AI in Security Market

AI in Security Market- By Security type, Service, Deployment, and End-user industry.

Market Synopsys

Global AI in Security market is valued at USD 6689.51 Million in 2022 and is projected to reach a value of USD 22543.34 Million by 2030 at a CAGR of 16.40% over the forecast period.

Rising hazards faced by the global businesses can be decreased by integration of AI into the cyber security systems which is increasing the demand of AI in Security market during the forecast period. The growing innovations in Artificial Intelligence and Machine learning are the major factors for driving the AI in Security market in the upcoming years. Moreover, AI is highly adopted in various industries and applications in the recent times which is increasing the demand of AI in the years to come. Increasing adoption of Wi-Fi networks which is highly unprotected to security threat, rising variety of mobile malware are also contributing towards the expansion of AI in Security and substantially increasing the demand for AI in various businesses and drives the growth of AI in Security market in the upcoming years. The Ai in Cyber security market is assisting various businesses in reporting, monitoring, opposing and detecting cyber threats to sustain the privacy of data which is which is increasing the demand of AI during the forecast period. Increase in the investments in technology sector like, guidance systems, driverless tractors, GPS sensing system, and motivation of government for using precision farming market during the forecast period. The growth in the adoption of connected devices and computer power technology are driving the AI in Security market growth during the forecast period.

Market Segmentation:

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The AI in Security market is segmented on the basis of Security type, Service, Deployment, and End-user industry. On the basis of Security type, the market is segmented as Network security, Application Security and Cloud Security. By Service the market is segmented as Professional Service, and Managed Services. By Deployment type the market is segmented as On-Premise, and Cloud. On the basis of end-user Industry the market is segmented as Government, BSFI, Manufacturing, Healthcare, automotive and Transport, and other end-user industry.

The BSFI segment acquires the largest market share during the forecast period

Based on the end-user industry, in 2021, the BSFI segment holds the largest share of Artificial Intelligence in the cybersecurity market. The largest share of BSFI sector is primarily attributed to the growing sophistication levels of the cyber-attacks, rise in the number of banking and financial frauds, and hacking and mounting number of cyber attacks in financial and banking services sector. Furthermore, the manufacturing sector is projected to grow at the highest CAGR during the forecast period.

On-Premise segment holds the largest market share during the forecast period

Based on deployment type, in 2021, the on-premise sector is accounted for largest share of the artificial intelligence in the market of cybersecurity during the forecast period. The holding of largest share of this segment is primarily attributed to increasing concerns towards expanding the internal systems, security concerns related to cloud deployment, and growth in the demand for advanced security application software among various industries are driving the AI in Security market growth in the years to come.

North-America region holds the largest share of Ai in Security market during the forecast period

The North America region acquires the largest market share during the forecast period. The motivation of government towards the development of Artificial intelligence technology is the major factor driving the growth of Ai in security market in the years to come. The presence of key players in the region, availability of skilled expertise, and growth in the adoption of AI technology-based solutions like retail, BFSI, manufacturing, and government are some of the other prime factors which are projected to drive the growth of AI in the security market in the upcoming years.

Asia Pacific region is expected to be the fastest-growing market in the AI in Security market during the forecast period. Japan, China, South Korea, and India are the major revenue generator countries in the Asia Pacific region. Moreover, China has invested approximately 48% in the funding of Artificial Intelligence and have started growing skilled expertise in machine learning, and deep learning technology which is driving the growth of the AI in Security in the Asia Pacific region during the forecast period.