Industrial Cyber Security Market Growth and Analysis, Industry Trends, Size, Shares, Forecast to 2023

Market Highlights:

The Industrial Cyber Security market is projected to reach approximately 24.41 USD billion with 10.97% CAGR during the forecasted period of 2017– 2023. Industrial cyber security solutions are designed to safeguard industrial environments from cyber threats. Industrial cyber security market is a highly dynamic area of concern. It includes the software and hardware solutions, industrial control systems, and network security. These cyber security solutions deal with secured operation of machines and plants in industries.

Growing adoption of Internet of Things (IoT) in industrial control systems; Increasing adoption of cloud security solutions; rising number of cyber-crime related incidents in different end-use industries such as aerospace and defense, oil and gas, and automotive sector; along with rise in internet penetration globally has led to the augmentation of the cyber security market. Furthermore, rise in Bring your own Device (BYOD) applications is one of the main factors responsible for the market growth over the forecast period. Many government organizations are raising funds to tackle the situation of security breaches and increase in the web-based application for a more number of connected devices for easier and safer transmission of data over the secured networks.

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Major Key Players

  • IBM Corporation (US),
  • Honeywell International Inc (US),
  • ABB ltd (Switzerland),
  • Cisco Systems,
  • Schneider Electric (France),
  • Rockwell Automation (US),
  • Dell Inc,
  • Bayshore Networks (US)
  • Kaspersky labs (Russia).

According to MRFR, The Industrial Cyber Security market is expected to reach approximately 24.41 USD billion by the end of 2023 with 10.97 % CAGR during the forecasted period from 2017 – 2023.

Segmentation:

The Industrial cyber security market is segmented into four major regions such as North America, Asia pacific, Europe and Rest of the world. Out of these geographies, the growth of cyber security market is higher in North America in the terms of advancements in the technology, manufacturing process operations and better industrial infrastructure. Among all the regions North America is the hub for a large number of industries and due to early adoption of innovative technology. However, Asia – pacific is following the lead because of increasing opportunities in emerging countries of Middle East, their adoption towards cloud services, demand for digitalization demand for data management and inclination to industrial automation. Also the emerging economies like India, China and Japan contribute more towards the overall market share.

Regional Analysis

The Cyber Security market growth is higher in North America in the terms of advancements in technology, manufacturing process operations and industrial infrastructure. Among all the regions North America is the hub for a large number of industries and due to early adoption of innovative technology. Also, Asia – pacific is following the lead because of increasing opportunities in emerging countries of Middle East, their adoption towards cloud services and inclination to industrial automation.

Many government organizations are raising funds to tackle the situation of security breaches and increase in the web based application for a more number of connected devices for easier and safer transmission of data over the secured networks. On the basis of industries, Transportation industry is prone to cyber threats due to increase in the Whole connected systems rather than standalone systems followed by power grid.

Industrial cyber security is a highly growing and dynamic area of concern including the industrial control systems, network security, the hardware and the network solutions which is designed for the secured operation of machines and plants in the industries. It manages, monitors and look up to everything connected centrally and operated by machines like robotics, power plants and other energy related systems.

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Intended Audience

  • Device manufacturers
  • Network Operators
  • Network Security providers
  • Distributors
  • Suppliers
  • Research firms
  • Software Developers
  • IT enablers
  • Vendors
  • Government
  • Vendors

TABLE OF CONTENTS

1 Market Introduction

1.1 Introduction

1.2 Scope Of Study

1.2.1 Research Objective

1.2.2 Assumptions

1.2.3 Limitations

1.3 Market Structure

2 Research Methodology

2.1 Research Industrial Cyber Security

2.2 Primary Research

2.3 Secondary Research

2.4 Forecast Model

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