Overview and Scope
Critical infrastructure protection services are specialized solutions and protocols designed to safeguard essential systems and assets vital for societal and economic functions. These services encompass measures to protect sectors such as energy, transportation, water, and telecommunications from threats and disruptions, including natural disasters, terrorist attacks, and cyberattacks. These services assure the resilience, dependability, and continuity of critical infrastructure activities, protecting national security, public safety, and economic success.
Sizing and Forecast
The critical infrastructure protection service market size has grown strongly in recent years. It will grow from $118.51 billion in 2023 to $127.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to rising regulatory compliance requirements, increase in insider threats, rising awareness of supply chain vulnerabilities, increase in cybersecurity spending by governments, rising demand for managed security services.
The critical infrastructure protection service market size is expected to see strong growth in the next few years. It will grow to $172.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing digitization of critical infrastructure, increasing cybersecurity threats, increasing frequency of cyberattacks, growing reliance on IoT devices, rise in ransomware attacks. Major trends in the forecast period include adoption of edge computing technology, integration of AI and machine learning in security, adoption of 5G technology, adoption of blockchain technology in infrastructure security, advance technology.
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Segmentation & Regional Insights
The critical infrastructure protection service market covered in this report is segmented –
1) By Type: Risk Management Services, Consulting Services, Managed Services, Maintenance and Support Services
2) By Cybersecurity: Encryption, Threat Intelligence
3) By Vertical: Energy and Power, Transportation, Sensitive Infrastructure and Enterprises, Government and Defense, Other Verticals
North America was the largest region in the critical infrastructure protection service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the critical infrastructure protection service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing cybersecurity threat is expected to propel the growth of the critical infrastructure protection service market going forward. Cybersecurity threats refer to malicious activities and incidents that compromise the confidentiality, integrity, or availability of digital assets, systems, or networks. Cybersecurity threats are increasing due to factors such as expanding digital ecosystems and evolving tactics employed by malicious actors. Critical infrastructure protection services aid in mitigating cybersecurity threats by offering specialized solutions and strategies designed to safeguard essential infrastructure against potential attacks and disruptions. For instance, in March 2023, according to the Internet Crime Report produced by the FBI (Federal Bureau of Investigation), a US-based government office, the FBI’s Internet Crime Complaint Center (IC3) received 800,944 reported complaints, resulting in losses exceeding $10.3 billion. Phishing scored first among complaints received in 2022, with a financial loss of $52 million. Investment fraud, which resulted in a $3.3 billion loss, showed an increase of 127% over the previous year. Therefore, the increasing cybersecurity threat is driving the growth of the critical infrastructure protection service market.
Key Industry Players
Major companies operating in the critical infrastructure protection service market are Siemens AG, Raytheon Technologies Corporation, Lockheed Martin Corporation, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Northrop Grumman Corporation, Honeywell International Inc., Broadcom Inc., BAE Systems plc, Thales Group, Leidos Holdings Inc., VMware Inc., Booz Allen Hamilton Holding Corporation, Palo Alto Networks Inc., Fortinet Inc., Splunk Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, CrowdStrike Holdings Inc., Thoma Bravo LLC, FireEye Inc., Rapid7 Inc., Darktrace Limited, Symantec Corporation, Dragos Inc.
The critical infrastructure protection service market report table of contents includes:
1. Executive Summary
2. Critical Infrastructure Protection Service Market Characteristics
3. Critical Infrastructure Protection Service Market Trends And Strategies
4. Critical Infrastructure Protection Service Market – Macro Economic Scenario
5. Global Critical Infrastructure Protection Service Market Size and Growth
….
32. Global Critical Infrastructure Protection Service Market Competitive Benchmarking
33. Global Critical Infrastructure Protection Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Critical Infrastructure Protection Service Market
35. Critical Infrastructure Protection Service Market Future Outlook and Potential Analysis
36. Appendix
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