The market for industrial cybersecurity is anticipated to grow at a CAGR of 7.7% from 2022 to 2032. The market for industrial cybersecurity is anticipated to reach a valuation of US$ 20.7 billion in 2022 and US$ 43.5 billion by 2032. The causes driving the rising demand for industrial cyber security products in the power industry are detailed in the excellent research from FMI.
Beginning in 2020, the epidemic created unprecedented confusion and disruption for businesses and people all across the world. It also wreaked havoc on the world economy. Most employees now have the option to work from home as a result of the epidemic, which presents operational challenges for businesses.
Millions of people’s lives have been made easier by the Internet of Things, which has made it much easier to complete challenging tasks. It offers a fresh method for handling, storing, and processing data in data centers and the cloud for modern businesses.
Request a Sample of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-14460
Because of too many sophisticated devices, interactions between customers, enterprises, and communication service providers vary. Numerous business practices can now be automated and modified thanks to them. The increasing prevalence of smartphones has led to an increase in networked devices that are cross-platform capable.
Due to the relative rarity of targeted attacks against automation systems and the overreliance on safety precautions, industrial company owners and their employees tend to underestimate current and potential hazards in the context of industrial control systems.
Industrial control systems protect against synthetic assaults. As a result, security products and software solutions are created without taking into consideration new dangers, the type of upcoming attacks, or a thorough review of the present threat environment. Real-world hazards are consequently underrated.
In the industrial sector, modern security technologies are utilized to prevent cyber-attacks, but attackers develop new tactics and procedures to get around them. Investments in security protection and detection technology support the creation of effective defensive strategies, yet human error remains one of the most frequent sources of breaches.
The industrial sector is at risk since these errors happen as a result of employees’ ignorance. Advanced cyberattacks come in a variety of designs, but they all focus on particular network flaws and take advantage of them to get access to corporate networks. Advanced cyber-attacks have increased significantly over the past few years, seriously compromising industrial sector security.
Along with implementing the correct hardware and software-based security measures, employee training should be seen as being equally crucial to adequately protect industrial facilities from cyber-attacks or cyber threats.
A sizable market share for industrial cyber security is anticipated for North America. The region’s development is mostly attributable to important industrial cyber security industry players. The North American industrial cyber security market is predicted to rise as key companies increase their investment to extend their global footprint.
KEY TAKEAWAYS:
- The hardware solutions from the industrial cyber security market are expected to grow at the fastest CAGR of 7.1% in the component sector.
- The discrete industry is expected to grow at a high rate in the end-use sector of the industrial cyber security market, with a CAGR of 7.6%.
- The market size for industrial cyber security in the United States is expected to reach US$ 9.7 Billion by 2032, growing at a CAGR of 7.3% during the research period.
- UK is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market by 2032, with a CAGR of 7.7% during the research period.
- China’s industrial cyber security market is expected to be worth US$ 3.2 Billion by 2032, with a CAGR of 9.1% over the forecast period.
- Japan is expected to have a market size for industrial cyber security of US$ 2 Billion by 2032, with a CAGR of 9.2% during the research period.
- By 2032, India is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market, with a CAGR of 9.3% during the research period.
Ask An Analyst @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14460
COMPETITIVE LANDSCAPE:
Major players such as Schneider Electric SE, Rockwell Automation Inc., CyberArk Software Ltd., ABB Ltd., Bayshore Networks Inc. are among the industrial cyber security market’s top participants.
Several business strategies are being implemented by these companies in order to boost their global expansion and deliver sophisticated security services.
- Exablaze, an Australian developer and producer of innovative network devices, was acquired by Cisco System, Inc. in February 2020. This acquisition will help organizations improve their security network performance.
- Broadcom Inc. will introduce BizOps, an improved decision-making platform for sectors, in June 2020. This approach would aid businesses in speeding up decision-making across a variety of commercial and technological fields.
- CyberArk Software Ltd. introduced CyberArk, Cloud Entitlements Manager, an artificial intelligence-based solution, in November 2020. The solution was created to improve cloud infrastructure security layers across businesses.
Key Segments
By Component:
- Hardware Solutions
- Software Solutions
- Services
By Security Layer:
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Wireless Security
- Others
By End-User Industry:
- Process
- Discrete
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-14460
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
