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Rising Use of IoT-Enabled Devices Fueling AI-Driven Cyber Security Solution Demand

Nowadays, internet of things (IoT)-enabled devices are becoming more efficient due to the rapid advancements in the artificial intelligence (AI) technology and extensive need for ubiquitous connectivity and real-time communication. End-use industries such as automotive and transportation, healthcare, government and defense, retail, education, energy, oil and gas, information technology (IT) and telecom, manufacturing, and banking, financial services, and insurance (BFSI) are adopting IoT-based devices to enhance communication. 

However, the increasing use of such devices has led to a significant rise in cyberattack incidents. To mitigate such unprecedented instances and reduce financial and data loss incurred due to cybercrimes, end users are opting for AI-based cyber security solutions. Owing to this reason, the AI in cyber security market will accelerate at a healthy CAGR of 25.7% during 2020–2030. According to P&S Intelligence, the market revenue will surge from $8.6 billion in 2019 to $101.8 billion in 2030. 


Cyber frauds, such as payment card and identity thefts, result in huge data and financial losses, which can be combated through AI-driven solutions as they assist in identifying threats, refining techniques to classify the intensity of threats, and reducing response time. Moreover, the increasing implementation of the bring-your-own-device (BYOD) policy at workplaces is also facilitating the adoption of AI-driven cyber security solutions. 

Implementation of the BYOD policy helps in enhancing employee satisfaction and productivity. However, the usage of multiple personal devices makes corporate data vulnerable to cyberattacks. The devices of employees have wide-ranging capabilities and IT departments of organizations might not be able to completely evaluate, qualify, and approve each device, owing to which the threat to data security rises exponentially.

This market research report provides a comprehensive overview of the market
  • The Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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