Industrial Cyber Security Market- Size, Trends, Growth, Industry Analysis, Share and Forecast to 2027
Market Highlights
In its research report, Market Research Future (MRFR),
emphasizes that the global industrial cybersecurity market 2020 is expected to
grow exponentially over the review period, securing a substantial market
valuation of USD 24 billion and a healthy 10% CAGR over the review period.
Drivers and
Restraints
Costs and infrastructure associated with cybersecurity,
however, are obscurely substantial due to which management is faced with a
tough decision at their side. Companies often tend to have an in-house
cybersecurity division, but the innovation costs are high. This element could
stand in the way of global market growth.
Cyber protection, as technology is gaining tremendous
traction in the industrial sector as M2 M Communication is increasing.
Industrial Information Security's global demand is primarily driven by the
growing adoption of M2 M Communication telematics services. In addition, rising
demand for Industrial Cyber Security systems is due to the growing threats of
cyber-attacks in Industrial Systems; is fostering the growth of the Industrial
Cyber Security sector. The rising instances of cyber-attacks have led to
industrial-level interference by governments. The governments are developing a
fund to avoid these cases from ensuring that their country's commercial
cyberspace remains protected. And this government intervention will push the
machine safety market over the review period.
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Regional Analysis
The geographical analysis of the global market has been
conducted in four major regions, including the Asia Pacific, North America,
Europe, and the rest of the world (Latin America, the Middle East, and Africa).
The Information Security Industrial Market is divided
into four major regions, such as North America, Europe, Asia Pacific, and the
rest of the world. The growth of the cyber security market in North America is
higher from these geographies in terms of technological developments,
manufacturing process operations, and better industrial infrastructure. North
America is the center for a large number of industries and because of the early
acceptance of new technologies by all the regions. Several governments and
large organizations raise funds to resolve security vulnerabilities and
increase web-based software adoption for more connected devices for easier and
safer transmission of data over the secured networks. Industrial cybersecurity
faces multiple threats, and the biggest challenge to date is IoT and connected
devices vulnerability. The Industrial cyber security market is anticipated to
develop at a higher pace each year as the technology for connected devices is
on boom via a central management system and more connected devices are rising
significantly each year. However, Asia – pacific is following the lead due to
increasing opportunities in emerging Middle East countries, their adoption of
cloud services, demand for digitalization market for data processing, and
inclination to industrial automation. Also, the emerging economies like India,
China, and Japan contribute substantially to the overall market share.
Segmentation:
The global industrial cybersecurity market is segmented
based on products, solutions, industries, and organization size.
The market, based on the product, the market is segmented
into gateway, router, ethernet switches.
The market based on solutions is segmented into
antivirus, firewall, DDoS, Data Loss Prevention, and SCADA.
The market based on the organization size is bifurcated
into large and SMEs.
The market based on the industries is segmented into
manufacturing, transportation, power grid, oil, and gas.
Competitive Analysis
The major market players operating in the global market
as identified by MRFR are Rockwell Automation (US), IBM Corporation (US), ABB
Ltd (Switzerland), Honeywell International Inc (US), Cisco Systems, Schneider
Electric (France), Dell In, Bayshore Networks (US) and Kaspersky Labs (Russia).
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Industrial
Cyber Security Market, By Product (Gateway, Routers and Ethernet switches), By
Solutions (Antivirus, firewall, DDOS, Data loss Prevention (DLP) and SCADA), By
Organization Size (Large & SME’s), By Industries (Manufacturing,
Transportation, Power grid, Oil & Gas) and By Region (North America,
Europe, APAC and Rest of the World)
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