Global Artificial Intelligence in Cybersecurity Market Outlook to 2028

Global Artificial Intelligence in Cybersecurity Market Overview

The Global Artificial Intelligence in Cybersecurity Market was valued at USD 22.4 billion in 2023. This market is primarily driven by the increasing frequency and sophistication of cyber-attacks, the growing adoption of IoT and connected devices, and the rising demand for AI-based cybersecurity solutions. The advancement of machine learning algorithms and the need for proactive security measures are further boosting market growth.

The major players in the global AI in cybersecurity market include IBM Corporation, Palo Alto Networks, Inc., Symantec Corporation, Cisco Systems, Inc., and Fortinet, Inc. These companies are at the forefront of developing advanced AI-based security solutions, focusing on enhancing threat detection, response times, and compliance with global cybersecurity standards.

IBM's 2023 revenue was around $61.9 billion, reflecting a 3% increase from 2022. However, its cybersecurity segment experienced a 5% decline in Q4, attributed to an execution gap. The company emphasized AI and consulting over security, aiming for improvement in 2024.

In 2023, North America dominated the global AI in cybersecurity market due to stringent data protection regulations, high adoption rates of AI technologies, and the presence of major cybersecurity firms.

Global Artificial Intelligence in Cybersecurity Market Segmentation

The global AI in cybersecurity market is segmented by deployment mode, application, technology, and region.

By Application: The market is segmented into network security, endpoint security, application security, and cloud security. In 2023, the network security segment held the largest market share, supported by the increasing need for securing network infrastructures against sophisticated cyber threats.

By Technology: The market is segmented into machine learning, natural language processing, and context-aware computing. In 2023, the machine learning segment held the largest market share, driven by its ability to analyze vast amounts of data and detect anomalies in real time.

By Region: The global AI in cybersecurity market is segmented into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA), and Latin America. In 2023, North America held the largest market share, supported by strong government regulations and high cybersecurity awareness.

Global Artificial Intelligence in Cybersecurity Market Competitive Landscape

Company

Establishment Year

Headquarters

IBM Corporation

1911

Armonk, USA

Palo Alto Networks, Inc.

2005

Santa Clara, USA

Symantec Corporation

1982

Mountain View, USA

Cisco Systems, Inc.

1984

San Jose, USA

Fortinet, Inc.

2000

Sunnyvale, USA

Cisco Systems: Cisco Systems launched Cisco Hypershield in April 2024, an AI-native security architecture designed for data centers and cloud environments. This solution enables rapid exploit protection, blocking threats in minutes. Cisco reports that nearly 100 new vulnerabilities are identified daily, highlighting the need for such advanced security measures to combat evolving cyber threats.

Palo Alto Networks, Inc.: In May 2024, Palo Alto Networks introduced a suite of new AI-powered security solutions to combat advanced threats and secure AI systems. The company sees an average of 2.3 million new and unique threats daily and blocks 11.3 billion threats inline per day, underscoring the urgent need for advanced security measures.

Global Artificial Intelligence in Cybersecurity Market Analysis

Global Artificial Intelligence in Cybersecurity Market Growth Drivers:

Increasing Cyber Threats: The growing sophistication of cyber-attacks, including malware, ransomware, and phishing, is driving the demand for advanced AI-driven cybersecurity solutions. In 2023, over 50% of enterprises globally reported an increase in cyber threats, necessitating the adoption of AI technologies to enhance threat detection and prevention.

Growing Adoption of Cloud- Based Solutions: The rapid shift towards cloud-based solutions across various industries has increased the need for robust cybersecurity measures. In 2023, cloud security accounted for over 40% of the total cybersecurity market, driven by the scalability and cost-effectiveness of cloud-based solutions.

Integration of AI and Machine Learning Technologies: The integration of AI and machine learning technologies into cybersecurity systems is enhancing threat detection, reducing response times, and improving overall security efficacy. By 2023, AI-driven cybersecurity solutions accounted for over 30% of the total cybersecurity market, reflecting the growing demand for advanced security measures.

Global Artificial Intelligence in Cybersecurity Market Challenges:

High Cost of AI Implementation: The high cost of implementing AI-driven cybersecurity solutions can be a substantial barrier for small and medium-sized enterprises (SMEs). In 2023, over 60% of SMEs reported budget constraints as a major challenge in adopting advanced cybersecurity measures, with overall global AI spending reaching $154 billion in 2023.

Lack of Skilled Workforce: The shortage of skilled professionals in AI and cybersecurity remains a critical challenge. In 2023, over 70% of organizations reported a lack of skilled professionals as a major barrier to implementing AI-driven cybersecurity solutions, exacerbated by the rapid growth of AI technologies requiring specialized knowledge.

Global Artificial Intelligence in Cybersecurity Market Government Initiatives:

U.S. Cybersecurity and Infrastructure Security Agency (CISA) Initiatives: The U.S. government established the Cybersecurity and Infrastructure Security Agency (CISA) in 2018 to enhance cybersecurity and protect critical infrastructure. By 2023, CISA had developed a comprehensive 2023-2024 Roadmap for Artificial Intelligence to responsibly use AI to strengthen cyber defence and deter malicious AI threats, while promoting beneficial uses and expanding AI expertise in the workforce.

National Artificial Intelligence Initiative Act (NAIIA): The U.S. government passed the National Artificial Intelligence Initiative Act (NAIIA) in 2020 to accelerate AI research and development, including applications in cybersecurity. The act provides funding and resources to advance AI capabilities and ensure the responsible development and use of AI systems to enhance national security.

Global Artificial Intelligence in Cybersecurity Market Future Market Outlook

The Global Artificial Intelligence in Cybersecurity Market is expected to reach USD 60.6 billion by 2028, driven by advancements in AI technology, the rising need for proactive cybersecurity measures, and supportive government regulations.

Global Artificial Intelligence in Cybersecurity Market Future Market Trends:

Integration of AI with Blockchain Technology: The integration of AI with blockchain technology is expected to enhance data security and privacy, providing a more secure and transparent environment for data transactions by 2028. 90% of global organizations are projected to adopt blockchain as a service by 2026, enabling seamless integration with AI solutions.

Expansion of Quantum Computing: The growth of quantum computing is anticipated to revolutionize cybersecurity by providing new opportunities for AI-driven solutions to enhance encryption and threat detection capabilities. IBM, Google, and Amazon have made some investments in quantum computing research, with plans to commercialize quantum-based cybersecurity solutions by 2027.
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