Authored By: Sarah
24 Feb 2023

Artificial Intelligence-based Cybersecurity Market Size to Grow by USD 28,285.28 Million at a CAGR of 22.3% Between 2022 and 2027

The artificial intelligence-based cybersecurity market share is expected to grow at a CAGR of 22.3% between 2022 and 2027. The rapid increase in the use of mobile and other connected devices and the implementation of cloud-based services provide a promising ground for the artificial intelligence-based cybersecurity market. 

With the advent of AI, machine learning, and high-end data networks, the sales volume of connected devices, including routers, tablets, and smartwatches, is increasing.  AI risk management plays a critical role in securing the information on these devices. Therefore, the increasing adoption of IoT devices will likely be a major driver for the market during the forecast period.

Browse Technavio's 178-page report and in-depth TOC on "Artificial Intelligence-based Cybersecurity Market by end-user (BFSI, government, ICT, healthcare, and others), deployment (cloud and on-premises), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

View detailed Table of Contents Here: https://www.technavio.com/report/artificial-intelligence-based-cybersecurity-market-industry-analysis

Artificial Intelligence-based Cybersecurity Market Size to Grow by USD 28,285.28 Million at a CAGR of 22.3% Between 2022 and 2027

BFSI segment to be the Fastest-Growing Artificial Intelligence-based Cybersecurity Market Segment 

The artificial intelligence-based cybersecurity market is segmented by end-user (BFSI, government, ICT, healthcare, and others), deployment (cloud and on-premises), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The advent of new technologies has led to an increase in the number of online transactions, thus making data vulnerable to cyberattacks. Thus, it is important to maintain the confidentiality of this data. APAC is estimated to contribute 44% to the growth of the global market during the forecast period. The AI-based cybersecurity market in APAC is expected to grow at the fastest rate compared with other regions, mainly due to the rapid growth in the IT sector, such as ICT, which uses AI-based cybersecurity solutions.

High Cost of Deployment Poses a Significant Challenge 

The high cost of deployment has become a major challenge to the adoption of artificial intelligence-based cybersecurity. The total installation cost includes the cost of software licensing, system designing and customization, implementation, training, and maintenance for an individual organization. The maintenance of on-premises cyber security solutions requires in-house IT administration staff to manage and control issues, which would result in high implementation costs.

Major Artificial Intelligence-based Cybersecurity Market Vendors 

The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.  

Some of the major artificial intelligence-based cybersecurity market vendors are Amazon.com Inc., AO Kaspersky Lab, BlackBerry Ltd., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike Holdings Inc., Dell Technologies Inc., Fortinet Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., LogRhythm Inc., Mahindra and Mahindra Ltd., S.C. BITDEFENDER Srl, Securonix Inc., Vectra AI Inc., Intel Corp., Micron Technology Inc., and NVIDIA Corp. 

amazon.com - The company offers artificial intelligence-based cybersecurity such as AWS Cloud Security.

kaspersky.com- The company offers artificial intelligence-based cybersecurity such as Kaspersky Endpoint Security.

blackberry.com- The company offers artificial intelligence-based cybersecurity such as Cylance AI.

Download the PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.   

Key Data Covered in the Artificial Intelligence-based Cybersecurity Market Report  

  • Precise market size estimation during the forecast period 2023-2027. 

  • CAGR of the artificial intelligence-based cybersecurity market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the artificial intelligence-based cybersecurity market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the artificial intelligence-based cybersecurity market.  

  • Artificial intelligence-based cybersecurity market growth across APAC, North America, Europe, South America, and Middle East and Africa.

Read News Read Less
Interested in this report?
Get your sample now!
Technavio