NEW DELHI, May 26, 2023 (GLOBE NEWSWIRE) — The global artificial intelligence (AI) market in cybersecurity market is thriving due to the increasing use of social media for business functions and an increasing demand for advanced cybersecurity solutions and data protection.
In its latest study, BlueWeave Consulting, a leading strategic consulting and market research company, estimated the global market size for artificial intelligence (AI) in cybersecurity at 20.26 billion US dollars in 2022. For the forecast period between 2023 and 2029, BlueWeave expects the global artificial intelligence (AI). The market size of artificial intelligence (AI) in cybersecurity is projected to grow at a robust CAGR of 21.63% and reach a value of US$79.23 billion by 2029. Among the key growth drivers for the global artificial intelligence (AI) market in cybersecurity is an increasing demand for advanced security solutions. a growing number of cyber attacks and the increasing sophistication of cyber criminals. Cyber ​​AI is now in demand as it can provide a proactive defense mechanism with accurate detection. For example, there is a high demand for AI to perform constant user authentication using behavioral biometrics. Industry players should prioritize machine learning (ML) algorithms to harness the power of AI to bolster security intelligence. Furthermore, the rise in privacy concerns, the importance of AI-based cybersecurity solutions in the banking sector, and the frequency and complexity of cyber threats are expected to drive the growth of global artificial intelligence (AI) in cybersecurity market over the analysis period. However, the expanded need for demonstrative data is expected to slow the growth of the overall market.
Global Artificial Intelligence (AI) Market in Cybersecurity Market – Overview
Artificial intelligence (AI) in cybersecurity refers to the application of AI-based technologies to improve the security of computer systems, networks and data from cyber threats such as malware, phishing, hacking and insider threats. AI is used in cybersecurity to automate and enhance various security processes such as threat detection, incident response, and vulnerability assessment. AI-based systems use machine learning (ML) algorithms to analyze significant amounts of data from various sources, including network logs, security events, and user behavior, to identify patterns and potential threats.
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Impact of COVID-19 on the Global Artificial Intelligence (AI) Market in Cybersecurity Market
The COVID-19 pandemic has had a dual impact on the global artificial intelligence (AI) market in cybersecurity market. While the pandemic caused economic uncertainty and disruption across industries, it also highlighted the importance of cybersecurity as more businesses and individuals migrated to remote work and digital communications. As businesses and individuals became more reliant on technology during the pandemic, the demand for cybersecurity solutions increased. This has led to increased investment in AI-based cybersecurity solutions that can provide real-time threat detection and response capabilities. The pandemic has also highlighted the need for automation in cybersecurity as security teams have been forced to work remotely and deal with a greater number of security incidents. AI-based cybersecurity solutions can automate routine security tasks, freeing security teams to focus on more complex tasks.
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Global Artificial Intelligence (AI) Market in Cybersecurity Market – by Technology
Technically, the global artificial intelligence (AI) market is segmented into machine learning (ML), natural language processing (NLP), and context-aware computing. The machine learning (ML) segment took the lead. As deep learning becomes more mainstream in end-use sectors, ML technology will experience rapid growth. Leading companies including Google and IBM use ML for threat detection and email filtering. Businesses are using machine intelligence and deep learning to improve cybersecurity practices. During the analysis period, the Natural Language Processing (NLP) segment could fuel the growth of the global cybersecurity AI market. The surge in popularity of sentiment analysis, natural language inference systems, text summaries, and question-and-answer systems is a key driver of the rise.
competitive landscape
Key players in the global Artificial Intelligence (AI) Market in Cybersecurity Market include Acalvio Technologies Inc., Amazon Web Services, Inc., Cylance Inc. (BlackBerry), Darktrace, FireEye, Inc., Fortinet, Inc., IBM Corporation and Intel Corporation, LexisNexis, Micron Technology, Inc., Palo Alto Networks Inc., Trellix, CrowdStrike, NortonLifeLock, ThreatMetrix, Securonix Inc. and Microsoft. To further increase their market share, these companies employ various strategies including mergers and acquisitions, partnerships, joint ventures, licensing agreements and new product launches.
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The detailed analysis of the report provides information about the growth potential, upcoming trends and the statistics on the global Artificial Intelligence (AI) in Cybersecurity market. It also highlights the factors that drive overall market size forecasts. The report promises to provide latest technology trends in the global Cybersecurity Artificial Intelligence (AI) market, as well as industry insights to help decision makers to make informed strategic decisions. In addition, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Recent Developments
In September 2022, NVIDIA announced the launch of NVIDIA IGX, a platform for high-precision edge-al technology to deliver advanced security and proactive security for critical industries such as manufacturing, logistics, and healthcare.
scope of the report
AttributesDetailsYears CoveredHistorical Data – 2019-2022Base Year – 2022Estimate Year – 2023Forecast Period – 2023-2029Facts CoveredRevenue in billions of US$Market CoverageNorth America, Europe, Asia Pacific, Latin America, Middle East & AfricaProduct/Service SegmentationType, Offering, Technology, Application, Industries, RegionKey PlayersAcalvio Technologies Inc ., Amazon Web Services, Inc., Cylance Inc. (BlackBerry), Darktrace, FireEye, Inc., Fortinet, Inc., IBM Corporation, Intel Corporation, LexisNexis, Micron Technology, Inc., Palo Alto Networks Inc. , Trellix, CrowdStrike, NortonLifeLock, ThreatMetrix, Securonix Inc., Microsoft
By type
Network security Endpoint security offers security cloud security
By offering
hardware software services
Through technology
Machine Learning (ML) Natural Language Processing (NLP) Context Aware Computing
On application
Identity & Access Management, Risk & Compliance Management, Data Loss Prevention, Unified Threat Management, Fraud Detection/Anti-Fraud, Threat Intelligence, Other
After verticals
BFSI Retail, Government & Defense, Manufacturing, Healthcare, Automotive & Transportation
By region
North America Europe Asia Pacific (APAC) Latin America (LATAM) Middle East and Africa (MEA)
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