Artificial Intelligence
Metamaterial Market is Expected to Grow at a CAGR of 21.74%, Reaching a Valuation of US$ 2058.89 Million from 2022-30 | Data by Contrive Datum Insights
Farmington, Jan. 26, 2023 (GLOBE NEWSWIRE) — The Metamaterial Market was worth USD 357.00 Million in 2022 and is expected to be worth USD 2058.89 Million by 2030, growing at a CAGR of 21.74% from 2023 to 2030. A metamaterial is an artificial substance with qualities that do not occur in nature. Multiple types of materials, such as metals, polymers, etc., are arranged in repeating patterns to create metamaterials. In contrast to natural composites, this one is manufactured in a laboratory and has a structure not found in nature. It possesses weird and unique features, such as electromagnetic properties.
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The odd physical features of metamaterials, such as negative permittivity and permeability and negative index of refraction, have prompted extensive research and development. A metamaterial is significant because it can alter the propagation of electromagnetic or acoustic waves. This allows engineers to modify the propagation of waves by altering the construction of unit cells. With the advancement of technology, the increasing usage of consumer electronics, and the expansion of the telecommunications industry, the market for metamaterials is projected to have a rapid expansion in the next years.
Metamaterial Market Recent Developments:
- November 2020, Kymeta Corporation announces the availability of KymetaTM u8 and Kymeta ConnectTM for government and commercial purchases after November 30, 2020. This product helps companies meet their mobile communications needs by providing broadband satellite connectivity and cellular networks.
- In November 2020, Metamterial Technologies Inc. started selling directly through its online store. Initially, the company is selling the metaOPTIX family of holographic film notch filters.
- In October 2020, Echodyne Inc released the EchoGuard CR and RadarHub. The EchoGuard CR provides high performance, active beam steering, and 3D radar capabilities in urban and dense environments or locations with reduced range requirements. RadarHub simplifies the deployment and management of multiple radars.
Metamaterial Market Segmentation Analysis:
The market for metamaterials has been segmented into the electromagnetic, tunable, photonic, frequency-selective surface, terahertz, and other markets, each of which is based on a different type of material. The electromagnetic market contributed substantially to the total revenue in the year 2021. The structures that makeup metamaterials utilized in electromagnetic technology are, for the most part, manufactured with microwave and optical uses in mind. This is how metamaterials come to be used in this field. Additionally, countries in Asia-Pacific and the Middle East are devoting more resources to research on metamaterials, which is a significant contributor to the rising sales in this sector.
The global market for metamaterials can be broken down into several categories, such as absorbers, antennas, cloaking devices, super lenses, MRI, x-ray, and other markets, depending on how the materials are put to use. In 2021, the most money was made from the antenna section of the business. Antennas are gaining in popularity as a result of the shift toward nanotechnology that is occurring in the communication equipment industry, as well as the improvement that is occurring in Wi-Fi and communication satellite technology all over the world. Additionally, as digitalization expands in countries that are considered to be in the second or third world, an increase in the use of metamaterials is anticipated as a result of the increased interest in multiband antennas, which is driving the expansion of the market. This indicates that a greater amount of capital will be invested in the manufacturing of mobile phones.
Metamaterial Market Regional Outlook:
In 2021, the market for metamaterials was dominated by North America, which held a market share of 34.0% worldwide. The Asia-Pacific area and Europe finished in second and third, respectively, after the Americas. It is anticipated that the market for metamaterials would be most robust in Europe, followed by North America, during the course of the next few years. This is due to the fact that more money is being invested in research and development with the purpose of utilising metamaterials in a variety of various ways. For instance, in 2017, the Defense Advanced Research Projects Agency (DARPA), the United States Navy, and Lockheed Martin Corporation gave a combined total of US$ 8 million to Doug Werner, John L. McCain, and Genevieve H. McCain, chair professors in the Electrical Engineering department at Penn State, to assist them in their research on metamaterials. The market for metamaterials in the Asia-Pacific region is the one that is increasing at the fastest rate in terms of revenue.
