Artificial Intelligence In Security Market Size, Share, Growth Analysis, By Security Type(Network Security, Endpoint Security), By Deployment(On-Premise, Cloud), By Offering(Hardware, Software), By Service(Professional, Managed), By Technology(Machine Learning, Natural Language Processing (NLP)), By Application(Identity, Access Management), By Vertical(BFSI, Retail) - Industry Forecast 2024-2031

Artificial Intelligence In Security Market size was valued at USD 13.28 billion in 2019 and is poised to grow from USD 16.48 billion in 2023 to USD 93.75 billion by 2031, growing at a CAGR of 24.3% in the forecast period (2024-2031).

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. 'IBM Corporation', 'Amazon Web Services', 'Microsoft Corporation', 'Palo Alto Networks', 'Cisco Systems, Inc.', 'Fortinet, Inc.', 'Check Point Software Technologies Ltd.', 'Symantec Corporation', 'Trend Micro, Inc.', 'RSA Security LLC', 'FireEye, Inc.', 'Splunk Inc.', 'Darktrace Ltd.', 'Cylance Inc.', 'Vectra AI, Inc.', 'F-Secure Corporation', 'LogRhythm, Inc.', 'Acalvio Technologies, Inc.', 'Alert Logic, Inc.', 'Cyberbit Ltd.'

Internet of Things (IoT), rise in cyberattacks, dearth of cybersecurity experts, and growing cyberterrorism are the main reasons propelling this market's expansion.

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.