Artificial Intelligence In The Cyber Security Market

The number of criminal hacking and cyber attacks continues to increase around the world, largely because of the rapid adoption of online and cloud computing solutions solutions for business and many government organisations. 

Fraud accounts for more than 55% of all cyber-crimes and lead to major losses for businesses. Consequently,  many more organisations are adopting Artificial Intelligence (AI) driven solutions to help deal with cyber threats. 

 

AI provides advanced protection and offers complete endpoint security, relieving some of the pressure on overstretched security teams.  Using AI can efficiently aid in mitigating security threats and preventing attacks. Combining the power of AI with cyber security, organistaions find that they have the additional resources to defend vulnerable networks and that applying this technology brings instant insights and faster response times. 

This is resulting in the growth of the overall market for AI in Cyber Security, where AI-based solutions are capable of combating cyber frauds by reducing response time, identifying threats, refining techniques for distinguishing attacks that need immediate attention.

BYOD: The number of cyber attacks has also been growing because of the surging adoption of the Bring Your Own Device (BYOD) policies. It has been observed that the policy aids in increasing productivity and further enhances employee satisfaction. But 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 device, which can pose high security threat to confidential data.

Cloud Deployment: significantly reduces the capital investment that is required to implement cyber security solutions; this is among the major reasons for the increased demand for cloud-based cybersecurity from most enterprises.

According to new research from MarketsandMarkets  (M&M) 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 year on year rate pf 25.7% during the forecast period (2020–2030).

The M&M analysis categorises the AI in Cyber Security market  into the following components: 

  • Threat Intelligence
  • Fraud Detection & Security 
  • Vulnerability Management,
  • Data Loss Prevention (DLP)
  • Identity & Access management
  • Intrusion Detection and Prevention 
  • Antivirus & Anti Malware
  • Unified Threat Management
  • Risk & Compliance Management

Of these, the DLP category is expected to grow 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 organisation and it is mandatory for the IT personnel to strictly follow them. DLP systems are mostly used for enforcing data security policies in order to prevent unauthorised usage or access to confidential data.

  • The Fraud Detection & Security 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 is led by North America in 2019 where a large number of companies are deploying cyber security solutions.
  • The Asia-Pacific region is expected to progress at the fastest pace over the duration of the forecast period.

AI can efficiently analyse user behaviors, deduce a pattern, and identify all sorts of abnormalities or irregularities in the network. With such data, it's much easier to identify cyber vulnerabilities quickly.

Cloud deployment type is expected to grow at a higher rate during the forecast period. Several businesses have already moved a part of their operations to the cloud, which has led security vendors to develop cloud-based solutions as the cloud offers benefits including reduced costs, enhanced flexibility and rapid scalability.

EC Council:         MarketsandMarkets:        PR Newswire:      Yahoo

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