DUBLIN--(BUSINESS WIRE)--The "Industrial Cybersecurity Market, By Security Type, By Product Type, By Solution, By Organization Size, By End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global industrial cybersecurity market is expected to reach USD 26.92 Billion by 2030, according to a new report. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2030.
Companies Mentioned
- IBM Corporation
- ABB Ltd.
- Cisco Systems Inc.
- Honeywell International Inc.
- Siemens AG.
- Schneider Electric SE
- Dell Inc.
- Symantec Corporation
- AO Kaspersky Lab.
- Rockwell Automation Inc.
The industrial cybersecurity market is primarily driven by the increasing number of cyber-attacks on critical infrastructure and industrial facilities. In addition, the growing need to protect process control systems, SCADA systems, and other industrial control systems from cyber threats is expected to fuel the growth of the industrial cybersecurity market. However, the lack of awareness about industrial cybersecurity among small and medium enterprises is expected to restrain the growth of the market.
Industries are the backbone of a nations' economy and the loss suffered by industries as a result of industrial cyber-attacks can be detrimental to a nation's growth. In order to secure industrial control systems from cyber-attacks, industries are investing in industrial cybersecurity solutions.
One of the major drivers for the growth of industrial cybersecurity market is the increasing number of cyber-attacks on industries. In recent years, there has been a surge in the number of cyber-attacks on industrial facilities and this is expected to drive the growth of industrial cybersecurity market. Another driver for the growth of industrial cybersecurity market is the stringent government regulations regarding industrial safety. Industries are required to comply with various government regulations, such as the North American Electric Reliability Corporation's (NERC) critical infrastructure protection (CIP) standards, which are driving the growth of industrial cybersecurity market.
High cost involved in doing innovations in industrial cyber security and dearth of technical expertise are the major restrainers for the growth of industrial cyber security market. Also, high initial investment and stringent regulations are hindering the growth of industrial cybersecurity market. However, increase in awareness among industries about operational technology and need for secure communications network is providing new opportunities for the growth of industrial cybersecurity market.
Further key findings from the report suggest
- By component, the market is segmented into hardware, software, and services. The software segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing adoption of industrial cybersecurity solutions by industries in order to secure their industrial control systems from cyber-attacks.
- By solution, the market is segmented into network security, application security, database security, endpoint security, and others. The network security segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing need for network security solutions in order to secure industrial control systems from cyber-attacks.
- By service, the market is segmented into professional services and managed services. The professional services segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing demand for professional services, such as consulting, training, and support & maintenance, from industries in order to secure their industrial control systems from cyber-attacks.
- By deployment type, the market is segmented into on-premises and cloud. The on-premises segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing adoption of on-premises deployment models by industries in order to secure their industrial control systems from cyber-attacks.
- By industry vertical, the market is segmented into energy & utilities, oil & gas, manufacturing, transportation, and others. The energy & utilities segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing need for industrial cybersecurity solutions in the energy & utilities industry in order to secure industrial control systems from cyber-attacks.
- North America would be the region to hold the largest share of the market and would grow at a rate of CAGR 8.35% during the forecast period due to the early adoption of industrial automation technologies and the presence of major market players in this region.
For the purpose of this report, the author have segmented global industrial cybersecurity market on the basis of product, solutions, industry, size of organization and region:
Security Type Outlook (Revenue, USD Billion; 2019-2030)
- Network Security
- Application Security
- Endpoint Security
- Wireless Security
- Cloud Security
- Others
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Ethernet Switches
- Gateway
- Router
- Others
Solutions Outlook (Revenue, USD Billion; 2019-2030)
- Firewall
- Antivirus
- Distributed Denial of Service (DDoS)
- SCADA encryption
- Security Information and Event Management (SIEM)
- Unified Threat Management (UTM)
- Data Loss Prevention (DLP)
- Identify and Access Management (IAM)
- Others
Size of Organization Outlook (Revenue, USD Billion; 2019-2030)
- Small & Medium-sized Enterprises
- Large Enterprises
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Manufacturing and Chemical
- Oil and gas
- Transportation
- Power Grid
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/95ld2i
