Artificial Intelligence In Security Market Size, Share, Growth Analysis, By Type(Network Security, Endpoint Security, Application Security, Cloud Security), By Offering(Hardware, Software, Services), By Technology(Machine Learning (ML), Natural Language Processing (NLP), Context-aware Computing), By Application(Identity And Access Management, Risk and Compliance Management, Data Loss Prevention, Unified Threat Management), By Vertical(BFSI, Retail, Government & Defense, Manufacturing), By Region - Industry Forecast 2024-2031

Global Artificial Intelligence in Security Market size was valued at USD 16.5 billion in 2022 and is poised to grow from USD 20.56 billion in 2023 to USD 119.44 billion by 2031, growing at a CAGR of 24.60% during the forecast period (2024-2031).

Global Artificial Intelligence in Security Market is fragmented and very competitive due to an increase in cyberattacks throughout time, a lot of new businesses are emerging with cutting-edge technologies. To maintain a competitive edge and increase their market position in the worldwide artificial intelligence in security market, leading companies are increasingly focusing on implementing tactics such as adopting new technology, product developments, mergers and acquisitions, joint venture, alliances, and partnerships. Major players in market include IBM Corporation, Cisco Systems, Inc, Tech Mahindra Limited, Micron Technology, Inc, Fortinet, Inc. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Acalvio Technologies, Inc. (US) ', 'Amazon Web Services, Inc. (US) ', 'Darktrace (UK) ', 'Fortinet, Inc. (US) ', 'IBM Corporation (US) ', 'Intel Corporation (US) ', 'LexisNexis (US) ', 'Micron Technology, Inc. (US) ', 'Palo Alto Networks, Inc. (US) ', 'CrowdStrike Holdings, Inc. (US) ', 'SentinelOne, Inc. (US) ', 'SAS Institute Inc. (US) ', 'Splunk Inc. (US) ', 'Check Point Software Technologies Ltd. (Israel) ', 'Varonis Systems, Inc. (US) ', 'CyberArk Software Ltd. (Israel) ', 'Bitdefender LLC (US) ', 'Cyberbit Ltd. (Israel) ', 'Deep Instinct Ltd. (Israel) ', 'Tanium Inc. (US)'

Internet of Things (IoT), rise in cyberattacks, dearth of cybersecurity experts, and growing cyberterrorism are the main reasons propelling this market's expansion.

North America held the largest market share in 2022 owing to the exponential growth of IoT, 5G, and Wi-Fi 6 along with an increase in network-connected devices. 5G network expansion is driven by businesses in the automotive, healthcare, government, energy, and mining industries. In 2022, the US held the greatest market share in North America. North America is a pioneer in the adoption of cutting-edge technology like AI because banks, government organisations, and financial institutions. The US encounters difficulties as a result of cyber threats. In order to manage the cybersecurity landscape, cutting-edge technologies are used. Additionally, a number of cybersecurity providers have offices in the US, which has helped the AI in cybersecurity industry to flourish in North America.