better framework for network protection reduces the risk of cyber-attacks and sabotage of data. During the forecast period, AI for cloud cybersecurity services is forecast to see the fastest growth. The key factors responsible for the fastest growth of AI in the market for cybersecurity services are the growing number of or large companies using the data repository cloud platform and as servers, rendering it vulnerable to cyber-attacks.

Cloud-based Segment to grow with the highest CAGR during 2019-30

Based on deployment, the on-premises segment is expected to account for the largest share of the overall artificial intelligence in the cybersecurity market in 2018 due to increased concerns about improving internal processes & systems, security issues related to cloud deployment, and increased demand among industry verticals for advanced security application software. However, due to the growing number of large organizations utilizing cloud services for data repositories and increasing demand to minimize the capital expenditure needed to introduce cybersecurity solutions, cloud-based deployment is projected to expand at the fastest CAGR during the forecast era. In addition, many companies are transitioning activities to the cloud, which has led suppliers of cybersecurity to build cloud-based solutions.

Global AI in Cyber Security Market: Market Dynamics

Drivers

Increasing Number of Cyber Frauds and Malicious Attacks

With the rising incidence of cybercrimes, artificial intelligence in cybersecurity is playing a vital role in combating such miscreants. Cyber frauds, such as identity and payment card thefts, account for over 55% of all cybercrimes, and they cause major losses to organizations, if not countered quickly. AI-driven solutions combat cyber fraud by identifying threats, reducing response time, and refining techniques to distinguish attacks that require immediate attention. In industry verticals, such as healthcare organizations and BFSI, the proliferation of connected devices has created a security blind spot where cybercriminals or hackers can target devices such as webcams, smart TVs, routers, printers, and even smart home appliances.

Growing Adoption of IoT and Increasing Number of Connected Devices

Advances in AI, coupled with the increasing need for pervasive connectivity and real-time communication, cause the efficiency of IoT-powered devices to expand exponentially. In the coming years, the number of IoT-connected devices is anticipated to see healthy growth. Growing IoT adoption and the growing number of connected devices are thus boosting AI in the growth of the cybersecurity industry. Rapid technological advancements and developments, an increased threat from unauthorized access to networks, hacking, and fraud, etc., contribute to the adoption of more sophisticated and safer cybersecurity technologies & solutions by businesses on a global scale and by major governments.

Restrain

Lack of awareness and high cost of AI solutions

Key challenges faced by AI in the cybersecurity industry are limiting the security budget against cyber-attacks, especially in developing and underdeveloped countries, and the inefficiency of AI in resolving cyber threats in advance, which are key challenges facing AI in the cybersecurity industry. Moreover, the lack of qualified AI and cybersecurity experts for cyber threats has a negative impact on market growth.

Global AI in Cyber Security Market: Key Players

• Micron Technology, Inc

  • Company Overview

  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• Intel Corporation
• Xilinx Inc.
• IBM Corporation
• Amazon Web Services, Inc.
• Samsung Electronics Co., Ltd.
• NVIDIA Corporation
• Darktrace
• Cylance Inc
• Vectra AI, Inc.

Global AI in Cyber Security Market: Regions

Global AI in the Cyber Security Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global AI in Cyber Security Market in North America held the largest market share of XX.X% in the year 2018. As the number of cyber-attacks is increasingly growing in the region, superiority can be attributed to companies deploying cybersecurity solutions. The occurrence of cybercrimes, such as ransomware, is increasing at an exorbitant rate, causing large-scale business disruption and financial losses. Canada is also experiencing a dramatic rise in phishing messages and network violations, which clearly indicates a multitude of opportunities in the cybersecurity industry for artificial intelligence. The high rate of digitization due to a large number of companies providing digital solutions and the emergence of established players in their AI in the cybersecurity sector are other factors contributing to the growth of the region.

Competitive Landscape:

Global AI in Cyber Security Market which is highly competitive, consists of several major players such as NVIDIA Corporation (US), Intel Corporation (US) holds a substantial market share in the Global AI in Cyber Security Market. Other players analyzed in this report are Point Software Technologies Ltd, Juniper Networks, Inc., Amazon, Inc., Intel Corporation, RSA Security LLC, Palo Alto Networks, Inc., Fortinet, Inc., IBM Corporation, Inc., FireEye, Inc., BAE Systems Plc, Cisco Systems Inc., and Symantec Corporation among others

Recently, various developments have been taking place in the market. For instance, NVIDIA announced the Jetson Nano, an AI computer that makes it possible to create millions of intelligent systems. The small but powerful CUDA-X AI computer delivers 472 GFLOPS of computing performance for running modern AI workloads and is highly power-efficient, consuming as little as 5 watts.

Global AI in Cyber Security Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada

• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America

• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global AI in Cyber Security Market report also contains analysis on:

Global AI in Cyber Security Market Segments:

• By Offering:
  • Hardware
  • Software
  • Service
• By Deployment Type:
  • Cloud
  • On-Premise
• By Security Type:
  • Network Security
  • Endpoint Security
  • Application Security
  • Cloud Security
• By Technology:
  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
• By Application:
  • Identity & Access Management
  • Risk & Compliance Management
  • Data Loss Prevention
  • Unified Threat Management
  • Security & Vulnerability Management
  • Antivirus/Antimalware
  • Fraud Detection/Anti-Fraud
  • Intrusion Detection/Prevention System
  • Threat Intelligence
  • Others (firewall, disaster recovery, DDoS mitigation, web filtering, application whitelisting, and patch management)
• By End-user:
  • BFSI
  • Retail
  • Government & Defense
  • Manufacturing
  • Infrastructure
  • Enterprise
  • Healthcare
  • Automotive & Transportation
  • Others (oil & gas, education, energy)
• AI in Cyber Security Market Dynamics
• AI in Cyber Security Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints