Global AI in cybersecurity market to skyrocket to USD 60.6bn by 2028
05 March 2024by eub2 -- last modified 05 March 2024
The global market for AI in cybersecurity is poised to witness remarkable growth, surging from USD 22.4 billion in 2023 to a staggering USD 60.6 billion by 2028, according to a new report.
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The report sheds light on the exponential growth trajectory of the AI in cybersecurity market and unveils crucial insights into its future landscape.
The unprecedented growth can be attributed to the escalating frequency and sophistication of cyberattacks, compelling enterprises worldwide to seek advanced defense solutions, says the report.
MarketResearchDirect.com has added the research report titled Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Solution, and Service), Security Type, Technology (ML, NLP, Context-Aware and Computer Vision), Application (IAM, DLP, and UTM), Vertical and Region – Global Forecast to 2028 to its catalogue.
The rising demand for advanced defense solutions is a key driver of market growth. The increasing frequency and complexity of cyber threats are driving enterprises to explore innovative cybersecurity solutions, fueling the growth of the AI in cybersecurity market. Additionally, the expanding use of IoT devices across various applications, coupled with the burgeoning volume of data generated, presents lucrative opportunities for AI in cybersecurity solutions.
Furthermore, the growing demand for adaptable security services across businesses is expected to propel market growth, with enterprises prioritizing robust cybersecurity measures. The emergence of visualization tools for security data is also anticipated to provide lucrative growth prospects in the forecast period, enhancing the efficiency of cybersecurity operations.
The report highlights the automotive vertical as projected to hold the largest CAGR during the forecast period, driven by the growing complexity of vehicles and the rise of vulnerable autonomous vehicles. Additionally, Identity & Access Management (IAM) is anticipated to account for the largest market share among applications, propelled by the rising complexity of cyber threats and regulatory compliance mandates.
North America is expected to dominate the market during the forecast period, owing to the region's vulnerabilities to cyber threats and stringent compliance demands. The US, in particular, is projected to lead in market revenue, driven by escalating cyberattacks and the early adoption of cybersecurity solutions.
The report is the result of in-depth interviews with industry experts, including CEOs, innovation directors, and executives, to gather primary data for the report. Major vendors offering AI in cybersecurity solutions and services globally include NVIDIA, Intel, IBM Corporation, Microsoft, and Palo Alto Networks, among others.
The report provides comprehensive coverage of the AI in cybersecurity market, including segments such as offering, security type, technology, application, vertical, and region. It offers valuable insights to market leaders, new entrants, and stakeholders, enabling them to understand the competitive landscape and formulate effective go-to-market strategies.
For more information or to purchase the full report, please visit Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Solution, and Service), Security Type, Technology (ML, NLP, Context-Aware and Computer Vision), Application (IAM, DLP, and UTM), Vertical and Region – Global Forecast to 2028.