Meticulous Research®, a prominent global market research firm, has published a new 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.’
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According to the report, the global industrial cybersecurity market is projected to expand at a CAGR of 14.8% from 2023 to 2030, with the total market value expected to reach $49.53 billion by 2030. The adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain, along with the rise in cyberattacks on industrial systems, are major drivers of market growth. Additionally, the increasing demand for cloud-based security solutions from small and medium-sized enterprises (SMEs) presents significant growth opportunities. However, the shortage of skilled cybersecurity professionals is one of the main challenges restraining market growth.
The report provides a comprehensive analysis of the market, segmenting it by component, security type, deployment mode, and end user, while examining competition at regional and national levels.
Component Segmentation: The market is categorized into solutions and services. In 2023, the solutions segment is expected to capture the largest share of the market due to rising data security concerns and the need for improved privacy and efficiency within industrial sectors. This segment is also projected to grow at the highest rate during the forecast period.
Security Type Overview: The security type segment is divided into endpoint security, network security, cloud security, application security, and others. Endpoint security is anticipated to dominate in 2023, driven by the rapid increase in the number of connected devices. This segment is also expected to grow at the highest CAGR due to the growing need to secure enterprise networks from endpoint-based threats.
Deployment Mode Segmentation: Deployment modes are split into on-premise and cloud-based solutions. The cloud-based deployment model is expected to dominate the market in 2023 due to its affordability, scalability, and increasing adoption among SMEs. Additionally, this segment is expected to experience the fastest growth during the forecast period.
End User Segmentation: The report divides the market into end users, including industrial manufacturing, energy & utilities, transportation & logistics, and others. Industrial manufacturing is forecasted to hold the largest market share in 2023, driven by the growing need for real-time monitoring and protection against cyber threats. However, the transportation & logistics sector is expected to grow at the fastest rate, as cybersecurity concerns increase across transportation networks and logistics chains.
Regional Outlook: Regionally, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market in 2023, supported by government policies, technological advancements, and the increasing number of cyberattacks on industrial systems. However, Asia-Pacific is expected to exhibit the highest growth rate during the forecast period, driven by rapid industrialization and digitalization in countries like China and India.
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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