The industrial cybersecurity global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Cybersecurity Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial cybersecurity market size has grown strongly in recent years. It will grow from <b>$22.76 billion in 2023 to $24.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. </b> The growth in the historic period can be attributed to increased cyber threats, critical infrastructure protection, regulatory compliance requirements, increased connectivity of industrial systems, high-profile cyber incidents, awareness of insider threats, demand for remote monitoring and control.
The industrial cybersecurity market size is expected to see strong growth in the next few years. It will grow to <b>$33.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. </b> The growth in the forecast period can be attributed to integration of physical and cybersecurity, increasing use of autonomous systems, cyber insurance adoption, continued regulatory evolution, emergence of industry 4.0. Major trends in the forecast period include integration of it and ot security, focus on zero trust architecture, growing adoption of artificial intelligence (ai) and machine learning (ml), cloud-based security solutions, supply chain security, cybersecurity training and awareness, continuous monitoring and threat intelligence.
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Scope Of Industrial Cybersecurity Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Cybersecurity Market Overview
Market Drivers –
The increase in demand for industrial cybersecurity solutions and services is expected to propel the industrial cybersecurity market. Industrial Cybersecurity solutions and services are a set of technologies and services aimed at securing every industrial layer while maintaining operational consistency and continuity of industrial processes. The demand for industrial cybersecurity solutions across industries is increasing, as is the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems, which would drive the growth of the industrial cybersecurity market. For instance, in 2022, according to the Bureau of Labor Statistics report, a US-based government agency, demand for information security analysts would rise by 28%, with an increase of 2.8k jobs. Industrial cybersecurity is expected to create 3.5 million jobs globally by 2025. Therefore, the rising demand for industrial cybersecurity solutions and services is driving the growth of the industrial cybersecurity market.
Market Trends –
Major companies operating in the industrial cybersecurity market are innovating products with artificial intelligence to gain a competitive edge in the market. Artificial Intelligence (AI)-driven industrial cybersecurity involves the use of advanced AI algorithms and technologies to autonomously detect, analyze, and respond to cyber threats in industrial environments, enhancing the overall security posture of critical infrastructure and manufacturing systems. For instance, in November 2023, Rubrik, a US-based software company, launched Ruby. Ruby is a generative artificial intelligence (AI) companion intended to expedite cyber detection, cyber recovery, and cyber resilience in enterprises. Ruby is designed with Azure OpenAI in combination with a machine learning-driven data threat engine. Ruby helps to discover, investigate, remediate, and report on cyber incidents. It simplifies and automates cyber-detection and recovery.
The industrial cybersecurity market covered in this report is segmented –
1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security
2) By Component: Products, Software, Services
3) By Solutions: Antivirus, Firewall, Ddos, Scada, Other Solutions
4) By End-Use: Energy And Utilities, Transportation Systems, Chemicals And Manufacturing, Other End Users
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Regional Insights –
North America was the largest region in the industrial cybersecurity market in 2023. The regions covered in the industrial cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial cybersecurity market report are International Business Machines Corporation, Honeywell International Inc., Asea Brown Boveri Ltd., Schneider Electric SE, Rockwell Automation Inc., CrowdStrike Holdings Inc., Cybereason Inc., SparkCognition Inc., Tessian Ltd., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Darktrace Ltd., Fortinet Inc., Anomali Inc., Vectra AI Inc., FireEye Inc., McAfee Corp., Microsoft Corporation, OneTrust LLC, SkyHigh Security, SonicWall Inc., Splunk Inc., Tanium Inc., Vanta Inc., Broadcom Inc., Mandiant Solutions Inc., Exaud LLC, Kanda Software Inc., Simform LLC, Azumo LLC
Table of Contents
1. Executive Summary
2. Industrial Cybersecurity Market Report Structure
3. Industrial Cybersecurity Market Trends And Strategies
4. Industrial Cybersecurity Market – Macro Economic Scenario
5. Global Industrial Cybersecurity Market Size and Growth
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31. Global Industrial Cybersecurity Market Competitive Benchmarking
32. Global Industrial Cybersecurity Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Cybersecurity Market
34. Industrial Cybersecurity Market Future Outlook and Potential Analysis
35. Appendix
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