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Artificial Intelligence in Cybersecurity Market Size, Share and Forecast to 2028
The global market for Al in Cybersecurity is projected to grow from USD 22.4 billion in 2023 to USD 60.6 billion by 2028, at a CAGR of 21.9% during the forecast period. The surge in artificial intelligence (AI) technologies like natural language processing (NLP) and machine learning (ML) is vital for enhancing cybersecurity. With an increase in cyberattacks on tech firms, defense, and government agencies, the demand for advanced AI solutions has grown. Cyber AI, particularly in behavioural biometrics, is crucial for proactive threat protection. ML algorithms are a top priority for industry players to strengthen security intelligence. The banking sector, facing rising privacy concerns, emphasizes the significance of AI-based cybersecurity. As cyber threats evolve, the market is expected to expand, especially driven by demand from small- and medium-sized enterprises (SMEs).
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CyberSecurity Industry Outlook Segments and Forecast to 2024
According to a research report "Global Cybersecurity Industry Outlook 2024 – A Look Ahead at the Cyber Landscape" published by MarketsandMarkets, the global cybersecurity industry market size is estimated to grow from USD 190.5 billion in 2023 to USD 208.8 billion by 2024, at a Y-o-Y increase of ~10%. Companies like Palo Alto Networks, Fortinet, Cisco, Checkpoint, etc., have contributed to this growth through innovation, diverse product offerings, and effective marketing strategies.
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