SecurityWorldMarket

24/05/2019

AI in cyber security market could increase 4 fold by 2026

Northbrook, Il (USA)

A new report on the AI in cyber security market projects that this sector will reach USD 38.2 billion by 2026 from USD 8.8 billion in 2019, at the highest CAGR of 23.3%. Marketsandmarkets suggest that the major drivers for this substantial market growth are growing adoption of IoT and increasing numbers of connected devices, rising instances of cyber threat, growing concerns of data protection, and increasing vulnerability of Wifi networks to security threats.

Furthermore, underlying opportunities for the AI in cyber security market include a growing need for cloud-based security solutions among SMEs, and increased use of social media for business functions. Major restraints for the market are inability of AI to stop zero-day and advanced threats, and a rise in insider cyber threats. The limited number of cyber security and AI professionals, and the lack of interoperability within existing information systems pose major challenges to the AI in cyber security market.

Cloud deployment is expected to grow at a high 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 data to be protected is on the cloud. Migrating to the cloud has benefits such as enhanced flexibility, control, and scalability. 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 cyber security from most enterprises.

Of all the different types of end users, automotive and transportation are predicted to hold the largest market size of the AI in cyber security market during the forecast period. In the automotive industry, Big Data poses a significant problem with the connected car becoming more of a gadget than a purely physical product, constantly synced and updated. It now produces huge amounts of data. Combining machine learning with Big Data analytics presents an opportunity to make sense of the huge volumes of valuable data collected from vehicles, servers, and smart mobility services. Using machine learning, patterns of “normal” behaviour can serve as baselines to identify anomalies from cyber threats and policy violations to vehicle and driver irregular behaviors.

North America is among the major contributors to the AI in cyber security market, and the US accounted for the largest share of the market in North America in 2018. The global AI in cyber security market is dominated by North America as the region is an early adopter of AI technologies through banks, government agencies, and financial institutions. In this region these industries face ever-increasing challenges related to cyber threats, and therefore, advanced technologies are implemented to manage the cyber security landscape. Moreover, several cyber security vendors are based in this region, thereby contributing to the growth of the AI in cyber security market in North America.

Nvidia, Intel, Xilinx, Samsung, Micron, IBM, Amazon, Darktrace, Cylance, Vectra AI, Threatmetrix, Securonix, Palo Alto, and Symantec are just a few of the major players named in the report.


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