AI and Cyber Security Revenue Forecast to Grow to over 100 Billion over the next 10 years.
The AI and cyber security market is poised for mega growth forecasted to grow from 8 Billion to 101.8 Billion in revenue.
According to the press release, "The number of malicious attacks and cyber frauds have risen considerably across the globe, which can be attributed to the surging penetration on internet and increasing utilization of cloud solutions. Cyber frauds, including payment and identity card thefts, account for more than 55% of all cybercrimes and lead to major losses for organizations, if they are not mitigated. Owing to this, businesses these days are adopting advanced solutions for dealing with cybercrimes in a quick and efficient way".
The report further discussed, " DLP plays a significant role in monitoring, identifying, and protecting the data in storage and in motion over the network. Certain specific data security policies are formulated in each organization and it is mandatory for the IT personnel to strictly follow them. DLP systems are majorly utilized for enforcing data security policies in order to prevent unauthorized usage or access to confidential data. The fraud detection/anti-fraud category accounted for the major share of the market in 2019 and is predicted to dominate the market during the forecast period as well."
The cyber fraud market has direct and indirect results on industries including Healthcare, Insurance, Financial Markets, Private Data, Social Media, Infrastructure, Ecommerce and every market in between. As companies are leveraging the power of being connected online with cloud services and 3rd party applications, Penetration Testing, understanding systems vulnerabilities and threat monitoring technology will be at the center to protecting systems globally.