1. Market Research
  2. > ICT
  3. > Cybersecurity Market Trends
Industrial Cybersecurity Market by Security Type, Offering, End-user and Region - Global Forecast to 2027

Industrial Cybersecurity Market by Security Type, Offering, End-user and Region - Global Forecast to 2027

  • March 2022
  • 286 pages
  • ID: 5974234
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The industrial cybersecurity market size was valued at USD 16.2 billion in 2022 and was expected to reach USD 20.1 billion by 2027; it is expected to grow at a CAGR of 4.4% from 2022 to 2027. The Increasing focus on integrating IoT into industrial control systems. Likewise, rising importance of cloud-based industrial cybersecurity services to create lucrative opportunities for the players in the industrial cybersecurity market. However, lack of awareness about best practices and criticality of cybersecurity in industrial control systems are expected to restraint market growth

Products will have the highest growth in coming years
Cyberattacks and threats against critical infrastructure have increased over the years due to the growing use of connected devices and IT systems.Instead of stealing data, digital attackers target to access industrial control systems, such as SCADA, DCS, and PLC, on which organizations rely for managing their industrial processes.

Industries such as pharmaceuticals, oil & gas, manufacturing, and electric utilities use control systems.These systems are connected with a large number of sensors with the help of network infrastructure (either wired or wireless systems).

Any alteration in control network infrastructure by infrastructure industries to meet their business needs might lead to an increase in cyberattacks.
The industrial cybersecurity market for products has been broadly segmented into gateways and networking devices.Gateways help prevent cyberattacks on SCADA systems by allowing them to connect with management information systems securely.

Gateways help manage network user access by directly accessing the networks in the industrial zone. Furthermore, networking devices are further classified into routers and industrial Ethernet switches.

Power is expected to hold the largest share in 2027
Power companies are increasingly adopting cybersecurity solutions and upgrading their cybersecurity capabilities to protect their industrial systems from rapidly evolving cyber threats.Cybersecurity in power companies helps in mitigating the challenges pertaining to aging grid infrastructure, monitoring power system operations, maintaining the balance between power generation and production, and providing fast and efficient ways to restore services after interruptions.

The importance of monitoring systems has increased with the growing use of renewable sources in power grids.
APAC is attributed to grow at the highest CAGR in Industrial cybersecurity market during the forecast period (2022-2027)
Asia Pacific comprises emerging economies such as China and India.These countries have the presence of a large number of small and medium-sized enterprises (SMEs), which collectively account for the employment of more than 70% of the total population in the countries.

These SMEs provide growth opportunities to the providers of industrial cybersecurity solutions and services to customers from the manufacturing, transportation, and energy industries. In the 2021 Union Budget, the Singaporean government announced an investment of USD 1.8 billion in economic strategies for the next four years. Some portion of this investment is also dedicated to the Cybersecurity Agency (CSA) of Singapore. However, the need for huge investment associated with the successful deployment of an industrial control system security project restricts SMEs from adopting strong security practices in their organizations. However, factors such as the increasing complexity of businesses, the growing trend of BYOD, as well as the rapid shift toward digitization and virtualization, are expected to encourage SMEs to adopt various industrial control solutions and services.

The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 25%, Tier 2 - 45%, and Tier 3 - 30%
• By Designation: C-level Executives - 45%, Director Level - 35%, and Others - 20%
• By Region: North America - 35%, Europe - 30%, APAC - 25%, and RoW - 10%
Industrial Cybersecurity Market was dominated by IBM Corporation (US), Honeywell International (US), ABB Ltd. (Switzerland), CISCO (US), and Schneider Electric (France).

Research Coverage:
This research report categorizes Industrial cybersecurity market by offering, security type, end-user industry, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Industrial cybersecurity market and forecasts the same till 2027.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the Industrial cybersecurity market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations and acquisitions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of Industrial cybersecurity will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Global SOC as a Service Market Size, Share & Industry Trends Analysis Report By Type, By Vertical, By Component, By Offering Type, By Organization Size, By Application, By Regional Outlook and Forecast, 2022 – 2028

  • $ 3600
  • May 2022
  • 354 pages

The Global SOC as a Service Market size is expected to reach $10.9 billion by 2028, rising at a market growth of 10.2% CAGR during the forecast period. SOC as a service is a cloud-based solution that ...

  • World
  • North America
  • Cybersecurity
  • Healthcare
  • Industry analysis

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on