Artificial Intelligence-based Cybersecurity Market Size to grow by USD 28.29 billion between 2023-2027
According to a research report “ Artificial Intelligence-based Cybersecurity Market” by End-user (BFSI, Government, ICT, Healthcare, Others) Deployment (Cloud, On-premises) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 28.29 billion, at a CAGR of over 22.3% during the forecast period. In today's business landscape, the proliferation of Internet of Things (IoT) devices, such as routers, tablets, and smartwatches, has led to an exponential increase in connected devices. However, these devices often lack robust security systems, making them susceptible to cyberattacks. Hackers can exploit vulnerabilities to gain unauthorized access to usernames, passwords, and other sensitive information. Given the vast amounts of unstructured data generated by IoT devices, implementing Artificial Intelligence (AI) risk management solutions becomes crucial. By integrating AI-based cybersecurity into IoT devices, businesses can receive advanced threat notifications, enabling them to take proactive measures against potential attacks and safeguard their data.
Browse market data tables, figures, and in-depth TOC on “Artificial Intelligence-based Cybersecurity Market” by End-user (BFSI, Government, ICT, Healthcare, Others) Deployment (Cloud, On-premises) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample
By End-user, the BFSI segment is projected to dominate the market size in 2024
In the dynamic business landscape of 2022, cloud-based Artificial Intelligence (AI) cybersecurity solutions have gained significant traction due to their cost-effectiveness and ease of deployment. Unlike traditional on-premises solutions, cloud AI cybersecurity does not necessitate the installation of hardware and software on company premises. Instead, it is hosted at the vendor's data center and accessed via a subscription model. Enterprises pay a monthly fee per device, which covers maintenance and system upgrades. This model is particularly advantageous for Small and Medium Enterprises (SMEs), enabling them to streamline and automate cybersecurity operations, minimize errors, and reduce costs. Furthermore, the deployment of cloud AI cybersecurity is faster and less complex than on-premises solutions, making it an attractive choice for businesses seeking to enhance their cybersecurity posture in a cost-efficient and time-saving manner.
By Deployment, Cloud segment is expected to hold the largest market size for the year 2024
In the financial services sector, safeguarding customer information is paramount. With the rise of digital transactions, the risk of cyberattacks has escalated, making data security a top priority. In response, BFSI organizations are investing significantly in advanced Artificial Intelligence (AI) cybersecurity solutions. These technologies enable early threat detection and identification, enhancing overall security. Furthermore, regulatory requirements, such as the Sarbanes-Oxley Act, necessitate robust cybersecurity measures to prevent data breaches and theft. This trend is projected to drive the adoption of AI-based cybersecurity solutions within the BFSI sector.
APAC is forecasted to hold the largest market size by region in 2024
The Artificial Intelligence (AI) cybersecurity market in the Asia Pacific (APAC) region is projected to expand at an unprecedented rate, surpassing other global markets. This growth is primarily driven by the burgeoning Information and Communication Technology (ICT) sector, which increasingly employs AI-based cybersecurity solutions to fortify their systems. Key contributors to this market expansion in APAC include China, Japan, and South Korea. China, with its burgeoning startup ecosystem, supportive government initiatives, and expanding government and financial services sectors, is the most significant market for AI-based cybersecurity providers. With a population of nearly 1.4 billion people, representing approximately 18% of the world's population, China's demand for advanced IT systems and urbanization necessitates robust cybersecurity solutions.
The Artificial Intelligence-based Cybersecurity Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Artificial Intelligence (AI) and Machine Learning (ML) based Cybersecurity Market is witnessing an alarming growth due to the increasing number of cyberattacks. According to recent statistics, cybercrime costs the world over USD600 billion annually, and this number is expected to reach USD10.5 trillion by 2025. To combat these threats, organizations are investing in real-time security solutions that leverage advanced technologies like AI, ML, and Deep Learning (DL). Digital transformation initiatives and automation trends are driving the demand for AI-based cybersecurity. ML algorithms, such as behavioral biometrics, are used to analyze user behavior and detect anomalies, enhancing cybersecurity processes. The Services segment of the market is expected to grow at a CAGR of 22.3% during the forecast period. The Endpoint security and Network security segments are the largest contributors to the market. Cloud solutions, Zero-trust architecture, and ML technology are key trends in the market. The Fintech sector is a significant adopter of Cyber AI, as it deals with sensitive financial data. AI and ML technologies are revolutionizing cybersecurity operations by automating threat detection and response. ML algorithms analyze vast amounts of data to identify patterns and threats, enabling proactive security measures. With the increasing adoption of AI and ML in cybersecurity, the market is poised for significant growth.
Market Research Overview
Artificial Intelligence (AI) is revolutionizing the cybersecurity landscape as organizations grapple with evolving cyber threats and increasing security incidents that put sensitive information at risk. DLP solutions infused with AI capabilities are becoming essential for companies to prevent unauthorized access, insider threats, and data loss. Predictive analysis and behavioural analysis, powered by advanced algorithms, enable continuous monitoring, anomaly detection, and automated incident response. AI-driven threat intelligence, secure user authentication with behavioural biometrics, and risk management are also key areas of AI-driven advancements in cybersecurity. The verticals most affected by cyber threats, such as MDIS, EtherCAT, MTConnect, and IT systems in the IoT, are investing heavily in AI-based security solutions to protect digital assets and electronic devices from ransomware-related activities, crypto mining, malicious browser ads, and phishing attempts. Government organizations and large-scale enterprises are particularly vulnerable to cyberattacks, with damaging reputation, financial gain, and political rivalry being the primary motivators. Alarming statistics show that real-time security solutions are crucial for digital transformation initiatives and technological advancements, including cloud solutions, ML, and Deep Learning (DL). The Services segment, including Endpoint security, Network security, and Zero-trust architecture, is expected to grow significantly as organizations prioritize cybersecurity processes and security operations. The Fintech sector, with its vast amounts of financial data, is a prime target for cybercriminals. ML algorithms, such as Behavioral biometrics and Cyber AI, are being used to detect and respond to threats in real-time. The ML technology market is projected to grow significantly, with AI and Deep Learning (DL) being key drivers. The Cloud Security segment is also expected to see significant growth as organizations move towards cloud-based solutions for data storage and processing. In conclusion, AI is transforming the cybersecurity industry, enabling organizations to detect and respond to cyber threats more effectively and efficiently. From DLP solutions and threat intelligence to behavioural biometrics and risk management, AI is helping organizations protect their digital and physical assets from insider and external threats. With the increasing number of cyberattacks and the growing importance of data, AI-driven cybersecurity solutions are becoming essential for businesses and governments alike.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
