Industrial Cybersecurity Market
"Industrial Cybersecurity Market Forecasts to 2028 – Global Analysis By Security Type (Application Security, Cloud Security, Data Security), Deployment Type (Cloud, On-Premise), Organization Size (Large, SMEs) and By Geography "
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $15.81 BN |
|
Projected Year Value (2028) |
US $22.41 BN |
|
CAGR (2021 - 2028) |
6.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Industrial Cybersecurity Market is accounted for $15.81 billion in 2021 and is expected to reach $22.41 billion by 2028 growing at a CAGR of 6.4% during the forecast period. Industrial Cybersecurity is defined as a pool of technologies, software, and services to protect several components of the industrial infrastructure, including Field Controllers, Remote Terminal Units (RTUs), Programmable Logic Controllers (PLCs), Safety Instrument Systems, Data Historian, Supervisory Control and Data Acquisition (SCADA ) servers, Human-Machine Interface (HMIs), Engineering Workstations, Network Connections, and people from external threats and disruptions without hindering the operational continuity and the consistency of industrial processes.
Market Dynamics:
Driver:
Increasing Implementation of AI-based Industrial Robots
Due to the rising adoption of cloud-based industrial Control Systems (ICS)-as-a-service and industrial robots based on artificial intelligence platforms, amid industrial and engineering plants. Cybersecurity solutions are installed across industrial robots to secure them from cyber-attacks and make them run smoothly. According to the International Federation of Robotics, there were around a thousand industry robots deployed across the automotive industry, a thousand deployed across the electronic industry, and a thousand deployed across the metal and mining industry worldwide. According to the Robotic Industries Association (RIA) report, in 2018, around 422,000 units of industry robots shipped globally. With the growth in the adoption of industrial robots, the market is expected to boost during the forecast period.
Restraint:
Lack of Awareness and lack of professionals
The majority of the end-users are unacquainted with its services in emerging countries across the Asia Pacific, Middle East, Africa, and South America. Besides, the lack of professionals to build and operate industrial cyber security solutions across the developing countries, where cyber-attacks are increasing is expected to hamper the growth of the market. With the advancement of technologies, new threats have been created by security hackers. These new threats are quite complicated for traditional cyber security solutions to identify and mitigate.
Opportunity:
Stringent Releasing Rules and Regulations for Security of Industrial Control Systems
Several government organizations such as the Industrial Control Systems Cyber Emergency Response Team (ICS-CERT) and the National Institute of Standards and Technology (NIST) are continuously releasing security guidelines, rules and regulations, and standards for the security of industrial control systems. NIST has also introduced many security standards and guidelines that are commonly used to secure traditional IT systems. Some most prominent security standards applicable for industrial control systems are the ISA/IEC 62443 and the NIST SP 800-82. NCCIC and ICS-CERT save control system environments from emerging cyber threats. The Department of Homeland Security (DHS) and ICS-CERT has incorporated the Industrial Control Systems Joint Working Group (ICSJWG) to enable information sharing and reduce threats related to industrial systems.
Threat:
Lack of Consciousness & Criticality of Cyber Security
The industrial sector implements modern security technologies to prevent cyberattacks, but attackers develop new techniques and procedures to infiltrate these technologies. Investments in security defence and detection technologies help develop effective defence strategies; however, human errors are one of the key reasons for most breaches. These errors take place due to the lack of awareness among employees, which is putting the industrial sector at risk. Advanced cyber threats that are diverse in nature target particular vulnerabilities in networks and use these vulnerabilities to get an entry into enterprise networks. Advanced cyber threats have significantly increased over the last few years and have become a major security concern for the industrial sector. Additionally to implementing appropriate hardware and software-based protection tools, employee training should also be considered equally critical to completely secure industrial facilities from cyberattacks or cyber threats. Every employee who is a part of an organization poses a threat to the security in case of non-awareness of the associated risks. This makes cybersecurity training a critical factor for professionals to understand, identify, and avoid future threats before escalation. Training will also allow the workforce to practice safe business duties at the workplace. The figure provided below indicates some most sophisticated attacks on the ICS network.
