Industrial Cybersecurity Market Size, Share, Outlook 2024 To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Industrial Cybersecurity Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The industrial cybersecurity market size has grown strongly in recent years. It will grow from $22.76 billion in 2023 to $24.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased cyber threats, critical infrastructure protection, regulatory compliance requirements, increased connectivity of industrial systems, high-profile cyber incidents, awareness of insider threats, demand for remote monitoring and control..

The industrial cybersecurity market size is expected to see strong growth in the next few years. It will grow to $33.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to integration of physical and cybersecurity, increasing use of autonomous systems, cyber insurance adoption, continued regulatory evolution, emergence of industry 4.0.. Major trends in the forecast period include integration of it and ot security, focus on zero trust architecture, growing adoption of artificial intelligence (ai) and machine learning (ml), cloud-based security solutions, supply chain security, cybersecurity training and awareness, continuous monitoring and threat intelligence..

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Key Market Players:

Major companies operating in the industrial cybersecurity market report are International Business Machines Corporation, Honeywell International Inc., Asea Brown Boveri Ltd., Schneider Electric SE, Rockwell Automation Inc., CrowdStrike Holdings Inc., Cybereason Inc., SparkCognition Inc., Tessian Ltd., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Darktrace Ltd., Fortinet Inc., Anomali Inc., Vectra AI Inc., FireEye Inc., McAfee Corp., Microsoft Corporation, OneTrust LLC, SkyHigh Security, SonicWall Inc., Splunk Inc., Tanium Inc., Vanta Inc., Broadcom Inc., Mandiant Solutions Inc., Exaud LLC, Kanda Software Inc., Simform LLC, Azumo LLC

Market Drivers:

The increase in demand for industrial cybersecurity solutions and services is expected to propel the industrial cybersecurity market. Industrial Cybersecurity solutions and services are a set of technologies and services aimed at securing every industrial layer while maintaining operational consistency and continuity of industrial processes. The demand for industrial cybersecurity solutions across industries is increasing, as is the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems, which would drive the growth of the industrial cybersecurity market. For instance, in 2022, according to the Bureau of Labor Statistics report, a US-based government agency, demand for information security analysts would rise by 28%, with an increase of 2.8k jobs. Industrial cybersecurity is expected to create 3.5 million jobs globally by 2025. Therefore, the rising demand for industrial cybersecurity solutions and services is driving the growth of the industrial cybersecurity market.

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The industrial cybersecurity market covered in this report is segmented -

1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security
2) By Component: Products, Software, Services
3) By Solutions: Antivirus, Firewall, Ddos, Scada, Other Solutions
4) By End-Use: Energy And Utilities, Transportation Systems, Chemicals And Manufacturing, Other End Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

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