FABRIC Forecasts Global AI-enabled Cybersecurity Industry to cross $45 Billion mark in the next 3 years
Dublin, Aug. 28, 2020: As of 28 August 2020, globally 80% of firms have witnessed a spike in cyberattacks, phishing attempts increased by
500%, and phishing attacks accounted for a loss of $20,300. Even companies like Apple declared that branded phishing attempts have grown by 10% in
Q1 2020. Well, these instances are just tip of the iceberg; practically cyberattacks on IoT enabled devices or connected devices have increased by
4.3 times in the last 1 year. All these instances are forcing companies to rethink on cybersecurity strategies. They are also creating the need for technological integration to defend critical assets, infrastructure, and data. Artificial Intelligence (AI) technologies bundled with next-gen algorithms provide a stronger safeguard mechanism to respond to these unprecedented challenges. AI’s integration in this space will start the era of Cybersecurity 2.0 in the next 1 year.
The cybersecurity market has witnessed 30X growth from 2009-2019, and in the next 10 years, this industry is expected to cross $1 trillion cumulatively in the timeline of 2020-2025. In comparison, AI Cybersecurity is expected to cross $45 billion mark by the end of 2023. In the timeline of 2015-2018, while we were busy in deploying more connected devices and thinking for IoT use cases, few companies like Stellar, Cisco, Fortinet, Check Point, Palo Alto, and IBM were sketching strategies to build the “Cybersecurity Guardians”. Owing to these futuristic strategies top 5 vendors of the AI cybersecurity market hold the ~40% market share.
At present, applications like Data Loss Prevention (DLP), Threat Management, and Threat Monitoring & Situational Awareness, are targeted by the
AI and Blockchain-based solutions which are empowered by data analytics and Machine Learning. These solutions are also marketed as-a-service by
AI Cybersecurity vendors. Critical stakeholders of the AI Cybersecurity ecosystem are using the XDR approach for threat detection and response.
Along with these trends, partnership and alliance are snowballing in this ecosystem, and is one of the evergreen strategies, since the last 7 years.
Providing actionable insights about AI in Cybersecurity to its clients, Avira’s market
intelligence platform FABRIC has synchronized 450 high
importance market activities using Machine Learning and Data Science Algorithms. We would love to exchange our methodology, datasets, and
observations on the quick demo of FABRIC.
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