SkyQuest projects the AI cybersecurity market will reach $114.3 billion by 2031
A new market insight report from SkyQuest revealed that the Artificial Intelligence (AI) in cybersecurity market, which was evaluated at $22.49 billion as of 2023, is expected to grow to $114.3 billion by 2031, a CAGR of 22.53%.
SkyQuest reports that a rapidly evolving threat landscape is driving the market growth and that the services sub-segment of the market will continue to hold considerable sway as many companies lack the resources to dedicate to AI cybersecurity.
The company reported in a press relase that AI’s ability to identify patterns and analyze huge volumes of data will make it a critical element in the fight against cyber-attacks. The report segmented the AI cybersecurity market into offerings, security type, technology, application, vertical, and region.
SkyQuest’s forecasted growth comes in lower than the growth predicted in a 2022 Acumen report. According to that report, the market will reach $133.8 billion by 2030.
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Hayden Beeson
Hayden Beeson is a writer and editor with over seven years of experience in a variety of industries. Prior to joining Lightwave and Broadband Technology Report, he was the associate editor of Architectural SSL and LEDs Magazine.