Industrial Cybersecurity Sector Targeting $49.53 Billion by 2030 |...

Industrial Cybersecurity Sector Targeting $49.53 Billion by 2030

Blogs IT, Cloud, Software and Technology

Posted 2024-11-13 10:05:18

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Meticulous Research® has published a detailed 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.”

Download PDF Brochure @ https://www.meticulousresearch.com/download-sample-report/cp_id=5316

The report highlights the global industrial cybersecurity market’s expected growth at a compound annual growth rate (CAGR) of 14.8% from 2023 to 2030, reaching a market size of $49.53 billion by 2030. This growth is fueled by the increasing adoption of digital technologies and the rising sophistication of cyberattacks, which threaten industrial systems globally. Additionally, demand for cloud-based cybersecurity solutions is growing, particularly among small and medium-sized enterprises (SMEs), alongside the use of AI, machine learning, and blockchain technologies for cyber defense. However, a shortage of trained cybersecurity professionals remains a limiting factor for the market's growth.

The study categorizes the industrial cybersecurity market by component, security type, deployment mode, and end user, while assessing market competition at country and regional levels.

Component Overview: The market is segmented into solutions and services. In 2023, the solutions segment is anticipated to hold a larger share of the market due to increasing concerns over data security and the need to reduce operational costs. The industrial sector’s ongoing investment in improving security protocols also contributes to this segment's dominance. The solutions segment is projected to grow at the highest rate during the forecast period.

Security Type Breakdown: In terms of security type, the market is divided into endpoint security, network security, application security, cloud security, and others. In 2023, endpoint security is expected to account for the largest market share, driven by the growing number of endpoint devices that require protection. As more businesses adopt remote work and connect devices across different networks, the need for robust endpoint security solutions increases. The endpoint security segment is also projected to grow at the highest CAGR through 2030.

Deployment Mode Segmentation: The market is further segmented by deployment mode into on-premise and cloud-based. Cloud-based deployments are expected to dominate in 2023, driven by their scalability, flexibility, and cost advantages. Additionally, SMEs are increasingly adopting cloud-based cybersecurity solutions, enhancing the overall market demand. This segment is predicted to record the highest CAGR over the forecast period.

End User Segmentation: The report also segments the market by end user, categorizing it into industrial manufacturing, energy & utilities, transportation & logistics, and others. Industrial manufacturing is expected to hold the largest market share in 2023, propelled by increasing security concerns in industrial operations and rising adoption of smart manufacturing technologies. The transportation & logistics sector is projected to witness the fastest growth due to growing cybersecurity threats in the supply chain.

Regional Analysis: Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to hold the largest share of the global market in 2023, owing to government initiatives, advanced technological infrastructure, and the rising number of cyberattacks in the industrial sector. However, Asia-Pacific is expected to grow at the highest CAGR, driven by increasing industrialization, rapid digital transformation, and growing investments in cybersecurity.

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?