The market for artificial intelligence in cybersecurity was estimated to be worth about US$16.5 billion. By the end of 2032, the market is expected to have grown at a CAGR of 16.2% over the subsequent ten years, with a projected worth of about US$ 91.7 Bn. The growing demand for sophisticated cybersecurity and privacy solutions is one of the main drivers of the market’s rise.
With the help of AI-based cybersecurity solutions, it is now possible to fundamentally move away from signature-based detection in favor of more flexible and continuous network monitoring as it deviates from expected behavior. Businesses use AI to automate cyber defense against spam and phishing, as well as to find malware, fraudulent payments, compromised machines, and network infrastructure. The cost-availability nexus is another facet of AI development that adds to the widening of the range of destructive actors.
North America will see continued revenue growth in Artificial Intelligence in the Cybersecurity Market throughout the Analysis Period
The substantial market share that North America currently holds is due to the region’s concentration of key players as well as a number of new start-ups, the expansion of government initiatives aimed at advancing technologies like artificial intelligence, the widespread use of cloud-based services, the increasing sophistication of cyberattacks, and the rise in cyber threats.
With 38.3% of global sales, North America dominated the artificial intelligence in cyber security market ecosystem in 2020. It is believed that the existence of well-known businesses like IBM, Cisco Systems Inc., Dell Root 9B, Check Point Software Technologies Ltd., and Palo Alto Networks, which offer state-of-the-art solutions and services to all the sectors in the area, has contributed to the growth.
Sales Analysis Of Artificial Intelligence In Cybersecurity Market From 2015 To 2021 Vs Market Outlook For 2022 To 2032The global market for the Artificial Intelligence in Cybersecurity Market expanded at a CAGR of 27.7% over the last four years (2015-2021). Many security analysts claim that in the second quarter of 2020, there were an average of 419 malware threats per minute, a rise of 44 per minute.Every day, there are over 590 Thousand new, unique malware files, according to Interpol. In a similar vein, the 2020 Remote Workforce Cybersecurity Report found that 34% of respondents had experienced a breach as a result of the move to telework, with nearly two-thirds of respondents reporting an increase in breach attempts.The United States will continue to be the largest user of Artificial Intelligence in Cybersecurity services throughout the analysis period accounting for over US$ 16.1 Bn absolute dollar opportunity in the coming 10-year period.
What Are The Major Opportunities In The Artificial Intelligence In Cybersecurity Market?Today's industries rely significantly on endpoint devices as they help organizations run as efficiently as possible and stay current with technology so they can compete. Unauthorized access, data breaches, and cyber threats are few of the new issues that have emerged as a result of the spread of these devices.The demand for artificial intelligence in cybersecurity has grown as people feel more secure. The introduction of digital technologies like the Internet of things has accelerated the pace of industry verticals' digital transformation.Cybercriminals or hackers can now attack gadgets like webcams, smart TVs, routers, printers, and even a smart home due to the development of linked devices in industry verticals including healthcare organizations and BFSI. According to Ponemon Institute, vital data and customer information were exposed by endpoint assaults in 68% of firms in 2019.The rise in cyberattacks and data breaches has compelled businesses to use more edge-based, decentralized AI cybersecurity solutions, which is fueling the market for this technology. Artificial intelligence is thus anticipated to expand in the cybersecurity industry as a result of increased investment and growing awareness of the need for AI in cybersecurity solutions.
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