The global artificial intelligence (AI) in cyber security market was USD 7.1 billion in 2018 and is expected to reach approximately USD 30.9 billion by 2025, at a CAGR of slightly above 23.4% between 2019 and 2025, according to Zion market research report
The global artificial intelligence (AI) in cyber security market was USD 7.1 billion in 2018 and is expected to reach approximately USD 30.9 billion by 2025, at a CAGR of slightly above 23.4% between 2019 and 2025, according to Zion market research report.
The worldwide adoption of Artificial Intelligence (AI) is significantly emerging and the AI penetration rate is accelerating rapidly for various cyber security applications. Among numerous benefits attained by AI implementation in cyber security, its ability to adapt to changes in detecting potential threats is the most beneficial for organizations.
The globally increasing IoT adoption and the number of connected devices have simultaneously increased the risk of cyberattacks. The rising number of cybercrimes is propelling the artificial intelligence (AI) in cyber security market. Some common cyber frauds faced by large enterprises are identity and payment card thefts, these cybercrimes when not resolved on time can lead to huge monetary losses. Cybersecurity providers are significantly using AI solutions for tackling such cyberattacks by early threat detection, response time reduction, and segregation as per priority.
AI solutions not only provide wider security as compared to human potential but also simplify complete recognition and acknowledgment procedures related to cyber frauds. Thereby, the escalating cybersecurity risk incidences are prominently driving the artificial intelligence (AI) in cyber security market globally. However, the lack of technical expertise for AI application implementation may hinder the artificial intelligence (AI) in cyber security market growth.
The artificial intelligence (AI) in cyber security market is categorized based on offering, security, technology, security solution, and end-user. By offering, the market includes hardware (processors, memory, and network), software (AI platforms and AI solutions), and services (support and maintenance and deployment and integration). The security segment is majorly classified into endpoint security, network security, cloud security, and application security. The technology segment is categorized into machine learning, context awareness, and NLP.
Machine learning segment is further segregated into supervised learning, deep learning, reinforcement learning, unsupervised learning, and others. On the basis of security solution, the market is segmented into identity and access management, risk, and compliance management, antivirus/antimalware, data loss prevention, encryption, intrusion detection/prevention systems, unified threat management, and others. The end-user segment of the market comprises BFSI, government and defense, retail, enterprises, manufacturing, healthcare, infrastructure, automotive and transportation, and others.
North America is anticipated to hold a substantial share in the artificial intelligence (AI) in cyber security market globally in the years ahead, owing to the remarkable presence of globally leading market players and the early adoption of latest technologies and AI solutions for cybersecurity. Prominent market competitors are headquartered in the United State and thereby it beholds largest market share in the region. Some leading companies that are headquartered in the U.S. are Intel, NVIDIA, Micron Technology, Amazon Web Services, Vectra AI, Cylance, ThreatMetrix, Sift Science, Symantec Corporation, and IBM.
The European artificial intelligence (AI) in cyber security market is mainly propelled by the rising number of market-relevant business activities like a product launch, regional partnerships, collaborations, mergers, and acquisitions. On 16th October 2018, Darktrace and Endace officially announced their partnership that combined Darktrace’s cyber AI with Endace’s unparalleled forensic capabilities, to combat any in-progress cyber threats anywhere on their digital infrastructure. The European Union is observed to be a major market contributor in the region. The market demand in Germany is mainly driven by the escalating cases of spyware, malware, and ransomware.
The Asia Pacific artificial intelligence (AI) in cyber security market is forecasted to grow at the fastest rate, owing to the emerging information and technology sector of developing economies of India and China. The regional market will be dominated by China with a substantial market share over the forecast timeframe, owing to the rising consumption of connected devices. As per a recent survey, 13% of Chinese respondents use a minimum of three connected devices. The rising adoption of innovative technologies in small- to medium-sized enterprises is anticipated to propel this market in India.
In Latin America, the artificial intelligence (AI) in cyber security market is mainly driven by the rising number of cyberattacks and frauds. As per the Internet Security Threat Report 2018 (ISTR), documented by Symantec that included an in-depth analysis of cyberattacks stated that Brazil ranked 7th globally with respect to ransomware attacks.