Industrial Cyber Security Market Overview

By 2030, it is expected that the Industrial Cyber Security Market share will generate about 23.7 USD billion. The target CAGR for the global market over the anticipated period of 2021-2030 is 5.1%. Geographically, the North American region is registered to generate the highest

The rise in concern of industries to protect and safeguard their sensitive data and information has propelled the implementation of cyber security in the industrial sectors. The advancement in industrial technologies is demanding higher security systems. The factors have led to the growth of the Industrial Cyber Security Market.

The drivers of the market are accelerating its demand at the global level. The increased rate of operational processes to get sensitive data and the rise in security breaches targeting the industries' infrastructure are the major driving factors of the market. The implementation of the Internet of Things, gateway usage, and increase in connected systems accelerate the market's demand.

The growth opportunities such as the increase in government funding for secured connected systems and the rise in the use of web-based applications are fueling up the market. The use of cloud-based technologies is setting new opportunities. The high rate of cyber-attacks in the industries is accelerating the Industrial Cyber Security Market demand.

During the pandemic, the Industrial Cyber Security Market noticed a good growth rate as the demand for industrial cybersecurity products increased. Various industries demanded automation technologies such as robotics, power plants, and other things. Security breaches have increased during the lockdown period, propelling the market's demand. In the post-pandemic period, the market will continue its growth consistency and will register a good growth rate. The industrial developments of the key players with their marketing strategies to develop the market in the future days will rise the global market value.

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Market Segmentation

The Industrial Cyber Security Market is segmented based on products, solutions, organizations, and industries. The product segment consists of routers, ethernet switches, and gateways. The solution segment of the market is classified into data loss prevention, SCADA, Firewall, Antivirus, and DDoS. Among these, SCADA technology is receiving higher demand at the global level.

The organization size has large enterprises and small and medium enterprises. Small and medium enterprises are accounting the highest market share in the Asia Pacific region. The industries section is divided into oil and gas, power grid, manufacturing, and transportation.

Regional Analysis

According to the geographical status, the Industrial Cyber Security Market is distributed into major continents such as South America, North America, Europe, Asia Pacific, and the Rest of the World.

Among the above geographical regions, the North American market is registered for the highest growth rate due to advancements in technology and better manufacturing operations. The presence of prominent industries in this region is driving the regional market.

The Asia Pacific region is registered to be the dominating region of the market due to the rise in the adoption of automation in industries and the implementation of cloud services. The Middle East region is emerging due to increased market opportunities.

Industry News

Broadcom Inc announced a solution named BizOps, designed to accelerate decision-making across multiple businesses and technology domains that even supports digital transformation initiatives.

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Keyplayers

The Industrial Cyber Security market holds some of the major and diversified key players such as IBM Corporation (US), Honeywell International Inc (US), ABB ltd (Switzerland), Cisco Systems, Schneider Electric (France), Rockwell Automation (US), Dell Inc, Bayshore Networks (US) and Kaspersky labs (Russia).

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