During the period covered by the projection, it is anticipated that Europe would experience significant economic expansion. Several nations in Europe, such as France, Germany, and Sweden, are major hubs for the research and development of various medical devices that are used all over the world. The sector of health care is experiencing rapid expansion across Europe. The expansion of technology capabilities in the healthcare sector is driving growth in the metamaterials industry in Europe. For instance, metamaterials are currently being utilised in the diagnosis of life-threatening diseases like cancer, as well as in the enhancement of the quality of MRI (magnetic resonance imaging) and other imaging techniques used in medicine.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 21.74% from 2023 to 2030 |
| Market Size in 2022 | USD 357.00 Million |
| Revenue Forecast by 2030 | USD 2058.89 Million |
| By Type | Electromagnetic Metamaterial, Frequency band Metamaterial, Terahertz metamaterial, Photonic Metamaterial, Tunable Metamaterial, Plasmonic metamaterial, Other |
| By Applications | Antenna, Solar panel, Sensors, Absorber, Medical Imaging, Superlens, Seismic protection, Sound filtering, Other |
| By Companies | Metamaterial Technologies Inc., Plasmonics, Inc., Kymeta Corporation, Phoebus Optoelectronics LLC, Multiwave Technologies AG, MetaShield LLC, Echodyne, Inc., Nano-Meta Technologies, Inc., JEM Engineering, and Acoustic Metamaterials Group, Ltd. |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Metamaterial Market Dynamics:
Market Drivers:
Use of metamaterials in high-tech applications in aerospace, defence, and the military: For the military, aerospace, and defence industries to be able to communicate well, antenna technology needs to be improved. Communication that is reliable, efficient, and in real-time is essential for network-centric operations on the digital battlefield that needs to send accurate information to the right people. The antenna is an important part of defence, aerospace, and military systems that are sometimes overlooked.
Market Restraints
Infrastructure that isn’t good enough to make the products in large quantities: The big players in the industry still get most of their production from research universities. The structure of a metamaterial is what determines its properties, not the materials it is made of. So, metamaterials are made in different ways depending on how they will be used. Finding the right materials to meet the needs of an application can be hard. Because of this, making metamaterials is hard and takes a long time. Synthesis costs different amounts depending on the methods used to make it.
Market Opportunity:
5G’s progress: Antennas that use metamaterials will benefit from the development and use of 5G. People in the industry are working on creating Metamaterials that are based on antennas and could have good radiation patterns. This would make them great for more than just ultra-wideband applications and 5G communications.
Key Segments Covered:
Top Market Players:
Metamaterial Technologies Inc., Plasmonics, Inc., Kymeta Corporation, Phoebus Optoelectronics LLC, Multiwave Technologies AG, MetaShield LLC, Echodyne, Inc., Nano-Meta Technologies, Inc., JEM Engineering, and Acoustic Metamaterials Group, Ltd., among others., And Others.
By Material Type
- Electromagnetic Metamaterial
- Frequency band Metamaterial
- Terahertz metamaterial
- Photonic Metamaterial
- Tunable Metamaterial
- Plasmonic metamaterial
- Other
By Application
- Antenna
- Solar panel
- Sensors
- Absorber
- Medical Imaging
- Superlens
- Seismic protection
- Sound filtering
- Other
By End-Use Industry
- Aerospace & Defense
- Electronics & Telecommunication
- Automotive
- Power plants
- Medical
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Solar Inverter Market – The Solar Inverter Market size was valued at USD 7.7 billion in 2022 and is expected to reach USD 17.9 billion by 2030, at a CAGR of 8.8% from 2022 to 2030. The Asia-Pacific region is expected to account for the largest revenue share at more than 44% during the forecast period. China is the largest contributor to the rapid growth of the solar market in the region and is a major competitor globally. Increasing solar installations in developing countries are also contributing to the growth of the market in this region has contributed significantly.
- Fiber Optic Sensors Market – The Fiber Optic Sensor Market Is Expected To Exceed USD 7.2 Billion By 2030, Growing At A CAGR Of 11.5% during the forecast period. In the European distributed fiber optic sensors market, Germany accounted for an 18.7% share in 2021. Germany is one of the largest consumers and manufacturers of military equipment in Europe.
- Nuclear Medicine Imaging Equipment Market – The Global Nuclear Medicine Imaging Equipment Market Is Expected To Grow From USD 2.8 Billion In 2022 And CAGR Of Approximately 4.9% During The Forecast Period 2022-2030. North America will dominate the market with a share of 45.2% in 2021 and is expected to grow at a significant rate during the forecast period. The high market share in the region can be attributed to increasing investments in R&D activities, high usage of nuclear medicine procedures, and strong healthcare infrastructure.
