By 2030, Industrial Cybersecurity Industry Will Be Worth $49.53 Billion
Meticulous Research® recently published a comprehensive report titled “Industrial Cybersecurity Market by Component (Solutions, Services), Security Type (Endpoint Security, Network Security), End User (Industrial Manufacturing, Transportation & Logistics), and Geography—Global Forecasts to 2030.”
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According to this report, the global industrial cybersecurity market is expected to grow at a compound annual growth rate (CAGR) of 14.8% from 2023 to 2030, reaching a market value of $49.53 billion by 2030. This growth is driven by the increasing adoption of disruptive digital technologies, coupled with the rising frequency and sophistication of cyberattacks on industrial systems. Additionally, the growing demand for cloud-based cybersecurity solutions among small and medium-sized enterprises (SMEs) and the integration of artificial intelligence (AI), machine learning (ML), and blockchain for cybersecurity defenses are key growth opportunities. However, the market faces a significant challenge in the shortage of skilled cybersecurity professionals.
The report provides a detailed market breakdown, segmenting the industrial cybersecurity market by component, security type, deployment mode, and end user, while offering insights into regional and national trends.
Component Segmentation: The market is split into two primary categories: solutions and services. In 2023, the solutions segment is expected to hold the largest share of the market. This is largely due to growing concerns regarding data security and industrial privacy, as well as the increasing need for improved operational efficiency. Moreover, this segment is expected to grow at the fastest pace during the forecast period, as industries invest in sophisticated cybersecurity tools to prevent potential threats.
Security Type Breakdown: The security type segment is divided into endpoint security, network security, cloud security, application security, and others. In 2023, endpoint security is projected to account for the largest share of the market. This is due to the rapidly growing number of endpoint devices that connect to industrial networks, which necessitates stronger security measures. Furthermore, the segment is expected to grow at the highest CAGR, driven by the increasing need to secure diverse enterprise networks.
Deployment Mode Overview: The market is segmented into on-premise and cloud-based solutions by deployment mode. Cloud-based solutions are forecasted to dominate the market in 2023, primarily due to their cost-effectiveness, scalability, and growing adoption across SMEs. The cloud-based deployment mode is also expected to grow at the fastest rate during the forecast period, driven by the increasing need for flexible and efficient security solutions.
End User Segmentation: The industrial cybersecurity market is categorized by end user into industrial manufacturing, energy & utilities, transportation & logistics, and others. Industrial manufacturing is expected to hold the largest market share in 2023, driven by the growing adoption of smart manufacturing technologies and the rising demand for real-time cybersecurity monitoring. However, the transportation & logistics segment is expected to grow at the highest CAGR, as cyber threats increasingly target global supply chains and transportation systems.
Regional Insights: The market is segmented into five key regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the market, supported by government initiatives to enhance cybersecurity and the region's technological advancements. However, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, driven by increasing industrialization, rapid digital transformation, and significant investments in cybersecurity solutions across industries.
Key Players:
The key players operating in the industrial cybersecurity market are Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), F5, Inc. (U.S.), Splunk, Inc. (U.S.), Mandiant, Inc. (U.S.), Broadcom, Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Intel Corporation (U.S.), Imperva, Inc. (U.S.), Cyberark Software Ltd. (U.S.), and RSA Security LLC (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-cybersecurity-market-5316
Key questions answered in the report:
- Which are the high-growth market segments in terms of component, security type, deployment mode, end user, and countries?
- What is the historical market for industrial cybersecurity across the globe?
- What are the market forecasts and estimates for 2023–2030?
- What are the major drivers, restraints, and opportunities in the global industrial cybersecurity market?
- Who are the major players in the global industrial cybersecurity market, and what shares do they hold?
- Who are the major players in various countries, and what shares do they hold?
- How is the competitive landscape?
- What are the recent developments in the global industrial cybersecurity market?
- What are the different strategies adopted by the major players in the market?
- What are the geographic trends and high-growth countries?
- Who are the local emerging players in the global industrial cybersecurity market, and how do they compete with the other players?
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