Critical Infrastructure Protection Market on Track for US$ 204.2...

Critical Infrastructure Protection Market on Track for US$ 204.2 Billion by 2032

Статьи пользователей IT, Cloud, Software and Technology

Сообщение 2024-07-22 07:07:52

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With a market size of US$ 137.8 billion in 2022, the critical infrastructure protection market is expected to grow at a positive compound annual growth rate (CAGR) of 4% from 2022 to 2032, when it is expected to reach US$ 204.2 billion.

The market has grown in a number of locations due in part to more strict government regulations that are intended to increase the use of critical infrastructure protection (CIP) solutions.

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In the upcoming years, there will be an increasing need to safeguard OT networks globally due to the growing threat of cyberattacks and security breaches to physical systems. This will propel the expansion of the critical infrastructure protection market globally.

Revenue Analysis of Critical Infrastructure Protection from 2015–2021 Compared to Outlook for 2022–2032
The critical infrastructure security market grew at a compound annual growth rate (CAGR) of 3.3% from 2015 to 2021, according to Fact.MR, a market research and competitive intelligence company.

The expansion of mobile broadband networks and the increased accessibility of next-generation technologies in rural regions may present profitable prospects for providers of critical infrastructure protection services.

The pandemic has resulted in a significant shift in cybersecurity and the safeguarding of vital infrastructure to enable prompt assistance for distant workers and cloud adoption. As more businesses embrace work-from-home rules, cloud-based solutions are growing in popularity. Due to this increase, venture capitalists are spending more in the protection of cyber-infrastructure, yet cyber dangers are also rising.

In addition, the risk of external terror attacks is rising due to security forces' retreat, which will increase the need for human-less technology to monitor and safeguard physical important assets.

There is minimal utilization of critical infrastructure protection solutions during these times because the majority of transportation infrastructures and tourist attractions are closed. The public's dense concentration during the lockdown in many locations, including transit networks, will further stimulate the critical infrastructure protection industry globally.

The market's demand for critical infrastructure protection will increase as government regulations change

The need to set new benchmarks for the critical infrastructure security and cyber security sectors, as well as organizations' growing embrace of cutting-edge technology, are propelling market expansion.

Growth in the CIP market is also being driven by an increase in the requirement to mitigate events that affect important infrastructure in different areas and countries. Furthermore, during the course of the projection period, the market is anticipated to provide significant compensation prospects because to the growing need for smart, dependable, and affordable infrastructure protection systems.

Disruptions in the fields of industry, manufacturing, IT, and transportation have a big influence on a nation's economic security and stability. As part of federal laws and policies in various areas, some governments have recently put laws and policies into place to set cybersecurity requirements for safeguarding vital infrastructures.

Transportation, electricity, water, and other infrastructure systems have suffered greatly due to the world's growing urbanization, making them one of the most difficult parts of urban growth. In order to improve living circumstances, governments are concentrating on enhancing infrastructure, such as energy and rail networks. The sphere of information and communications is not only vital to CIP, but it is also highly significant. Furthermore, as a result of the increasing usage of connected devices, cyberattacks are happening more frequently, and the government is increasingly classifying them as essential components of the market's key infrastructure.

The BFSI industry faces many data breaches and assaults because of its broad client base, extensive networking infrastructure, and sensitive data. The safety of automated teller machines is consistently threatened by crimes, fraud, and robbery. The market for critical infrastructure protection has grown as a result of all these issues.

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Acquisition of Disruptive Technologies to Heighten Competition

Businesses may boost production and satisfy customer demand through partnerships with manufacturers, which boosts revenue and market share. End consumers will profit from goods and funding in the industries as a consequence of new technology and developments.

To further address the cybersecurity threats to vital infrastructure and novel responses to public health concerns, MITRE established two new groups in October 2021. With these additional teams, the company will be able to secure infrastructure across the country more quickly and boldly, as well as use clinical and genomic data to combat infectious illnesses and benefit from precision medicine.
The acquisition of DSI Datasicherheit GmbH was announced by Airbus Defence and Space in April 2022. Prior to this deal, DSI and Airbus had a long-standing collaboration. After it is entirely bought by Airbus Defence and Space GmbH, DSI DS will go by the new name Aerospace Data Security GmbH. This will improve Airbus's cryptography capabilities even more, making it possible to create end-to-end secure systems. The agreement's specifics and amount remained undisclosed.

Key Segments Covered in Critical Infrastructure Protection

By Component

Solution

Hardware

Software

Services

Professional Services

Managed Services

By Solution

Physical Safety and Security

Physical Identity and Access Control Systems

Perimeter Intrusion Detection Systems

Video Surveillance Systems

Screening and Scanning

Others

Cybersecurity

Encryption

Network Access Controls and Firewalls

Threat Intelligence