ID: MRFR/ICT/2999-HCR | January 2023 | Region: Global | 100 Pages
Segmentation | |||||||||||||||||
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Companies Profiled | |
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Key Players | |
Schneider Electric (France) | |
Rockwell Automation (US) | |
Dell In | |
Bayshore Networks (US) | |
ABB Ltd (Switzerland) | |
Cisco Systems | |
Kaspersky Labs (Russia) | |
IBM Corporation (US) | |
Honeywell International Inc (US) |
Market Driving Forces | |
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Drivers | |
Increasing government funding towards secured centrally connected systems and increase in web-based applications. |
Market Overview:The Industrial Cyber Security Market is predicted to achieve approximately 23.7 USD billion by the year 2030. The global market has aimed to achieve a 5.1% CAGR during the forecasted period of 2021-2030. Geographically, the North American region is registered to generate the highest Industrial Cyber Security Market Growth for the forecast period of 2023 due to the better manufacturing process operations, advancements in technology, and industrial infrastructure in this region. Moreover, this region is the early adopter of innovative technology and has become the hub for a large number of industries. Along with that, the Asia-Pacific region is predicted to dominate the global Industrial Cyber Security Market for the forecast period due to their inclination to industrial automation, adoption towards cloud services, and increasing opportunities in emerging countries of the Middle East.
The Industrial Cyber Security Market is segmented on the basis of industries, solutions, organization size, and products. The components segment is further sub-segmented into Routers, Gateways, and Ethernet switches. Among all these sub-segments, Routers and Ethernet switches are generating the largest market share for the Industrial Cyber Security Market. The demand for the Industrial Cyber Security Market is increasing due to the increasing operation process of plants to get the sensitive data and the increasing breaches in the security targeting the industries infrastructure. Moreover, the global market is growing its demand due to the internet penetration and IoT, usage of gateways, and the advancements in connected systems. Several funds are getting raised by various government organizations to increase the web-based application and tackle the security breaches situation for better, safer, and easier data transmission over the secured networks. The Industrial cybersecurity demand is increasing across various regions for its designed plants in the industries and the secured operation of machines concerning the hardware and network solutions, network security, and industrial control systems. Moreover, the Industrial Cyber Security Industry is gaining more popularity due to its operation by machines like power plants, robotics, and other energy-related systems.
The Industrial Cyber Security Industry report has highlighted the overall performance of the global market for the forecast period. Moreover, this report has highlighted the COVID 19 analysis by focusing on its affected global products and services and increased sales. This report has explained the Industrial Cyber Security Market’s recent developments and competitions to understand the increasing investments and innovations in the companies and increasing investment in research and development. Apart from that, the report has also explained the regional analysis, market dynamics, competitive analysis, and segmental overview to understand the restraints and growth opportunities in the upcoming years.
COVID-19 Impact Analysis:The Industrial Cyber Security Market has gained more popularity in the global pandemic as it has increased its demand for industrial cybersecurity products. Machines like power plants, robotics, and other energy-related systems have mostly demanded industrialists. Moreover, the increasing breaches in the security targeting the industries infrastructure during the lockdown have increased the demand for the Industrial Cyber Security Market.
However, the increasing demands of the services required more key players in the global market to bring more global opportunities for the forecast period. Further, the key players have implied various ideas and strategies for enhancing market growth.
Global Market Dynamics:Market Key Driver The demand for the Industrial Cyber Security Market is increasing due to the increasing operation process of plants to get the sensitive data and the increasing breaches in the security targeting the industries infrastructure. Moreover, the global market is growing its demand due to the internet penetration and IoT, usage of gateways, and the advancements in connected systems.The ICS Market report explains that the global market it’s increasing its productivity and sales due to several driving factors and is further predicted to meet its goal for the reviewed period.
Hence, the increasing cyber-attacks in the industries are growing investment in research and development for the Industrial Cyber Security Market.
Regional Overview:According to the regional overview, the Industrial Cyber Security Market is studied in some of the top-performing regions such as Asia-Pacific, South America, Europe, North America, and other parts of the world.
The North American region is registered to generate the highest Industrial Cyber Security Market Growth for the forecast period due to the better manufacturing process operations, advancements in technology, and industrial infrastructure in this region. Moreover, this region is the early adopter of innovative technology and has become the hub for a large number of industries. Along with that, the Asia-Pacific region is predicted to dominate the global Industrial Cyber Security Market for the forecast period due to their inclination to industrial automation, adoption towards cloud services, and increasing opportunities in emerging countries of the Middle East.
Competitive Analysis:In the Global Industrial Cyber Security Market, some of the top key players are:
The key players are thriving the Industrial Cyber Security Business growth by implementing appropriate solutions to its challenges.
Report Overview:The Industrial Cyber Security Industry report has highlighted the overall performance of the global market for the forecast period. Moreover, this report has highlighted the COVID 19 analysis by focusing on its affected global products and services and increased sales. This report has explained the Industrial Cyber Security Market’s recent developments and competitions to understand the increasing investments and innovations in the companies and increasing investment in research and development. The report has also explained the regional analysis, market dynamics, competitive analysis, and segmental overview to understand the restraints and growth opportunities in the upcoming years.
Segmental Table:By-Products:
By Solutions:
By Organisation Size:
By Industries:
Report Attribute/Metric | Details |
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Market Size | USD 23.7 billion |
CAGR | 5.1% |
Base Year | 2020 |
Forecast Period | 2021-2030 |
Historical Data | 2019 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product, solution |
Geographies Covered | North America, Europe, Aisa Pacific |
Key Vendors | Schneider Electric (France) Rockwell Automation (US) Dell In Bayshore Networks (US) ABB Ltd (Switzerland) Cisco Systems Kaspersky Labs (Russia) IBM Corporation (US) Honeywell International Inc (US) |
Key Market Opportunities | Moreover, the increasing importance of cloud-based ICS-as-a-service can bring more opportunities for the global market. |
Key Market Drivers | The demand for the Industrial Cyber Security Market is increasing due to the increasing operation process of plants to get the sensitive data and the increasing breaches in the security targeting the industries infrastructure. |
The global Industrial Cyber Security Market will be valued at USD 23.7 billion by 2030. The global Industrial Cyber Security Market is estimated to witness substantial growth during the forecast period
Some of the key market leaders are IBM Corporation (US), ABB Ltd (Switzerland), Honeywell International Inc (US), Cisco Systems, Schneider Electric (France), Dell In, Bayshore Networks (US) Rockwell Automation (US), and Kaspersky Labs (Russia).
The industrial cyber security market is poised to expand at 5.1% CAGR.
The segments identified on the basis of product are router, gateway, and Ethernet switches.
The industry-based segments of the industrial cyber security market are manufacturing, transportation, power grid, and oil & gas.