Generative AI In Cyber Security Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The global market landscape for Generative AI in Cyber Security is constantly evolving, accelerated by increasing complexity of cyber threats, growth of IoT, and the evolution of sophisticated attacks. The market size is projected to grow from $2.00 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate CAGR of 22.7%. Furthermore, the market is expected to reach $5.60 billion in 2028, growing at a CAGR of 22.8%.

What Drives the Growth of Generative AI in Cyber Security Market?

The surge in security threats is propelling the generative AI in cyber security market forward. Security threats that exploit system flaws or weaknesses can result in unauthorized access, data loss, or other damages. These threats are intensifying due to technological complexities, expanded digital attack surfaces, and increasingly sophisticated tactics employed by cybercriminals. Generative AI addresses these security threats by creating advanced models that predict, detect, and respond to potential risks through continuous data pattern analysis and threat simulations.

For example, according to the Department for Science, Innovation, and Technology, a UK-based government body, cybercrime affected 26% of medium-sized businesses, 37% of large enterprises, and 25% of high-income charities in April 2023. Consequently, this increase in security threats is driving the generative AI in the cyber security market.

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Who Are the Key Players in Generative AI in Cyber Security Market?

Key players in the generative AI in cyber security market include Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., NVIDIA Corporation, Palo Alto Networks Inc., Fortinet Inc., LexisNexis, CrowdStrike Holdings Inc., Palantir Technologies Inc., Trend Micro Inc., Elastic NV, Proofpoint Inc., Rapid7, Tanium, Darktrace plc, Sumo Logic Inc., SentinelOne Inc., LogRhythm Inc., Snyk, Vectra AI inc., Aqua Security Software Ltd., Illumio, Sophos Ltd., Acalvio Technologies.

What Are the Emerging Trends in Generative AI In Cyber Security Market?

Firms in the generative AI in cybersecurity landscape are focusing on the development of sophisticated solutions, such as cybersecurity assistants, to maintain their market position. A cybersecurity assistant, often fueled by AI or machine learning, is designed to augment cybersecurity efforts by automating tasks like threat detection, incident response, and vulnerability management. For instance, in August 2024, IBM introduced a new generative AI-powered cybersecurity assistant that offers enhanced threat investigation and real-time support by leveraging IBM's Watsonx AI platform.

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How Is Generative AI in Cyber Security Market Segmented?

The generative AI in cyber security market is segmented in the following ways:

1 By Type: Threat Detection And Analysis, Adversarial Defense, Insider Threat Detection, Network Security, Other Types
2 By Component: Hardware, Software, Services
3 By Technology: Generative Adversarial Networks GANs, Variational Autoencoders VAEs, Reinforcement Learning RL, Deep Neural Networks DNNs, Natural Language Processing NLP, Other Technologies
4 By End-Use: Banking, Financial Services, And Insurance BFSI, Healthcare And Life Sciences, Government And Defense, Retail And E-commerce, Manufacturing And Industrial, Information Technology IT And Telecommunications, Energy And Utilities, Other End-Uses

What Are The Regional Insights?

In 2023, North America was the largest region in the generative AI in cyber security market. Asia-Pacific is projected to be the fastest-growing region during the forecast period, with the markets in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa considered in this report.

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