According to analysts at Vantage Market Research, Artificial Intelligence in the Security market is expected to reach USD 42.89 Billion by 2028, growing at a CAGR of 30.26% between 2021 and 2028. Increasing use of crypto for payments, rising phishing attempts, increasing use of service models are driving the market for Artificial Intelligence in Security.
- The cloud segment is projected to expand over 24.9% CAGR over the forecast period owing to the rising penetration of the internet connectivity and shift change digitization of the internal systems have been influential in propelling the endorsement of cloud-based services.
- The enterprise segment held a market share of more than 20.6% in 2020. To make sure about the safety of technological innovations and critical infrastructure, enterprises are growing their budgets for cybersecurity significantly, aligning cybersecurity plans with business strategies, and preparing awareness programs about cyber for customers and employees.
- North America is expected to expand at a CAGR of over 26.4% between 2021 and 2028. The AI in the security market globally is intimidated by North America since the region is an early adopter. An early adopter of technologies that are innovative as government agencies, banks, and financial institutes in North America is facing ever-rising challenges related to cyber-attacks. Hence, advanced technologies are equipped to manage the landscape of cybersecurity. Moreover, various cybersecurity vendors are established in this region, therefore contributing to the AI in cybersecurity market growth in North America.
Some of the key players in Artificial Intelligence in the Security market are Skycure, NVIDIA, Micron, IBM, Xilinx, Cylance, ThreatMetrix, Amazon, Securonix, Sift Science, Darktrace, among others. The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.
AI presents many applications and advantages in a range of areas, cybersecurity is one of them. With the rapid multiplication of equipment and fast-evolving cyber-attacks happening today, machine learning and AI can help to keep in line with automated threat detection, cybercriminals, and respond effectively than traditional manual techniques or software-driven ones. AI can also be used to spot malicious activities and cyber threats. Conventional software systems cannot simply keep up with the number of new ransomware created every day, therefore this is an area where AI can really help with. Using practical algorithms, Artificial Intelligence systems are being schooled to detect ransomware, detect even the slightest behavior of ransomware or malware attacks before it enters the system, and run pattern recognition.
Asia Pacific is poised to record a substantial CAGR, enterprises from sectors, such as energy, finance, telecom, and technology, in the Asia Pacific, are targets of persistent advanced threat actors. Generally, attacks are ubiquitous amongst Southeast Asian countries.