USD 13.28 billion
Report ID: SQSG45D2029 | Region: Global | Published Date: December, 2022 | Pages: 234 | Tables: 207 | Figures: 80
Artificial Intelligence In Security Market size was valued at USD 13.28 billion in 2021 and is poised to grow from USD 16.48 billion in 2022 to USD 93.75 billion by 2030, growing at a CAGR of 24.3% in the forecast period (2023-2030).
In the recent years artificial intelligence has witnessed remarkable advancements. AI is becoming an an essential tool for cutting costs connected with a wide range of activities, including research, manufacturing, automation, monitoring, adaptation, and a large array of other costs. With the aid of Google's search engine, Facebook's facial recognition software, and speech recognition technology, cybercrimes can be studied and identified Artificial intelligence is enhancing cybersecurity tools and are used to combat cybercriminals. It is also designed to react to cyberattacks within milliseconds. The idea is broadly relevant as an anti-fraud strategy, security and vulnerability management, and other areas.
Cyber AI is now in demand because it can provide a proactive defence mechanism with precise detection. For instance, there is a high demand for AI to perform constant user authentication using behavioural biometrics. Industry players should prioritise machine learning algorithms for its advantage to strengthen security intelligence. Furthermore, it is projected that this market would grow in the following years in response to SMEs' growing desire for AI-based cybersecurity solutions.
US Artificial Intelligence In Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.28 billion
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Artificial Intelligence in Security Market is segmented based on the security type, deployment, offering, service, technology, application, vertical, and region. Based on type, the market is segmented into network security, endpoint security, application security and cloud security. Based on deployment, artificial intelligence in security market is bifurcated into on-premise and cloud.
According to offering the market is sub-segmented into hardware, software and services. According to service, market is bifurcated into professional and managed. On the basis of technology, market is segmented as machine learning, natural language processing (NLP) and context-aware computing. According to application, the market is categorized into identity and access management, risk and compliance management, data loss prevention, unified threat management, fraud detection/anti-fraud, threat intelligence and others. According to verticals the market is sub segmented into BFSI, retail, Government & Defense, manufacturing enterprise, healthcare, automotive & transportation and others. Based on Region, the global market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Artificial Intelligence In Security Market Analysis by Security type
The network security segment accounted for the highest market share in 2022. This can be attributed to the increasing importance of artificial intelligence and machine learning algorithms. To defend against and stop cyberattacks, businesses are employing cybersecurity. To increase business efficiency and operations scalability, hardware might be a key growth facilitator. The zero-trust paradigm, which requires all users to be authorised and validated has become increasingly popular.
The popularity of AI-based endpoint security within enterprises for continuous monitoring, risk-based application management, and automated classification is expected to drive significant growth during the projected period. Endpoint security solutions frequently generate and allow list based on well-known software and a refuse list based on well-known malware automatically. Endpoint attacks are becoming more common, therefore behavioural analytics and AI-based real-time authentication may be pursued as the foundation of security solutions. Additionally, the rapid adoption of connected devices has compelled businesses to use AI-powered endpoint security technology to identify suspicious activity and information that may be at danger.
Artificial Intelligence In Security Market Analysis by Technology
The segment of machine learning held the largest market share in 2022. With deep learning becoming increasingly prevalent across end-use sectors, machine learning technology will experience rapid growth. Leading businesses have been employing machine learning for threat identification and email filtering, including Google and IBM. Businesses are leveraging machine intelligence and deep learning to improve cybersecurity procedures. ML systems have grown in prominence as a way to automate monitoring, detect deviation, and sort through the enormous amount of data generated by security technologies.
During the anticipated period, the natural language processing (NLP) segment in the global AI in cybersecurity market may experience significant expansion. Growing popularity of sentiment analysis, natural language inference, text summarization, and question-answering systems are eminent factors for the growth. Additionally, NLP is now frequently used to find data, framework, and standard overlaps as well as security infrastructure weaknesses. Over the coming years, automation and customisation in NLP could advance the field and broaden AI applications in cybersecurity.
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North America held the largest market share in 2022 owing to the exponential growth of IoT, 5G, and Wi-Fi 6 along with an increase in network-connected devices. 5G network expansion is driven by businesses in the automotive, healthcare, government, energy, and mining industries. In 2022, the US held the greatest market share in North America. North America is a pioneer in the adoption of cutting-edge technology like AI because banks, government organisations, and financial institutions. The US encounters difficulties as a result of cyber threats. In order to manage the cybersecurity landscape, cutting-edge technologies are used. Additionally, a number of cybersecurity providers have offices in the US, which has helped the AI in cybersecurity industry to flourish in North America.
Europe is expected to witness a substantial growth rate during the forecast period. This can be attributed to the strong government regulations and an increase in cybercrime cases in the government, healthcare, automobile, IT & telecommunication industries. Stakeholders have anticipated an increased spending by United Kingdom, France, Germany, and Russia to identify threats and unusual activities on their networks, which has prompted the cybersecurity solution providers to expand their AI portfolios.
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Artificial Intelligence In Security Market Driver
Internet of Things (IoT) And Rise in Cybercrimes Are Likely To Influence the Market Growth
Artificial Intelligence In Security Market Restraint
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Global Artificial Intelligence in Security Market is fragmented and very competitive due to an increase in cyberattacks throughout time, a lot of new businesses are emerging with cutting-edge technologies. To maintain a competitive edge and increase their market position in the worldwide artificial intelligence in security market, leading companies are increasingly focusing on implementing tactics such as adopting new technology, product developments, mergers and acquisitions, joint venture, alliances, and partnerships. Major players in market include IBM Corporation, Cisco Systems, Inc, Tech Mahindra Limited, Micron Technology, Inc, Fortinet, Inc. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Artificial Intelligence in Security Market Top Player's Company Profiles
Artificial Intelligence in Security Market Recent Developments
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According to the Global Artificial Intelligence in Security Market analysis report, the demand for security solutions is increasing as a result of the rise in online transactions, a surge in NEFT and RTGS, and mobile transactions. As a result, the banking industry has witnessed a considerable increase in the adoption of security solutions based on artificial intelligence, which has aided in the improvement of financial services. This is likely to contribute to the creation of a significant market opportunity for artificial intelligence in the security market over the coming years.
|Market size value in 2021||USD 13.28 billion|
|Market size value in 2030||USD 16.48 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Artificial Intelligence In Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
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