AI in Cybersecurity Market Size Envisaged To Reach USD 141.64 Billion By 2032, at 24.2% CAGR: Polaris Market Research

The global AI in cybersecurity market size was valued at USD 20.19 billion in 2023 and is anticipated to generate an estimated revenue of USD 141.64 billion by 2032, with a CAGR of 24.2% from 2024 to 2032.

New York, NY, March 12, 2024 (GLOBE NEWSWIRE) — The global AI in cybersecurity market size was valued at USD 20.19 billion in 2023 and is anticipated to generate an estimated revenue of USD 141.64 billion by 2032, with a CAGR of 24.2% from 2024 to 2032.

AI in Cybersecurity Market Overview

Artificial intelligence has transfigured the way IT security professionals contemplate cybersecurity. Contemporary AI-powered cybersecurity instruments and structures have the potential to reinforce offering even superior data safeguarding against theft by swiftly identifying behaviour motifs, automating processes, and finding inconsistencies. The rapidly rising demand for AI in cybersecurity market is attributed to the fact that AI predominantly observes and inspects behaviour motifs. Utilizing these motifs to generate a baseline, AI can find abnormal behaviour and control unsanctioned approaches to systems. AI can also assist in categorizing probabilities and immediately find the prospect of malware and trespassing before they commence.

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AI in Cybersecurity Market Key Companies

  • Acalvio Technologies, Inc.
  • Amazon Web Services, Inc.
  • Cylance Inc. (BlackBerry)
  • Darktrace
  • FireEye, Inc.
  • Fortinet, Inc.
  • IBM Corporation
  • Intel Corporation
  • LexisNexis
  • Micron Technology, Inc.

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Report Attribute Details
Revenue Forecast in 2032 USD 141.64 Billion
Market size value in 2024 USD 25.02 Billion
Expected CAGR Growth 24.2% from 2024 – 2032
Forecast Year 2024 – 2032
Top Market Players
  • Acalvio Technologies, Inc.
  • Amazon Web Services, Inc.
  • Cylance Inc. (BlackBerry)
  • Darktrace
  • FireEye, Inc.
  • Fortinet, Inc.
  • IBM Corporation
  • Intel Corporation
  • LexisNexis
  • Micron Technology, Inc.
Segments Covered By Type, By Offering, By Technology, By Application, By Region
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options

Key Highlights

  • Acquisition of AI technologies, especially natural language processing (NLP) and machine learning (ML), is gaining importance in protecting against, finding, and retorting to cyber menaces, which is pushing toward market expansion.
  • The AI in cybersecurity market segmentation is primarily based on type, offering, technology, application, vertical, and region.
  • North America dominated the market in 2023.

Market Developments

Growth Drivers:

  • Improved security intelligence
  • Technological progressions

Industry Trends:

  • Verification of user identities
  • Wider acquisition of AI technologies

Restraints:

  • Shortage of competent internal staff

Segmentation Overview

  • Network Security Segment Witnessed a Steep Rise

The network security segment witnessed a steep rise based on type. AI in cybersecurity market demand is on the rise due to the extensive acquisition of ML algorithms, and AI businesses are growing depending on cybersecurity estimates to protect against hampered cyber-attacks. The amalgamation of hardware is confident of playing an important part in improving business efficacy and upgrading operations. Particularly, the zero trust model, which entails the permission and validation of all users, has acquired momentum.

  • Fraud Detection Segment Dominated the Market

Based on application, the fraud detection segment dominated the market. The AI in cybersecurity market trends includes ML surfacing as a pragmatic instrument for improving the potential of governments and alternate end users to dissuade deceptive ventures amidst a rise in fraud cases. For instance, in February 2022, figures from the Federal Trade Commission (FTC) specified the acceptance of 2.8 million fraud reports from customers in former years. As an answer, AI instruments are anticipated to become growingly pertinent in prohibiting fraud, diminishing email phishing, and recognizing forged records.

  • Services Segment Held a Notable Market Share

Based on offering, the services segment held a notable market share. The strong demand for application program connection, circumscribing ML algorithms, sensor data, speech, and vision is expected to be a propelling force behind the industry’s augmentation. The software acknowledged for its potential to precisely find unusual ventures is acquiring eminence, particularly with the escalating trend towards hardware performance. Industry contenders are possible to organize progressive cyber security solutions certainly assigning funds towards the advancement and improvisation of the software platform.

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Regional Insights

North America: This region held the largest AI in cybersecurity market share due to notable growth in network-linked gadgets pushed by the inflating acquisition of Internet of Things, 5G, and Wi-Fi 6 technologies. Forms covering several sectors involving healthcare, automotive, energy, government, and mining have been diligently progressing the spread of 5G frameworks. But this boost of linked gadgets and augmentation of 5G networks have surged cybersecurity worries as they display probable entry points for hackers.

Browse the Detail Report “AI in Cybersecurity Market Share, Size, Trends, Industry Analysis Report, By Type (Network Security, Cloud Security, Endpoint Security, Application Security), By Offering, By Technology, By Application, By Vertical, By Region, And Segment Forecasts, 2024 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/ai-in-cybersecurity-market  

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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