Artificial Intelligence (AI) in Cybersecurity Market Propelled by Need for Advanced Protection Mechanisms Against Escalating Cyber Threats

Artificial Intelligence (AI) in Cybersecurity Market Scope and Overview

The SNS Insider report indicates that the Artificial Intelligence (AI) in Cybersecurity Market Size was valued at USD 21.89 Billion in 2023 and is expected to reach USD 111.27 Billion by 2031, growing at a CAGR of 22.4% over the forecast period 2024-2031.

Increasing artificial intelligence (AI) technologies, such as natural language processing (NLP) and machine learning (ML), have gained traction to protect, detect, and respond to threats. Furthermore, an exponential rise in cyberattacks on high-tech companies, defense, and government agencies has underscored the need for advanced AI in cybersecurity. Cyber AI has become sought-after to offer a proactive mechanism of protection with detection accuracy.

Get a Report Sample of Artificial Intelligence (AI) in Cybersecurity Market @ https://www.snsinsider.com/sample-request/1993

Major Key Players in the Market:

• NVIDIA Corporation
• Intel Corporation
• Xilinx
• Samsung Electronics
• Micron Technology
• IBM Corporation
• Amazon Web Services
• Darktrace
• Cylance
• Vectra AI
• Others

Market Analysis

SMEs, lacking robust security measures, are prime targets for cyber attackers focusing on data, networks, endpoints, and applications. Traditional security systems prove insufficient against threats like ransomware and malware, necessitating a shift to cloud-based cybersecurity solutions for comprehensive protection across development, production, and implementation phases. Cloud deployment offers SMEs flexibility, scalability, and cost-effectiveness, optimizing business operations. This transition towards cloud solutions creates growth opportunities for providers of cloud-based data protection solutions. The adoption of cloud-based security solutions, delivered through Software-as-a-Service (SaaS), addresses the increasing demand for IT security, especially as concerns about cloud data safety rise, further boosting the AI in cybersecurity market.

Market Segmentation and Sub-Segmentation Included are:

On The Basis of Component

• Software
• Service
• Hardware

On The Basis of Deployment

On The Basis of Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security

On The Basis of Technology

• Context-Aware Computing
• Machine Learning
• Natural Language Processing

On The Basis of Application

• Identity and Access Management
• Risk and Compliance Management
• Data Loss Prevention
• Unified Threat Management
• Security and Vulnerability Management
• Antivirus
• Fraud Detection
• Intrusion Detection and Prevention System
• Threat Intelligence
• Others

On The Basis of Industry Vertical

• Automotive & Transportation
• Retail
• BFSI
• Manufacturing
• Government & Defense
• Enterprise
• Oil & Gas
• Education
• Others

Growth Drivers of the AI in cybersecurity Market

• Shift towards Proactive Defense: Traditional cybersecurity approaches often rely on reactive measures, responding to cyber threats after they occur. However, AI-powered cybersecurity solutions enable organizations to adopt a proactive defense posture by anticipating and mitigating threats before they cause harm. This proactive approach is essential in combating the dynamic and rapidly evolving nature of cyber threats.
• Increasing Regulatory Compliance Requirements: Stringent regulatory frameworks, such as GDPR, HIPAA, and PCI DSS, impose strict requirements on organizations to safeguard sensitive data and protect against cyber threats. Non-compliance can result in severe financial penalties and reputational damage. As a result, organizations are investing in AI-driven cybersecurity solutions to ensure compliance with regulatory standards and enhance data protection measures.
• Emergence of IoT and Connected Devices: The proliferation of Internet of Things (IoT) devices and connected systems has expanded the attack surface for cybercriminals, posing new security challenges for organizations. AI-based cybersecurity solutions are crucial for securing IoT devices and networks, detecting and mitigating potential threats in real-time, and ensuring the integrity and confidentiality of sensitive data transmitted across interconnected devices.

