Industrial Cybersecurity Market on Track for Strong Growth, Estimated to Grow at 8.8% CAGR Through 2029

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What Is the Expected CAGR for the Industrial Cybersecurity Market Through 2025?
The market size for industrial cybersecurity has seen robust growth in recent years. From $24.04 billion in 2024, it is projected to increase to $25.6 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.5%. This significant expansion during the historical period can be linked to the rise in cyber threats, the need for critical infrastructure security, regulatory compliance requisites, heightened connectivity of industrial systems, notable cyber incidents, consciousness about insider risks, and the necessity for remote observation and control.

What's the Projected Size of the Global Industrial Cybersecurity Market by 2029?
Expectations are high for the industrial cybersecurity market to experience robust expansion in the upcoming years. The projected value is to reach $35.83 billion by 2029, with an 8.8% compound annual growth rate. The anticipated boost over the prediction period is primarily due to the convergence of physical and cybersecurity, the rising deployment of autonomous systems, the adaptation of cyber insurance, a constant evolution of regulations, and the emergence of industry 4.0. In the same period, the integration of IT and OT security, a focus on zero trust architecture, an increased uptake of artificial intelligence (AI) and machine learning (ML), the incorporation of cloud-based security measures, improvements in supply chain security, an emphasis on cybersecurity training and awareness, as well as continuous surveillance and threat intelligence are expected to become major market trends.

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Top Growth Drivers in the Industrial Cybersecurity Industry: What's Accelerating the Market?
The industrial cybersecurity market is projected to grow due to the rising demand for industrial cybersecurity solutions and services. These encompass a collection of technologies and services that are designed to safeguard each industrial layer, ensuring the consistency and continuity of industrial operations. The industry's craving for industrial cybersecurity measures is on the rise, particularly for enhanced solutions like firewalls, antivirus software, and intrusion detection systems. As per the Bureau of Labor Statistics report in 2022, a US government agency, the need for information security analysts will experience a 28% surge, with an additional 2.8k jobs. By 2025, industrial cybersecurity is anticipated to generate 3.5 million jobs worldwide. Thus, the upward trajectory in demand for industrial cybersecurity solutions and services fuels the expansion of the industrial cybersecurity market.

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What Trends Will Shape the Industrial Cybersecurity Market Through 2029 and Beyond?
Leading businesses in the industrial cybersecurity sector are incorporating artificial intelligence in their product development to strengthen their market position. AI-based industrial cybersecurity leverages sophisticated AI tools and algorithms to independently detect, scrutinize, and react to cyber threats in industrial settings, improving the security of essential infrastructure and manufacturing systems significantly. For example, Rubrik, a software company based in the US, introduced Ruby in November 2023. Ruby, an AI companion designed to speed up the detection, recovery, and resilience to cyber threats in companies, was developed using Azure OpenAI coupled with a machine learning data threat engine. Ruby aids in uncovering, examining, fixing, and reporting cyber incidents, thereby streamlining and automating the process of cyber threat detection and recovery.

What Are the Main Segments in the Industrial Cybersecurity Market?
The industrial cybersecuritymarket 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

Subsegments:
1) By Network Security: Intrusion Detection Systems (IDS), Firewalls, Virtual Private Networks (VPNs)
2) By Endpoint Security: Antivirus Solutions, Endpoint Detection And Response (EDR), Mobile Device Management (MDM)
3) By Application Security: Web Application Firewalls (WAF), Application Security Testing (AST), Secure Software Development Lifecycle (SDLC) Tools
4) By Cloud Security: Cloud Access Security Brokers (CASB), Cloud Security Posture Management (CSPM), Data Loss Prevention (DLP) Solutions

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Which Top Companies are Driving Growth in the Industrial Cybersecurity Market?
Major companies operating in the industrial cybersecurity market are IBM Corporation, Honeywell International Inc., Asea Brown Boveri Ltd., Schneider Electric SE, Rockwell Automation Inc., CrowdStrike Holdings Inc., SparkCognition Inc., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Darktrace Ltd., Fortinet Inc., Microsoft Corporation, SkyHigh Security, SonicWall Inc., Splunk Inc., Tanium Inc., Broadcom Inc., Mandiant Solutions Inc., Siemens AG, CyberArk Software Ltd., Claroty Inc., Nozomi Networks Inc., Dragos Inc., Sumo Logic Inc., Fortalice Solutions LLC, ThreatConnect Inc., Cydive Inc., Forescout Technologies Inc., Indegy Inc.

Which Regions Will Dominate the Industrial Cybersecurity Market Through 2029?
North America was the largest region in the industrial cybersecurity market in 2024. The regions covered in the industrial cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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