Energy and Power segment is expected to be the largest during the forecast period
The energy and power industry is the most vulnerable to cyber-attacks, and as a result, it will account for the largest market share throughout the projection period. Increased digitalization in the energy and power sector has resulted in numerous economic benefits, including increased efficiency in energy usage reduction, faster processing, and so on.
The cloud security segment is expected to have the highest CAGR during the forecast period
Cloud security consists of many policies, procedures, technologies, and controls that protect the cloud-based system, data, and infrastructure from cyber threats and ensure compliance with the standards. Cloud security can be configured according to business requirements; it reduces manual configurations and administration overheads. Manufacturing companies are moving their data and operations to cloud applications to gain efficiency and agility. With the rapid adoption of SaaS applications and other cloud-based services, the popularity of cloud security solutions has increased significantly. Cloud security addresses both physical and virtual security across different service models of software, platform, and infrastructure. It is mainly implemented in governance, data protection, data encryption, endpoint control, IDS/IPS, vulnerability scanning, and IAM applications.
Region with highest share:
The Asia Pacific is projected to hold the highest market share. Asia Pacific comprises emerging economies such as China and India. These countries have the presence of a large number of small and medium-sized enterprises (SMEs), which collectively account for the employment of more than 70% of the total population in the countries. These SMEs provide growth opportunities to the providers of industrial cyber security solutions and services to customers from the manufacturing, transportation, and energy industries. Additionally, factors such as the increasing complexity of businesses, the growing trend of BYOD, as well as the rapid shift toward digitization and virtualization, are expected to encourage SMEs to adopt various industrial control solutions and services.
Region with highest CAGR:
North America is projected to have the highest CAGR. As the province is a fast-growing market in the advancements in technology. The operations of manufacturing and also the infrastructure. The innovative technologies of the early adopter and the home to a larger number of the providers of solutions have seen the growth of the market in this province. The province has also been expected to grow in the coming years and is expected to further grow in the next few years too in North America.
Key players in the market:
Some of the key players profiled in the Industrial Cybersecurity Market include ABB Group, Broadcom, Inc., Cisco Systems, Inc., Dell, Honeywell International, Inc., IBM Corporation, Kaspersky Lab, McAfee, Microsoft Corporation, Palo Alto Networks, Inc., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Startup Ecosystem, Symantec.
Key developments:
In February 2020: Cisco System, Inc. acquired Exablaze, an Australian based developer and manufacturer of advanced network devices. This acquisition assists the companies to improve the performance of security networks.
In June 2020: Broadcom Inc. launched BizOps, an advanced decision-making framework for industries. This solution would assist organizations in accelerating the decision-making process across numerous commercial and technology domains.
In February 2020: Rockwell Automation, Inc. completed acquisition of Kalypso, an Ohio-based company. The acquisition assisted Rockwell to develop and offer a full suite of security solutions across consulting, business process management, and enterprise technologies.
