April 20, 2024
Business Cybersecurity

AI Cybersecurity Market To Surpass $133Bn By 2030

Businesses Prioritise Proactive Defence Mechanisms

Adopting AI-enhanced cybersecurity solutions has become a pivotal strategy for organisations worldwide in a digital landscape riddled with cyber threats.

Recent data reveals a stark contrast in financial repercussions between entities fortified with AI-powered defences and those without.

Notably, companies leveraging AI cybersecurity saved a substantial $1.8 million on average in breach-related costs compared to their counterparts.

AltIndex, the San Francisco-based data infrastructure and analytics company, forecasts a monumental surge in the global AI cybersecurity market, projecting its value to quadruple to a staggering $133 billion by 2030.

This anticipated trajectory signifies a seismic shift in cybersecurity practices as businesses prioritise proactive defence mechanisms.

The exponential growth trajectory of the AI cybersecurity sector mirrors the escalating financial toll of cybercrime.

$8.15 Trillion In Damages

In 2023, a colossal $8.15 trillion in damages was attributed to cyber-attacks globally.

As threat actors increasingly deploy AI-driven tactics, this figure will swell by approximately $1 trillion annually, reaching almost $14 trillion by 2028.

Technopedia’s AI Cybersecurity Insight survey underscores this narrative, revealing a surge from $24.3 billion to over $31 billion in market value by 2024.

 Buoyed by a compound annual growth rate of 27%, the sector is poised to eclipse $133 billion by the decade’s end.

The allure of AI cybersecurity lies in its efficacy in fortifying digital perimeters and swiftly identifying looming threats.

Organisations employing AI solutions detected data breaches a staggering 100 days faster than their non-AI counterparts last year.

While only a third of organisations embraced AI cybersecurity tools in 2023, the potential for widespread adoption remains palpable.

The 2023 Cybersecurity Insiders survey underscores this sentiment, with 60% of respondents lauding improved threat detection as the foremost advantage of integrating AI into cybersecurity frameworks.

Enhanced vulnerability management and accelerated incident response times closely follow, with approximately 57% of professionals attesting to their efficacy.

Moreover, the promise of bolstered defence at scale and a reduction in false positives further cement AI’s pivotal role in safeguarding digital assets against evolving threats.

Featured image: A visitor engages with AI-powered augmented reality at GITEX Global 2019 in Dubai, UAE. Credit: Arnold Pinto

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers the latest business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
    Follow Me:

    Related Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *