With 21.9% CAGR, Artificial Intelligence in Cybersecurity Market Growth to Surpass USD 60.6 billion

The artificial intelligence in cybersecurity market size is valued at USD 22.4 Billion in 2023 and is anticipated to be USD 60.6 Billion by 2028; growing at a CAGR of 21.9% from 2023 to 2028. Factors such as the increasing instances of cyber threats, and rising concerns about data protection are driving the growth of the market during the forecast period.

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Based on the deployment type artificial intelligence in cybersecurity market has been segmented into on-premise and cloud. The cloud segment is expected to have a higher growth rate during the forecast period. Cloud deployment significantly reduces the capital investment that is required to implement cybersecurity solutions; this is among the major reasons for the increased demand for cloud-based cybersecurity from most enterprises.

Based on the offering the artificial intelligence in the cybersecurity market has been segmented into hardware, software, and services. The software holds a major share of the overall AI in the cybersecurity market owing to developments in AI software and related software development kits. AI systems require different types of software, including application program interfaces, such as language, speech, vision, and sensor data, along with machine learning algorithms, to realize the applications for cybersecurity.

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Based on the end users the artificial intelligence in the cybersecurity market into government & defense, BFSI, enterprise, infrastructure, automotive & transportation, healthcare, retail, manufacturing, and others (oil & gas, education, and energy). The enterprise segment held the largest share of artificial intelligence in the cybersecurity market. The high volumes of data and complexity of IT infrastructure that enterprise companies manage and operate create major security challenges. As operators continue to modernize and adopt more innovative products and services, enterprises have become more vulnerable to attacks on their IT infrastructure which driving the growth of enterprise market.

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