5 Major Insights On The Artificial Intelligence In Security Market 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Artificial Intelligence In Security Global Market Report 2023, the artificial intelligence in security market is expected to show significant growth in the forecast period.
Key insights from the artificial intelligence in security market forecast include:
- Market Size
The global artificial intelligence in security market is expected to grow from $18.52 billion in 2022 to $22.7 billion in 2023 at a compound annual growth rate (CAGR) of 22.5%. The artificial intelligence in security market is expected to reach $50.25 billion in 2027 at a CAGR of 22%.
- Major Driver
The increasing risks of cyberattacks are expected to propel the growth of artificial intelligence in the security market going forward. For instance, in June 2022, according to the Anti-Phishing Working Group, a US-based independent counter-e-crime association, in the first quarter of 2022, the Anti-Phishing Working Group recorded a total of 1,025,968 phishing attacks, a 15% rise from the fourth quarter of 2021, where 888,585 attacks were reported. Therefore, the increasing risks of cyberattacks drive the growth of artificial intelligence in the security market.
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- Key Trend
Advancements in technology are a key trend gaining popularity in the artificial intelligence in security market. Major companies operating in artificial intelligence in security markets are adopting advanced technologies to sustain their position in the market. For instance, in March 2023, Microsoft Corporation, a US-based technology corporation, launched Security Copilot, an AI-powered cybersecurity assistant tool. This innovative tool is designed to help professionals identify breaches and threat signals and better analyze data. The new device contains Microsoft’s cybersecurity-specific training model, which incorporates 65 trillion daily alerts and the company’s worldwide threat intelligence. Security Copilot can provide direction and context regarding potential dangers based on questions and prompts from infosec professionals in minutes instead of hours or days.
- Major Players
Major players in the artificial intelligence in security market are Intel Corporation, The International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Nvidia Corporation, VMware Inc., Singapore Telecommunications Limited, Palo Alto Networks Inc., Advanced Micro Devices Inc., Fortinet Inc., Splunk Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., Kaspersky Lab Inc., BlackBerry Limited, Rapid7 LLC, Symphony Technology Group LLC, Mandiant, Darktrace Inc., Cybereason, Sentinel One Inc., Securonix Inc., and Vectra AI Inc.
- Top Market Segments
The global artificial intelligence in security market is segmented –
1) By Component: Services, Software
2) By Solutions: Identity And Access Management (IAM), Risk And Compliance Management, Encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), Antivirus Or Antimalware, Intrusion Detection Or Prevention System (IDS Or IPS), Other Solutions
3) By Deployment: On-Cloud, On-Premise
4) By Security Type: Network Security, Application Security, Cloud Security, Endpoint Security , Other Security Types
5) By End-Users: Enterprise, BFSI (Banking, Financial Services, And Insurance), Government And Defense , Retail, Healthcare, Manufacturing , Automotive And Transportation, Infrastructure, Other End-Users
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The Artificial Intelligence In Security Global Market Report 2023 provides an in-depth analysis on the artificial intelligence in security market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the artificial intelligence in security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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