Global Artificial Intelligence-based Cybersecurity Market 2018-2022 | 29% CAGR Projection Through 2022 | Technavio
LONDON--(BUSINESS WIRE)--Feb 5, 2020--
The global artificial intelligence-based cybersecurity market is expected to post a CAGR of more than 29% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global artificial intelligence-based cybersecurity market 2018-2022. (Graphic: Business Wire)
Many firms, especially SMEs are increasingly adopting cloud-based services for various business operations such as CRM, payroll, and enterprise communication, to ensure remote access to data. Enterprises belonging to BFSI, government, and healthcare store critical information on cloud platforms. Since cloud platforms are more vulnerable to cybercrimes, it is imperative for businesses to protect confidential information from hacking and data thefts. These factors have increased the adoption of AI-based cybersecurity solutions among organizations that have implemented cloud-based solutions.
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As per Technavio, the heavy investments in cybersecurity will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Artificial Intelligence-Based Cybersecurity Market: Heavy Investments in Cybersecurity
The number of cyber threats and attacks has increased significantly over recent years. This is compelling many organizations to invest heavily in cybersecurity to reduce security breaches. For instance, in 2016, venture capital firms invested nearly USD 3 billion in cybersecurity startups. Data security firms are also actively investing in the development of AI-based security solutions that detect threats before they occur. These factors will boost the growth of the global artificial intelligence-based cybersecurity market during the forecast period.
“Rising adoption of chatbots to combat cyberattacks and the high adoption of AI and machine learning will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Artificial Intelligence-Based Cybersecurity Market: Segmentation Analysis
This market report segments the global artificial intelligence-based cybersecurity market by end-users (BFSI, government, ICT, healthcare, and others) and geography (America, APAC, and EMEA).
The Americas region led the market in 2017, followed by APAC and EMEA respectively. However, during the forecast period, the APAC region will register the maximum incremental growth. This is due to the growth in the generation of large volumes of sensitive data led by the high adoption of mobile devices in the region.
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Five Forces Analysis
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