Artificial Intelligence (AI) In Cyber Security Market-By Offering (Hardware, Software, And Services), By Security (Endpoint, Network, Cloud, And Application), By Technology (Machine Learning, Context Awareness, And NLP (Neuro-Linguistic Programming)), By Security Solution (Identity & Access Management, Antivirus/Antimalware, Risk & Compliance Management, Encryption, Intrusion Detection/Prevention Systems, Data Loss Prevention, Unified Threat Management, And Others), By End-User (BFSI (Ban

AI in Cyber Security Market size accounted 10.75 billion in 2020 is estimated to reach 100.1 billion by 2030 growing with a CAGR of 25% during the forecast period.Demand for artificial intelligence is growing considerably, and cyber security is one among them. Artificial intelligence in cyber security decreases the workload of cyber security engineers, as it handles highly complicated situations that cannot be accurately resolved by humans. Organizations are forced to employ high security technologies such as artificial intelligence owing to the constantly increasing cyber-attacks. Small and medium enterprises are more vulnerable to cyber-attacks than large enterprises due to the lack of strong and secure infrastructure. AI in cyber security is estimated to witness a significant growth in the forecasted period attributed to the increasing utilization of security solutions and services by organizations. According to the research study by Consumer Technology Association, 44% of global organizations are implementing the artificial intelligence to encounter the cyber-attacks.

Market Segmentation:

On the basis of component, global AI in cyber security market is classified as hardware, software, and services. Based on security, market is categorized into endpoint, network, cloud, and application. Based on technology, AI in cyber security market is divided into machine learning, context awareness, and NLP (Nuero-linguistic programming). On the basis of security solution, market is segmented into identity & access management, antivirus/antimalware, risk & compliance management, encryption, intrusion detection/prevention systems, data loss prevention, unified threat management, and others. Based on end-user market is grouped into BFSI (banking, financial services and insurance), government & defense, retail, enterprises, manufacturing, healthcare, infrastructure, automotive & transportation, and others. Based on region AI in cyber security market is classified into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Increase in the adoption of Internet of Things and connected devices concurrently increased the chances of cyber-attacks. According to the research study, cyber-attack reported in 2016 was 82,000 and it reached 159,700 in 2017. Growing number of cyber-crimes faced by the organizations forced them to adopt AI in cyber security thereby fostering the market progression. Identity and payment card theft is one of the common attacks encountered by large enterprises and these crimes when left unresolved can lead to huge financial losses. AI in cyber security market is majorly focusing on cyber threats by early threat detection, reducing response time, and partition of threat by priority. AI solutions offer wider security coupled with complete recognition and solution for cyber-attacks, when compared to human potential. Therefore, rising cyber security threats majorly drive the AI in cyber security market growth. However, inadequacy in technical expertise for artificial intelligence implementation hampers the AI in cyber security industry development. According to the research study by Tencent Holdings, approximately 300,000 professionals around the globe possess the required expertise in AI applications. Escalating demand for cloud based security systems among SME’s and rising awareness regarding cyber threats is anticipated to propel the AI in cyber security market growth in coming years. Approximately 88% of businesses are estimated to increase their expense on cyber security in the next two years and around 10% companies are expected to double the cyber security budgets.

Geographic Analysis:

Owing to the presence of major key players such as IBM (International business machine) Corporation, Intel Corporation and Cisco System North America is dominating in the AI in cyber security market. Due to the increasing cyber threat among the banking, government, and financial sectors coupled with the awareness regarding the security threats in North America, helps this region to attain the top position in the market.

Competitive Scenario:

Some of the major key players in AI in cyber security market are IBM Corporation, Cisco System, Intel Corporation, Amazon Web Services, Inc., Cylance Inc., Acalvio Technologies, Inc., Nvidia Corporation, Xilinx, Inc., Micron Technology, Inc., Darktrace, Cylance Inc., Vectra AI, Inc, Securonix, Inc, Symantec Corporation, and SparkCognition Inc.

Artificial Intelligence (AI) In Cyber Security Market Report Scope