Global Critical Infrastructure Protection Market Driving Factors Are Growing Number of Adverse Incidents in Electric Infrastructure

Global demand for critical infrastructure protection (CIP) is increasing rapidly, since the virtual and cyber world are exposed to innumerable threats of hacking, attacks and theft. The critical infrastructure protection solutions are being increasingly adopted by various industries such as electricity, oil and gas, telecommunication, water supply generation, transmission and distribution, agriculture, food production and distribution, financial services and security services. The need for transportation systems has always been high, however with the increasing number of transportation accidents, the safety and security concern have become highly important and a matter of concern. Some of the factors driving the growth of the global critical infrastructure protection market are growing number of adverse incidents in electric infrastructure, growing significance of disaster management information, and need for stimulating critical infrastructure protection (CIP) implementation in private sector. Within the market, consulting services segment is expected to grow at the highest rate during the forecast period, as the services provided by consultancies include analysis of infrastructures, technological know-how, required changes adopted in the management services, operational improvement services, training skills and technological implementations, which require an immediate response by all the industries.

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The opportunities in the critical information protection market lies with the exploitation of the internet of things (IoT) revolution and its potential scope. IoT is also a driving factor for the physical and information security market. The physical security market consists of a wide range of products and services such as access control, biometrics, video surveillance, consulting and technical support. With increasing cyberattacks on critical infrastructure zones, the investment on physical and information security market is expected to increase during the forecast period. Critical infrastructure protection solution deploys both traditional and modern cyber security technology to ensure more reliability and better protection in the long run. The major restraint hampering the growth of the market is high cost of procurement.

Critical infrastructure protection necessitates both the provision of security from the internal and external threats and the repair of physically damaged critical infrastructure which may disrupt the services. Critical infrastructure is a term which is generally used by governments to describe assets that are essential for the functioning of a society and economy. Critical infrastructure protection is typically addressed after a major disaster has occurred to the extreme scrutiny. CIP is addressed in a preventive manner rather than in a reactive manner.

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Geographically, North America has been the largest market for critical infrastructure protection, owing to strict government regulations and best practices adopted by several associations such as North American Electric Reliability Corporation (NERC) which handles critical infrastructures. The Middle East and Africa is the second largest growing region in the critical infrastructure protection market. The high market growth is due to increasing number of sensitive infrastructures and organizations in the region, which leads to increasing security needs for their critical infrastructure, resulting in flexibility against cyber-attacks. The market in Asia-Pacific is expected to witness the fastest growth during the forecast period.

Some of the key players in the global critical infrastructure protection market are BAE Systems Inc., General Dynamics Corporation, Honeywell International Inc., Lockheed Martin Corporation, Airbus Group SE, Intergraph Corporation, Intel Corporation and Waterfall Security Solutions Ltd.

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