Market Research Report
Critical Infrastructure Protection (CIP) Market Size, Share & Trends Analysis Report By Security Type (OT, IT), By Services (Consulting, Risk Management, Managed), By Application, And Segment Forecasts, 2018 - 2025
|Published by||Grand View Research, Inc.||Product code||656129|
|Published||Content info||131 Pages
Delivery time: 2-3 business days
|Critical Infrastructure Protection (CIP) Market Size, Share & Trends Analysis Report By Security Type (OT, IT), By Services (Consulting, Risk Management, Managed), By Application, And Segment Forecasts, 2018 - 2025|
|Published: May 16, 2018||Content info: 131 Pages||
The global critical infrastructure protection market size is expected to reach USD 135.48 billion by 2025, according to a new study by Grand View Research, Inc., expanding at a CAGR of 10.1% during the forecast period. Increasing number of advanced & sophisticated cyber incidents on vital facilities & security systems of nations is one of the key trends triggering market growth over the forecast period. Reliance on the internet and information technology among other digital sources are creating avenues for adversaries to disrupt economic growth by attacking critical infrastructures such as the government, defense, and BFSI sectors.
Increasing cyber threats from potential adversaries and growing efforts to curb cyber-attacks on national security are important factors estimated to provide a fillip to the market. Rising cyber-attacks on critical infrastructure and its impact on national security are raising awareness among governments worldwide to deploy robust security posture.
Several nations have implemented and established stringent policies, strategies, and bodies that underpin security of critical infrastructure. For instance, the European Programme for Critical Infrastructure Protection (EPCIP) sets a framework for activities aimed at improving protection of Europe's critical infrastructure. The National Infrastructure Protection Plan (NIPP) implemented by the U.S. government focuses on partnering with the private sector in an effort to enhance the security and resilience of various critical service sectors. Such implementation of cybersecurity framework and rapid initiatives by governments to protect public assets is likely to drive the market over the forecast period.
Substantial innovations in information and communication technologies (ICT) are resulting in a significant increase in productivity of businesses. However, development of information technology has also opened capabilities of cyberspace to user for network infiltration and abusing digital infrastructure. Rising opportunities have elevated focus of organizations on cyber threats to computer networks, including information theft and sabotage, and acts that disrupt or deny services. Thus, investments in cybersecurity in various sectors witnessed a significant rise over a decade. With the emergence of OT, security of industrial control systems, and supervisory control & data acquisition (SCADA) systems has become imperative as these are most vital infrastructure in industrial and energy sectors. Thus, application of critical infrastructure protection in various industries is poised to show upswing owing to pressing need for protection of sensitive national assets and deter cyber-attacks.
Further key findings from the study suggest that:
The OT security segment is anticipated to register the highest CAGR of 10.3% over the forecast period
The IT security segment was valued at USD 22.7 billion in 2016, registering a healthy CAGR over the forecast period
Consulting services are projected to maintain its dominance in the market until 2025, reaching a valuation of USD 43.84 billion
Risk management services are expected to exhibit the highest CAGR of 11.7% over the forecast period
North America is estimated to hold a dominant revenue share in the market until 2025. The region was followed by Europe, which held a share of 27.5% in the market in 2016
Asia Pacific is likely to witness the fastest growth, registering a CAGR of 11.9% over the forecast period.
Some of the key players in the market are BAE System Plc; General Dynamic Corporation; Honeywell International Inc.; Boeing; and Raytheon Company.