Artificial Intelligence in Cyber Security Market Will Reach $18.2 Billion by 2023 and Is Growing at a CAGR 36.0% During 2018 – 2023

The global artificial intelligence in cyber security market is growing at a CAGR 36.0% during 2018-2023 and will reach $18.2 billion by 2023. Artificial intelligence is playing a crucial role in cyber security by identifying threats and protecting organizations’ data from lethal cyber-attacks. It speeds up the process of noticing attacks and enables organizations to adopt predictive measures in combating cyber-crimes.

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Network security accounted for the largest market during the historical period, and is expected to grow at a CAGR 34.5% during the forecast period in the artificial intelligence in cyber security market. Growth of network security market is predominantly driven by the upsurge in the adoption of wireless networks and their susceptibilities, as establishments nowadays are increasingly depending on wireless networks for data transfer. On the basis of technology, machine learning is gaining traction in the artificial intelligence in cyber security market, and is projected to cross $6 billion by 2023. The larger revenue share of machine learning is mainly attributed to better threat learning algorithm using voluminous data to protect businesses.

During the forecast period, the fastest growth in artificial intelligence in cyber security market is expected in Asia-Pacific, owing to the increasing incidence of cyber-attacks. High value targets in a less secure environment have made this region a potential target for cyber-criminals.

Use of cloud to combat cyber-crimes through AI is gaining traction with some of the major companies investing heavily in AI capabilities for cognitive computing. AI not only improves current cloud platform incumbency, but also empowers new generation of cloud computing technologies to mitigate security risk. This factor will drive growth for artificial intelligence in cyber security market.

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Some of the major players in the artificial intelligence in cyber security industry are BAE Systems Plc, RSA Security LLC, IBM Corporation, Symantec Corporation, Palo Alto Networks Inc., Fortinet Inc., FireEye Inc., Check Point Software Technologies Ltd, Cisco Systems Inc. and Juniper Networks, Inc. Most of the vendors are actively focusing on enhancing their offerings to meet the ongoing demand to combat cyber-attacks, globally.

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