According to a new market research report published by Acute Market Reports “Global Industrial Cyber Security Solutions and Services Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the global industrial cyber security solutions and services market is expected to have a market value of US$ 32.26 billion by 2027 and is set to grow by 10.3 per cent with CAGR during the forecast period.
Advancement in technology has increased cloud adoption by various industries to share and store data on the cloud platform. In addition, the increase in the number of cyber-attacks and data breaches has increased the global demand for industrial cyber security solutions and services. In addition, the increase in IoT devices within the industry is also boosting the growth of the market, as all devices are connected and share information or important data within the premises and the industries located at a different location with the help of cloud and on-site deployments.
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The industry’s end-user-based cyber security solutions and services market has been segmented as FMCG, healthcare, energy & power, oil & gas, aerospace and defense, automotive, chemicals, and others. The energy and power segment is the dominant segment in 2018 with a market share of more than 25.0 per cent and is expected to dominate the market during the forecast period. This is due to advancements in technology in the power industry and the adoption of IoT data sharing devices in real-time, leading to an increase in cyber threats across the industry.
Asia-Pacific is expected to be the fastest-growing region for the industrial cyber security solutions and services market due to increasing cyber-attacks on industries, increasing breaches and other security-related issues and important data expected to drive the market in the Asia-Pacific region. In addition, the increasing adoption of IoT and connected devices within the industry is a major driver of the market. In addition, different policies are put in place, including bringing your own (BYOD) that result in improving the work culture across organizations. Similarly, increasing awareness of the threat to business data and growing data access points is also expected to drive the market.
Some of the prominent players operating in industrial cyber security solutions and services market are Symantec Corporation, Schneider Electric SE, IBM Corporation, Honeywell International Inc., Dell Inc., Siemens AG, Maverick Technologies, Lockheed Martin Corporation, Rockwell Automation, Inc., ABB Ltd., CyberArk Software Ltd., Bayshore Networks, Inc., McAfee, LLC, Kaspersky Lab, and Cisco Systems, Inc.
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By Component Segment
By Industry Size Segment
• Small and Medium Industry
• Large Industry
By Type Segment
• Network Security
• Application Security
• Endpoint Security
• Wireless Security
• Cloud Security
By End-Users Segment
• Energy & Power
• Oil & Gas
• Aerospace and Defence
By Geography Segment
• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)
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Key questions answered in this report
- What was the market size of industrial cyber security solutions and services in 2018 and forecast up to 2027?
- Which is the largest regional market large industry in its industry size segment?
- What are the major trends followed in the industrial cyber security solutions and services market across different regions?
- Who are the key industrial cyber security solutions and services companies leading the market?
- What are the key strategies adopted by the leading industrial cyber security solutions and services companies in the market?