Security Types Covered:
• Application Security
• Cloud Security
• Data Security
• Endpoint Security
• Network Security
• Wireless Security
Deployment Types Covered:
• Cloud
• On-Premise
Organization Sizes Covered:
• Large
• Small and Medium-Sized Enterprises (SMEs)
Products Covered:
• Ethernet Switches
• Gateway
• Router
Solution & Services Covered:
• Solutions
• Services
Components Covered:
• Hardware
• Software
End Users Covered:
• Aerospace and Defense
• Automotive
• Banking, Financial Services and Insurance (BFSI)
• Chemicals & Manufacturing
• Defense/Government
• Electronics & Electrical
• Energy and Power
• Food and Beverages
• Healthcare
• Information & Technology & Telecom
• Oil and Gas
• Retail
• Transportation
• Utilities
• Water & Wastewater Treatment
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Industrial Cybersecurity Market, By Security Type
5.1 Introduction
5.2 Application Security
5.3 Cloud Security
5.4 Data Security
5.5 Endpoint Security
5.6 Network Security
5.7 Wireless Security
6 Global Industrial Cybersecurity Market, By Deployment Type
6.1 Introduction
6.2 Cloud
6.3 On-Premise
7 Global Industrial Cybersecurity Market, By Organization Size
7.1 Introduction
7.2 Large
7.3 Small and Medium-Sized Enterprises (SMEs)
8 Global Industrial Cybersecurity Market, By Product
8.1 Introduction
8.2 Ethernet Switches
8.3 Gateway
8.4 Router
9 Global Industrial Cybersecurity Market, By Solution & Services
9.1 Introduction
9.2 Solutions
9.2.1 Firewall, Antivirus
9.2.2 SCADA (Supervisory Control and Data Acquisition) Encryption
9.2.3 Security Information and Event Management (SIEM)
9.2.4 Unified Threat Management (UTM)
9.2.5 Data Loss Prevention (DLP)
9.2.6 Identity and Access Management (IAM)
9.2.7 Distributed Denial of Service (DDOS)
9.2.8 Intrusion Detection System/Intrusion Prevention System
9.2.9 Virtualization Security
9.3 Services
9.3.1 Professional Services
9.3.2 Managed Services
10 Global Industrial Cybersecurity Market, By Component
10.1 Introduction
10.2 Hardware
10.3 Software
11 Global Industrial Cybersecurity Market, By End User
11.1 Introduction
11.2 Aerospace and Defense
11.3 Automotive
11.4 Banking, Financial Services and Insurance (BFSI)
11.5 Chemicals & Manufacturing
11.6 Defense/Government
11.7 Electronics & Electrical
11.8 Energy and Power
11.9 Food and Beverages
11.10 Healthcare
11.11 Information & Technology & Telecom
11.12 Oil and Gas
11.13 Retail
11.14 Transportation
11.15 Utilities
11.16 Water & Wastewater Treatment
12 Global Industrial Cybersecurity Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 ABB Group
14.2 Broadcom, Inc.
14.3 Cisco Systems, Inc.
14.4 Dell
14.5 Honeywell International, Inc.
14.6 IBM Corporation
14.7 Kaspersky Lab
14.8 McAfee
14.9 Microsoft Corporation
14.10 Palo Alto Networks, Inc.
14.11 Rockwell Automation, Inc.
14.12 Schneider Electric SE
14.13 Siemens AG
14.14 Startup Ecosystem
14.15 Symantec
List of Tables
1 Global Industrial Cybersecurity Market Outlook, By Region (2020-2028) (US $MN)
2 Global Industrial Cybersecurity Market Outlook, By Security Type (2020-2028) (US $MN)
3 Global Industrial Cybersecurity Market Outlook, By Application Security (2020-2028) (US $MN)
4 Global Industrial Cybersecurity Market Outlook, By Cloud Security (2020-2028) (US $MN)
5 Global Industrial Cybersecurity Market Outlook, By Data Security (2020-2028) (US $MN)
6 Global Industrial Cybersecurity Market Outlook, By Endpoint Security (2020-2028) (US $MN)
7 Global Industrial Cybersecurity Market Outlook, By Network Security (2020-2028) (US $MN)
8 Global Industrial Cybersecurity Market Outlook, By Wireless Security (2020-2028) (US $MN)
9 Global Industrial Cybersecurity Market Outlook, By Deployment Type (2020-2028) (US $MN)
10 Global Industrial Cybersecurity Market Outlook, By Cloud (2020-2028) (US $MN)
11 Global Industrial Cybersecurity Market Outlook, By On-Premise (2020-2028) (US $MN)
