BANGALORE, India, Aug. 2, 2024 /PRNewswire/ -- Artificial Intelligence in the Security Market is Segmented by Type (Endpoint Security, Network Security, Application Security, Cloud Security), by Application (Government & Defense, Enterprise, BFSI, Retail, Healthcare, Manufacturing, Automotive & Transportation, Infrastructure).
The Global Artificial Intelligence in Security Market is projected to grow from USD 4966.7 Million in 2023 to USD 13450 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period.
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Major Factors Driving the Growth of AI in Security Market:
The market for artificial intelligence (AI) in security is growing quickly as businesses use cutting-edge technology to improve their security protocols and defend against increasingly complex cyberattacks. The efficiency and efficacy of security operations are greatly increased by AI-driven security systems, which include features like automated responses, predictive analytics, and real-time threat identification. By identifying and thwarting possible attacks more quickly than with conventional techniques, AI integration in security systems lowers the likelihood of data breaches and other cyber catastrophes. The use of AI in security is driven by the need for proactive security tactics and the increasing complexity of cyberattacks. These industries include government, banking, healthcare, and retail.
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TRENDS INFLUENCING THE GROWTH OF THE AI IN SECURITY MARKET:
The market for artificial intelligence (AI) in security is growing quickly as businesses use cutting-edge technology to improve their security protocols and defend against increasingly complex cyberattacks. The efficiency and efficacy of security operations are greatly increased by AI-driven security systems, which include features like automated responses, predictive analytics, and real-time threat identification. By identifying and thwarting possible attacks more quickly than with conventional techniques, AI integration in security systems lowers the likelihood of data breaches and other cyber catastrophes. The use of AI in security is driven by the need for proactive security tactics and the increasing complexity of cyberattacks. These industries include government, banking, healthcare, and retail.
Because endpoints like laptops, cellphones, and IoT devices are frequently used as entry points for assaults, endpoint security is a major driver of AI in the security industry. AI improves endpoint security by offering more sophisticated threat detection and reaction tools. Real-time endpoint activity monitoring and analysis by AI-powered systems can spot irregularities and possible threats that conventional security technologies would overlook. Secure sensitive data and organizational network integrity depend on the capacity to identify zero-day attacks, ransomware, and other advanced threats at the endpoint level. The market is expanding as a result of the rising need for reliable AI-driven endpoint security solutions brought on by the growing number of connected devices.
Because of its extreme vulnerability to financial fraud and data breaches, the BFSI (Banking, Financial Services, and Insurance) industry is one of the main drivers of AI in the security market. Artificial intelligence (AI) technology provides sophisticated capabilities to identify and stop fraudulent activity, secure transactions, and safeguard client data. AI is used by financial institutions for real-time monitoring, risk assessment, and anomaly detection-tasks that are essential for upholding client confidence and adhering to strict regulatory standards. Artificial intelligence (AI) is a vital tool for the financial services industry because of its capacity to analyze vast amounts of financial data and swiftly and correctly spot questionable trends. The increasing sophistication of cyber threats directed at financial institutions is propelling the financial sector's use of artificial intelligence (AI) in security, hence driving market expansion.
One of the main drivers of the security industry's development is proactive threat detection. AI technologies offer proactive threat detection by continually monitoring and analyzing data to discover possible dangers before they can cause harm, in contrast to traditional security methods that respond to attacks after they happen. Security systems can anticipate and avert intrusions thanks to machine learning algorithms' ability to learn from past data and identify anomalies. By taking a proactive stance, security breaches are less damaging and incident response takes less time and money. The capacity of AI to reduce risks and issue early warnings is attracting more and more organizations, which is fueling the growth of the AI security industry.
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AI IN SECURITY MARKET SHARE
The market for AI in security is expanding quickly in the Asia-Pacific area as a result of growing cyberthreats, a rise in the use of AI technology, and large expenditures in digital infrastructure. China, Japan, and India are leading the way in this expansion due to their developing IT sectors and government programs to strengthen cybersecurity.
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Key Companies:
- NVidia
- Intel
- Xilinx
- Samsung Electronics
- Micron
- IBM
- Cylance
- Threatmetrix
- Securonix
- Amazon
- Sift Science
- Acalvio
- Skycure
- Darktrace
- SparkCognition
- Antivirus Companies
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