Artificial Intelligence (AI) in Cyber security Market : Size, Share, Applications, Technology Trends, Challenges and Forecast to 2024

The global artificial intelligence (AI) in cyber security market is predicted to grow at 35.0% CAGR during the forecast period (2018–2024) with the market size reaching USD 31.2 billion by 2024. The driving factor for the growth of the market includes the stringent data privacy regulations, increasing adoption of digital solutions, increasing number of cyber-attacks, and increasing inclination towards cloud-based solutions from on-premise.

Market Segmentation

Insight by Technology
Based on technology, the AI in cyber security market is categorized into:

Natural Language Processing
Speech Recognition
Machine Learning
Image Processing
Of all machine learning technology holds the largest share in the AI in cyber security market, globally. The machine learning technology offers rapid analysis, prediction and processing of data from unlimited number of sources and also helps in analyzing user behaviour and interpret them, which makes it’s the most utilized technology for AI in cyber security market.

Insight by Service Type
On the basis of security type, the market is segmented into:

Identity and Access Security Services
Network Security Services
Cloud Security Services
Data Security Services
Others
Of all, the AI for cloud cyber security services is predicted to witness the fastest growth during the forecast period. The primary factors responsible for the fastest growth of AI in cyber security services market are the increasing number of or large enterprises using cloud platform for data repository and as servers, which makes it vulnerable to cyber-attacks.

Insight by Application
Based on application, the market is segmented into:

Firewall
Distributed Denial of Services
Anomaly Detection
Web filtering
Intrusion Detection
Data Loss Prevention
The AI in cyber security market size is the largest for anomaly detection due to the increasing number of financial and banking frauds and mounting number of cyber-attacks. Different organizations especially banking and finance organizations require identification of any suspicious activities which might lead to possible fraud or cyber-attack, therefore they implement AI for cyber security to track any intrusion or fraud.

Industry Dynamics

Growth Drivers
Factors that have been acting as the driving factors for the growth of this industry are:

The stringent data privacy regulations
Increasing adoption of digital solutions
Increasing number of cyber-attacks
Increasing inclination towards cloud-based solutions from on-premise
Challenges
Key factors hindering the growth of the mobile AI in cyber security market are:

Limitation of security budget against cyber-attacks especially in developing and underdeveloped countries and inefficiency of AI to tackle cyber threats in advance
Dearth of skilled AI and cyber security professionals for cyber threats in developing and underdeveloped countries
Industry Ecosystem
North America is the largest AI in cybersecurity market as the number of mobile malware attacks are increasing in the country and increasing usage of connected devices in the region. Moreover, in the U.S., large number of industry players spend large sum of capital to tackle the cybersecurity threats.

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Geographic Overview

North America — US, and Canada
Europe — U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia Pacific — China, India, Australia, South Korea, Indonesia, and Rest of Asia-Pacific
Latin America — Brazil, Mexico, and Rest of LATAM
Middle East and Africa — South Africa, Qatar, Saudi Arabia, U.A.E., and Rest of MEA
Geographically, Asia-Pacific is observed to witness the fastest growth for AI solutions in cyber security during the forecast period. Different organizations including larges as well as small enterprises are adopting these technologies to ensure security from cyber-attacks.

Competitive Insight

The Key players in global AI in cybersecurity market are: Check 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.

About VynZ Research :
VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.

About VynZ Research :

VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.

This release was published on openPR.