NEW DELHI, May 26, 2023 (Globe Newswire) — Global artificial intelligence (AI) in the cybersecurity market is flourishing due to increasing use of social media in business functions and increasing demand for advanced cybersecurity solutions and privacy.
BlueWeave Consulting, a leading strategy consulting and market research firm, estimated in a recent study that the global artificial intelligence (AI) market in cybersecurity will be worth US$20.26 billion in 2022. BlueWeave estimates that during the forecast period 2023-2029, the global artificial intelligence (AI) market size will grow to Artificial Intelligence (AI) in the Cybersecurity Market The major growth drivers of the global Artificial Intelligence (AI) in the cybersecurity market are the increasing demand for advanced security solutions, the increasing number of cyberattacks, and the increasing sophistication of cybercrime. Cyber AI is in high demand today as it can provide proactive defense mechanisms through accurate detection. For example, there is a high demand for AI that uses behavioral biometrics to perform user authentication at all times. Industry players should prioritize machine learning (ML) algorithms to harness the power of AI to enhance security intelligence. Also, growing privacy concerns, the importance of AI-based cybersecurity solutions in the banking sector, and the frequency and complexity of cyber threats drove the growth of global artificial intelligence (AI) in the cybersecurity market during the analysis period. expected to be promoted. However, the requirement for advanced empirical data is expected to restrain the growth of the overall market.
Global Artificial Intelligence (AI) in Cybersecurity Market – An Overview
Artificial intelligence (AI) in cybersecurity refers to the application of AI-based technologies to enhance the security of computer systems, networks, and data from cyber threats such as malware, phishing, hacking, and insider threats. AI is used in cybersecurity to automate and improve various security processes such as threat detection, incident response, and vulnerability assessment. AI-based systems use machine learning (ML) algorithms to analyze large amounts of data from a variety of sources, including network logs, security events, and user behavior, to identify patterns and potential threats .
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Impact of the novel coronavirus disease (COVID-19) Global artificial intelligence (AI) in the cybersecurity market
The COVID-19 pandemic has had a double impact on the global artificial intelligence (AI) in the cybersecurity market. While the pandemic has brought economic uncertainty and disruption across industries, it has also highlighted the importance of cybersecurity as more businesses and individuals shift to remote work and digital communications. As businesses and individuals have become more dependent on technology during the pandemic, the demand for cybersecurity solutions has increased. This has led to increased investment in AI-based cybersecurity solutions that can provide real-time threat detection and response capabilities. The pandemic has also highlighted the need for automation in cybersecurity as security teams have been forced to work remotely and deal with a higher volume of security incidents. AI-based cybersecurity solutions automate mundane security tasks, freeing security teams to focus on more complex tasks.
See press release: https://www.blueweaveconsulting.com/press-release/global-artificial-intelligence-ai-in-cybersecurity-market-size-zooming-more-than-3-5x-to-cross-usd-79-2- 1 billion by 2029
Global artificial intelligence (AI) in the cybersecurity market – by technology
By technology, the global artificial intelligence (AI) market is segmented into machine learning (ML), natural language processing (NLP), and context-aware computing. The machine learning (ML) segment took the lead. ML technology will grow rapidly as deep learning becomes more prevalent across end-use fields. Leading companies such as Google and IBM use ML for threat detection and email filtering. Companies are leveraging machine intelligence and deep learning to improve cybersecurity procedures. During the analysis period, the natural language processing (NLP) segment is likely to drive the growth of global AI in cybersecurity market. The growing popularity of sentiment analysis, natural language reasoning, text summarization, and question answering systems are the main drivers of this rise.
competitive environment
Major players operating in the global artificial intelligence (AI) in cybersecurity market include Acalvio Technologies Inc., Amazon Web Services, Inc., Cylance Inc. (BlackBerry), Darktrace, FireEye, Inc., Fortinet, Inc., Includes IBM Corporation, Intel. Corporation, LexisNexis, Micron Technology, Inc., Palo Alto Networks Inc., Trellix, CrowdStrike, NortonLifeLock, ThreatMetrix, Securonix Inc., and Microsoft. To further increase their market share, these companies are adopting various strategies such as mergers and acquisitions, partnerships, joint ventures, licensing agreements, and new product launches.
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A detailed analysis of the report provides information on the growth potential, future trends, and global artificial intelligence (AI) in cybersecurity market statistics. It also highlights the factors that influence the forecast of the size of the overall market. This report promises to provide the latest technological trends in global artificial intelligence (AI) in the cybersecurity market along with industry insights to help decision makers make sound strategic decisions. In addition, the report also analyzes market growth drivers, challenges, and competitive dynamics.
Recent developments
- September 2022 – NVIDIA announced the launch of NVIDIA IGX, a precision edge Al platform to deliver advanced security and proactive safety to critical industries such as manufacturing, logistics and healthcare.
Report scope
| attribute | detail |
| years considered | Historical Data – 2019-2022 |
| Base Year – 2022 | |
| Estimated year – 2023 | |
| Forecast period – 2023-2029 | |
| facts raised | Revenue (USD Billion) |
| Market range | North America, Europe, Asia Pacific, Latin America, Middle East, Africa |
| Product/service segmentation | Type, Offering, Technology, Application, Industry, Region |
| key player | Acalvio Technologies Inc., Amazon Web Services, Inc., Cylance Inc. (BlackBerry), Darktrace, FireEye, Inc., Fortinet, Inc., IBM Corporation, Intel Corporation, LexisNexis, Micron Technology, Inc., Palo Alto Networks Inc. , Trellix, CrowdStrike, NortonLifeLock, ThreatMetrix, Securonix Inc., Microsoft |
By type
- network security
- Endpoint security
- Providing security
- cloud security
by offer
- hardware
- software
- service
By technology
- Machine learning (ML)
- Natural Language Processing (NLP)
- context-aware computing
By use
- Identity and access management
- Risk and compliance management
- Data loss prevention
- Unified threat management
- Fraud detection/anti-fraud
- threat intelligence
- others
By Industry
- BFSIMore
- retail
- government and defense
- manufacturing industry
- enterprise
- health care
- automobiles and transportation
By region
- North America
- Europe
- Asia Pacific (APAC)
- Latin America (LATAM)
- Middle East and Africa (MEA)
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