The Global Critical Infrastructure Protection Market Likely to Gain $129.07 Billion in Revenue by 2028

A report by Triton Market Research speculates the global critical infrastructure protection market, which generated revenue worth $72.76 billion in the eyar 2020, to register a CAGR of 6.89% by 2028.

A recent study by Triton Market Research titled ‘Global Critical Infrastructure Protection Market,’ covers the Global Analysis and Forecast for 2021-2028 by Vertical (Transportation; Sensitive Infrastructure and Enterprises; Energy and Power), by Security Technology (Network Security; Physical Security [PSIM and PIAM; Access Control; Screening and Scanning; Video Surveillance]; RADAR; Secure Communications; Vehicle Identification Systems; SCADA Security; Building Management Systems; CBRNE), by Services (Managed Services; Maintenance and Support; Risk Management Services; Designing, Integration, and Consultation), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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The report on the global critical infrastructure protection market shows that this industry will garner $129.07 billion in revenue by the year 2028, growing at a CAGR of 6.89% over the forecasting years from 2021 to 2028.

Critical infrastructure sectors comprise assets, systems, and networks, both physical or virtual. These sectors are essential for the development of a nation. Hence, their destruction or incapacitation can have a debilitating effect on the national security, national economy, national public health or any combination thereof.

Political pressure to frame better and more efficient policies and regulations pertaining to critical infrastructure protection has built up in the last couple of years. Both operators as well as organizations are facing a rising threat of attacks on critical infrastructure. Thus, it is now well-understood that the safety and security of critical infrastructure are of utmost importance. In several countries, governments have begun imposing hefty fines on organizations or corporations that fail to meet CIP security standards. Hence, factors such as increasing political pressure have enhanced the adoption of critical infrastructure protection solutions and software. This is propelling the studied market’s growth.

However, many a times, huge investments in the field of CIP turn out to be futile, owing to the poor compatibility between software and software, devices and devices, software and devices, etc., or the lack thereof. This factor is obstructing the path of market growth.

The market for critical infrastructure protection is primarily categorized into vertical, security technology, and services. According to vertical, it is divided into transportation; sensitive infrastructure and enterprises; and energy and power. Whereas, according to security technology, it is classified into network security; physical security; RADAR; secure communications; vehicle identification systems; SCADA security; building management systems; and CBRNE. Physical security is further segmented into PSIM and PIAM; access control; screening and scanning; and video surveillance. On the basis of services, the market is consists of managed services; maintenance and support; risk management services; and designing, integration, and consultation.

The North American region holds the largest market for critical infrastructure protection globally. The rising investments for the development of smart grid technology are one of the major market growth-inducing factors. North America is at the forefront in terms of the adoption of this technology. The region boasts the maximum number of CIP industry players, which gives it an edge over other regional markets. On the other hand, the market in the Asia-Pacific is predicted to witness the fastest growth worldwide, thanks to the increasing number of initiatives by the governments and related regulatory bodies in the region to promote the better management and protection of critical infrastructure.

General Electric Company, Honeywell International Inc, Northrop Grumman Corp, Airbus SE, Axis Communications, General Dynamics Corporation, Lockheed Martin Corporation, Ericsson AB, Raytheon Co, Waterfall Security Solutions Ltd, Hexagon AB, McAfee Inc (TPG Capital), Kaspersky Lab Inc, BAE Systems Plc, and Teltronic are some of the notable names in this market.

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Question & Answer: Critical Infrastructure Protection Market

Question 1: What factor is propelling the critical infrastructure protection market’s growth?

Answer: Political pressure to frame better and more efficient policies and regulations pertaining to critical infrastructure protection has built up in the last couple of years. Both operators as well as organizations are facing a rising threat of attacks on critical infrastructure. Thus, it is now well-understood that the safety and security of critical infrastructure are of utmost importance.
In several countries, governments have begun imposing hefty fines on organizations or corporations that fail to meet CIP security standards. Hence, factors such as increasing political pressure have enhanced the adoption of critical infrastructure protection solutions and software. This is propelling the studied market’s growth.

Question 2: What factor is obstructing the path of the critical infrastructure protection market growth?

Answer: many a times, huge investments in the field of CIP turn out to be futile, owing to the poor compatibility between software and software, devices and devices, software and devices, etc., or the lack thereof. This factor is obstructing the path of market growth.

Question 3: Which regions are influencing the growth of the CIP market, globally?

Answer: The North American region holds the largest market for critical infrastructure protection globally. The rising investments for the development of smart grid technology are one of the major market growth-inducing factors. North America is at the forefront in terms of the adoption of this technology. The region boasts the maximum number of CIP industry players, which gives it an edge over other regional markets.

On the other hand, the market in the Asia-Pacific is predicted to witness the fastest growth worldwide, thanks to the increasing number of initiatives by the governments and related regulatory bodies in the region to promote the better management and protection of critical infrastructure.

Question 4: Which are some of the notable names in the critical infrastructure protection market?

Answer: General Electric Company, Honeywell International Inc, Northrop Grumman Corp, Airbus SE, Axis Communications, General Dynamics Corporation, Lockheed Martin Corporation, Ericsson AB, Raytheon Co, Waterfall Security Solutions Ltd, Hexagon AB, McAfee Inc (TPG Capital), Kaspersky Lab Inc, BAE Systems Plc, and Teltronic are some of the notable names in this market.

Related Report:

Global Cyber Security Market

The global cyber security market is forecasted to exhibit a CAGR of 10.65% in the forthcoming years from 2019 to 2028, garnering a revenue of $308.75 billion by 2028.
Over the years, the cases of cybercrime have risen significantly, creating severe problems for people, organizations, and society at large. The increasing internet adoption and the proliferation of payment-linked online services attract several miscreants and profit-oriented criminals, who misuse confidential data and attack cyber systems. Industries like healthcare, banking, and government sector store critical data, and are therefore more vulnerable to such attacks. This is why, there is a growing need to reduce such attacks, which calls for the adoption of cyber security practices. The increasing adoption is one of the major factors motivating market growth.

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