Industrial Cybersecurity Market Size to Reach US$ 25.6 Billion by 2028 | IMARC Group
The global industrial cybersecurity market size reach US$ 25.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.44% during 2023-2028.
NY 11249, BROOKLYN, UNITED STATES, June 26, 2023/EINPresswire.com/ — According to the latest report by IMARC Group, titled, “Industrial Cybersecurity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global industrial cybersecurity market size reached US$ 16.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.44% during 2023-2028.
Industrial cybersecurity involves safeguarding industrial control systems (ICS) and critical assets against cyber threats, aiming to ensure the protection of power transmission and distribution lines, manufacturing plants, automation systems, healthcare infrastructure, communication networks, defense production facilities, critical installations, and transportation systems. It consists of various security measures, including access control, network security, endpoint protection, incident detection and response, vulnerability management, monitoring, and data security. Industrial cybersecurity ensures safe and reliable industrial operations, secure communication, and prevention of potential disruptions, unauthorized access, data breaches, and sabotage. It even helps to mitigate vulnerabilities, establish appropriate security controls, protect national security interests, and contain industrial accidents. As a result, industrial security finds extensive applications across numerous sectors, such as automotive, transportation, aerospace, defense, chemical, oil and gas, manufacturing, telecommunication, etc.
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Industrial Cybersecurity Market Trends and Drivers:
The industrial cybersecurity market is driven by the increasing frequency of cyberattacks and threats targeting critical infrastructures. Moreover, the rapid usage of Industrial Internet of Things (IIoT) devices for improving operational efficiency creates a demand for robust industrial cybersecurity solutions to secure interconnected devices and enable seamless communication, and the growing demand for cloud-based solutions, which offer scalability, accessibility, security, automatic updates, disaster recovery, and real-time data processing benefits are acting as significant growth-inducing factors. Apart from this, the incorporation of machine learning (ML) and artificial intelligence (AI) techniques to improve threat detection and response, anomaly identification, and cybersecurity automation is further stimulating the market growth. Additionally, the emerging trend of adopting blockchain technologies to enhance transaction security, supply chain operations, and data sharing is also positively influencing the global market. Besides this, the implementation of stringent government regulations aimed at promoting cybersecurity solutions adoption across industries and enhancing the security of critical infrastructures crucial to the economy supports market growth, and the expanding digitalization efforts will continue to bolster the industrial cybersecurity market over the forecasted period.
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Industrial Cybersecurity Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
ABB Ltd.
AO Kaspersky Lab
Check Point Software Technologies Ltd.
Cisco Systems Inc.
Dell Technologies Inc.
Honeywell International Inc.
International Business Machines Corporation
OPSWAT Inc.
Proofpoint Inc.
Rockwell Automation Inc.
Schneider Electric SE
Siemens AG, etc.
The report has segmented the market based on component, security type, and industry.
Component Insights:
Product
Solutions and Services
Security Type Insights:
Network Security
Cloud Application Security
End-Point Security
Internet Security
Others
Industry Insights:
Process
Oil and Gas
Chemical
Food and Beverages
Energy and Power
Others
Discrete
Automotive
Electronics
Heavy Manufacturing
Packaging
Others
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
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Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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