Artificial Intelligence(AI) propelled Cybersecurity market is said to create a revenue of $101.8 billion by 2030(on a global note), surging from just 8.6 billion in 2019-says a survey conducted by ResearchAndMarkets.
The survey also states that the market will generate the said amount of revenue from a segmented market that includes fraud detection, threat intelligence and vulnerability management along with data loss, identity and access management and intrusion detection.
ResearchAndMarkets says that the revenue generation will take place as companies across the globe will start investing more on threat prevention solutions because of a surge in malicious attacks and cyber frauds
Cyber fraud includes identity credential and payment card information theft as businesses will be forced to deal with hackers efficiently.
As a result, companies will start investing in Cybersecurity solutions propelled by AI as they play a vital role in combating cyber threats with greater efficacy by proactively identifying threats and refining them with techniques that help thwart such attacks before any untoward takes place.
The adoption of AI powered Cybersecurity solutions will also witness a surge in the next few years, as there will be an increase in adopting BYOD policies by firms operating across the world. Such policy adoption leads to an increase in the productivity and satisfaction among employees.
Steve Delmont of Cisco Talos says that machine learning tools help in securing endpoint solutions to the fullest tools help in mitigating the security threats and prevent attacks.
If the revenue generation from the AI propelled Cybersecurity market is estimated region wise, North America is said to top the list in coming years too as it has done till 2019 owing to an increase in cyber attacks on the IT infrastructure operating across various companies in the Joe Biden led nation.
Britain and Canada will take the respective numbers after, followed by Australia and Canada says the study conducted by ResearchAndMarkets.