Artificial Intelligence in Cybersecurity Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The Global Artificial Intelligence (AI) in Cybersecurity Market size accounted for USD 14.9 Billion in 2021 and is estimated to reach the market value of USD 133.8 Billion by 2030.

The surging demand for advanced cybersecurity solutions is the leading artificial intelligence in cybersecurity market trend that is fueling the industry demand. On the other hand, our artificial intelligence in cybersecurity industry analysis suggests that the industry is also driven by the emergence of disruptive digital technologies across numerous industry verticals. As a result, the artificial intelligence in cybersecurity market forecast the CAGR to grow by 27.8% from 2022 to 2030.

One of the most important concepts in cybersecurity is artificial intelligence. The idea behind AI in cybersecurity is to use AI-enabled software to augment human expertise by rapidly identifying new types of malware traffic or hacking attempts. Because of recent advances in computing power, AI in cybersecurity is now becoming a reality with comparatively small datasets. It aids in subsequent processes that use standard CPUs or GPUs.This means that Artificial Intelligence in cybersecurity no longer requires large structures of high-end servers with expensive processors to function – something that was critical just a few years ago.

Artificial Intelligence in Cybersecurity Market Dynamics

Artificial Intelligence in Cybersecurity Market Growth Drivers:

• Surging use of social media for business operations
• Growing government investments in AI adoption
• Technological advancements in security systems to combat increasing cyberattacks

Artificial Intelligence in Cybersecurity Market Restraints:

• Lack of skilled AI professionals & awareness regarding AI in cyber security
• Limited security budget against cyberattacks

Artificial Intelligence in Cybersecurity Market Opportunities:

• Growing demand for cloud-based security solutions among SMEs
• Increasing use of social media for business purpose

Report Coverage

The rapid growth in cyber attacks is the primary aspect that is supporting the worldwide artificial intelligence in cybersecurity market revenue. As cyber criminals' incredibly advanced tactics continue to disrupt organizations, cybersecurity is becoming a widespread problem for businesses of all sizes. The problem that organizations are facing has been exacerbated by the use of remote workforces, the surging cybersecurity skills gap, and the proliferation of linked and internet of things (IoT) devices that are especially vulnerable to cyber-attacks. The ongoing COVID-19 pandemic is also having a significant impact on cybersecurity. According to a recent study, online scams increased by more than 400% in March 2020 compared to previous months, while Google revealed that it was stopping over 18 million malware and phishing attempts related to COVID-19 every day. Additionally, data breaches resulted in 36 billion records being exposed in the first three quarters of 2020. Moreover, the use of malware increased by 358% through 2020, and ransomware usage increased by 435% compared to the previous year.

As a result, technological advancements in security systems to combat cyber-attacks are gaining significant traction during the forecast timeframe. However, the lack of skilled AI professionals & awareness regarding AI in cyber security is acting as one of the major constraints for the market growth. Currently, organizations tend to struggle cybersecurity awareness and use poor practices, resulting in unprotected data that is vulnerable to theft and cyberattacks. Furthermore, the rising use of social media for business functions and increasing government investments in the adoption of artificial intelligence are some of the aspects that are creating growth opportunities for the market in the coming future.

Artificial Intelligence in Cybersecurity Market Segmentation

The global artificial intelligence in cybersecurity market segmentation is based on offering, technology, deployment model, security type, application, end-user, and region.

Market by Offering

• Software
• Services

Based on our analysis, the software segment is anticipated to witness the fastest growth rate throughout the forecast timeframe 2022 – 2030. This is primarily due to the rapid expansion of AI platforms software for security operations, the rapidly increasing data security concerns, and the growing demand among business enterprises for robust and cost-effective security solutions to strengthen their cybersecurity infrastructure. Typical AI cybersecurity software offerings include a variety of AI-based network monitoring features and options, such as application programme interfaces (API) for language, vision, speech, and sensor data, as well as machine learning (ML) algorithms.

Market by Technology

• Machine Learning
• Natural Language Processing
• Context-Aware Computing

Among technologies, machine learning accumulated a considerable amount of share in 2021. The ability of machine learning to collect and handle large amounts of data, as well as its increased capacity to perform completely unimaginable calculations, is fueling the growth of the machine learning market. Furthermore, various advantages such as faster prediction, analysis, and processing of information from an infinite number of sources that allow organizations to study and interpret user behavior are supporting the machine learning share in the years ahead.

Market by Deployment Model

• Cloud
• On-Premise

In 2021, the cloud-based deployment model segment gathered the maximum market share due to the burgeoning need for cloud-based security solutions among SMEs. The cloud-based platform provides a centralized way for organizations to secure web and mobile applications and networks all through the development, production, and implementation stages. Furthermore, as more organizations move to the cloud computing realm, AI in cybersecurity that operates within these environments will begin to take over a larger share of the AI in cybersecurity market.

Artificial Intelligence in Cybersecurity Market, By Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security

The security type segment is expected to achieve a substantial market share in 2021, in security type. The market for application security is expanding as more organizations begin to use a large number of applications for business operations that must be protected from threats and vulnerabilities. Meanwhile, the demand for artificial intelligence in cloud security is expected to grow the fastest between 2022 and 2030. It is primarily due to the growing number of major enterprises utilizing cloud platforms for data storage, which exposes them to significant cyber threats.

Artificial Intelligence in Cybersecurity Market By Application

• Antivirus/Antimalware
• Data Loss Prevention
• Fraud Detection/Anti-Fraud
• Identity & Access Management
• Intrusion Detection/Prevention System
• Risk & Compliance Management
• Security & Vulnerability Management
• Threat Intelligence
• Unified Threat Management
• Other Applications (DDoS mitigation, firewall, disaster recovery, application whitelisting, web filtering, and patch management)

By application, antivirus/antimalware accounted for a noteworthy market share during the forecast period. Cybersecurity is becoming a key concern for business executives and consumers, who are increasingly being targeted by phishing scams and hackers trying to access sensitive information. As a result, artificial intelligence and machine learning algorithms are necessary to counter-attack such antivirus software and anti-malware. According to a 2020 study, 70% of attacks were caused by outsiders, 45% by hacking, 86% by financial motivation, 17% by malware, and 22% by phishing or social engineering.

Market by End-User

• BFSI
• Enterprise
• Retail
• Government & Defense
• Manufacturing
• Healthcare
• Automotive & Transportation
• Infrastructure
• Other (Oil & Gas, Education, and Energy)

Enterprise is considered to be one of the opportunistic sectors where AI in cybersecurity demand is rapidly growing. However, the BFSI segment is also expected to generate considerable revenue in the coming future. The growing sophistication of cyber-attacks, the increasing amount of financial & banking frauds & hacking and the rising number of cyber-attacks in the banking and financing services sector all contribute to this segment's size.

Artificial Intelligence in Cybersecurity Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa