Digital technologies have become the pillar of our economy and are an important resource all economic sectors rely on. Different business models are built on the nonstop availability of the internet and the smooth operational of information systems. The increasing occurrences of cyber-attacks have led to government involvement at the industrial level. The governments are generating funds to prevent such instances to guarantee that the industrial cyberspace in their country remains protected. Thus, this creativity by the government will drive the market for machine safety.
MARKET SCOPE
The "Global Industrial Cybersecurity Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the industrial cybersecurity market with detailed market segmentation by security type, offering, end user, and geography. The report provides key statistics on the market status of the leading industrial cybersecurity market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on security type, the market is segmented into network security, endpoint security, application security, cloud security, wireless security, and others
- Based on offering, the market is segmented into solutions and services
- Based on end user, the market is segmented into power and utilities, oil and gas, transportation, chemicals and manufacturing, and others.
Drivers
- Increasing investments by governments to create framework for refining cybersecurity at industrial environments is one of the major factors driving the growth of the industrial cybersecurity market.
- Growing importance of cloud-based ICS-as-a-service is anticipated to boost the growth of the market.
- Lack of expertise may hinder the growth of the industrial cybersecurity market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The industrial cybersecurity market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the industrial cybersecurity market in these regions.
IMPACT OF COVID-19 ON INDUSTRIAL CYBERSECURITY MARKET
COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the industrial cybersecurity market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the industrial cybersecurity market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the industrial cybersecurity market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- AO Kaspersky Lab
- Cisco Systems, Inc.
- Fortinet, Inc.
- Honeywell International Inc
- IBM
- McAfee, LLC
- Rockwell Automation, Inc.
- Schneider Electric
- Siemens AG