Industrial Cybersecurity Market – Global Opportunities & Forecast, 2020-2027

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including security type, offering, end-user industry, and regions.

Leading Players in the Industrial Cybersecurity Market:

The Industrial Cybersecurity Market is fairly fragmented, and a number of global and regional players operating in the market are:

·         Honeywell International Inc.

·         IBM

·         Cisco Systems, Inc.

·         ABB

·         McAfee, LLC

·         Schneider Electric

·         Dell

·         Siemens

·         Rockwell Automation, Inc.

·         Fortinet, Inc.

Industrial Cybersecurity Market drivers:

The significant factor driving the growth of the global industrial cybersecurity market include the growing incidences of cyberattacks on the industrial control systems majorly owing to the introduction of the Industrial Internet of Things (IIoT) in the operations which is leading to an upsurge in the cybersecurity risk. Moreover, the rising number of funding by the government to develop a structure required to improve cybersecurity in the industries worldwide is also a major factor fuelling the growth of industrial cybersecurity in the market. Furthermore, the growing use of the internet and the increasing use of IT systems have increased the risk of information security and data privacy, further bolstering the demand for industrial cybersecurity in the market in the upcoming years. On the other hand, the lack of required framework and funds for the development of cybersecurity solutions and limited awareness among the industries associated with the need for cybersecurity in the industrial control systems will hamper the growth of the global industrial cybersecurity market.

For example, especially in 2020, the government declared an investment of USD 1.35 billion to strengthen Australia's cybersecurity capabilities in the upcoming years. Out of this USD 1.35 billion, USD 35 million will be used to develop a new cyber threat-sharing platform that allows the government and industry to share intelligence about any sort of malicious cyber activity and block the appearing threats in near real-time.

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Industrial Cybersecurity Market Segmentation:

According to the report published by GMI Research, titled “Industrial Cybersecurity Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Security Type:

·         Endpoint Security

·         Network Security

·         Cloud Security

·         Application Security

·         Wireless Security

·         Others

By Offering:

·         Networking Devices

o   Routers

o   Industrial Ethernet Switches

·         Gateways

·         Services

o   Managed Services

o   Professional Services

§  Audit & Reporting

§  Risk Management Services (RMS)

§  Design Integration & Consulting

·         Solutions

o   Firewall

o   Antivirus/Malware

o   Virtualization Security

o   SCADA Encryption

o   Security Information and Event Management (SIEM)

o   Data Loss Prevention (DLP)

o   Identity and Access Management (IAM)

o   Intrusion Detection System/Intrusion Prevention System

o   Distributed Denial of Service (DDOS)

o   Unified Threat Management (UTM)

o   Others

By End-User Industry:

·         Utilities

·         Power

·         Chemicals & Manufacturing

·         Transportation

·         Others

By Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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