Global Industrial Cybersecurity Market

Global Industrial Cybersecurity Market was valued at USD 17.22 billion in 2020 which is expected to reach USD 30.85 billion by 2027 at CAGR 8.92%.

Cybersecurity is defined as the body of technologies practices, and processes which is specifically designed to protect networks, applications, programs, devices, and data from attack, damage or unauthorized access. Increase in incidences of cybercrimes across discrete and process management industries is expected to drive the global industrial Cybersecurity market growth.

Market Drivers

Rise in investments by governments across the globe to establish framework for improving Cybersecurity at industrial environments is the key driving factor which is expected to boost the global industrial Cybersecurity market growth. Nowadays, the critical resources of country’s economy depend on digital technologies. Cyberattacks can damage plat operations and IT systems by hacking important information using malware phishing, and spyware. Cyber threats on utilities and manufacturing plants mostly include brute-force, phishing, and malware. Many governments are increasingly providing funds to handle security breaches, and improve industrial Cybersecurity. Furthermore, increase in demand for industrial Cybersecurity in other end use industries like automotive, oil and gas will positively contribute the market growth. Moreover, increase in focus on integrating IoT into industrial control system which is expected to propel the global industrial Cybersecurity market growth over the forecast period.

Market Restraints

However, underestimation of threat levels and misunderstanding of nature of threats are the major restraining factors which are expected to hamper the global industrial Cybersecurity market growth. Also, lack of awareness about best practices and critically of Cybersecurity in industrial control systems will affect the market growth.

Market segmentation

Global Industrial Cybersecurity Market is segmented into product type such as Network, Application, Endpoint, Wireless, Cloud, and Others, by offerings such as Products, Solutions, and Services. Further, market is segmented into end user such as Power, Utilities, Transportation, Automotive, Oil & Gas, Manufacturing, and Others.

Also, Global Industrial Cybersecurity Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as IBM Corporation, Honeywell International, ABB Ltd, Cisco Systems, Siemens, Schneider Electric, Dell Inc, Rockwell Automation, FORTINET, PALO ALTO NETWORKS, and PROOFPOINT.

Market Taxonomy

By Security Type

• Network
• Application
• Endpoint
• Wireless
• Cloud
• Others

By Offerings

• Products
• Solutions
• Services

By End User

• Power
• Utilities
• Transportation
• Automotive
• Oil & Gas
• Manufacturing
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Industrial Cybersecurity Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?