Industrial Cyber Security Market, By Product (Gateway, Routers and Ethernet switches), By Solutions (Antivirus, firewall, DDOS, Data loss Prevention (DLP) and SCADA), By Organization Size (Large & SME’s), By Industries (Manufacturing, Transportation, Power grid, Oil & Gas) and By Region (North America, Europe, APAC and Rest of the World)
The Industrial Cyber Security market holds some of the major and diversified key players such as IBM Corporation (US), Honeywell International Inc (US), ABB ltd (Switzerland), Cisco Systems, Schneider Electric (France), Rockwell Automation (US), Dell In, Bayshore Networks (US) and Kaspersky labs (Russia).
The Cyber Security market growth is higher in North America in the terms of advancements in technology, manufacturing process operations and industrial infrastructure. Among all the regions North America is the hub for a large number of industries and due to early adoption of innovative technology. Also, Asia – pacific is following the lead because of increasing opportunities in emerging countries of Middle East, their adoption towards cloud services and inclination to industrial automation.
The market of Industrial Cyber security can be broken down to products, solutions, industries, organization size and by the region. On the basis of the components, the cyber security market is divided into Gateways, Routers and Ethernet switches. Out of these, Routers and Ethernet switches holds the largest market share of the product industrial cyber security market. This is majorly due the breaches in the security targeting the infrastructure of the industries and the operation process of plants to get the sensitive data. Also, with the advancements in the connected systems, internet penetration and IIoT, usage of gateways results in the growth of cyber security market.
Many government organizations are raising funds to tackle the situation of security breaches and increase in the web based application for a more number of connected devices for easier and safer transmission of data over the secured networks. On the basis of industries, Transportation industry is prone to cyber threats due to increase in the Whole connected systems rather than standalone systems followed by power grid.
Industrial Cyber Security Market is a highly growing and dynamic area of concern including the industrial control systems, network security, the hardware and the network solutions which is designed for the secured operation of machines and plants in the industries. It manages, monitors and look up to everything connected centrally and operated by machines like robotics, power plants and other energy related systems.
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Various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. The leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Since many different industries such as Transportation, Power grid, oil & gas and manufacturing are turning to whole connected systems rather than stand alone, these industries are moving towards the cyber-attacks. The Industrial Cyber Security market is highly competitive due to the increase in web based applications and Government funding towards secured centrally connected systems.
The Industrial Cyber Security market is expected to reach approximately 24.41 USD billion by the end of 2023 with 10.97 % CAGR during the forecasted period from 2017 – 2023.
For the purpose of this study, Market Research Future has segmented the market of Industrial Cyber Security into product, solutions, industries, organization size and region.
- Ethernet Switches
- Data Loss Prevention (DLP)
- Power grid
- Oil & Gas
- North America
- Asia pacific
- Rest of the world.
- Device manufacturers
- Network Operators
- Network Security providers
- Research firms
- Software Developers
- IT enablers
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