- Distributed Antenna System (Das) Market – The Distributed Antenna Systems (DAS) market was valued at USD 10.04 billion in 2022 and is expected to reach USD 19.84 billion by 2030, at a CAGR of 12.10% over the forecast period 2022 – 2030. North America is expected to be the largest DAS market during the forecast period. It is one of the most technologically advanced regions in the world. Consumers in the region have readily adopted 4G-capable smartphones, making the region one of the world’s most mobile densely populated regions.
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Artificial Intelligence
Data Center Chip Market Size was Valued at USD 11.7 Billion in 2022 and is Expected to Reach USD 45.3 Billion by 2032 at a CAGR of 14.6% | Valuates Reports
BANGALORE, India, July 26, 2024 /PRNewswire/ — Data Center Chip Market By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Data Center Size (Small and Medium Size, Large Size), By Industry Verticals (BFSI, Manufacturing, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Data Center Chip Market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
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Major Factors Driving the Growth of Data Center Chip Market
Because of the growing need for data processing and storage solutions brought about by the quick development of cloud computing, artificial intelligence, and big data analytics, the data center chip market is expanding significantly. High-performance chips are necessary for data centers to process massive volumes of data quickly and efficiently. As a result, advances in chip technology, including CPUs, GPUs, and specialist AI processors, have been made. The need for more resilient and scalable data center infrastructure is fueled in part by the expansion of digital services and Internet of Things (IoT) devices. The market is expanding due to key areas including Asia-Pacific, with its investments in technology and fast digital transformation, and North America, with its top tech businesses and vast data center networks.
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TRENDS INFLUENCING THE GROWTH OF THE DATA CENTER CHIP MARKET:
In data centers, Graphics Processing Units (GPUs) are essential for speeding up computing operations and data processing. They are perfect for managing workloads related to artificial intelligence (AI), machine learning, and large-scale data analytics because of their parallel processing capabilities. The need for GPUs in data centers is growing as these technologies become increasingly essential to corporate operations. Businesses are purchasing GPUs in order to increase the effectiveness of their data processing, lower latency, and boost overall performance. The need for data center chips is being driven by the increasing reliance on GPUs for sophisticated computing activities, which is considerably contributing to the market’s rise. This need is further increased by the growing use of AI and machine learning in a variety of sectors, which puts GPUs at the forefront of the data center semiconductor industry.
Compared to general-purpose chips, Application Specific Integrated Circuits (ASICs) provide better performance and efficiency since they are designed specifically for a given application. ASICs are extensively utilized in data centers for specific tasks including networking, data compression, and encryption. ASICs are becoming more and more common as a result of the growth of cloud computing, big data analytics, and blockchain technology, which has increased demand for high-performance, energy-efficient processors. Their capacity to provide tailored performance for certain applications aids data centers in better workload management, power conservation, and operating expense reduction. The market is expanding as a result of the increased preference for ASICs in data centers, which is fueling the need for specialized data center chips.
Large data centers are important users of data center chips; they are run by well-known IT firms and cloud service providers. To manage enormous volumes of data and provide a wide range of services, these facilities need a great deal of processing power and sophisticated computing skills. High-performance data center chips are becoming more and more necessary as a result of the growth of massive data centers and the rising demand for online streaming, cloud services, and digital transactions. These chips are necessary to ensure effective data management, processing, and storage, which helps big data centers fulfill the increasing expectations of its clientele. Large data center proliferation is anticipated to considerably boost the data center chip industry as the digital economy continues to grow.
Data centers are becoming more and more important to the Banking, Financial Services, and Insurance (BFSI) industry as a means of safely and effectively managing high transaction volumes, consumer data, and financial records. The need for sophisticated data center processors is being driven by the sector’s requirement for real-time data processing, high-performance computing, and strong security measures. BFSI organizations may improve their operational efficiency, guarantee data integrity, and deliver superior client services by utilizing data centers fitted with robust chips. The BFSI sector’s need for data center chips is being driven by the increasing use of online banking, digital banking, and financial analytics tools, all of which increase the requirement for sophisticated data center infrastructure.
