NEW YORK, May 21, 2019 /PRNewswire/ --
AI in cybersecurity to grow at CAGR of 23.3% from 2019 to
2026
The AI in cybersecurity market is projected to reach USD 38.2 billion by 2026 from USD 8.8 billion in 2019, at the highest CAGR of
23.3%. Major drivers for the market's growth are growing adoption
of IoT and increasing number of connected devices, rising instances
of cyber threat, growing concerns of data protection, and
increasing vulnerability of Wi-Fi networks to security threats.
Furthermore, underlying opportunities for the AI in cybersecurity
market include growing need for cloud-based security solutions
among SMEs and increased use of social media for business
functions. Major restraints for the market are the inability of AI
to stop zero-day and advanced threats, and rise in insider cyber
threats. Limited number of cybersecurity and AI professionals, and
lack of interoperability with existing information systems pose
major challenges to the AI in cybersecurity market.
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Software segment to hold largest share of AI in cybersecurity
market during forecast period
Software holds a major share of the overall AI in cybersecurity
market owing to developments in AI software and related software
development kits.AI systems require different types of software,
including application program interfaces, such as language, speech,
vision, and sensor data, along with machine learning algorithms, to
realize the applications for cybersecurity.
The software platforms and solutions are available at higher costs
as there are only a limited number of experts that develop machine
learning algorithms. Companies such as Darktrace (UK), Cylance
(US), Securonix (US), and IBM (US) are among the frontrunners in
the development of software for the AI in cybersecurity market.
Among all applications, market for risk and compliance to hold
largest share of AI in cybersecurity market from 2019 to
2026
Risk and compliance is the major application in the AI in
cybersecurity market and is, therefore, expected to hold large
market share during the forecast period.With the latest development
of AI-enabled risk and compliance management solution, along with
its higher adoption rate among end users, the deployment of this
solution has become an integral part of companies to manage their
performance effectively.
It allows organizations to achieve their desired goals by
automating workflows while complying with policy guidelines and
government regulations, thereby reducing financial risks as well as
safeguarding the company's brand image.
The AI in cybersecurity market in APAC to grow at highest CAGR
during forecast period.
APAC is expected to be the largest AI in cybersecurity market
during the forecast period.This market is further divided into
China, Japan, South
Korea, India, and the Rest
of APAC.
The Rest of APAC includes Singapore, Malaysia, Thailand, Australia, and New Zealand.China is the
largest market among all APAC countries.
China, Japan, South
Korea, and India are
witnessing growth in the AI in cybersecurity and its start-ups.SMEs
and large enterprises in this region are rapidly adopting
cybersecurity solutions to ensure security of their networks, web,
and mobile applications.
High adoption of advanced technologies, such as IoT, Big Data
analytics, and cloud computing, and rising concerns about data
security in the region are expected to drive the growth of the AI
in cybersecurity market in APAC.
Breakdown of primary participants' profile:
• By Company Type: Tier 1 = 30%, Tier 2 = 30%, and Tier 3 = 40%
• By Designation: C-Level Executives = 45%, Directors = 30%, and
Others = 25%
• By Region: North America = 30%,
Europe = 40%, APAC = 25%, and RoW
= 5%
NVIDIA Corporation (US), Intel Corporation (US), Xilinx Inc. (US),
Samsung Electronics Co., Ltd (South
Korea), Micron Technology, Inc. (US), IBM Corporation (US),
Amazon Web Services, Inc. (US), Darktrace (UK), Cylance Inc. (US),
Vectra AI, Inc. (US), ThreatMetrix Inc. (US), Securonix Inc. (US),
Sift Science (US), Acalvio Technologies (US), SparkCognition Inc.
(US), Palo Alto Networks Inc. (US), and Symantec Corporation (US)
are a few major players in the AI in cybersecurity market.
Research Coverage:
Offering, deployement type, security type, technology, application,
end user, and geography are the segments covered in this report. It
also gives a detailed view of the market across 4 main regions:
North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
• This report includes statistics pertaining to the AI in
cybersecurity market in terms of offering, deployement type,
security type, technology, application, end user and region, along
with their respective market sizes.
• Major drivers, restraints, opportunities, and challenges for the
AI in cybersecurity market have been provided in detail in this
report.
• The report includes illustrative segmentation, analysis, and
forecast for the AI in cybersecurity market based on its segments
and subsegments.
Read the full report:
https://www.reportlinker.com/p05273236/?utm_source=PRN
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