Meticulous Research®, a key player in market research, has published a report titled ‘Industrial Cybersecurity Market by Component (Solutions, Services), Security Type (Endpoint Security, Network Security), End User (Industrial Manufacturing, Transportation & Logistics), and Geography—Global Forecast to 2030.’
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As per the analysis from Meticulous Research®, the global industrial cybersecurity market is anticipated to grow at a CAGR of 14.8% between 2023 and 2030, with the market size expected to reach $49.53 billion by 2030. The growth drivers include the growing reliance on disruptive technologies and an increasing number of cyberattacks across industries. Additionally, the rising demand for cloud-based cybersecurity solutions among SMEs, along with the adoption of Artificial Intelligence (AI), Machine Learning (ML), and Blockchain technologies for enhanced security, will provide significant growth opportunities. However, the market may face challenges due to the shortage of skilled professionals in cybersecurity roles.
The report breaks down the market by component, security type, deployment mode, and end user, and offers regional and country-level insights.
Component Breakdown
The market is divided into solutions and services. In 2023, the solutions segment is expected to account for the largest share, driven by increasing concerns over data security and heightened efforts from industrial players to improve their security infrastructure. This segment is also predicted to grow at the fastest rate during the forecast period.
Security Type Breakdown
The market is categorized into network security, application security, cloud security, endpoint security, and other security solutions. By 2023, the endpoint security segment is expected to dominate due to the growing number of endpoint devices and the need for comprehensive solutions to protect enterprise networks. This segment is anticipated to record the fastest growth rate during the forecast period.
Deployment Mode Breakdown
The market segmentation includes on-premise and cloud-based deployment modes. In 2023, the cloud-based deployment segment is expected to lead, driven by the flexibility and affordability of cloud-based security solutions, particularly among SMEs. This segment is forecasted to grow at the highest CAGR throughout the forecast period.
End User Breakdown
The end user segment includes industrial manufacturing, energy & utilities, transportation & logistics, and other industries. The industrial manufacturing segment is projected to capture the largest share in 2023 due to the increasing demand for real-time security monitoring and the growing frequency of cyberattacks. However, the transportation & logistics segment is expected to grow at the highest CAGR during the projected period.
Geographical Breakdown
The market is analyzed across regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to dominate the global industrial cybersecurity market, fueled by increasing cybersecurity initiatives and technological advancements. Meanwhile, the Asia-Pacific region is forecasted to grow at the fastest rate, driven by growing investments in industrial cybersecurity solutions.
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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