The AI in cybersecurity market is projected to generate a revenue of $101.8 billion in 2030, increasing from $8.6 billion in 2019, progressing at a 25.7% CAGR during 2020-2030, ResearchAndMarkets reveals.
The market is categorized into threat intelligence, fraud detection/anti-fraud, security and vulnerability management, data loss prevention (DLP), identity and access management, intrusion detection/prevention system, antivirus/antimalware, unified threat management, and risk & compliance management, on the basis of application. The DLP category is expected to advance at the fastest pace during the forecast period.
Malicious attacks and cyber frauds growing rapidly
The number of malicious attacks and cyber frauds have risen considerably across the globe, which can be attributed to the surging penetration on internet and increasing utilization of cloud solutions.
Cyber fraud, including payment and identity card theft, account for more than 55% of all cybercrime and lead to major losses for organizations, if they are not mitigated. Owing to this, businesses these days are adopting advanced solutions for dealing with cybercrime in an efficient way.
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