Growing adoption of IoT and the number of connected devices, rising instances of cyber attack, growing worries about data privacy, and increasing vulnerability of Wi-Fi networks to security threats are all major drivers of market expansion. Furthermore, growing demand for cloud-based security solutions among SMEs and increased usage of social media for business operations are underlying prospects for the AI in cybersecurity market.
The artificial intelligence in cybersecurity market is expected to grow at a CAGR of 23.3 percent from USD 8.8 billion in 2019 to USD 38.2 billion in 2026.
During the projected period, enterprise will have the greatest market share of AI in cybersecurity based on end user.
Enterprises are considerably boosting their cybersecurity budgets, integrating business strategy with cybersecurity plans, and developing cyber awareness initiatives for employees and customers to secure the safety of essential infrastructure and technological advances. To govern telecom and IT cyber threats, several initiatives, such as the Global Information Society Project Program on Telecommunication Policy, as well as severe telecom and regulatory rules, have been implemented.
The Global Artificial Intelligence in Cybersecurity Market Study’s Key Findings Include:
Until 2027, machine learning will dominate the whole artificial intelligence market in cybersecurity.
Machine learning technology is expected to account for the highest share of the entire artificial intelligence in cybersecurity market in 2020, based on technology. The segment’s substantial market share can be ascribed to its capacity to collect, process, and handle enormous amounts of data from various sources. This aids in developing data-driven forecasts, forecasting cyber risks, and evaluating real-time user activity patterns in order to safeguard the network from cyberthreats. Machine learning technology is predicted to grow at the quickest rate in the next years as a result of continued advancements in the field and significant investment in R&D.
Until 2027, the software segment will dominate the overall artificial intelligence industry in cybersecurity.
The software sector is expected to account for the greatest share of the entire artificial intelligence in cybersecurity market in 2020, according to component. The growing number of data security concerns, increased demand for AI platforms solutions for security operations, and increasing demand for robust and cost-effective security solutions among business enterprises to strengthen their cybersecurity infrastructure are all driving this segment’s large share. Furthermore, the growing demand for new installation and integration, as well as organisations’ demand for frequent support and maintenance, are likely to propel the service segment forward at a rapid pace during the projection period.
During the projection period, the cloud security segment is expected to develop at the quickest CAGR.
The cloud security segment is expected to grow at the fastest CAGR over the forecast period, owing to increased acceptance of Internet of Things (IoT) devices, growing adoption of cloud-based security technologies, and rising demand for robust and cost-effective security services. Furthermore, the increased adoption rate of cloud computing among small and medium-sized businesses has boosted the cloud security segment’s growth in the overall AI in cybersecurity market.
Through 2027, the banking, financial services, and insurance industries will dominate the entire artificial intelligence in cybersecurity market.
The BFSI sector is expected to account for the highest share of the entire artificial intelligence in cybersecurity market in 2020, according to industry vertical. The rising sophistication levels of cyber-attacks, increasing number of financial & banking frauds, hacking, and mounting number of cyber-attacks in the banking & financial services industry make for a substantial share of this category. In addition, with the arrival of Industry 4.0 and the rapid wave of digital transformation, the manufacturing sector is predicted to develop at the quickest CAGR throughout the forecast period.
The largest regional market is North America.
North America is expected to dominate the global artificial intelligence in cybersecurity market in 2020, followed by Asia Pacific, Europe, Latin America, and the Middle East and Africa. The presence of major players as well as several emerging startups in the region, increased government initiatives toward advanced technologies such as artificial intelligence, proliferation of cloud-based solutions, increasing sophistication of cyber-attacks, and emergence of disruptive digital technologies all contribute to the region’s large share. During the projected period, however, the Asia Pacific area is expected to grow rapidly.
In the next five years, software for AI in cybersecurity will expand faster than hardware and services.
During the projected period, the AI in cybersecurity software market is expected to develop at the fastest CAGR. To achieve the applications for cybersecurity, AI systems require several forms of software, including application programme interfaces, such as language, voice, vision, and sensor data, as well as machine learning techniques. Because there are a limited number of experts that design machine learning algorithms, software platforms and solutions are more expensive. Darktrace (UK), Cylance (US), Securonix (US), and IBM (US) are among the frontrunners in software development for the AI in cybersecurity sector.
Artificial Intelligence (AI) in the Security Industry
During the projection period, North America will account for the greatest market share.
North America is one of the leading contributors to the AI in cybersecurity market, with the United States accounting for the greatest share in 2018. Because North America was an early adoption of AI, it dominates the worldwide AI in cybersecurity industry. Because banks, government organisations, and financial institutions in North America confront ever-increasing cyber dangers, the region is an early user of novel solutions. As a result, advanced technologies are used to control the cybersecurity environment. Furthermore, this area is home to various cybersecurity vendors, adding to the growth of the AI in cybersecurity market in North America.
Players in the Market
NVIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US), Samsung Electronics Co., Ltd. (South Korea), Micron Technology, Inc. (US), IBM Corporation (US), Amazon Web Services, Inc. (US), Darktrace (UK), Cylance Inc. (US), Vectra AI, Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US), Acalvio Technologies (US
- NVIDIA announced the Jetson Nano, an AI computer that makes it possible to create millions of intelligent systems. The small but powerful CUDA-X AI computer delivers 472 GFLOPS of compute performance for running modern AI workloads and is highly power-efficient, consuming as little as 5 watts.
- Cylance announced the Cylance native AI platform, which delivers a full suite of security solutions through a single, agile agent for comprehensive attack surface protection with deep-learning Al algorithms in its DNA to support automated threat detection, prevention, forensic investigation, and response capabilities to customers worldwide.
- Darktrace announced a partnership that combines Darktrace’s cyber AI with Endace’s unparalleled forensic capabilities. This combined solution empowers organizations to discover in-progress attacks anywhere on the digital infrastructure with Darktrace’s AI, and investigate them with industry-leading speed, scale, and accuracy using Endace’s packet-level network history.
- Symantec announced new data loss prevention capabilities that make it easier for customers to protect confidential data from malicious, data-stealing apps, and help meet regulatory compliance requirements. Integration of Symantec data loss prevention and endpoint protection helps customers stop fake apps and malware from leaking sensitive information.
- Cylance, a privately held and cybersecurity company based in Irvine, California, acquired by BlackBerry Limited (Canada). Cylance’s machine learning and artificial intelligence technology is a strategic addition to BlackBerry’s end-to-end secure communications portfolio. Notably, its embeddable AI technology accelerates the development of BlackBerry Spark, the secure communications platform for the Internet of Things (IoT) in the coming years.
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