NEW YORK, Aug. 30, 2017 /PRNewswire/ -- The industrial cybersecurity market is expected to be valued at USD 22.79 billion by 2023, growing at a CAGR of 8.6% between 2017 and 2023. The growth of the industrial cybersecurity market can be attributed to the increased connectivity between IT and OT environments, which is making industrial control systems more prone to intrusions and cyberattacks. However, the lack of awareness about cybersecurity and lack of collaboration between the public and private sectors are restraining the growth of the industrial cybersecurity market.
"Solutions held a major share of the industrial cybersecurity market in 2016"
Solutions held a major share of the industrial cybersecurity market in 2016. The growth of industrial cybersecurity market for solutions can be attributed to the increasing demand for firewall solutions. The need for firewall solutions to protect critical infrastructure is expected to proliferate owing to the increased sophistication of cyberattacks and security concerns.
"Industrial cybersecurity market for transportation systems industry to grow at a high rate between 2017 and 2023"
The industrial cybersecurity market for the transportation systems industry is expected to grow at a high rate between 2017 and 2023. The growing penetration of advanced technologies is resulting in the shift of transportation systems from stand-alone type to newer inter-connected systems. The increasing dependence of transportation modes on new technologies is leading to the exposure of transportation control systems to cyberattacks; this is boosting the demand for cybersecurity solutions.
"Industrial cybersecurity market in APAC to grow at a high rate during the forecast period"
The industrial cybersecurity market, on the basis of region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America held the largest share of the industrial cybersecurity market in 2016. The region is an early adopter of innovative technologies and is home to a large number of industrial cybersecurity solution providers. The market in APAC is expected to grow at the highest rate between 2017 and 2023 owing to the improving IT infrastructure, rising adoption of cloud-based services, and growing trend of industrial automation in the region.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 – 43%, Tier 2 – 21%, and Tier 3 – 36%
• By Designation: CEOs – 35%, Vice Presidents – 41%, Co-Founders – 18%, and Others – 6%
• By Region: North America – 45%, APAC – 32%, Europe – 14%, and RoW – 9%
The companies profiled in this report include International Business Machines (IBM) Corporation (US), Honeywell International Inc. (US), ABB Ltd (Switzerland), Cisco Systems, Inc. (US), Schneider Electric (France), Rockwell Automation, Inc. (US), Dell Inc. (US), McAfee, LLC (US), Symantec Corporation (US), and Kaspersky Lab (Russia). The report also includes profiles of new entrants such as Indegy (Israel), SecurityMatters (Netherlands), CyberX (US), Bayshore Networks, Inc. (US), and Sentryo (France).
The report describes the industrial cybersecurity market and related developments in terms of type, product, solution and service, and end-user industry across different regions. It aims at estimating the size and future growth potential of the market for different segments, including type, product, solution and service, end-user industry, and geography. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons to Buy the Report:
• This report includes the statistics pertaining to the industrial cybersecurity market on the basis of type, product, solution and service, end-user industry, and geography.
• The major drivers, restraints, opportunities, and challenges for the industrial cybersecurity market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast based on type, product, solution and service, end-user industry, and geography have been provided to give an overall view of the industrial cybersecurity market.
• A detailed competitive landscape has been provided in the report, including key players and in-depth analysis of these players.
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