AI in Cyber Security Market
The artificial intelligence in cyber security market in the APAC region is expected to witness the fastest growth during the forecast period.
NEW YORK, UNITED STATES, May 31, 2022 /EINPresswire.com/ — The artificial intelligence in cyber security market stood at $8.6 billion in 2019, and it is projected to reach $101.8 billion in 2030, advancing at a CAGR of 25.7% during 2020–2030. This growth is supported by factors such as the rapid digitization of industries, high penetration of mobile internet, huge investments by governments, information technology sector, and financial institutions in the AI technology, and shift from conventional banking to digital banking. However, the biggest reason for the market growth remains the alarming cybercrime incidence.
In August 2019, the Government Accountability Office (GAO) of the U.S. stated that despite combative actions, cybercrimes are growing every year. With the escalating incidence of cyber frauds, such as payment card thefts and identity frauds, organizations are suffering significant financial losses. If these attacks are not countered quickly,…
