Italy AI in Cybersecurity Market Report and Forecast 2024-2032

Italy AI in Cybersecurity Market Size

The Italy AI in cybersecurity market is projected to grow at a CAGR of 16.54% between 2024 and 2032.

Italy AI in Cybersecurity Market Outlook

• Italy retained its fourth position globally and first in Europe for cyberattacks in 2022, states the International Trade Administration.

• The Italian Cybersecurity Association (CLUSIT) reported nearly 13,000 significant cyberattacks managed by the Postal and Communications Police (CNAIPIC) in 2022.

• Growing number of AI-related start-ups is further increasing the adoption of solutions in the country and providing several AI in the cybersecurity market opportunities.

Italy AI in Cybersecurity Market Growth

Endpoint security, categorized by security type, enhances solutions by identifying and thwarting a range of threats like malware, ransomware, and phishing attacks at the individual device level (laptops, desktops, smartphones, etc.) thus increasing the Italy AI in cybersecurity market value.

Endpoint Security ensures detection and prevention of threats such as malware, ransomware, and phishing. It enhances data protection by monitoring data flow, offers centralized management for consistent security policies, enables rapid incident response, aids in regulatory compliance, and supports secure remote access, crucial in today's environment.

Network Security provides traffic visibility, detecting and preventing cyber threats such as malware, intrusions, and unauthorized access. Encryption secures data during transit, optimizing performance by managing bandwidth and prioritizing applications which is increasing the demand of Italy AI in the cybersecurity market. Access controls ensure authorized resource utilization, while proactive threat identification minimizes downtime from attacks or malfunctions.

Italy AI in Cybersecurity Industry Outlook

In 2022, the Postal and Communications Police (CNAIPIC) handled around 13,000 major cyberattacks, more than twice as many as the previous year, according to the Italian Cybersecurity Association (CLUSIT). The Italy cybersecurity market is driven by investments from large companies. In 2024, 87% of Italian businesses anticipate raising their IT security budgets by 10%, according to the Cisco Readiness Index. The primary end-users of IT security are the financial/banking and utilities sectors, followed by the military, national and local public sectors, manufacturing, transportation, and telecommunication.

As per Italy AI in the cybersecurity industry analysis, a key element of Italy's digital transformation plan is cybersecurity. The government is taking action to strengthen efforts to mitigate cyber threats. To guard the nation's cyberspace, the National Cybersecurity Authority (ACN) was founded in June 2021. The agency performs inspection and sanctioning duties as well as advocating for a logical regulatory framework in the industry. ACN oversees the execution of Italy's digital agenda, which is outlined in the nation's first-ever cybersecurity strategy, which was unveiled in May 2022. Priorities of the strategy include security and innovation, with over 80 initiatives to be implemented by 2026, including some through public-private partnerships. The national strategy will be implemented with roughly USD 2.2 billion from the government, with an additional USD 11 million, USD 55 million, and USD 77 million set aside for relevant operational management operations in 2023, 2024, and 2025.

The venture capital arm of Italy's Cassa Depositi e Prestiti (CDP) announced in April 2024 a significant commitment of €1 billion over the following five years in cybersecurity and artificial intelligence, supporting the AI in the cybersecurity industry in Italy. The investment is in line with the larger objective of the Italian government, which was presented in March with the creation of an investment fund backed by CDP to support AI initiatives, as the chair of the G7, to prioritize the impact of AI on employment and inequality.

Recent Developments

In December 2023, TIM's cybersecurity division unveiled its Italian-designed semiconductor, a plug-and-play "security antibody," to bolster the safeguarding of national assets and digital sovereignty. Telsy, TIM's cybersecurity arm, introduced Italy's first wholly Italian semiconductor focused on security, aimed at promoting the nation's technological autonomy. It is designed to enhance digital security across strategic areas like public and private clouds, mobile devices, and defence systems.

Italy AI in Cybersecurity Industry Segmentation

“Italy AI in Cybersecurity Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Offering

• Hardware

• Solution

• Service

Market Breakup by Security Type

• Endpoint Security

• Network Security

• Cloud Security

• Application Security

Market Breakup by Deployment Mode

• Cloud

• On-Premise

Italy AI In Cybersecurity Market Breakup by Technology

• Machine Learning

• Context-aware Computing

• Natural Language Processing

Market Breakup by Industrial Vertical

• BFSI

• Automotive and Transportation

• Retail and E-Commerce

• Manufacturing

• Government and Defense

• Healthcare

• Others

Italy AI in the Cybersecurity Market Share

As per the Italy AI in cybersecurity market report, the banking and financial services industry (BFSI) is one of the most significant sectors that is frequently the target of data breaches and cyber-attacks because of the enormous client base it serves, and the financial information involved. A strategy to safeguard their IT processes and systems, protect sensitive client data, and adhere to legal requirements is being implemented by a number of public and private banking institutions in order to prevent cyberattacks which is aiding the growth of AI in the cybersecurity market.

The Growth of Italy AI in the Cybersecurity Market is Driven by Increasing Cyber Threats and Regulatory Requirements

• Increasing Cyber Threats: The rise in sophisticated cyber-attacks and threats, such as ransomware and phishing, drives the AI in the cybersecurity demand.

