The Artificial Intelligence in Cybersecurity Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence in Cybersecurity Global Market Report 2024, The artificial intelligence in cybersecurity market size has grown exponentially in recent years. It will grow from $23.35 billion in 2023 to $28.68 billion in 2024 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to rising cyber threats, automation for threat detection, shortage of cybersecurity talent, advanced persistent threats, data breaches and privacy concerns.
The artificial intelligence in cybersecurity market size is expected to see exponential growth in the next few years. It will grow to $64.59 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to increase in sophistication of malware, ai-enhanced threat hunting, exponential growth of data, zero-day threat protection, integration with security orchestration. Major trends in the forecast period include collaborative threat intelligence, behavioral analytics, threat intelligence automation, adversarial machine learning defense, cloud security integration.
The increasing instances of cyber threats are expected to propel the growth of artificial intelligence in cybersecurity market going forward. A cyber threat is defined as a malicious act intended to steal or damage data or disrupt the digital well-being and stability of an enterprise. Artificial intelligence plays a crucial role in cybersecurity by leveraging advanced algorithms to rapidly detect, analyze, and mitigate evolving cyber threats, enhancing overall threat intelligence and response capabilities. For instance, in November 2022, according to the Annual Cyber Threat Report 2022 by the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in Australia were 76,000 in 2022, representing an increase of nearly 13% from the previous year. Therefore, the increasing instances of cyber threats are driving the growth of artificial intelligence in cybersecurity market.
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The artificial intelligence in cybersecurity market covered in this report is segmented –
1) By Offering: Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing
3) By Deployment Mode: Cloud, On-Premise
4) By Application: Antivirus Or Antimalware, Data Loss Prevention, Fraud Detection Or Anti-Fraud, Identity And Access Management, Intrusion Detection Or Prevention System, Risk And Compliance Management, Security And Vulnerability Management, Threat Intelligence, Other Applications
5) By End-User: BFSI (Banking, Financial Services, And Insurance), Enterprise, Retail, Government And Defense, Manufacturing, Healthcare, Automotive And Transportation, Infrastructure, Other End Users
Major companies operating in the artificial intelligence in cybersecurity market are increasing their focus on introducing technologically advanced solutions, such as AI-powered cybersecurity assistants, to gain a competitive edge in the market. AI-powered cybersecurity assistants are advanced software tools that utilize artificial intelligence algorithms and machine learning techniques to assist cybersecurity professionals. For instance, in March 2023, Microsoft Corporation, a US-based technology company, launched Microsoft Security Copilot, an AI-powered cybersecurity assistant designed to help security professionals detect and respond to threats more effectively. Security Copilot uses generative AI to provide tailored insights and guidance, allowing security teams to defend at machine speed. The tool combines signals and data from various sources, including trillions of daily security signals, to generate specific guidance for security professionals. Security Copilot is designed to work seamlessly with existing security tools, such as Windows Security, Defender XDR, and Intune, to provide the best possible results.
The artificial intelligence in cybersecurity market report table of contents includes:
1. Executive Summary
- Artificial Intelligence in Cybersecurity Market Characteristics
- Artificial Intelligence in Cybersecurity Market Trends And Strategies
- Artificial Intelligence in Cybersecurity Market – Macro Economic Scenario
- Global Artificial Intelligence in Cybersecurity Market Size and Growth
…..
- Global Artificial Intelligence in Cybersecurity Market Competitive Benchmarking
- Global Artificial Intelligence in Cybersecurity Market Competitive Dashboard
- Key Mergers And Acquisitions In The Artificial Intelligence in Cybersecurity Market
- Artificial Intelligence in Cybersecurity Market Future Outlook and Potential Analysis
- Appendix
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