Ask for a Discount @ https://www.snsinsider.com/discount/1993

Impact of Russia Ukraine War

The war between Russia and Ukraine have sent ripples throughout the cybersecurity realm, reshaping strategies for both nation-states and private sector firms. Rather than being standalone weapons, cyber operations are now seen as tools for coercion and deception in modern warfare. Russias historical cyber activities have leaned towards long-term competition, blending political warfare, espionage, and disruptive campaigns to sway political outcomes. Cybersecurity companies are adopting diverse strategies tailored to their specialties. Security Operations Center (SOC) teams are on high alert, gathering actionable intelligence on Russian activities and responding swiftly to increased alerts. The focus is on fortifying defensive measures to thwart potential breaches before they occur.

Impact of Economic Slowdown

During an economic slowdown, the AI in cybersecurity market may face challenges, but it generally maintains growth. This is driven by the growing complexity of cyber threats and the increasing need for advanced security solutions. Factors like heightened mobile device usage, remote work arrangements, and greater awareness of cybersecurity contribute to its resilience. Despite economic uncertainties, the AI in cybersecurity sector continues to expand, albeit possibly at a slower pace.

Key Regional Development

North America dominated the market with a holding revenue share of more than 32%, driven by the increasing number of network-connected devices, IoT, 5G, and Wi-Fi 6 technologies. Industries such as automotive, healthcare, government, energy, and mining have been actively expanding their 5G networks, which has also opened potential vulnerabilities for cyber-attacks.

North America leads in the adoption of NLP, ML, and neural networks to bolster security measures and identify abnormal user behaviors and patterns. Throughout the forecast period, the global market for artificial intelligence in cybersecurity is anticipated to witness rapid growth in the Asia Pacific region. Emerging economies in the region are primarily focused on integrating new technologies.

Key Takeaways

• Escalating cyber threats are driving exponential growth in the Artificial Intelligence (AI) in Cybersecurity Market.
• Machine learning technology dominates the market, offering enhanced threat detection and response mechanisms.
• The North American region leads in market share due to technological advancements and the increasing adoption of AI-driven cybersecurity solutions.

Recent Developments

In August 2022: reports surfaced that Thoma Bravo was considering acquiring Darktrace. Microsoft announced the official launch of Microsoft Defender Experts for Hunting in August 2022, a proactive threat-hunting tool.

Buy the Latest Version of this Report @ https://www.snsinsider.com/checkout/1993

Table of Contents- Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
   • Drivers
   • Restraints
   • Opportunities
   • Challenges
4. Impact Analysis
   • COVID-19 Impact Analysis
   • Impact of Ukraine- Russia war
   • Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Artificial Intelligence (AI) In Cybersecurity Market, By Component
   • Introduction
   • Trend Analysis
   • Software
   • Service
   • Hardware
9. Artificial Intelligence (AI) In Cybersecurity Market, By Deployment
   • Introduction
   • Trend Analysis
   • On-premises
   • Cloud
10. Artificial Intelligence (AI) In Cybersecurity Market, By Security Type
    • Introduction
    • Trend Analysis
    • Network Security
    • Endpoint Security
    • Application Security
    • Cloud Security
11. Artificial Intelligence (AI) In Cybersecurity Market, By technology
    • Introduction
    • Trend analysis
    • Context-Aware Computing
    • Machine Learning
    • Natural Language Processing
12. Artificial Intelligence (AI) In Cybersecurity Market, By Application
    • Introduction
    • Trend analysis
    • Identity and Access Management
    • Risk and Compliance Management
    • Data Loss Prevention
    • Unified Threat Management
    • Security and Vulnerability Management
    • Antivirus
    • Fraud Detection
    • Intrusion Detection and Prevention System
    • Threat Intelligence
    • Others
13. Artificial Intelligence (AI) In Cybersecurity Market, By Industry Vertical
    • Introduction
    • Trend analysis
    • Automotive & Transportation
    • Retail
    • BFSI
    • Manufacturing
    • Government & Defense
    • Enterprise
    • Oil & Gas
    • Education
    • Others
14. Regional Analysis
    • Introduction
    • North America
    • Europe
    • Asia-Pacific
    • The Middle East & Africa
    • Latin America
15. Company Profile
16. Competitive Landscape
    • Competitive Benchmarking
    • Market Share Analysis
    • Recent Developments
17. USE Cases and Best Practices
18. Conclusion

About Us

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our companys aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, were proud to be recognized as one of the worlds top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.