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    Artificial Intelligence in Cybersecurity Market Report

    Artificial Intelligence in Cybersecurity Market Report
    Report code - SR2386 Delivery - 2 Weeks
    Artificial Intelligence in Cybersecurity Market Size, Share, Trend, Forecast, Competitive See more...

    Market Insights

    The global artificial Intelligence in cybersecurity market is expected to grow from USD 17.96 billion in 2022 to USD 66.49 billion by 2029 at a CAGR of 20.6% during the forecast period.

    Want to know more about the market scope: 

    Artificial Intelligence (AI) in cybersecurity refers to the use of AI technologies to enhance cybersecurity systems and protect against cyber threats. AI can be used to detect and respond to threats in real-time, automate security tasks, and improve threat intelligence. Machine learning algorithms can analyze large amounts of data and identify patterns of behavior that may indicate a security breach or cyber attack.

    Natural language processing can be used to analyze and categorize threat intelligence reports, making it easier for security teams to identify and respond to potential threats. Additionally, AI can be used to automate security tasks such as patch management and vulnerability scanning. The use of AI in cybersecurity can enhance the effectiveness of security systems, reduce response times, and improve overall security posture. However, it is important to note that AI-powered cybersecurity systems are not a silver bullet and should be used in conjunction with other security measures.

    Key Players

    The major players operating in the global artificial intelligence in cybersecurity market are:

    • NVIDIA Corporation (US)
    • Intel Corporation (US)
    • Xilinx Inc. (US)
    • Samsung Electronics Co. Ltd (South Korea)
    • IBM Corporation (US)
    • Amazon Web Services Inc. (US)
    • Micron Technology Inc. (US)
    • Microsoft (US)
    • Palo Alto Networks Inc. (US)
    • Trellix (US)
    • CrowdStrike (US)
    • NortonLifeLock (US)
    • Cylance Inc. (US)
    • ThreatMetrix Inc. (US)
    • Securonix Inc. (US)
    • Sift Science (US)
    • Acalvio Technologies (US)
    • Darktrace (UK)
    • SparkCognition Inc. (US)
    • Fortinet (US)
    • Check Point Software Technologies Ltd (US)
    • High-Tech Bridge (Switzerland)
    • SentinelOne (US)
    • Feedzai (US)
    • Deep Instinct (US)
    • Vectra Networks (US) Zimperium (US)
    • Argus Cyber Security (Israel)
    • Nozomi Networks (US)
    • BitSight Technologies (US)

    Market Dynamics

    Driver: Growing instances of cyber threats

    The frequency of cyberattacks is on the rise worldwide. These attacks are carried out by cybercriminals who target various IT infrastructure such as endpoints, networks, and data. The consequences of such attacks can lead to significant financial losses for individuals, businesses, and governments. Cybercriminals' motives can vary from political rivalries, financial gain, reputation damage, international competition, to interests of radical religious groups.

    Financial gain appears to be the main reason behind most cyberattacks. Large-scale ransomware attacks like WannaCry, Petya, NotPetya, and BadRabbit have severely impacted government organizations and businesses.

    The 2021 Cisco cybersecurity threat trends report reveals that a significant number of organizations have been targeted by various cyber threats. Specifically, 86% of organizations had at least one user attempting to connect to a phishing site, while 70% of them reported that their users were exposed to malicious browser ads. Additionally, about 69% of organizations faced unsolicited crypto mining, while 50% encountered ransomware-related activities.

    Not only do cyber threats negatively impact the productivity of businesses, but they also pose a serious risk to organizations' critical IT infrastructure and sensitive data. As digital transactions continue to rapidly grow across various industries, the frequency of cybercrimes is also increasing.

    This has led to an upsurge in demand for cybersecurity products and services due to the rise in enterprise data breaches and data leakage incidents. Therefore, it has become crucial for businesses to safeguard themselves against cyber threats to ensure their continued growth and success. In recent times, cyber attackers have become increasingly adept at using sophisticated techniques to launch ransomware attacks with the aim of raising money through small ransoms, often just a few hundred dollars each.

    Furthermore, with the advancement of technology, cyberattacks have become more automated and sophisticated, making them harder to prevent and respond to. As a result, organizations worldwide are increasingly adopting cybersecurity solutions and services to defend against the rising threat of swarm cyberattacks.

    According to Microsoft, the United States was the target of 46% of cyberattacks in 2020, which is more than double the number of attacks targeted at any other country.

    Segment Analysis

    Application security to grow at the second fastest rate during the forecast period.

