AI in Cyber Security Market Analysis by Latest Trends, Demand, Key Companies, Sales Data, Recent Developments, Emerging Technologies

To mitigate such unprecedented instances and reduce financial and data loss incurred due to cybercrimes, end users are opting for AI-based cyber security solutions. Owing to this reason, the AI in cyber security market will accelerate at a healthy CAGR of 25.7% during 2020–2030. According to P&S Intelligence, the market revenue will surge from $8.6 billion in 2019 to $101.8 billion in 2030. 

Cyber frauds, such as payment card and identity thefts, result in huge data and financial losses, which can be combated through AI-driven solutions as they assist in identifying threats, refining techniques to classify the intensity of threats, and reducing response time. Geographically, North America dominated the AI in cyber security market in the preceding years due to the increasing deployment of cyber security solutions, owing to the rising incidence of cyberattacks in the region.

The increasing cases of cybercrimes, such as ransomware, is resulting in huge financial losses and interrupting operations. Moreover, the accelerating digitization rate, owing to the presence of a large number of companies offering solutions, and the existence of leading AI solution providers will also encourage the adoption of AI-enabled cyber security solutions in the region.

Whereas, the Asia-Pacific (APAC) region is expected to adopt AI-based cyber security solutions at the highest rate in the forthcoming years, owing to the surging incidence of cybercrimes, such as data breaches, identity thefts, and financial frauds, in the region. To mitigate cyberattack incidents and deal with the grave consequences of such crimes, enterprises across the region are increasing their security expenditure. Additionally, the governments of APAC nations are also investing heavily in cyber security to deal with advanced threats.

AI-based cyber security solutions offered by BAE Systems Plc, Juniper Networks Inc., RSA Security LLC, NVIDIA Corporation, IBM Corporation, Check Point Software Technologies Ltd., Palo Alto Networks Inc., Acalvio Technologies, Fortinet Inc., FireEye Inc., and Cylance Inc. are used by end users for data, network, identity and access, and cloud security. Businesses use such solutions in unified threat management (UTM), identity and access management (IAM), data loss prevention (DLP), intrusion detection/prevention system (IDS/IPS), risk and compliance management, security and vulnerability management, threat intelligence, antivirus/antimalware, and fraud detection/anti-fraud applications.

Therefore, the increasing proliferation of BYOD policy, rising use of IoT-enabled devices, and soaring number of cyberattack cases are expected to boost the adoption of AI-driven cyber security solutions.

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