Generative Artificial Intelligence In Security Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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Over recent years, the generative artificial intelligence in security market has witnessed exponential growth. It is projected to grow from $0.66 billion in 2023 to $0.80 billion in 2024 at a compound annual growth rate CAGR of 20.5%. Such growth in the historical period can be attributed to factors including increasing cyber threats, the big data explosion, and the development of generative models. Furthermore, new security challenges arising from the surge in connected devices, alongside real-time threat detection, contribute to this upward trend.
Is The Generative Artificial Intelligence In Security Market Positioned For Further Expansion?
The generative artificial intelligence in security market shows potential for staggering growth over the next few years, expected to reach $1.69 billion in 2028 with a compound annual growth rate CAGR of 20.7%. The forecast period growth can be credited to the escalating complexity and frequency of cyberattacks, stringent data protection laws and regulations, and the integration with existing security infrastructure. Moreover, the application of generative artificial intelligence for identity verification alongside public-private partnerships propel this growth. Noteworthy, forthcoming trends, such as improved malware analysis, bespoke security solutions, combined threat intelligence, integration with other technologies, and AI-driven incident response platforms will shape the market dynamics.
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What Drives The Generative Artificial Intelligence In Security Market?
Increasing cybersecurity threats are set to fuel the generative artificial intelligence in the security market. Cybersecurity threats are harmful activities aimed at digital systems intending to steal, damage, or disrupt data and operations. Manifestations of such threats include hacking, malware, phishing, and ransomware attacks. Predominantly cyber threats occur due to system vulnerabilities, human error, and sophisticated attacks by malicious individuals exploiting weaknesses for financial gain, data theft, or disruption.
Generative artificial intelligence in security battles these cybersecurity threats by creating advanced models for threat detection, simulating possible attacks, and heightening response strategies, thereby fortifying overall security measures. For example, in June 2022, according to the Phishing Activity Trends Report, published by the Anti-Phishing Working Group APWG, a US-based non-profit organization, there were 384,291 phishing attacks recorded in March 2022, contributing to a total of 1,025,968 attacks in the first quarter. This was the first time the total number of attacks surpassed one million, breaking the previous record of 888,585 attacks recorded in the fourth quarter of 2021. Therefore, increasing cybersecurity threats is a significant factor driving the generative artificial intelligence in security market growth.
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Who Leads The Generative Artificial Intelligence In Security Market?
Key companies operating in the generative artificial intelligence in the security market include Intel Corporation, International Business Machines Corporation IBM, Nvidia Corporation, Palo Alto Networks, Fortinet Inc., CrowdStrike Holdings Inc., Elasticsearch B.V., AO Kaspersky Lab, Forcepoint, Arctic Wolf, Darktrace Holdings Limited, BeyondTrust Corporation, Sumo Logic, SentinelOne, Cybereason, LogRhythm, ExtraHop Networks, Securonix Inc., Vectra AI, Aqua Security, Menlo Security Inc., SparkCognition Inc., Deep Instinct Ltd., Acalvio Technologies.
What Is The Latest Trend In The Generative Artificial Intelligence In Security Market?
Major companies in the generative artificial intelligence in security market are focusing on developing innovative products, such as next-generation scanners. These tools equip enterprises with customizable AI-powered security solutions that enhance control and efficiency. For instance, in May 2024, CalypsoAI Corp., a US-based artificial intelligence AI security company, introduced Customizable Generative Artificial Intelligence Security Scanners for enterprises. These scanners enable organizations to formulate their own AI-powered scanners, establish detailed policies, block or redact content, and create new categories based on proprietary data. Additionally, amplified security functionalities for chatbots on platforms such as Slack and Microsoft Teams assimilate seamlessly with existing workflows, supporting various AI models, and enhancing secure document handling and query support.
How Is The Generative Artificial Intelligence In Security Market Segmented?
1 By Type: Network Security, Application Security, Cloud Security, Other Security Types
2 By Service: Professional Services, Managed Services
3 By Deployment Mode: Cloud-Based, On-Premises
4 By End Users: Retail, Banking, Financial Services And Insurance, Manufacturing, Healthcare, Other End-Users
What Are The Regional Insights Into The Generative Artificial Intelligence In Security Market?
In 2023, North America was the predominant region in the generative artificial intelligence in security market. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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