Industrial Cybersecurity Market worth $20.1 billion by 2027 – Exclusive Report by MarketsandMarkets™
CHICAGO, March 1, 2022 /PRNewswire/ — According to the new research report, the “#Industrial Cybersecurity Market by Security Type (Network, Endpoint, Application, Cloud, Wireless), Offering (Products and Services), End-user (Power, Utilities, Transportation, Chemicals & Manufacturing), and Region – Global Forecast to 2027“, published by MarketsandMarkets™, the #market size was valued at USD 16.2 billion in 2022 and was expected to reach USD 20.1 billion by 2027; it is expected to grow at a CAGR of 4.4% from 2022 to 2027.
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The major factors driving the growth of industrial cybersecurity market are rising investments by governments and private organizations worldwide to create safe and secure industrial environment. However, several factors, such as lack of awareness about best practices and criticality of cybersecurity in industrial control systems can act as a key challenge in the market during the forecast period.