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      Industrial Cybersecurity Market worth $135.11 billion by 2029 - Exclusive Report by MarketsandMarkets™


      News provided by

      MarketsandMarkets

      Oct 23, 2024, 10:01 ET

      Share this article

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      DELRAY BEACH, Fla., Oct. 23, 2024 /PRNewswire/ -- The global industrial cybersecurity market was estimated to be valued at USD 84.54 billion in 2024 and is projected to reach USD 135.11 billion by 2029; it is expected to register a CAGR of 9.8% during the forecast period according to a new report by MarketsandMarkets™. Increasing focus on integrating the Internet of Things (IoT) in Industrial Control Systems (ICS), deployment of artificial intelligence (AI) and generative AI in security solutions, the growing shift towards smart manufacturing, increasing risk of cyberattacks, the rising need to protect critical infrastructure from sophisticated cyber threats, and stringent regulatory compliance in various sectors are the major factors driving the overall market growth.

      MarketsandMarkets Logo
      MarketsandMarkets Logo

      Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=37646764

      Browse in-depth TOC on "Industrial Cybersecurity Market" 
      230 – Tables
      73 – Figures
      331 – Pages

      Industrial Cybersecurity Market Report Scope:

      Report Coverage

      Details

      Market Revenue in 2024

      $ 84.54 billion

      Estimated Value by 2029

      $ 135.11 billion

      Growth Rate

      Poised to grow at a CAGR of 9.8%

      Market Size Available for

      2020–2029

      Forecast Period

      2024–2029

      Forecast Units

      Value (USD Million/Billion)

      Report Coverage

      Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

      Segments Covered

      By Offering, Security Type, End-user Industry, deployment type, and Region.

      Geographies Covered

      North America, Europe, Asia Pacific, and Rest of World

      Key Market Challenge

      Integrating cybersecurity solutions with existing industrial processes

      Key Market Opportunities

      Increasing demand for automation solutions meeting safety standards

      Key Market Drivers

      Deployment of AI/Gen AI models in industrial setups


      By Security Type, Network security segment to account for the largest market share in 2029.

      It is anticipated that network security will dominate the market for industrial cybersecurity throughout the forecast period since it serves as the grounding for protecting linked systems from external threats. When AI and IoT are introduced into enterprises, their networks are threatened by intrusions, which underlines the need to manage data flow between devices and systems. As industrial networks become increasingly complex, companies focus on enhancing network security to safeguard their operations, maintain information integrity, and ensure organizational resilience when facing new and growing threat risks.

      By Deployment Type, the Cloud segment is expected to exhibit the highest CAGR between 2024 and 2029.

      In the industrial cybersecurity market by deployment type, the cloud segment is expected to have the highest CAGR as more firms achieve cloud adoption for their solutions than on-premises due to factors such as flexibility and cost of acquiring infrastructure. While organizations implement digital strategies and distributed work, cloud security remains an important issue. One of the major reasons that cloud security is rapidly growing is that more important data and critical operations have started storing in the cloud services.

      Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=37646764

      North America to dominate the market from 2024 to 2029.

      North America is anticipated to have the largest share in the industrial cybersecurity industry because of its early adaptation of modern technologies as well as its strong industrial environment. The presence of major industrial cybersecurity players coupled with legal frameworks that put pressure on firms to adopt enhanced security measures are driving the market growth. Furthermore, the increasing trend of cyber threats towards critical infrastructure, such as energy and manufacturing sectors is forcing organizations in North America to embrace more advanced and superior cybersecurity solutions, making the region a leader in the market.

      Key Players-

      The key companies offering industrial cybersecurity companies include Microsoft (US), IBM (US), Palo Alto Networks (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Fortinet, Inc. (US), and Musarubra US LLC (Trellix) (US).

      Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=37646764

      Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

      Related Reports: 

      Industrial IoT Market Size, Share & Industry Trends Growth Analysis Report by Offering (Hardware (Processors, Connectivity ICs, Sensors, Memory Devices, Logic Devices), Software (PLM, MES, SCADA, OMS), Platforms), Connectivity Technology, Deployment, Vertical and Region - Global Forecast to 2029

      Industrial Communication Market Size, Share & Industry Trends Analysis Report by Components (Switches, Gateways, Power Supply Devices, Router & WAP, Communication Interface & Protocol Converters, Controllers), Software, Services, Communication Protocol, Vertical and Region - Global Forecast to 2028

      About MarketsandMarkets™

      MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

      MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

      Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

      The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

      Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

      To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

      Contact:
      Mr. Rohan Salgarkar

      MarketsandMarkets™ INC.
      1615 South Congress Ave.
      Suite 103, Delray Beach, FL 33445
      USA: +1-888-600-6441
      Email: [email protected]
      Visit Our Web Site: https://www.marketsandmarkets.com/
      Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-cybersecurity-market.asp
      Content Source: https://www.marketsandmarkets.com/PressReleases/industrial-cybersecurity.asp

      Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

      SOURCE MarketsandMarkets

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