AI in Cybersecurity Market is projected to reach the value of USD 102.79 Billion by 2030

According to the report published by Virtue Market Research, AI in Cybersecurity Market was estimated at USD 18.75 Billion in 2022 and is anticipated to be a value of USD 102.79 Billion by 2030, growing at a fast CAGR of 23.7% during the forecast period 2023-2030, owing to the rise in cybersecurity vulnerabilities, threats, and cyberattacks.

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Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computers, that are programmed to think and perform tasks that normally require human intelligence, such as learning, problem-solving, and decision-making. AI involves the development of algorithms and computer programs that can analyse large amounts of data and execute intricate tasks that would otherwise necessitate human intervention. AI in cybersecurity is a robust tool for identifying vulnerabilities, threats, and cyberattacks by analysing vast amounts of data from multiple sources, detecting patterns, and making decisions in real time. AI uses autonomous systems and learning patterns to prevent new attacks, in contrast to conventional cybersecurity methods that only detect known threats. AI outperforms traditional cybersecurity systems, even when partially deployed, thus significantly reducing threats. Traditional methods may not be able to effectively secure organizational networks and services in the face of increasingly sophisticated attacks. This is where AI enters the picture to enhance security and broaden the scope of threat detection. The increasing frequency and complexity of cyber threats, vulnerabilities, and attacks are factors expanding the growth of global AI in the cybersecurity market. AI can help detect and respond to attacks more quickly and effectively, so traditional security measures are no longer sufficient to protect against modern threats. AI in cybersecurity provides advancements in vulnerability management, data handling, threat detection, network monitoring and security, password protection, and user authentication.

The outbreak of the COVID-19 pandemic significantly impacted the global AI in cybersecurity market. Due to the travelling restrictions and lockdowns in almost every nation, several organizations shifted to remote work and online operations, which led to increasing data thefts, ransomware attacks, and data breaches across organizations. These hindrances led to greater demand for cybersecurity solutions that incorporate AI to aid in detecting and preventing these types of attacks. Many Cybersecurity companies, such as Thales, developed a cybersecurity platform, called Cybels Analytics, which is based on artificial intelligence to detect complex cyberattacks in real time. It employs cutting-edge artificial intelligence and big data analytics technologies to detect attacks faster, more accurately, and more thoroughly. Such development of AI in cybersecurity during the pandemic resulted in faster detection of cybersecurity dangers, secure network and authentication, analysis of suspicious behaviour, and prevention of online fraudulent activities. Additionally, with the advent of the Industry 4.0 the need for AI in the cyber security sector has also increased augmenting the market expansion.

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Segmentation Analysis:

By Offerings:
• Hardware
• Software
• Services

In 2022, the software segment held the largest share of the global AI in cybersecurity market. The robust demand for application program interfaces, such as speech, vision, machine learning algorithms, and sensor data, is fuelling the global AI in cybersecurity market growth. The software has a unique capability of accurately identifying abnormal activities. Thus, these factors are the primary driver for segmental growth.

By Deployment Model:
• On-Premises
• Cloud

In 2022, the cloud-based deployment model segment held the largest share of the global AI in cybersecurity market. It is a result of the growing number of organizations adopting cloud platforms for data repositories and the increasing desire to decrease capital investments necessary to install cybersecurity solutions. Additionally, due to the COVID-19 pandemic, several businesses began migrating their operations to the cloud, prompting security service providers to develop cloud-based security solutions.

By Technology:
• Machine Learning (ML)
• Natural Language Processing (NLP)
• Context-Aware Computing

In 2022, the machine learning segment held the largest share of the global AI in cybersecurity market owing to the rapid increase in applications of ML across several industry verticals. In order to safeguard businesses against potential cyber-attacks, machine learning assists in intelligently identifying previously unknown vulnerabilities, threats, and attacks. Security systems use machine learning to look for patterns and learn from them to prevent similar attacks and adapt to changing behavior. It enables cybersecurity teams to respond to active attacks immediately and be more proactive in preventing cyber threats.

By Security Type:
• Cloud Security
• Application Security
• Endpoint Security
• Network Security

In 2022, the cloud security segment held the highest share of the global AI in cybersecurity market. A set of security measures meant to safeguard cloud-based applications, data, and infrastructure is referred to as cloud security or cloud computing security. These measures provide data privacy protection, control over resource and data access, and user and device authentication. The increasing cyber threats along with data thefts are leading to the expansion of the segment.

By Application:
• Anti-Virus/ Anti-Malware
• Identity and Access Management
• Data Loss Prevention
• Fraud Detection/ Anti-Fraud
• Intrusion Detection/ Prevention System
• Security and Vulnerability Management
• Unified Threat Management
• Others

In 2022, the fraud detection/ anti-fraud segment held the largest share of the global AI in cybersecurity market as AI in the sector is majorly used to detect and withstand fraud as early preventative controls. In the face of an increase in fraud cases, machine learning has emerged as a practical tool for enhancing the ability of governments and other end-users to prevent fraudulent activities.

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Regional Analysis:

In 2022, the North American region held the largest share of the global AI in cybersecurity market, accounting for more than 35% of the market share. North America makes significant investments in cybersecurity solutions to prevent the theft of intellectual property and the compromise of systems that monitor and control the nation's defense systems and capabilities. Autopilot vehicles, hypersonic weapons, and other new technologies have been developed by countries like the United States in order to keep up with recent advancements in defense. These advancements are vulnerable to breaches and attacks because they rely heavily on data and connectivity. As a result, the US has augmented its focus on developing securities to protect critical information. With major players like Symantec, Intel Security, IBM Security, and Dell EMC based in the country and the support of start-ups that play a crucial role in cyberspace, the United States is strategically positioned to combat cybersecurity threats. The studied market in the United States has emerged as one of the significant technological sectors thanks to its emphasis on new technologies and numerous strategic alliances.

Latest Industry Developments:

• In February 2023, Darktrace unveiled its PREVENT/OT AI solution, a self-learning tool that identifies adversaries' possible strategies for disrupting critical infrastructure operations.

• In February 2023, Fortinet announced the development of a new ASIC that promises to integrate the security and network functions of its core family of FortiGate firewalls more efficiently and powerfully.

• In July 2022, Trellix announced a partnership with the Hispanic Alliance for Career Enhancement (HACE) to launch a comprehensive mentorship and educational program to boost the cybersecurity workforce.

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This release was published on openPR.