Global Critical Infrastructure Protection Market Is Projected To Reach USD 158.79 Billion By The End of 2023

Enormous Investment In Smart Grid Technology To Drive The Market Growth

The application and the large-scale smart grid implementation across various geographies and verticals are causing the smart grid market to grow rigorously. The technology helps optimize the loss of energy during transmission and distribution; ensuring reduction in electricity consumption. The developing economies are witnessing a robust growth in infrastructure development particularly in the utility sector, which has created a dire need for adherence to CIP standards, which could lead to enhanced protection from diverse security threats capable of causing insurmountable losses to the national economy. The changes made by Federal Energy Regulatory Commission (FERC) to the Critical Infrastructure Protection Reliability Standards (popularly known as CIP v5) have emerged as a fundamental compliance for bulk power systems across the region.
Factors such as IT and infrastructure investments, coupled with the changing regulatory requirements are affecting the modernization of the sector, with large growth opportunities observed in analytics, followed by advanced metering infrastructure and network operations software. This growth, in turn leads to a consequent demand for critical infrastructure protection, which is expected to drive the growth of the market lucratively. The increasing spend in infrastructure development is hence expected to guide the growing demand for critical infrastructure protection.

KEY DEVELOPMENTS IN THE MARKET
December 2017: BAE Systems has secured a new seven-year contract from the UK Ministry of Defense’s (MoD) Maritime Combat Systems (MCS) team for the Royal Navy’s Joint Support Solution 2 (JSS 2) programme.
November 2017: SecurityMatters and Waterfall Security Solutions announced a global partnership to protect industrial control systems from the most advanced cyber threats. The joint solution seamlessly integrates SecurityMatters’ SilentDefense network monitoring platform with Waterfall’s Unidirectional Security Gateways to enable industrial enterprises to continuously and centrally monitor industrial control networks, while thoroughly protecting those networks from cyber-attacks.

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RISK MANAGEMENT SERVICES TO DOMINATE THE MARKET BY SERVICES
Risk Management Services involve taking protective measures to conduct a risk reduction strategy. This segment includes aspects of risk detection, risk assessment and risk reduction. The measures taken to control transfer and avoid these risks fall under the category. Prevention, Protection, Response and Mitigation are few of the approaches used in the technology. The Risk Management Services offers solutions to monitor, manage and protect critical infrastructures. Firms in the segment help corporates make decisions about risk management and governance programs, respond to crisis events, manage and understand regulations and government issues. This requires substantial experience in understanding the complexity of vital infrastructures.

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Companies Mentioned:
BAE Systems PLC,
Honeywell International Inc,
EMC Corporation,
Raytheon Co.,
Airbus SE,
Intergraph Corporation,
General Electric Company,
McAfee Inc (Intel Corporation),
Waterfall Security Solutions,
General Dynamics Corporation,
Lockheed Martin Corporation,
Northrop Grumman Corp,
Kaspersky Lab Inc.,
Ericsson AB,

Table of Content
1. Introduction
1.1 Scope of the Study
1.2 Executive Summary

2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases

3. Market Insights
3.1 Market Overview
3.2 Porter's five forces Analysis
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of customers
3.2.3 Bargaining Power of Suppliers
3.2.4 Threat of Substitute products
3.2.5 Intensity of Competitive Rivalry
3.3 Industry Value Chain Analysis
3.4 Industry Policies

4. Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.2.1 Enormous Investments in Smart Grid Technology
4.2.2 Joint Functioning of Cloud Computing and Critical Infrastructure Protection
4.2.3 Physical Threats, Cyber Threats and Insider Attacks
4.2.4 Political Pressures for Better Regulations and Implementations
4.3 Market Restraints
4.3.1 Poor Understanding of Industrial Control Systems
4.3.2 Lack of Interoperability Between Products
4.4 Market Opportunities
4.4.1 IoT Diving the Information and Physical Security Market
Continued

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