The market for data center chips is significantly influenced by the cloud computing industry’s explosive growth. There is a growing need for scalable, effective, and high-performance data center infrastructure as more companies move their operations to the cloud. In order to handle enormous volumes of data, facilitate virtualization, and guarantee flawless service delivery, cloud service providers need sophisticated data center chips. Sturdy data center chips are becoming more and more necessary as cloud-based solutions become more and more popular. Benefits like cost savings, flexibility, and scalability are driving this trend. In places like North America and Europe, where cloud adoption rates are high and data center chip demand is rising rapidly, this tendency is especially significant.
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DATA CENTER CHIP MARKET SHARE
In 2022, North America gained a sizable portion of the market.
In 2022, the GPU made up the largest portion of the market share.
Throughout the projection period, large data centers are expected to gain a significant portion.
The BFSI market is anticipated to be one of the most profitable markets.
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Key Companies:
Advanced Micro Devices IncTaiwan Semiconductor Manufacturing Company LimitedBroadcomHuawei Technologies Co LtdIntel CorporationNVidia CorporationSamsung Electronics Co LtdQualcomm Technologies IncGlobalFoundriesARM LIMITED (SOFTBANK GROUP CORP.)Purchase Chapters @ https://reports.valuates.com/request/chaptercost/ALLI-Auto-2B326/Data_Center_Chip_Market
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Artificial Intelligence
Industry 4.0 Market to Surpass USD 513.89 Billion by 2031 with Automation Surge | SkyQuest Technology
WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
Industry 4.0 or the fourth industrial revolution emphasizes the use of automation and interconnectivity. Employment of advanced technologies such as artificial intelligence, machine learning, robotics, and connected devices to improve the productivity and efficiency of industries. Rapid digitization and advancements in technology are forecasted to bolster the Industry 4.0 market growth over the coming years. The global Industry 4.0 market is segmented into technology, industry vertical, and region.
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Industry 4.0 Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 154.6 billion
Estimated Value by 2031
$ 513.89 billion
Growth Rate
Poised to grow at a CAGR of 16.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights
Internet of Things (IoT) technology takes centerstage for Industry 4.0 adoption
Key Market Opportunities
Adoption of smart manufacturing and additive manufacturing practices
Key Market Drivers
Rising demand for automation across all industry verticals
Segments covered in Industry 4.0 Market are as follows:
TechnologyRobots (Traditional Industrial Robots {Articulated robots, Cartesian Robots, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Others}, Collaborative Robots), Blockchain in Manufacturing, Industrial Sensors (Level Sensors, Temperature Sensors, Flow Sensors, Position Sensors, Pressure Sensors, Force Sensors, Humidity & Moisture Sensors, Gas Sensors), Industrial 3D Printing, Machine Vision (Camera {Digital Camera, Smart Camera}, Frame Grabbers, Optics, and LED Lighting, Processor and Software), HMI (Offering {Hardware [Basic HMI, Advanced Panel-based HMI, Advanced PC-based HMI, Others], Software [On-premises HMI, Cloud-based HMI], Services}), Configuration ({Embedded HMI, Standalone HMI}, Technology {Motion HMI, Bionic HMI, Tactile HMI, Acoustic HMI}, End-user Industry {Process industries [Oil & Gas, Food & beverages, Pharmaceuticals, Chemicals, Energy & power, Metals & mining, Water & wastewater, Others], Discrete industry [Automotive, Aerospace & defense, Packaging, Medical devices, Semiconductor & electronics, Others]}), AI In Manufacturing (Offering {Hardware [Processor MPU, GPU, FPGA, ASIC, Memory, Network], Software [AI solutions- | On-premises, Cloud |, AI platform- | Machine learning framework, Application program interface |], Services [Deployment & integration, Support & maintenance]}, Technology {Machine learning [Deep learning, Supervised learning, Reinforcement learning, Reinforcement learning, Others], Natural language processing [Context-aware computing, Computer vision]}, Application {Predictive maintenance and machinery inspection, Material movement, Production planning, Field services, Quality control, Cybersecurity, Industrial robots, Reclamation}, Digital Twin {Technology [Internet of Things (IOT), Blockchain, Artificial intelligence & machine learning, Artificial intelligence & machine learning, Big data analytics, 5G], Usage Type [Product digital twin, Process digital twin, System digital twin], Application [Product design & development, Performance monitoring, Predictive maintenance, Inventory management, Business optimization, Others]}, Automated Guided Vehicles (AGV) {Type [Tow vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks, Others], Navigation Technology [Laser guidance, Magnetic guidance, Inductive guidance, Optical tape guidance, Vision guidance, Others]}, Machine Condition Monitoring {Monitoring Technique [Vibration monitoring, Embedded systems, Vibration analyzers and meters, Thermography, Oil analysis, Corrosion monitoring, Ultrasound emission, Motor current analysis], Offering [Hardware – Vibration sensors, Accelerometers, Tachometers, Infrared sensors, Spectrometers, Ultrasound detectors, Spectrum analyzers, Corrosion probes], Software [Data integration, Diagnostic reporting, Order tracking analysis, Parameter calculation], Deployment Type [On-premises deployment, Cloud deployment], Monitoring Process [Online condition monitoring, Portable condition monitoring]})IndustryManufacturing, Automotive, Energy, Medical, Semiconductor & Electronics, Food & Beverage, Oil & Gas, Aerospace, Metals & Mining, Chemicals, and OthersRequest Free Customization of this report:
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Internet of Things (IoT) Technology to Remain Indispensable for Industry 4.0
Internet of Things (IoT) remains the most crucial technology in global Industry 4.0 market growth owing to its role in interconnectivity and automation across different verticals. Advancements in connectivity technologies and rising use of automation in different industry verticals are also estimated to help this sub-segment gain an impressive market share. Surging demand for predictive maintenance will also boost the adoption of IoT technology in the long run.
Advanced robotic technologies are also slated to gain traction in the Industry 4.0 market. Growing acceptance of robots and high investments in advancements of robotic technologies are also slated to create new opportunities for providers of advanced robotics in the Industry 4.0 market. The low margin of error and the immense scope of automation are key benefits of robotics that help this sub-segment flourish.
Artificial intelligence (AI) will be another popular technology in the Industry 4.0 world going forward. Increasing demand for continuous monitoring, real-time analytics, and predictive maintenance are slated to help the demand for artificial intelligence in the future. The rising use of IoT devices will also boost the demand for cloud computing technology in the long run.
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Manufacturing Vertical to Spearhead Industry 4.0 Market Development
The manufacturing vertical is estimated to be at the forefront when it comes to Industry 4.0 adoption. The surge in use of robotics, advanced technologies, and smart manufacturing practices sets the tone for Industry 4.0 in this industry vertical. High emphasis on improving manufacturing efficiency, reducing downtime, and maximizing profits are all contributing to the high market share of this sub-segment.
The automotive industry is another vertical where Industry 4.0 market players could invest to get good returns. The high adoption of advanced robotics and other smart manufacturing technologies to maximize production allows this sub-segment to become a crucial one for Industry 4.0 providers. The aerospace and defense industry vertical also shows a lot of promise for Industry 4.0 companies going forward. Growing demand for advanced manufacturing techniques and technologies to create complex aerospace components is helping Industry 4.0 market growth via this segment.
The oil & gas industry is also estimated to embrace Industry 4.0 trend with open hands as they try to improve their operations and promote better resource utilization. High demand for predictive maintenance to reduce downtime and the growing adoption of digital oilfield solutions are estimated to bolster Industry 4.0 market development in the long run.
To sum it up, the application scope for Industry 4.0 is endless as automation and digitization pick up pace around the world. High investments in development of IoT and AI technologies will create better opportunities for Industry 4.0 companies in the future. The manufacturing industry will remain the top revenue generating sub-segment and more opportunities for aerospace, automotive, and oil & gas verticals will be seen over the coming years.
Related Report:
Digital Twin Market
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Artificial Intelligence (AI) Market
Internet Of Things (IoT) Market
Machine Learning Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact: Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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Artificial Intelligence
Generative AI Cybersecurity Market worth $40.1 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2024 /PRNewswire/ — The Generative AI cybersecurity Market is anticipated to experience substantial expansion, ascending from a value of USD 7.1 billion in 2024 to a substantial worth of USD 40.1 billion by the year 2030, according to a new report by MarketsandMarkets™. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 33.4% over the forecast period.
