AI in Cybersecurity Market Size
AI in Cybersecurity market is driven by the escalating sophistication of cyber threats, necessitating advanced AI solutions for threat detection and response.
PORTLAND, OREGON, UNITED STATES, September 14, 2023/EINPresswire.com/ — The Artificial Intelligence in Cybersecurity Market is expected to increase at a CAGR of 23.6% from 2023 to 2032, from a value of $19.2 billion in 2022 to $154.8 billion in 2032.
By ensuring the secrecy of sensitive information, AI in cybersecurity solutions gives enterprises the ability to safeguard their assets from various cyberattacks and enhance customer experience. Additionally, a number of big and small businesses are increasingly using AI cybersecurity solutions to increase the scope of their security offerings.
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Moreover, in the financial sector, AI examines user behavior and transaction data to identify trends that may represent fraud, assisting financial institutions in the detection and prevention of fraud. As this sector deals with the vast amount of sensitive data, which in turn provides lucrative opportunities for the growth of AI in cybersecurity in this sector.
Meanwhile, there is an increasing demand for AI in cybersecurity solutions in the healthcare sector, as AI protects patient information and sensitive medical data from breaches and unauthorized access. These multiple applications offered by AI in cybersecurity solutions in several industries are expected to propel the artificial intelligence in cybersecurity market demand.
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On the basis of deployment mode, the on-premise segment dominated the AI in cybersecurity market in 2022 and is expected to continue this trend during the forecast period. As on-premise deployment mode solutions provides an extra level of security to the organizations. However, the cloud segment is expected to exhibit the highest growth during the forecast period. The growth of the segment of cloud security is mainly driven by the increase in the adoption and susceptibility of wireless networks, as facilities increasingly rely on wireless networks for data transfer.
By region, North America dominated the AI in cybersecurity market size in 2022. Businesses in this area are embracing security solutions at an increasing rate, which in turn are expected to propel the artificial intelligence in cybersecurity market growth. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. The presence of strong government policies regarding privacy and security in this region has been driving the growth of the global market.
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The market players operating in the AI in cybersecurity market analysis are Intel Corporation, IBM Corporation, NVIDIA Corporation, Samsung Electronics Co. Ltd., Amazon Web Services, Inc., Palo Alto Networks, Inc., Microsoft Corporation, Cisco Systems, Inc., Micron Technology Inc., and Gen Digital Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the AI in cybersecurity industry globally.
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