Bharat Book Bureau Provides the Trending Market Research Report on “Artificial Intelligence in Cybersecurity Market by Technology (ML, NLP), Security (Endpoint, Cloud, Network), Application (DLP, UTM, IAM, Antivirus, IDP), Industry (Retail, Government, BFSI, IT, Healthcare), and Region - Global Forecasts to 2029” under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The research report titled, “Artificial Intelligence in Cybersecurity Market by Technology (ML, NLP), Security (Endpoint, Cloud, Network), Application (DLP, UTM, IAM, Antivirus, IDP), Industry (Retail, Government, BFSI, IT, Healthcare), and Geography - Global Forecasts to 2029,” provides in-depth analysis of AI in cybersecurity market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2029.
The Artificial Intelligence in Cybersecurity Market is expected to reach $66.22 billion, at a CAGR of 24.2% during the forecast period of 2022 to 2029
The growth in this market is driven by factors such as the increasing demand for advanced cyber security solutions, the frequency and complexity of cyber threats & services, and the rising demand for AI-based cybersecurity platforms in the banking sector. Furthermore, the growing need for AI-based cybersecurity solutions among small and medium-sized enterprises is creating new growth opportunities for vendors in the AI in the cybersecurity market. However, factors such as the vulnerability issues associated with IoT devices and misconceptions, and a lack of knowledge regarding AI in cybersecurity solutions pose serious challenges to the adoption of AI in cybersecurity solutions, thereby hampering the market’s growth.
The study offers a comprehensive analysis of the global artificial intelligence in the cybersecurity market based on component, technology, security, applications, deployment, industry vertical, and geography. The AI intelligence in cybersecurity market is segmented by component (hardware, software, and services), technology (machine learning, natural language processing, and context-aware computing), security time (application security, endpoint security, cloud security, and network security), application (data loss prevention, unified threat management, encryption, identity & access management, risk & compliance management, antivirus/antimalware, intrusion detection/prevention system, distributed denial of service mitigation, security information & event management, threat intelligence, and fraud detection), deployment mode (on-premises and cloud), end-use industry (retail, government & defense, automotive & transportation, BFSI, manufacturing, infrastructure, IT & telecommunication, healthcare, aerospace, education, and energy), and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on component, the AI in cybersecurity market is segmented into software, hardware, and services. In 2022, the software tools segment is estimated to account for the largest share of the global AI in cybersecurity market. This segment is also projected to register the highest CAGR during the forecast period. The high growth of this market is attributed to the increasing demand for AI platform solutions for security operations and the growing number of data security concerns. In addition, the rising demand for robust and cost-effective security solutions among business enterprises to strengthen their cybersecurity infrastructure is leading to the growth of this segment during the forecast period.
Based on technology, AI in cybersecurity market is segmented into machine learning, natural language processing, and context-aware computing. In 2022, the machine learning segment is estimated to account for the largest share of AI in cybersecurity market. Also, this segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to its increased ability to collect, process, and handle big data from different sources and offer rapid analysis & prediction. Machine learning technology also helps analyse user behaviour, find threats, and respond to active attacks in real-time.
Based on security type, the AI in cybersecurity market is broadly segmented into network security, cloud security, application security, and endpoint security. In 2022, the network security segment is expected to account for the largest share of the AI in cybersecurity market. The high growth of this market is attributed to the rising APTs, malware, and phishing attacks. In addition, the surge in the adoption of the Bring Your Own Device (BYOD) trend during the COVID-19 pandemic, the growing demand for network security solutions, and privacy concerns are expected to drive the growing demand for the network security segment in the coming years.
Based on end-use industry, the AI in cybersecurity market is segmented into BFSI, healthcare, manufacturing, retail, IT & telecommunication, education, energy, automotive & transportation, infrastructure, aerospace, government & defense. In 2022, the IT & telecommunication segment is estimated to account for the largest share of the global AI in cybersecurity market. However, the healthcare segment is slated to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing demand for advanced cybersecurity solutions & privacy concerns, the increase in frequency & complexity of cyber threats, and the growing adoption of IoT & connected devices across the healthcare sector.
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