According to the latest report by IMARC Group, titled "Critical Infrastructure Protection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global critical infrastructure protection market reached a value of US$ 137.8 Billion in 2022. Critical infrastructure protection (CIP) is a security solution that is deployed for monitoring and safeguarding systems, assets and networks that involve critical infrastructure from potential threats. It protects crucial information and infrastructure from cyber-attacks and malicious objects by employing numerous tools and processes. Some of these solutions include firewalls, antiviruses, identity and access management, risk and compliance management, intrusion detection systems, and encryption systems. They also involve the implementation of cybersecurity controls, hardware-based embedded identity, and physical security control. Apart from this, CIP is widely used to secure communication while monitoring and managing connected devices across numerous industry verticals, such as government, transportation and energy sectors.
Global Critical Infrastructure Protection Market Trends:
The market is primarily driven by increasing instances of cyber threats and security breaches. Numerous enterprises across the globe are now deploying CIP solutions to protect their infrastructure and critical data while minimizing threat vulnerabilities. The market is also driven by the deployment of automation solutions, along with the rapid expansion of interconnected network architecture. Moreover, there has also been an increase in the concerns for the security of government information. This, coupled with the implementation of several favorable regulations and practices for government safety and data privacy, is expected to provide an impetus to the market growth. Numerous advanced technologies are also being integrated with these solutions to provide scalable and cost-effective data security solutions to end users, which, in turn, is creating a positive outlook for the market. For instance, key players are continually equipping big data, artificial intelligence (AI) and the Internet of Things (IoT) to the CIP solutions to reduce the risks of data theft. Some of the other factors contributing to the market growth include increasing research and development (R&D) in the field of information technology (IT) and the escalating requirement for risk management services. On account of the aforementioned factors, the market is expected to exhibit a CAGR of 3.6% during 2023-2028.
- On the basis of the component, the market has been bifurcated into solutions (physical and cyber security solutions) and services (designing and integration, consultation, risk management, and maintenance and support services).
- Based on the end user, the market has been divided into financial institutions, government, defense, transport and logistics, energy and power, commercial sector, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined with some of the key players. Some of these players include BAE Systems PLC, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc., Airbus SE, Hexagon AB, Waterfall Security Solutions, General Electric Company, McAfee Inc. (TPG Capital and Intel Corporation) and Raytheon Company (United Technologies Corporation).
|Base Year of the Analysis
||Component, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BAE Systems PLC, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc., Airbus SE, Hexagon AB, Waterfall Security Solutions, General Electric Company, McAfee Inc. (TPG Capital and Intel Corporation) and Raytheon Company (United Technologies Corporation)
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