12 Global Industrial Cybersecurity Market Outlook, By Organization Size (2020-2028) (US $MN)
13 Global Industrial Cybersecurity Market Outlook, By Large (2020-2028) (US $MN)
14 Global Industrial Cybersecurity Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2020-2028) (US $MN)
15 Global Industrial Cybersecurity Market Outlook, By Product (2020-2028) (US $MN)
16 Global Industrial Cybersecurity Market Outlook, By Ethernet Switches (2020-2028) (US $MN)
17 Global Industrial Cybersecurity Market Outlook, By Gateway (2020-2028) (US $MN)
18 Global Industrial Cybersecurity Market Outlook, By Router (2020-2028) (US $MN)
19 Global Industrial Cybersecurity Market Outlook, By Solution & Services (2020-2028) (US $MN)
20 Global Industrial Cybersecurity Market Outlook, By Solutions (2020-2028) (US $MN)
21 Global Industrial Cybersecurity Market Outlook, By Firewall, Antivirus (2020-2028) (US $MN)
22 Global Industrial Cybersecurity Market Outlook, By SCADA (Supervisory Control and Data Acquisition) Encryption (2020-2028) (US $MN)
23 Global Industrial Cybersecurity Market Outlook, By Security Information and Event Management (SIEM) (2020-2028) (US $MN)
24 Global Industrial Cybersecurity Market Outlook, By Unified Threat Management (UTM) (2020-2028) (US $MN)
25 Global Industrial Cybersecurity Market Outlook, By Data Loss Prevention (DLP) (2020-2028) (US $MN)
26 Global Industrial Cybersecurity Market Outlook, By Identity and Access Management (IAM) (2020-2028) (US $MN)
27 Global Industrial Cybersecurity Market Outlook, By Distributed Denial of Service (DDOS) (2020-2028) (US $MN)
28 Global Industrial Cybersecurity Market Outlook, By Intrusion Detection System/Intrusion Prevention System (2020-2028) (US $MN)
29 Global Industrial Cybersecurity Market Outlook, By Virtualization Security (2020-2028) (US $MN)
30 Global Industrial Cybersecurity Market Outlook, By Services (2020-2028) (US $MN)
31 Global Industrial Cybersecurity Market Outlook, By Professional Services (2020-2028) (US $MN)
32 Global Industrial Cybersecurity Market Outlook, By Managed Services (2020-2028) (US $MN)
33 Global Industrial Cybersecurity Market Outlook, By Component (2020-2028) (US $MN)
34 Global Industrial Cybersecurity Market Outlook, By Hardware (2020-2028) (US $MN)
35 Global Industrial Cybersecurity Market Outlook, By Software (2020-2028) (US $MN)
36 Global Industrial Cybersecurity Market Outlook, By End User (2020-2028) (US $MN)
37 Global Industrial Cybersecurity Market Outlook, By Aerospace and Defense (2020-2028) (US $MN)
38 Global Industrial Cybersecurity Market Outlook, By Automotive (2020-2028) (US $MN)
39 Global Industrial Cybersecurity Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) (US $MN)
40 Global Industrial Cybersecurity Market Outlook, By Chemicals & Manufacturing (2020-2028) (US $MN)
41 Global Industrial Cybersecurity Market Outlook, By Defense/Government (2020-2028) (US $MN)
42 Global Industrial Cybersecurity Market Outlook, By Electronics & Electrical (2020-2028) (US $MN)
43 Global Industrial Cybersecurity Market Outlook, By Energy and Power (2020-2028) (US $MN)
44 Global Industrial Cybersecurity Market Outlook, By Food and Beverages (2020-2028) (US $MN)
45 Global Industrial Cybersecurity Market Outlook, By Healthcare (2020-2028) (US $MN)
46 Global Industrial Cybersecurity Market Outlook, By Information & Technology & Telecom (2020-2028) (US $MN)
47 Global Industrial Cybersecurity Market Outlook, By Oil and Gas (2020-2028) (US $MN)
48 Global Industrial Cybersecurity Market Outlook, By Retail (2020-2028) (US $MN)
49 Global Industrial Cybersecurity Market Outlook, By Transportation (2020-2028) (US $MN)
50 Global Industrial Cybersecurity Market Outlook, By Utilities (2020-2028) (US $MN)
51 Global Industrial Cybersecurity Market Outlook, By Water & Wastewater Treatment (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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