• Regulatory Requirements: Compliance with stringent data protection regulations, such as GDPR, necessitates advanced cybersecurity measures.

• Digital Transformation: The rapid digital transformation across various sectors, including finance and healthcare, boosts the need for robust AI-based cybersecurity solutions.

• Advanced Threat Detection: AI's ability to detect and respond to advanced and unknown threats in real-time enhances its adoption and propels the AI in the cybersecurity demand growth.

Challenges Impacting the Growth of the Italy AI in Cybersecurity Market Include High Implementation Costs and Skill Shortages

• High Implementation Costs: The initial costs of deploying AI-driven cybersecurity solutions can be high, which may deter some organizations.

• Skill Shortages: A shortage of skilled professionals with expertise in AI and cybersecurity can hinder AI in cybersecurity demand forecast in Italy.

• Data Privacy Concerns: Ensuring data privacy while leveraging AI technologies for cybersecurity is a significant challenge.

• Integration Issues: Integrating AI solutions with existing cybersecurity infrastructure and legacy systems can be complex and resource intensive.

Increasing Need of Cybersecurity in SMEs and Cloud Adoption are the Key Italy AI in Cybersecurity Market Trends

• SMEs: Increasing awareness and adoption of AI-driven cybersecurity solutions among small and medium-sized enterprises (SMEs) present significant growth opportunities.

• Cloud Adoption: As per the Italy AI in the cybersecurity market dynamics and trends, the growing adoption of cloud services and infrastructure drives the demand for AI-based cybersecurity solutions to protect cloud environments.

• IoT Security: The proliferation of Internet of Things (IoT) devices requires advanced AI-based cybersecurity measures to address vulnerabilities and protect connected devices.

• Threat Intelligence: Leveraging AI for threat intelligence and predictive analytics can enhance proactive cybersecurity measures and response capabilities and aid the Italy AI in cybersecurity market growth.

Setbacks Faced by the Italy AI in Cybersecurity Market Due to Economic Fluctuations and Regulatory Challenges

• Economic Fluctuations: Economic downturns can impact IT budgets and investments in advanced cybersecurity solutions and negatively impact the Italy AI in the cybersecurity market revenue.

• Regulatory Challenges: Navigating complex regulatory landscapes and ensuring compliance with data protection and cybersecurity standards can be challenging.

• Public Perception: Negative public perception and mistrust of AI technologies in cybersecurity can affect adoption rates.

• Evolving Threats: The constant evolution of cyber threats requires continuous updates and advancements in AI-driven cybersecurity solutions.

Competitive Landscape

The key players in the Italy AI in cybersecurity market are Samsung Electronics Co., Ltd., Amazon Web Services, Inc., Darktrace Holdings Limited, NCC Group Security Services, Inc., Veritas Technologies LLC, Sophos Ltd., Acronis International GmbH., HCL Technologies Limited, Palo Alto Networks, Inc. and Vectra AI, Inc. among others.

Strategic Initiatives of Key Players in the Italy AI in Cybersecurity Market:

IBM Corporation

• Advanced Solutions: Offering advanced AI-driven cybersecurity solutions, including threat detection and incident response.

• Research and Development: Investing in research and development to enhance AI capabilities and develop innovative cybersecurity technologies will propel the growth of the Italy AI in the cybersecurity market.

• Industry Collaboration: Collaborating with industry partners and organizations to improve cybersecurity standards and practices.

Palo Alto Networks

• Integrated Platforms: Providing integrated AI-powered cybersecurity platforms that offer comprehensive threat protection.

• Global Expansion: Expanding global presence through strategic partnerships and acquisitions in key regions.

• Education and Training: Offering cybersecurity education and training programs to address skill shortages and improve awareness.

Cisco Systems, Inc.

• Cloud Security: Focusing on AI-driven cloud security solutions to protect cloud infrastructures and services.

• Threat Intelligence: Leveraging AI for advanced threat intelligence and real-time threat detection and response will likely increase the Italy AI in the cybersecurity industry revenue.

• Customer Support: Enhancing customer support and services to ensure effective implementation and use of AI-driven cybersecurity solutions.

Check Point Software Technologies Ltd.

• Innovation: Investing in innovation to develop next-generation AI-based cybersecurity solutions, positively impacting the Italy AI in cybersecurity market.

• Market Penetration: Strengthening market penetration through targeted marketing and distribution strategies.

• Customization: Offering customized cybersecurity solutions to meet the specific needs of different industries and sectors.

Darktrace Holdings Limited

• Autonomous Response: Providing AI-driven autonomous response solutions that can detect and mitigate threats in real-time.

• Expansion: Expanding its presence in the Italian market through strategic partnerships and collaborations.

• AI Research: Continuously investing in AI research to stay ahead of emerging cyber threats and enhance solution capabilities is a key trend of Italy AI in the cybersecurity market.

Key Highlights of the Report

Italy AI in Cybersecurity Market Report Snapshots

Italy AI in Cybersecurity Market Size

Italy AI in Cybersecurity Market Growth

Italy AI in Cybersecurity Market Share

Italy AI in Cybersecurity Companies