Market Size of AI In Security Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 25.22 Billion |
| Market Size (2029) | USD 60.24 Billion |
| CAGR (2024 - 2029) | 19.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Artificial Intelligence (AI) in Security Market Analysis
The AI In Security Market size is estimated at USD 25.22 billion in 2024, and is expected to reach USD 60.24 billion by 2029, growing at a CAGR of 19.02% during the forecast period (2024-2029).
- With the rise in connected enterprises, devices, and applications, businesses are becoming more vulnerable as they are connected to a mass of independent endpoints. Therefore, AI in security provides an enticing proposition with its proactive threat mitigation capabilities, which are needed for constant supervision and adaptation to the multifaceted security vulnerabilities faced by the modern digitalized economy.
- AI and its applications allow users to protect any system by providing alerts to them in real-time to mitigate risk. The data available within the organizations are being used to train these systems. In February of the current year, DOD stood up the new position of the Office of the Chief Digital and AI Officer to serve as the department's senior official responsible for strengthening and integrating data, AI, and digital solutions and replacing the JAIC (Joint Artificial Intelligence Center) established in 2018.
- Implementing machine learning with AI enables threats and malware to be proactively prevented rather than only detected. This is expected to help create a huge market opportunity for artificial intelligence in the security market during the forecast period. In May 2022, the US Senate Armed Forces Committee's Subcommittee on Cyber held a congressional hearing on the importance of leveraging artificial intelligence and machine learning within cyberspace. This hearing included representatives from Google and the Center for Security and Emerging Technology at Georgetown University.
- The need for more skilled AI professionals and lack of awareness are expected to restrain the market during the forecast period. According to a report by IBM Security, artificial intelligence (AI), when fully deployed, provided the most significant cost mitigation, up to USD 3.05 million less at organizations with AI than organizations without AI. Data breach average cost increased by 2.6% from USD 4.24 million in the last year to USD 4.35 million in the current year.
