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Industrial Cyber Security Market 2019 Global Analysis, Industry Growth Opportunities, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2023 | COVID-19 Impact

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Ehtesham Peerzade

Market Highlights

The Industrial Cyber Security market is projected to reach approximately 24.41 USD billion with 10.97% CAGR during the forecasted period of 2017– 2023. Industrial cyber security solutions are designed to safeguard industrial environments from cyber threats. Industrial cyber security market is a highly dynamic area of concern. It includes the software and hardware solutions, industrial control systems, and network security. These cyber security solutions deal with secured operation of machines and plants in industries.

Drivers and Restraints

Cyber protection, as technology is gaining tremendous traction in the industrial sector as M2 M Communication is increasing. Industrial Information Security's global demand is primarily driven by the growing adoption of M2 M Communication telematics services. In addition, rising demand for Industrial Cyber Security systems is due to the growing threats of cyber-attacks in Industrial Systems; is fostering the growth of the Industrial Cyber Security sector. The rising instances of cyber-attacks have led to industrial-level interference by governments. The governments are developing a fund to avoid these cases from ensuring that their country's commercial cyberspace remains protected. And this government intervention will push the machine safety market over the review period.

Costs and infrastructure associated with cybersecurity, however, are obscurely substantial due to which management is faced with a tough decision at their side. Companies often tend to have an in-house cybersecurity division, but the innovation costs are high. This element could stand in the way of global market growth.

Segmentation:

The industrial cyber security market size is segmented into product, solutions, industries, organization size and region. The product segment is fragmented into router, gateway and Ethernet switches. A router is a networking device that transmits data between computer networks; they perform the traffic directing functions on internet. Whereas the purpose of cyber security gateway is to provide an interactive information resource on cyber security related initiatives.

The solution industrial cyber security types are antivirus, firewall, DDoS, data loss prevention, supervisory control and data acquisition (SCADA). SCADA is useful in cyber security due to their cost-efficiency, effectiveness, and interoperability which accelerates the inevitable trend of the industrial cyber security market. Due to vulnerabilities in cyber security, governments and the general public are becoming more concerned about various scenarios of large-scale cyber-attacks. Therefore, elements like antivirus, firewall, and SCADA are utilized to prevent such threatening situations. The market is segmented on the basis of organization size, which is large, small and medium size.

The industrial cyber security market is also segmented on the basis of industries, namely transportation, power grid, manufacturing and oil & gas. In various industries, the market has evolved to an established entity providing them with validated and applicable software security patches, help minimize operational risk by ensuring updates are tested, minimized risk from external cyber threats and many more. Each industry is striving to achieve cyber security excellence and strengthen their security efforts. These factors fuel the growth of industrial cyber security market in every sector globally.

Regional Analysis

The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).

The Information Security Industrial Market is divided into four major regions, such as North America, Europe, Asia Pacific, and the rest of the world. The growth of the cyber security market in North America is higher from these geographies in terms of technological developments, manufacturing process operations, and better industrial infrastructure. North America is the center for a large number of industries and because of the early acceptance of new technologies by all the regions. Several governments and large organizations raise funds to resolve security vulnerabilities and increase web-based software adoption for more connected devices for easier and safer transmission of data over the secured networks. Industrial cybersecurity faces multiple threats, and the biggest challenge to date is IoT and connected devices vulnerability. The Industrial cyber security market is anticipated to develop at a higher pace each year as the technology for connected devices is on boom via a central management system and more connected devices are rising significantly each year. However, Asia – pacific is following the lead due to increasing opportunities in emerging Middle East countries, their adoption of cloud services, demand for digitalization market for data processing, and inclination to industrial automation. Also, the emerging economies like India, China, and Japan contribute substantially to the overall market share.

Competitive Analysis

The major market players operating in the global market as identified by MRFR are Rockwell Automation (US), IBM Corporation (US), ABB Ltd (Switzerland), Honeywell International Inc (US), Cisco Systems, Schneider Electric (France), Dell In, Bayshore Networks (US) and Kaspersky Labs (Russia).

Browse Complete Report @ https://www.marketresearchfuture.com/reports/industrial-cyber-security-market-4408

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Ehtesham Peerzade
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