AI in Cyber Security Market Research Report: By Offering (Hardware, Software, Services), Deployment Type (Cloud, On-Premises), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing), Security Type (Network Security, Data Security, Identity and Access Security, Cloud Security), Application (Identity & Access Management, Risk & Compliance Management, Data Loss Prevention, Unified Threat Management, Security & Vulnerability Management, Antivirus/Antimalware, Fraud Detection/Anti-Fraud, IDS/IPS, Threat Intelligence), End User (BFSI, Retail, IT and Telecom, Healthcare, Manufacturing, Government & Defense, Automotive & Transportation) - Global Industry Analysis and Growth Forecast to 2030
New York, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AI in Cyber Security Market Research Report: By Offering, Deployment Type, Technology, Security Type, Application, End User - Global Industry Analysis and Growth Forecast to 2030" - https://www.reportlinker.com/p05982437/?utm_source=GNW
The number of malicious attacks and cyber frauds have risen considerably across the globe, which can be attributed to the surging penetration on internet and increasing utilization of cloud solutions. Cyber frauds, including payment and identity card thefts, account for more than 55% of all cybercrimes and lead to major losses for organizations, if they are not mitigated. Owing to this, businesses these days are adopting advanced solutions for dealing with cybercrimes in a quick and efficient way.
This is further resulting in the growth of the global AI in cyber security market. AI-based solutions are capable of combating cyber frauds by reducing response time, identifying threats, refining techniques for distinguishing attacks that need immediate attention. The number of cyber-attacks has also been growing because of the surging adoption of the BYOD policy all over the world. It has been observed that the policy aids in increasing productivity and further enhances employee satisfaction.
That being said, it also makes important company information and data vulnerable to cyber-attacks. Devices of employees have wide-ranging capabilities and IT departments are often not able to fully quality, evaluate, and approve each and every devices, which can pose high security threat to confidential data. AI provides advanced protection via the machine learning technology, and hence offers complete endpoint security. The utilization of AI can efficiently aid in mitigating security threats and preventing attacks.
The AI in cyber security market is projected to generate a revenue of $101.8 billion in 2030, increasing from $8.6 billion in 2019, progressing at a 25.7% CAGR during the forecast period (2020–2030). The market is categorized into threat intelligence, fraud detection/anti-fraud, security & vulnerability management, data loss prevention (DLP), identity & access management, intrusion detection/prevention system, antivirus/antimalware, unified threat management, and risk & compliance management, on the basis of application. The DLP category is expected to advance at the fastest pace during the forecast period.
DLP plays a significant role in monitoring, identifying, and protecting the data in storage and in motion over the network. Certain specific data security policies are formulated in each organization and it is mandatory for the IT personnel to strictly follow them. DLP systems are majorly utilized for enforcing data security policies in order to prevent unauthorized usage or access to confidential data. The fraud detection/anti-fraud category accounted for the major share of the market in 2019 and is predicted to dominate the market during the forecast period as well.
Geographically, the AI in cyber security market was led by North America in 2019, as stated by a P&S Intelligence report. A large number of companies are deploying cyber security solutions in the region, owing to the surging number of cyber-attacks. Moreover, the presence of established players and high digitization rate are also leading to the growth of regional domain. The Asia-Pacific region is expected to progress at the fastest pace during the forecast period.
In conclusion, the market is growing due to the increasing number of cybercrimes across the globe and rising adoption of the BYOD policy.
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