Westford, USA, Nov. 15, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global critical infrastructure protection market size will attain a value of USD 160.62 Billion by 2031, with a CAGR of 3.67% during the forecast period (2024-2031). The increasing apprehension regarding cyber threats is driving various companies to implement critical infrastructure protection solutions and services. Furthermore, government initiatives have been promoting collaboration efforts in the name of cyber security, which is increasing the critical infrastructure protection market growth.
Recent technological advancements like pioneering network security and infrastructure management supported by increased R&D are also propelling this market expansion. The sector is expanding quickly in response to rising dangers, including cyberattacks and geopolitical hazards. Growth in industries including energy, telecommunications, and government facilities is driving demand for security solutions. The increase in physical and cyber threats on critical infrastructure, that is driving the market growth. Moreover, technology innovations in AI, cloud, and IoT are increasing the efficiency of protection technologies, leading to the critical infrastructure protection market.
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Critical Infrastructure Protection Market Report Overview (2024 -2031):
| Report Coverage | Details |
| Market Revenue in 2023 | $120.38 Billion |
| Estimated Value by 2031 | $160.62 Billion |
| Growth Rate | Poised to grow at a CAGR of 3.67% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Solution, Security, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing initiatives by government towards protection of critical infrastructure |
| Key Market Opportunities | Rising adoption of industry 4.0 |
| Key Market Drivers | High risk of cyber and terrorist attacks |
Critical Infrastructure Protection Market Segmental Analysis
The Global Critical Infrastructure Protection Market is segmented based on Component, Solution and Security.
Based on Component, the market is bifurcated into Solution and Service. Based on the Solution, the market is divided into Physical Safety & Security and Cybersecurity.
Based on Security, the market is segmented into Operational Technology and Information Technology.
Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa.
Increasing Digitization in Private and Government Facilities to Increase Prominence of Solution Segment
By type, the solution segment dominating with the largest critical infrastructure protection market share in 2023. This segment is expected to gain prominence owing to the increasing digitization in both private and government organizations across various industries, surging reliance on computing technology and a shift towards implementing efficient security solutions to prevent potential threats from cyberthreats and data breach. Due to this, there is an increase in demand for software and hardware solutions as it offers a comprehensive strategy to secure critical infrastructure and helps combat cyberattacks better. It helps organizations in tackling various cyber security needs and the segment.
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Growing Risk of Cyber Threat with Technological Advancement to Increase Demand for Cybersecurity
The cybersecurity segment is likely to see the fastest growth during the critical infrastructure protection market forecast duration. This part consists of encryption, network access controls and firewalls, threat intelligence, and more. With the prevalence of smart devices with IoT and technological advancement, the risk of cyber threats is exacerbated. These critical infrastructures span across banking & finance, defense & national security, healthcare, water and food & grocery products and distribution networks, data & cloud space technology transport communication sectors among others. Technologies such as AI, big data analytics and machine learning have been instrumental in scaling this segment over the past few years.
Increasing Demand for Strict Regulations for Cybercrime to Boost Market Growth in North America
North America is dominating the critical infrastructure protection industry. Increasing cybercrimes and attacks along with rising demand of stringent regulations in the public and private sector from the various governments of the countries across the region is expected to drive market growth. Moreover, increasing investments in public safety are expected to create opportunities for key market players. CIP market caters R&D from both the business and technical perspectives in various end-use industries operating in the cybersecurity industry which provides lucrative growth for both. Previous experiences of cyber-attacks on critical infrastructure networks associated with countries like the U.S. and Canada motivate countries to implement or design successful critical infrastructure protection solutions in companies
Critical Infrastructure Protection Market Insights
Drivers
- Rapid increase of smart city projects
- Increasing risk of cyber and terrorist attacks
- Growing initiatives by government towards protection of critical infrastructure
Restraints
- High complexities in creating partnership among private business and government
- High cybersecurity vulnerabilities in interconnected infrastructure
- Lack of skilled cybersecurity workforce
Key Players Operating in Critical Infrastructure Protection Market
- BAE Systems (US)
- Lockheed Martin (US)
- General Dynamics (US)
- Northrop Grumman (US)
- Honeywell (US)
- Airbus (France)
- Thales (France)
- Hexagon AB (Sweden)
- Johnson Controls (US)
- Motorola Solutions (US)
- Axis Communications (Sweden)
- Forcepoint (US)
- Fortinet (US)
- Cisco (US)
- Huawei (China)
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Key Questions Answered in Critical Infrastructure Protection Market Report
- Who are the major market players in the market?
- Which region holds the highest share in the market?
- Which factors are refraining the growth of the market?
Analysis of key drivers (rapid increase of smart city projects, increasing risk of cyber and terrorist attacks), restraints (high complexities in creating partnership among private business and government, high cybersecurity vulnerabilities in interconnected infrastructure), opportunities (growing initiatives by government towards protection of critical infrastructure), and challenges (lack of skilled cybersecurity workforce) influencing the growth of critical infrastructure protection market
- Market Penetration: Comprehensive information on the product offered by the top players in the critical infrastructure protection market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the critical infrastructure protection market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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SkyQuest Technology
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Massachusetts 01886
USA (+1) 351-333-4748
Email: [email protected]
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