5G Security Market is Dominated by North America As per a statement by P&S Intelligence, the 5G security market generated a value of USD 1.63 billion in 2022, and it will propel at a 40.60% CAGR, to touch USD 24.89 billion, by 2030. The growth in the industry is mainly ascribed to the growing requirement for fast network connection and the mounting concern about security for 5G networks because of the increasing attacks on them. Additionally, growth opportunities will rise due to the requirement for private 5G networks in the government, industrial, and businesses sector, along with the increasing operator investments in dynamic infrastructure. The services category will witness faster growth over this decade, at a rate of approximately 41.2%. The requirement for service between end users has grown with the developing technological trends. In 2022, the 5G NR non-standalone architecture category held a share of over 64.0%. Whereas, the standalone 5G category will gain more traction in the years to come. This is credited to the fact that more than offering a higher capacity, it also provides Ultrareliable Low Latency Communications. Based on deployment, in 2022, the cloud category accounted for the larger 5G security market share, of 69%, and it is also expected to be the fastest growing, growing at a rate of 42%. This is mainly ascribed to the low cost of the cloud, particularly for small and medium-sized enterprises. North America dominated the 5G security industry, owing to the significant developments of 5G technology and the implementation of security measures to prevent leaks. Spectra for the fifth generation are being disseminated successfully across North America, in both the low-band and high-band ranges. The U.S. is expected to witness a strong growth rate in the North American Industry, growing at a rate of approximately 40%, in the years to come. The fifth-generation security approach offers a more effective means to address improvements in the network, therefore rising the technological ability of the nation to develop and contribute. APAC is the second-fastest growing industry in the global 5G security industry, owing to the large mobile subscriber pool, due to its large population. Moreover, APAC is home to the most users of mobile in the world, and the nations in this region will keep increasing their telecom networks in the years to come. The strategic leadership, economic diversity, and size of countries, for instance, China, Singapore, Australia, Japan, and South Korea will be the main reasons for the growth of the industry. Hence, with the robust requirement for digitization across industries and the increasing threats of cyberattacks on telecommunication networks, the 5G security industry will grow significantly in the years to come. Read More: https://www.psmarketresearch.com/market-analysis/5g-security-market-report

AI in Cyber Security Market To Reach $101.8 Billion by 2030 The artificial intelligence (AI) in cyber security market stood at $8.6 billion in 2019, and it is projected to reach $101.8 billion in 2030, advancing at a CAGR of 25.7% during the forecast period (2020–2030). This growth is supported by factors such as the rapid digitization of industries, high penetration of mobile internet, huge investments by governments, information technology (IT) sector, and financial institutions in the AI technology, and shift from conventional banking to digital banking. However, the biggest reason for the market growth remains the alarming cybercrime incidence. In August 2019, the Government Accountability Office (GAO) of the U.S. stated that despite combative actions, cybercrimes are growing every year. With the escalating incidence of cyber frauds, such as payment card thefts and identity frauds, organizations are suffering significant financial losses. If these attacks are not countered quickly, they end up having a long-term impact on businesses. AI-driven solutions tackle cyber frauds by identifying threats, refining techniques, reducing the response time, and better distinguishing attacks that need immediate attention. Another factor driving the AI in cyber security market growth is the implementation of the bring-your-own-device (BYOD) policy, as it enhances employee satisfaction and increases productivity. However, this policy poses a major risk, as it makes corporate data vulnerable to cyberattacks. The devices of employees have varying hardware and software configurations, and IT departments might not be able to fully qualify, evaluate, and approve every device, which can pose a high security threat to confidential data. AI provides advanced protection through the machine learning (ML) technology and, thus, offers complete endpoint security. The categories under the offering segment of the AI in cyber security market include hardware, software, and services. Among these, the hardware category held the largest market share in the historical period (2014–2019). On the other hand, the software category is expected to showcase the fastest growth during the forecast period. AI systems require various kinds of software that include ML algorithms and application program interfaces (API), such as vision, language, speech, and sensor data, to realize the applications for cyber security. Geographically, the North American AI in cyber security market generated the highest revenue in 2019 due to the increasing adoption of cyber security solutions in business enterprises to deal with the frequent cyberattacks. The surging incidence of cybercrimes has led to business interruption and huge financial losses. The number of cyberattacks, such as network breaches and phishing emails, has grown at an exorbitant pace in Canada and the U.S. Moreover, the high digitization rate in the region is supporting the market growth in North America. Furthermore, the Asia-Pacific (APAC) region is projected to exhibit the fastest growth in the global AI in cyber security market in the forecast period. This would be due to the soaring number of cybercrimes, such as data breaches, financial frauds, and identity thefts, in the region. On account of these factors, organizations have increased their security expenditure to deal with the consequences and costs of more-advanced cyberattacks. Apart from business entities, governments of several countries are also investing huge amounts in cyber security to deal with advanced threats. Thus, the rapid digitization and high incidence of cyberattacks will fuel the market growth in the future. Read More: https://www.psmarketresearch.com/market-analysis/artificial-intelligence-in-cyber-security-market