Meticulous Research®– a leading global market research company published a research report titled “Artificial Intelligence (AI) in Cybersecurity Market by Technology (ML, NLP), Security (Endpoint, Cloud, Network), Application (DLP, UTM, Encryption, IAM, Antivirus, IDP), Industry (Retail, Government, Automotive, BFSI, IT, Healthcare, Education), Geography – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, Artificial Intelligence in Cybersecurity Market is expected to grow at a CAGR of 23.6% from 2020 to reach $46.3 billion by 2027. The growth in this market is majorly attributed to the factors such as emergence of disruptive digital technologies across different industry verticals, increasing demand for advanced cybersecurity solutions & privacy, and consistent growth in the frequency & complexity of cyber threats. Also, the growing need for cloud-based security solutions among small and medium-sized enterprises and rising adoption of 5G technology is expected to support the growth of this market over the coming years. However, lack of skilled AI professionals and global impact of COVID-19 on the industry vertical obstructs the growth of this market to some extent.
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The global artificial intelligence in cybersecurity market study presents historical market data (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on component (hardware, software, services), technology (machine learning, natural language processing, context-aware computing), security (application security, endpoint security, cloud security, network security), application (data loss prevention, unified threat management, encryption, identity & access management, risk & compliance management, antivirus/antimalware, intrusion detection/prevention system, distributed denial of service mitigation, security information & event management, threat intelligence, fraud detection), deployment (on-premises, cloud), industry verticals (retail, government & defense, automotive & transportation, BFSI, manufacturing, infrastructure, IT & telecommunication, healthcare, aerospace, education, energy), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Scope of the Report:
AI in Cybersecurity Market by Component
- Networking Solutions
- Memory Solutions
- AI Platforms
- AI Solutions
- Deployment & Integration
- Support & Maintenance
AI in Cybersecurity Market by Technology
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
AI in Cybersecurity Market by Security Type
- Application Security
- Endpoint Security
- Cloud Security
- Network Security
AI in Cybersecurity Market by Applications
- Data Loss Prevention
- Unified Threat Management
- Identity and Access Management
- Risk and Compliance Management
- Intrusion Detection/Prevention System
- Distributed Denial of Service (DDoS) Mitigation
- Security Information and Event Management (SIEM)
- Threat Intelligence
- Fraud Detection
AI in Cybersecurity Market by Deployment Type
AI in Cybersecurity Market by Industry Vertical
- Government & Defense
- Automotive & Transportation
- IT & Telecommunication
AI in Cybersecurity Market by Geography:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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Based on component, the software segment is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020. However, the service segment is expected to grow with the fastest growth rate over the coming years. AI in cybersecurity is expected to become more mature in the western part of the world. As a result, professional AI services such as deployment & integration and support & maintenance are expected to gain momentum with the consistent proliferation of AI in cybersecurity.
Based on technology, the Machine Learning technology segment is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020, as well as projected to grow with the fastest CAGR during the forecast period. The large share and rapid growth of this segment is mainly attributed to its capability to collect, process, and handle big data that originated from different sources. This helps in making predictions based on the data, forecast cyber threats, and help in analyzing real-time user behavior patterns to protect the network from potential cyberthreats. Besides, role of machine learning in modern-day healthcare cybersecurity is quite crucial, as this particular end-use vertical is one of the most affected verticals from security breaches and data thefts. Therefore, the growing need for intelligent healthcare cybersecurity is encouraging the fast growth of Machine Learning technology in AI in cybersecurity market.
Based on security, the network security segment is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020, owing to the increasing number of APTs, malware, and phishing attacks. Besides, the factors such as increase in the adoption of the Bring Your Own Device (BYOD) trend, growing demand for network security solutions, and privacy concerns are also expected to drive the growing demand for network security segment in the coming years. On the other hand, the cloud security segment is slated to grow at the fastest CAGR during the forecast period.
Based on application, the identity and access management segment is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020. The large share of the segment is mainly attributed to the growing need for integrity and safety of the confidential information in industry verticals, growing emphasis on compliance management, increasing trend of mobility solutions, and increase in security concerns among organizations. However, the data loss prevention segment is slated to grow at the fastest CAGR during the forecast period.
Based on deployment, the on-premises deployment is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020. However, the cloud-based deployment is slated to grow at the fastest CAGR during the forecast period due to the increasing number of large enterprises using cloud platform for data repository as well as growing demand to reduce the capital investment required to implement cybersecurity solutions. Besides, several organizations are moving operations to the cloud, which has led cybersecurity vendors to develop cloud-based solutions.
Based on industry vertical, the BFSI sector is estimated to account for the largest share of the overall artificial intelligence in cybersecurity market in 2020. However, the manufacturing sector is slated to grow at the fastest CAGR during the forecast period, due to the rising sophistication levels of cyber-attacks, increasing government funding to improve the cybersecurity of the industrial environment, advent of industrial 4.0, rise in the number of malware attacks, and increase in the adoption of IoT devices.
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Geographically, at present, North America region is estimated to account for the largest share of the global artificial intelligence in cybersecurity market in 2020. However, Ai in security market in Asia-Pacific region is expected to witness rapid growth during the forecast period, driven by the factors such as rising consumption of connected devices; growing awareness regarding cybersecurity among organizations; rapid economic development; high adoption of advanced technologies such as IoT, 5G technology, and cloud computing; and rising privacy & security concerns in the region.
Some of the key players operating in the global artificial intelligence in cybersecurity market are Amazon Web Services, Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), FireEye, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Fortinet, Inc. (U.S.), Cisco Sytems, Inc. (U.S.), Micron Technology, Inc. (U.S.), Checkpoint Software Technologies Ltd. (U.S.), Imperva (U.S.), McAfee LLC (U.S.), LogRhythm, Inc. (U.S.), Sophos Ltd. (U.S.), NortonLifeLock Inc. (U.S.), and Crowdstrike Holdings, Inc. (U.S.), among others.
Key questions answered in the report-
- 1. Which are the high growth market segments in terms of component, technology, security, applications, deployment, industry vertical, and countries?
- 2. What was the historical market for artificial intelligence in cybersecurity across the globe?
- 3. What are the market forecasts and estimates for the period 2020-2027?
- 4. What are the major drivers, restraints, opportunities, and trends in the global AI in cybersecurity market?
- 5. Who are the major players and their share in the global artificial intelligence in cybersecurity market?
- 6. How is the competitive landscape in the global artificial intelligence in cybersecurity market?
- 7. What are the recent developments in the global artificial intelligence in cybersecurity market?
- 8. What are the different strategies adopted by the major players in the global AI in cybersecurity market?
- 9. What are the key geographic trends and which are the high growth countries?
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