Critical Infrastructure Protection Market Expected to exceed $158.79 Billion Globally by 2023 | Top Key Players - BAE SYSTEMS, EMC CORPORATION, WATERFALL SECURITY SYSTEMS, GENERAL DYNAMICS, HONEYWELL INTERNATIONAL, INTERGRAPH

Critical Infrastructure Protection Market Highlights:
The global critical infrastructure protection market was estimated at USD 102.37 billion in 2017. This market is expected to reach USD 158.79 billion by the end of 2023, at a CAGR of 7.59% during the forecast period (2018 - 2023). There exists a global demand for ensuring economical solutions are handling threats and attacks. The applications of the technology are increasing in magnitude across all the major industry verticals which have been considered within the scope of the study. Another prominent trend observed in the market is the adoption of the technology in countries without a history of security lapses or agendas. The issue, which was once considered a non-issue in c ertain economies has emerged as a priority today.

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NORTH AMERICA TO OCCUPY MAJOR SHARE IN THE MARKET
North America was among the first to adopt Critical Infrastructure Protection programs and regulations across multiple industry verticals. It also occupies the largest market share, globally, accounting for 34% of the global market in terms of revenue, and market forecasts indicate that this trend is expected to continue. Additionally, the CIP Market has grown to be a mature market in the United States, where the program to ensure safety and security of critical and IT infrastructures was introduced in the year 1996. In North America, the reality that operators of critical infrastructures are more confident about the safety of these structures than they should be, is the key driving factor behind the establishment of the North American Electric Reliability Corporations (NERC). It has been additionally enforced that systems and companies that do not comply with the NERC CIP v.5 requirements will be subjected to hefty and strict fines.

Major Key Players:
BAE SYSTEMS, EMC CORPORATION, WATERFALL SECURITY SYSTEMS, GENERAL DYNAMICS, HONEYWELL INTERNATIONAL, INTERGRAPH CORPORATION

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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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.

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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