New York, USA, May 04, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Critical Infrastructure Protection Market By Technology (Cyber Security, Physical Security), Service (Consulting, Managed, Risk Management, Maintenance & Support), Vertical (Transportation Services, Energy & Power) – Forecast till 2030.
The global critical infrastructure protection market will touch USD 164.5 billion at a 4.20% CAGR by 2030, as per the present Market Research Future report.
Government rules and standards, as well as the rising number of cyber threats, are the main drivers of the market and are causing a large number of enterprises to install critical infrastructure solutions. Moreover, cloud computing for businesses is being used more and more for critical infrastructure security, which is propelling market growth. Another factor boosting the development of critical infrastructure protection sector is the expanding popularity of the Internet of Things (IoT). Physical security is essential in the critical infrastructure protection market as terrorist attacks on a global scale have increased and government regulations have made it necessary. Some products available in the physical security market include biometrics, video surveillance, access control, and technical support.
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Critical Infrastructure Protection Market Key Players
Eminent industry players profiled in the global critical infrastructure protection market report include:
- BAE Systems (U.K.)
- Symantec Corporation (U.S.)
- General Dynamics Corporation (U.S.)
- McAfee Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Thales Group (France)
- IBM Corporation (U.S.)
- Lockheed Martin Corporation (U.S.)
- Robert Bosch (Germany)
- Northrop Grumman Corporation (U.S.)
- Axis Communications AB (U.S.).
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 164.5 Billion |
| Growth Rate | CAGR of 4.20% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The Critical Infrastructure Protection Market Growth. |
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Opportunities
Technological Advances to offer Robust Opportunities
Technical developments such as the emergence of big data, cloud computing, artificial intelligence solutions, and the Internet of Things (IoT) will offer robust opportunities for the market. They provide scalable and affordable data security solutions, which contributes to the widespread use of CIP solutions.
Restraints and Challenges
High Cost of CIP Solutions to act as Market Restraint
The high cost of CIP solutions, technical complexities, lack of interoperability, and dearth of trained security analysts may act as market restraints over the forecast period.
Market Segmentation
The global critical infrastructure protection market is bifurcated based on industry vertical, technology, and service.
By service, consulting services will lead the market over the forecast period.
By technology, cyber security will domineer the market over the forecast period.
By industry vertical, energy and power will spearhead the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic was a turning point that altered how organizations view security. The pandemic has had a significant impact on how critical infrastructure protection and cyber-security are provided to users and enterprises to speed up cloud adoption and assistance for distant workers. The need for cloud-based technologies has increased as more businesses embrace policies allowing employees to work from home. Venture capitalists are increasing their investments in the security of cyber infrastructure since with this expansion came an increase in risk of cyber threats. Additionally, during a global lockdown, there is a greater risk of an external terrorist attack because security forces are less mobile.
This increases the need for human-free monitoring & security of the physical critical infrastructures, which raises the need for critical infrastructure protection solutions. Nonetheless, many transportation facilities were shut down, and the majority of tourist attractions were closed, which had a slight impact on how often critical infrastructure protection techniques were used. Also, following a lockdown due to large public gatherings in various locations, such as transit facilities, the demand for Critical Infrastructure Protection will increase internationally.
Regional Analysis
North America to Command Critical Infrastructure Protection Market
The greatest of share of revenue in the worldwide CIP market was accounted for by North America. Governments from different nations in the region are expected to establish strict laws on the public & private sectors in response to the escalating cybercrimes and attacks, which will increase market demand. Rising public protection investment is also giving market participants opportunity. Many end-use sectors working in the cyber-security sector place a strong emphasis on R&D, which fuels both commercial and technological developments with lucrative CIP market growth. Because of the increased acceptance of CIP solutions & services across numerous end-user verticals in the country, the United States is anticipated to be a significant market.
The nation has a solid handle on vendors, which is helping the industry expand. The National Infrastructure Protection Program (NIPPare) and the Homeland Security Presidential Directive (HSPD-7) are two examples of U.S. government entities and policies whose implementation has contributed to the expansion of the regional market. The National Strategy & Action Plan for Critical Infrastructure's execution has also established a risk-based strategy for enhancing the resilience of Canada's critical systems and assets, supporting overall market growth.
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APAC to Have Admirable Growth in Critical Infrastructure Protection Market
Over the forecasted years, the market in Asia Pacific is likely to have the greatest CAGR. Some of the key elements fueling the growth all over the region are the swift technical advancements in industrial and defense systems. It is discovered that a number of developing and developed nations, including China and India, are predicted to experience a high growth rate with increased investments in hardware and software for defense and critical infrastructure protection.
The spread of technology in the industrial systems & military is one of the main drivers of the regional market's expansion. With rising investments in hardware and software for infrastructure protection, China is predicted to have a high growth rate. The expansion of capacity by major players in the APAC region is expected to have a beneficial impact on the market's growth. As a result of the rising frequency of high-profile cyber-attacks, Asia Pacific is predicted to have the highest growth in the near future. The government has been forced by these attacks to fortify their vital infrastructure and online resilience. It would aid in boosting the region's demand for CIP solutions.
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