The global Artificial Intelligence in the cybersecurity market was valued at US$16.5 billion in 2021 and is expected to reach US$91.7 billion by 2032, finds Future Market Insights in a recent market survey.
As per the report’s findings, it is projected that revenue through the software segment in the AI in the cybersecurity market will grow at 15.8% CAGR during the forecast period.
With the help of AI-based cybersecurity solutions, it is possible to move away from signature-based detection in favour of more flexible and continuous network monitoring as it deviates from expected behaviour.
Businesses use AI to automate cyber defence against spam and phishing and find malware, fraudulent payments, compromised machines, and network infrastructure. The cost-availability nexus is another facet of AI development that adds to the widening range of destructive actors.
North America will see continued revenue growth in AI in the cybersecurity market throughout the analysis period
The market share that North America holds is due to the region’s concentration of key players and several new start-ups, the expansion of government initiatives aimed at advancing technologies such as AI, the use of cloud-based services, increasing sophistication of cyberattacks, and the rise in cyber threats.
With 38.3% of global sales, North America dominated the AI in cybersecurity market ecosystem in 2020.
Businesses such as IBM, Cisco Systems Inc., Dell Root 9B, Check Point Software Technologies Ltd., and Palo Alto Networks, has contributed to the growth.
“Further research and Investment are needed in the field of adversarial AI to better understand the limitations in the robustness of AI platforms for cybersecurity. Hence designing effective strategies to mitigate these vulnerabilities will help companies to better cybersecurity market penetration,” says, analyst, Future Market Insights.
Competitive Landscape
AI in cybersecurity companies are also said to be setting up joint ventures and aiming for acquisition and mergers.
The key companies operating in the Artificial Intelligence in cybersecurity market include:
NVIDIA Corporation, Intel Corporation, Xilinx Inc., Samsung Electronics Co Ltd, Micron Technology Inc., Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, FireEye, Inc., Palo Alto Networks, Inc., Juniper Networks, Inc., Fortinet, Inc., Cisco Systems, Inc., Check Point Software Technologies Ltd., Imperva, McAfee LLC, LogRhythm, Inc., Sophos Ltd., NortonLifeLock Inc., Crowdstrike Holdings, Inc., Darktrace, Cylance Inc., Vectra AI, Inc., ThreatMetrix Inc., Securonix Inc., Sift Science, Acalvio Technologies, SparkCognition Inc., and Symantec Corporation.
Some of the recent developments by key providers of the AI in cybersecurity market are as follows:
- March 2019, The Jetson Nano, a machine that can construct intelligent systems, was unveiled by NVIDIA. Modern AI applications can run on the compact but potent CUDA-X AI computer, which offers 472 GFLOPS computational capability while using as low as 5 watts of power.
- Feb 2019, Cylance unveiled the Cylance native AI platform, which provides customers with automated threat detection, prevention, forensic investigation, and response capabilities. It is done by integrating deep-learning AI algorithms into a single agile agent for comprehensive attack surface protection.