Artificial Intelligence in Cybersecurity Market worth $60.6 Billion by 2028 - Exclusive Report by MarketsandMarkets™

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Dec 12, 2022, 09:30 ET

CHICAGO, Dec. 12, 2022 /PRNewswire/ -- The artificial intelligence in cybersecurity market size is valued at USD 22.4 Billion in 2023 and is anticipated to be USD 60.6 Billion by 2028; growing at a CAGR of 21.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The key factors contributing to the growth of Artificial intelligence in the cybersecurity market include the increasing instances of cyber threats, rising concerns of data protection, and increasing vulnerability of Wi-Fi networks to the security threats are among the factors driving the growth of Artificial intelligence in the cybersecurity market.

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Endpoint security is expected to hold the largest share during the forecast period

Endpoint security refers to the security provided for network devices such as personal computers, laptops, smartphones, tablets, bar code readers, or Point of Sale (POS), which are the endpoints that are connected to a client server. Endpoint security solutions include antivirus, antispyware/malware, encryption personal firewall, IDS/IPS, patch and configuration management, behavioral blocking software, and virtualization security. These solutions provide continuous real-time threat detection, prevention, and response to network devices (endpoint). Increasing number of mobile devices has made networks more vulnerable to cyberattacks and malware. Moreover, the trend of mobile workers, BYOD, social media, and cloud synchronizing tools drives the growth of the market for endpoint security.

APAC exhibit the highest CAGR during the forecast period

APAC is highly concerned about the increasing security spending owing to the ever-growing threat landscape. Machine learning, IoT, Big Data analytics, and AI are the emerging methodologies that are being deployed in this region. Organizations are transforming their businesses to cloud to increase productivity speed and business performance. The nature of cyber threats is changing continuously and becoming more sophisticated. Ransomware, ad fraud malware, android malware, DDoS, botnets, banking Trojans, and adware are the topmost malware attacks in this region. Rising population and government policies, among other factors, are expected to boost the growth of the AI in cybersecurity market in APAC.

Software to dominate artificial intelligence in cybersecurity market during forecast period

Software holds a major share of the overall AI in cybersecurity market owing to developments in AI software and related software development kits. AI systems require different types of software, including application program interfaces, such as language, speech, vision, and sensor data, along with machine learning algorithms, to realize the applications for cybersecurity. The software platforms and solutions are available at higher costs as there are only a limited number of experts that develop machine learning algorithms. Companies such as Darktrace (UK), Cylance (US), Securonix (US), and IBM (US) are among the frontrunners in the development of software for the AI in the cybersecurity market.

Automotive & Transportation To grow at highest CAGR during forecast period

In the automotive industry, Big Data poses a significant problem with connected car becoming more of a gadget than a purely physical product, constantly synced and updated. It now produces huge amounts of data. Combining machine learning with Big Data analytics presents an opportunity to make sense of the huge volumes of valuable data collected from vehicles, servers, and smart mobility services. Using machine learning, patterns of "normal" behavior can serve as baselines to identify anomalies from cyber threats and policy violations to vehicle and driver irregular behaviors.

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The key players in this market are 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), Microsoft (US), Palo Alto Networks Inc. (US), Trellix (US), CrowdStrike (US), and NortonLifeLock (US). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

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