Artificial Intelligence (AI) in Cyber Security Market Size, Share, Growth, Trends, and Global Industry Analysis: By Offering (Hardware, Software and Service), By Deployment Type (Cloud and On-Premise), By Security Type (Network Security, Endpoint Security, Application Security and Cloud Security), By Technology (Machine Learning, Natural Language Processing and Context-Aware Computing), By Application (Identity & Access Management, Risk & Compliance Management, Data Loss Prevention, Unified Threat Management, Security & Vulnerability Management, Antivirus/Antimalware, Fraud Detection/Anti-Fraud, Intrusion Detection/Prevention System, Threat Intelligence and Others (firewall, disaster recovery, DDoS mitigation, web filtering, application whitelisting, and patch management)), By End User (BFSI, Retail, Government & Defense, Manufacturing, Infrastructure, Enterprise, Healthcare, Automotive & Transportation and Others (oil & gas, education, and energy)),  and Region Forecast 2019-2030

Artificial Intelligence (AI) in Cyber Security Market size valued at US$ 10.43 billion in 2023  and expected to reach US$ 666.60 million by 2030, at a significant CAGR of 21.3% from 2024-2030. Rising concerns of data protection, increasing dependence on home networks for internet access, increasing IoT adoption and the number of connected devices, rising number of cybercrimes and number of start-ups adopting AI are some key factors impelling the market growth. Also, growing need for cloud-based security solutions among SMEs, adoption of bring-your-own-device (BYOD) policy and increasing use of social media for business functions provides huge growth opportunity for the market.

However, factors such as rise in insider cyber threats and limited number of cybersecurity & AI professionals are restricting the market growth. Some of the key factors driving the growth of the artificial intelligence in cybersecurity market include rising demand for advanced cybersecurity solutions and privacy, an increase in the frequency and complexity of cyber threats, the emergence of disruptive digital technologies across industry verticals, and consistent technological advancements in security solutions. In addition, rising government investment in the security sector, a growing demand for cloud-based security solutions among small and medium-sized businesses, and the implementation of 5G technology are all driving the artificial intelligence in cybersecurity market forward.

Key Development

• In Mar 2022, SparkCognition acquired Integration Wizards, a leader in visual AI. Both companies may increase the value they give to clients while leveraging existing infrastructure investment by using advanced visual AI that can distinguish complicated settings and activities.
• In Nov 2021, IBM acquired ReaQta. This acquisition will strengthen IBM's position in the extended detection and response (XDR) industry, aligning with the company's aim of providing security through an open approach that spans diverse technologies, data, and hybrid cloud settings.