    The implementation of application security solutions allows enterprises to secure their business-critical applications by providing greater visibility and control. By utilizing existing security solutions, such as IAM, web filtering, and application whitelisting, organizations can safeguard their applications and software codes from both external and internal threats, including web attacks, DDoS attacks, site scraping, and fraud.

    Attackers often target business-sensitive applications as they contain valuable information about an enterprise's critical assets and processes. Unfortunately, many organizations focus primarily on network security and neglect application security, which creates a security gap and makes them vulnerable to attacks.

    Cybersecurity solutions and services play a critical role in preventing attacks on user applications. These solutions and services collect security and event information from all web applications and analyze the data to identify vulnerable or malicious events. By studying the event behavior, these security solutions can effectively protect user applications. This type of security includes both mobile application security and web application security.

    Mobile application security focuses on ensuring the confidentiality of data that is transferred among mobile applications, along with transparency and visibility among business processes. The growing number of mobile devices being used in the workplace is expected to drive the market for application security solutions and services.

    North America to hold the largest share of the AI in cybersecurity market during the forecast period.

    North America, being a technologically advanced region, leads the world in the number of security vendors and cyber incidents. The region is an early adopter of cybersecurity solutions and services, setting an example for other regions across the world. With the increasing number of cyberattacks, governments in the region have identified this as the most significant economic and national security challenge.

    Businesses in North America are at the forefront of adopting advanced technologies and infrastructures such as cloud computing, big data analytics, and IoT. This trend makes them highly susceptible to cyber threats, as the widespread use of technology can increase the risk of attacks. Consequently, the demand for robust cybersecurity solutions and services is higher in this region than in others across the world.

    Cyberattacks are increasing rapidly and becoming more sophisticated, targeting business applications across various industries. Sophisticated cyberattacks include DDoS, ransomware, bot attacks, malware, zero-day attacks, and spear phishing attacks. The growing trends of IoT, Internet of Everything (IoE), Industrial Internet of Things (IIoT), and Bring Your Own Device (BYOD) have triggered a rise in cyberattacks and added more complexities and concerns for enterprises, although they have also brought tremendous growth in the region.

    The rise in threats and vulnerabilities, coupled with government compliance requirements, has made North America the most lucrative market for different categories of vendors.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

    Recent Developments

    • In January 2023, AmiViz, the first enterprise B2B marketplace in the Middle East region, entered into a new partnership with Intel 471, a premier provider of cyber threat intelligence for leading intelligence, security and fraud teams worldwide. Intel 471 is onboarded to the AmiViz B2B Platform and can be accessed by resellers through their mobile app.
    • In September 2022, NVIDIA and Booz Allen Hamilton expanded their partnership to bring AI-enabled cybersecurity to public and private sectors.
    • In July 2022, Darktrace, a cyber security artificial intelligence specialist, launched Darktrace PREVENT, an interconnected set of AI products that provide a proactive cyber security capability to enterprises to pre-empt future cyber-attacks.

    Frequently Asked Questions (FAQs)

    The market is expected to grow at a CAGR of 20.6% during 2023-2029.

    The market size is estimated to grow from USD 17.96 billion in 2022 to USD 66.49 billion by 2029.

    The major players operating in the global Artificial Intelligence in Cybersecurity market are NVIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US), Samsung Electronics Co. Ltd (South Korea), IBM Corporation (US), Amazon Web Services Inc. (US), Micron Technology Inc. (US), Microsoft (US), Palo Alto Networks Inc. (US), Trellix (US), CrowdStrike (US), NortonLifeLock (US), Cylance Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US), Sift Science (US), Acalvio Technologies (US), Darktrace (UK), SparkCognition Inc. (US), Fortinet (US), Check Point Software Technologies Ltd (US), High-Tech Bridge (Switzerland), SentinelOne (US), Feedzai (US), Deep Instinct (US), Vectra Networks (US) Zimperium (US), Argus Cyber Security (Israel), Nozomi Networks (US), BitSight Technologies (US).

    North America to hold the largest share of the AI in cybersecurity market during the forecast period.

    The frequency of cyberattacks is on the rise worldwide. These attacks are carried out by cybercriminals who target various IT infrastructure such as endpoints, networks, and data. The consequences of such attacks can lead to significant financial losses for individuals, businesses, and governments. Cybercriminals' motives can vary from political rivalries, financial gain, reputation damage, international competition, to interests of radical religious groups. Financial gain appears to be the main reason behind most cyberattacks.

    The study period of the market is 2017-2029.