Global Artificial Intelligence (AI) in Cyber Security Market Technology, Advancements and Outlook – Forecast by 2024

The global artificial intelligence (AI) in cyber security market is predicted to grow at 35.0% CAGR during the forecast period (2018–2024) with the market size reaching USD 31.2 billion by 2024. The driving factor for the growth of the market includes the stringent data privacy regulations, increasing adoption of digital solutions, increasing number of cyber-attacks, and increasing inclination towards cloud-based solutions from on-premise.

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Market Segmentation

Insight by Technology

Based on technology, the AI in cybersecurity market is categorized into:

• Natural Language Processing
• Speech Recognition
• Machine Learning
• Image Processing

Of all machine learning technology holds the largest share in the AI in cyber security market, globally. The machine learning technology offers rapid analysis, prediction and processing of data from unlimited number of sources and also helps in analyzing user behavior and interpret them, which makes it’s the most utilized technology for AI in cyber security market.

Insight by Service Type

On the basis of security type, the market is segmented into:

• Identity and Access Security Services
• Network Security Services
• Cloud Security Services
• Data Security Services
• Others

Of all, the AI for cloud cyber security services is predicted to witness the fastest growth during the forecast period. The primary factors responsible for the fastest growth of AI in cyber security services market are the increasing number of or large enterprises using cloud platform for data repository and as servers, which makes it vulnerable to cyber-attacks.

Insight by Application

Based on application, the market is segmented into:

• Firewall
• Distributed Denial of Services
• Anomaly Detection
• Web filtering
• Intrusion Detection
• Data Loss Prevention

The AI in cyber security market size is the largest for anomaly detection due to the increasing number of financial and banking frauds and mounting number of cyber-attacks. Different organizations especially banking and finance organizations require identification of any suspicious activities which might lead to possible fraud or cyber-attack, therefore they implement AI for cyber security to track any intrusion or fraud.

Industry Dynamics

Growth Drivers

Factors that have been acting as the driving factors for the growth of this industry are:

• The stringent data privacy regulations
• Increasing adoption of digital solutions
• Increasing number of cyber-attacks
• Increasing inclination towards cloud-based solutions from on-premise

Challenges

Key factors hindering the growth of the AI in cyber security market are:

• Limitation of security budget against cyber-attacks especially in developing and underdeveloped countries and inefficiency of AI to tackle cyber threats in advance
• Dearth of skilled AI and cyber security professionals for cyber threats in developing and underdeveloped countries

Industry Ecosystem

North America is the largest AI in cybersecurity market as the number of mobile malware attacks are increasing in the country and increasing usage of connected devices in the region. Moreover, in the U.S., a large number of industry players spend a large sum of capital to tackle cybersecurity threats.

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Geographic Overview

• North America — US, and Canada
• Europe — U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
• Asia Pacific — China, India, Australia, South Korea, Indonesia, and Rest of Asia-Pacific
• Latin America — Brazil, Mexico, and Rest of LATAM
• Middle East and Africa — South Africa, Qatar, Saudi Arabia, U.A.E., and Rest of MEA

Geographically, Asia-Pacific is observed to witness the fastest growth for AI solutions in cyber security during the forecast period. Different organizations including larges as well as small enterprises are adopting these technologies to ensure security from cyber-attacks.

Competitive Insight

The Key players in global AI in cybersecurity market are: Check Point Software Technologies Ltd, Juniper Networks, Inc., Amazon, Inc., Intel Corporation, RSA Security LLC, Palo Alto Networks, Inc., Fortinet, Inc., IBM Corporation, Inc., FireEye, Inc., BAE Systems Plc, Cisco Systems Inc., and Symantec Corporation.

About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, and market shares and anticipated new trends & technologies arising across a wide range of industries.

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