Press release
The Industrial Cybersecurity Market is projected to reach $49.53 billion by 2030. *Expected to
Meticulous Research®, a leading global market research and consulting firm, has published a comprehensive report titled "Industrial Cybersecurity Market by Component (Solutions, Services), Security Type (Endpoint Security, Network Security), End User (Industrial Manufacturing, Transportation & Logistics), and Geography-Global Forecasts to 2030." This latest analysis offers a detailed look into the future of the industrial cybersecurity landscape.Download PDF Brochure @ https://www.meticulousresearch.com/download-sample-report/cp_id=5316
According to the report, the global industrial cybersecurity market is on a trajectory of significant growth, with an expected compound annual growth rate (CAGR) of 14.8% from 2023 to 2030. By the end of this period, the market is forecasted to reach a valuation of $49.53 billion. The primary drivers behind this growth include the rapid adoption of disruptive digital technologies and the increasing frequency and sophistication of cyberattacks targeting industrial sectors.
The report highlights that the growing need for cloud-based security solutions among small and medium-sized enterprises (SMEs) and the rising implementation of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Blockchain for enhanced cyber defense are poised to create significant opportunities within the market. However, the report also points out that a shortage of skilled cybersecurity professionals could pose challenges to market expansion.
Market Segmentation Overview
The global industrial cybersecurity market has been segmented across various dimensions, including component, security type, deployment mode, and end user, providing a granular understanding of the market dynamics.
Component Segmentation
The market is bifurcated into solutions and services. In 2023, the solutions segment is anticipated to command the largest share of the market, driven by heightened concerns over data security and privacy. Industrial stakeholders are increasingly prioritizing efficiency, cost reduction, and enhanced security measures, propelling the demand for robust cybersecurity solutions. This segment is also expected to experience the highest CAGR throughout the forecast period.
Security Type Segmentation
The market is categorized by security type into network security, application security, cloud security, endpoint security, and other security types. The endpoint security segment is projected to hold the largest market share in 2023, driven by the surge in endpoint devices and the critical need to secure enterprise networks from escalating cyber threats. Additionally, this segment is forecasted to grow at the highest CAGR during the forecast period, reflecting the ongoing expansion of connected devices within industrial settings.
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Deployment Mode Segmentation
The deployment mode is segmented into on-premise and cloud-based solutions. The cloud-based deployment segment is expected to lead the market in 2023, owing to the rapid evolution of cloud technologies, the flexibility and cost-effectiveness of cloud-based solutions, and their growing adoption among SMEs. This segment is also anticipated to witness the highest growth rate over the forecast period, indicating a strong shift towards cloud infrastructure across the industrial sector.
End User Segmentation
In terms of end users, the market is segmented into industrial manufacturing, energy & utilities, transportation & logistics, and other sectors. The industrial manufacturing segment is predicted to dominate the market in 2023, supported by the rising demand for real-time security monitoring, an increase in cybersecurity incidents, and the growing use of smart devices within manufacturing environments. However, the transportation & logistics sector is expected to exhibit the highest CAGR during the forecast period, driven by the critical need to secure supply chains and logistics networks from cyber threats.
Geographic Market Insights
Geographically, the industrial cybersecurity market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to maintain its leadership position in 2023, attributed to strong government initiatives, the adoption of advanced technologies, and the rising incidence of cyberattacks within the industrial sector. Conversely, the Asia-Pacific region is forecasted to register the highest CAGR over the forecast period, driven by rapid industrialization, growing investment in cybersecurity, and increasing awareness of cyber threats across the region.
Key Players:
The key players operating in the industrial cybersecurity market are Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), F5, Inc. (U.S.), Splunk, Inc. (U.S.), Mandiant, Inc. (U.S.), Broadcom, Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Intel Corporation (U.S.), Imperva, Inc. (U.S.), Cyberark Software Ltd. (U.S.), and RSA Security LLC (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-cybersecurity-market-5316
Key questions answered in the report:
• Which are the high-growth market segments in terms of component, security type, deployment mode, end user, and countries?
• What is the historical market for industrial cybersecurity across the globe?
• What are the market forecasts and estimates for 2023-2030?
• What are the major drivers, restraints, and opportunities in the global industrial cybersecurity market?
• Who are the major players in the global industrial cybersecurity market, and what shares do they hold?
• Who are the major players in various countries, and what shares do they hold?
• How is the competitive landscape?
• What are the recent developments in the global industrial cybersecurity market?
• What are the different strategies adopted by the major players in the market?
• What are the geographic trends and high-growth countries?
• Who are the local emerging players in the global industrial cybersecurity market, and how do they compete with the other players?
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