Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Critical Infrastructure Protection Market size is expected to grow from USD 133.3 billion in 2021 to USD 157.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 3.3% from 2021 to 2026, according to a new report by MarketsandMarkets™. Increasing stringent government regulations to increase the adoption of CIP solutions, rising security breaches and attacks pose a threat to physical systems and growing need to secure OT networks to boost the growth of Critical Infrastructure Protection Market across the globe during the forecast period. Moreover, enhancing next-generation technologies and availability of wireless broadband in rural areas would provide lucrative opportunities for Critical Infrastructure Protection Market vendors.
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395 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2016-2026 |
| Base year considered | 2020 |
| Forecast period | 2021-2026 |
| Forecast Unit | Value(USD) |
| Segments covered | Technology, Offering, Application, End User |
| Geographies covered |
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| Companies Covered | BAE Systems (UK), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Raytheon (US), Thales (France), Hexagon AB (Sweden), Johnson Controls (US), Huawei (China), Optasense (England), Teltronic (Spain), Motorola Solutions (US), Axis Communications (Sweden), Waterfall Security Solutions (Israel), Rolta (India), SCADAfence (Israel), Tyco International (Ireland), and 3xLogic (US), Sightlogic(US), Accritical Infrastructure Protectioniter Radar (US), Bayshore(US), Icritical Infrastructure Protection(US), Wave Representatives(US), Mission Secure(US) |
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The report segments the Critical Infrastructure Protection Market by component, by solution, by vertical, and by region. The component segment is categorized into solutions and services. Further, the solution is bifurcated into physical safety and security and cybersecurity. The vertical is divided into financial institutions, government, defense, transport and logistics, energy and power, commercial sector, telecom, chemical and manufacturing, oil and gas and others. Based on region, Critical Infrastructure Protection Market is segmented into major regions such as North America, Europe, Asia Pacific (APAC), Middle East and Africa(MEA) and Latin America.
In the component segment, the services segment is expected to grow at a higher CAGR during the forecast period. On the basis of services, the CIP market is segmented into risk management services, consulting services, managed services, and maintenance and support services. CIP services are necessary for the protection of people, building infrastructure, IT systems, and critical data. The increased instances of cyberattacks on enterprises, national agencies, defense organizations, and commercial users have become a major concern. In May 2017, a ransomware named WannaCry targeted computers that were run on Windows Operating System (OS). WannaCry is one of the major cyberattacks in the last three years. Stuxnet and Flame attacks are other cyberattacks that have a major impact. Stuxnet have a direct effect on critical infrastructure, which has a negative impact on cybersecurity environments. Stuxnet and Flame are believed to be the most vulnerable computer worms created by some national state modular computer malware. Governments and owners of critical infrastructure are taking the assistance of CIP service providers and consultants for streamlining workflows, maximizing efficiencies, and improving security. Several enterprises and agencies offer services, such as field engineering/design (planning, risk analysis, mitigation, and response and reconstitution), IT managed security and services (managed monitoring and cloud-based services), maintenance, and support and consulting. Due to the need for automation in surveillance systems, and information protection and remote monitoring infrastructures such as oil and gas pipelines, smart grids, and nuclear reactors, the demand for unique solutions is on the rise. This requirement is expected to drive the adoption of CIP services during the forecast period.
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