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AI Trust, Risk And Security Management Report 2024 - Market Share Analysis And Trends
AI Trust, Risk And Security Management Global Market Report 2024
According to The Business Research Company's, The AI trust, risk and security management market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to growing trust in ai, increasing awareness of ai capabilities, increasing data proliferation, expansion of I0T and connected devices, and increasing cloud adoption.
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Market Drivers and Trends:
Increasing cyber threats are expected to propel the growth of the AI trust, risk, and security management market going forward. Cyber threats are malicious activities conducted through digital networks or systems aimed at causing damage, stealing data, or disrupting operations. AI trust, risk, and security management are useful for preventing cyber threats by enabling early detection and proactive mitigation of potential risks. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based government agency, the number of cybercrime reports received in 2021-2022 was 76,000, an increase of nearly 13% from the 2020-2021 financial year. Therefore, increasing cyber threats are driving the growth of the AI trust, risk, and security management market.
Major companies operating in the AI trust, risk and security management market are focused on developing a secure AI framework to increase their profitability in the market. A Secure AI Framework for AI Trust, Risk, and Security Management is a set of guidelines and best practices designed to ensure the ethical, transparent, and safe use of AI technologies, minimizing risks and enhancing trustworthiness. For instance, in June 2023, Google LLC, a US-based technology company, launched SAIF, representing a robust security infrastructure for AI. It focuses on solid security bases, effective data management, uniform platform regulations, and efficient security and compliance strategies while adapting AI deployment controls. SAIF also incorporates Google's top practices in software safety, centering on ethical AI creation and utilization.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Google LLC, AT&T Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, ARTHUR.ai, ServiceNow Inc., Palo Alto Networks Inc., Moody's Analytics Inc., Fortinet Inc., SAS Institute Inc., F5 Networks Inc., LogicManager Inc., Check Point Software Technologies Ltd., McAfee Corp., Trend Micro Inc., CrowdStrike Holdings Inc., Proofpoint Inc., Zscaler Inc., Sophos Ltd., RSA Security LLC, Rapid7, CyberArk Software Ltd., FireEye Inc., Darktrace Holdings Limited
AI Trust, Risk And Security Management Market 2024 Key Insights:
• The ai trust, risk and security management market is expected to grow to $4.64 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%.
• Evolving Cyber Threats Fuels Growth In AI-Based Security Market
• Advancing AI Trust And Security With Google's SAIF Initiative
• North America was the largest region in the AI trust, risk, and security management market in 2023
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