New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Critical Infrastructure Protection Global Market Report 2023" - https://www.reportlinker.com/p06323873/?utm_source=GNW
The global critical infrastructure protection market grew from $137.88 billion in 2022 to $146.16 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The critical infrastructure protection market is expected to grow to $179.41 billion in 2027 at a CAGR of 5.3%.
The critical infrastructure protection market includes revenues earned by entities by providing security solutions that protect computers and networks that control essential services such as power generation, telecommunication, and healthcare. The market value includes the value of related goods sold by the service provider or included within the service offering.
Critical infrastructure protection refers to a notion that entails guarding against and protecting against cyber-attacks that can harm or interrupt the services that are offered by critical infrastructures. Protecting critical infrastructure involves both preventing and responding to cyberattacks, as well as preventing them from happening in the first place.
North America was the largest region in the critical infrastructure protection market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the critical infrastructure protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of critical infrastructure protection are solutions and services.The solutions to critical infrastructure protection refer to an answer to a problem.
It helps us change our negative state into the desired state. The different types of security technologies include network security, physical security, and others that are employed in the commercial sector, telecom, chemical and manufacturing, oil and gas, and other verticals.
The rise in the adoption of cloud technology and IoT devices is expected to propel the growth of the critical infrastructure protection market going forward.The Internet of Things (IoT) is a system of physical items that uses software and other technologies to connect to devices and systems over the web for transferring data and using cloud technology for storing and accessing data over the internet instead of a computer hard drive.
In critical infrastructure, cloud computing provides confidentiality, integrity, and availability of data and compliance with applicable standards.For instance, according to Rapyder, an India-based cloud services and solutions company, as of November 2020, more than 79% of organizations have adopted multi-cloud technology.
Therefore, the increase in the adoption of cloud technology and IoT is driving the demand for critical infrastructure protection.
Technological advancements are the key trend gaining popularity in the critical infrastructure protection market.Major companies operating in the critical infrastructure protection sector are focused on developing technologically advanced products to strengthen their market position.
For instance, in February 2022, Forcepoint, a US-based software company, launched Forcepoint One, a cloud platform developed with zero trust and SASE (Secure access service edge) technologies.This product enables organizations to protect their infrastructures by managing one set of policies from a single console.
Users can manage a wide variety of security services while reducing costs and managing over 50-point products. This platform is an all-in-one security platform that is simplified for traditional and remote workforces and allows them controlled access to information on the web, cloud, or any private applications.
In May 2022, Parsons Corp, a US-based technology company focused on defense, intelligence, security, and infrastructure engineering, acquired Xator Corporation for $400 million.Through this acquisition, Xator would increase Parsons’ customer base by bringing distinct technical capabilities in critical infrastructure protection, counter unmanned aircraft systems, intelligence and cyber solutions, biometrics, and global threat assessment and operations.
Also, it is expected to increase Parsons’ footprint in the Special Operations Command, the intelligence community, federal civilian clients, and international critical infrastructure markets while opening up new customer access at the State Department. Xator Corporation is a US-based provider of mission-focused solutions addressing critical infrastructure protection, enterprise technology and cybersecurity, mission and training, and national security requirements.
The countries covered in the critical infrastructure protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The critical infrastructure protection market research report is one of a series of new reports that provides critical infrastructure protection market statistics, including critical infrastructure protection industry global market size, regional shares, competitors with a critical infrastructure protection market share, detailed critical infrastructure protection market segments, market trends and opportunities, and any further data you may need to thrive in the critical infrastructure protection industry. This critical infrastructure protection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06323873/?utm_source=GNW
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