AI in cybersecurity market projected to reach USD 141.64 billion by 2032
From GlobeNewswire:
The global AI in cybersecurity market size is projected to reach USD 141.64 billion by 2032, with a 24.2% CAGR from 2024 to 2032. AI technology has revolutionized cybersecurity, offering advanced data protection by quickly identifying patterns, automating processes, and detecting anomalies, leading to a surge in demand for AI solutions.
Key companies in the AI in cybersecurity market include Acalvio Technologies, Amazon Web Services, Cylance Inc. (BlackBerry), Darktrace, and more. Revenue forecast for 2032 is USD 141.64 billion, with the market size expected to be USD 25.02 billion in 2024. The market is segmented based on type, offering, technology, application, and region.
Improved security intelligence and technological advancements are driving the growth of the AI in cybersecurity market, with a focus on acquiring AI technologies like natural language processing and machine learning. The market is segmented by type, offering, technology, application, vertical, and region, with North America leading the market in 2023.
The network security segment is experiencing significant growth, fueled by the adoption of ML algorithms for cybersecurity purposes. The fraud detection segment dominates the market, with AI tools being used to prevent fraud, phishing attacks, and identify fake documents. Services segment holds a notable market share, with demand for application program integration and ML algorithms driving growth.
North America leads the AI in cybersecurity market due to the increasing adoption of IoT, 5G, and Wi-Fi 6 technologies, leading to cybersecurity concerns. Sectors like healthcare, automotive, energy, government, and mining are driving the growth of connected devices and 5G networks, emphasizing the need for robust cybersecurity solutions.
Read more at GlobeNewswire: AI in Cybersecurity Market Size Envisaged To Reach USD