Browse in-depth TOC on “Generative AI cybersecurity Market”
350 – Tables 60 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Million)
Segments Covered
Offering, Generative AI-based Cybersecurity, Cybersecurity for Generative AI, Security Type, End-user, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), SentinelOne (US), AWS (US), NVIDIA (US), Cisco (US), CrowdStrike (US), Fortinet (US), Zscaler (US), Trend Micro (Japan), Palo Alto Networks (US), BlackBerry (Canada), Darktrace (UK), F5 (US), Okta (US), Sangfor (China), SecurityScorecard (US), Sophos (UK), Broadcom (US), Trellix (US), Veracode (US), LexisNexis (US), Abnormal Security (US), Adversa AI (Israel), Aquasec (US), BigID (US), Checkmarx (US), Cohesity (US), Credo AI (US), Cybereason (US), DeepKeep (Israel), Elastic NV (US), Flashpoint (US), Lakera (US), MOSTLY AI (Austria), Recorded Future (US), Secureframe (US), Skyflow (US), SlashNext (US), Snyk (US), Tenable (US), TrojAI (Canada), VirusTotal (Spain), XenonStack (UAE), and Zerofox (US).
This dramatic surge is being fueled by a number of causes. The primary growth driver is the enhancement of existing cybersecurity tools through generative AI algorithms by improving anomaly detection, automating threat hunting and penetration testing, and providing complex simulations for security testing purposes. These techniques enable various cyber-attack scenarios that can be simulated using the Generative Adversarial Networks (GANs), thus enabling the development of better preparedness and response strategies. On the other hand, it requires special cyber security tools to protect generative AI workloads against unique vulnerabilities such as adversarial attacks, model inversions and LLM poisoning. These tools include differential privacy and secure multi-party computation that are integrated into AI systems for training and deployment data protection purposes.
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Generative AI apps security segment will account for largest market share during the forecast period.
The cybersecurity landscape is rapidly changing for generative AI apps, which are already making their way into chatbots, content creation tools like word processors, and personalized recommendation systems. According to McAfee, 55% of these programs have had security breaches. This highlights the dire need for stronger protective measures from unauthorized access. Several generative AI applications that use adversarial techniques to force the desired reaction out of intelligent machines.
Therefore, there is a pressing demand in the number of developers who ensure that such machines are made more robust through techniques like adversarially trained models and resistant architectures. Finally, the usage of secure enclaves plus hardware-based security measures is growing off late, mainly aimed at safeguarding vulnerable AI computations from being tampered with. For instance, OpenAI has very strict security rules meant to protect GPT models thereby ensuring data integrity and user privacy.
By end-user, government & defense sector is poised to account for larger market share in 2024.
Government as well as defense industries are increasingly resorting to generative AI for cyber security purposes due to the urgency of protecting sensitive information and national security. According to a recent CSIS report, AI is being integrated into the cybersecurity framework of 43% of government agencies which resultantly improves their ability to identify and counter threats. As an example, the United States Department of Defense has started using artificial intelligence (AI) based security solutions backed by generative AI that can create fictitious cyber-attacks, thereby providing them with enhanced preparedness against advanced types of threats.
This technology also helps these sectors handle and analyze large volumes of data more effectively, giving valuable insights that will enable them prevent or mitigate cyber threats. This trend demonstrates an increasing reliance on generative AI in fortifying cyber security measures so as to ensure that critical infrastructure and sensitive data remain secure in today’s intricate digital landscape.
By region, North America to hold the largest share by market value in 2024.
In 2024, North America will be the leading region based on market share due to its excellent technology infrastructure, substantial investments in AI-enabled cybersecurity and the presence of key players. Major cyber security research universities and tech companies such as Google, AWS, CrowdStrike, SentinelOne and IBM are present in this area, pushing them on the forefront of potent risk management technologies and generative AI tools for threat detection. For example, IBM’s security platform powered by AI has improved detection rates for threats up by 40%, thus proving the relevance of AI technology to enhancing cybersecurity.
Moreover, legislative instruments such as Cybersecurity Information Sharing Act (CISA) are being put in place to promote advanced cybersecurity technologies. As internet attacks continue getting more complicated, North American enterprises prefer generative artificial intelligence (AI), so as to enhance their safety measures pertaining to personal data and digital infrastructure.
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Top Key Companies in Generative AI cybersecurity Market:
The major players in the generative AI cybersecurity market include Palo Alto Networks (US), AWS (US), CrowdStrike (US), SentinelOne (US), and Google (US), along with SMEs and startups such as MOSTLY AI (Austria), XenonStack (UAE), BigID (US), Abnormal Security (US), and Adversa AI (Israel).
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