Chicago, June 24, 2024 (GLOBE NEWSWIRE) -- The global Critical Infrastructure Protection Market size is projected to grow from USD 148.1 billion in 2024 to USD 178.3 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on "Critical Infrastructure Protection Market”
559 - Tables
53 - Figures
398 - Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=988
The growth of critical infrastructure protection (CIP) solutions is propelled by the rapid expansion of Internet of Things (IoT) devices, amplifying the vulnerability landscape. Simultaneously, continuous investments in infrastructure development, particularly in energy and transportation sectors, heighten the demand for advanced protection measures. This synergy underscores the need for robust security solutions to fortify critical assets against emerging threats.
Critical Infrastructure Protection Market Dynamics:
Drivers:
- Rising cyberattacks on critical infrastructure systems
- Government initiatives drive growth in critical infrastructure protection
- Technological development drives evolution in critical infrastructure protection
Opportunities :
- Rising adoption of IoT
- Rising infrastructure investment spurs demand for enhanced protection measures
Restraints:
- Lack of trained cybersecurity professionals
- Interoperability gap among critical infrastructure protection solutions
List of Top Critical Infrastructure Protection Companies:
- BAE Systems (US)
- Lockheed Martin (US)
- General Dynamics (US)
- Northrop Grumman (US)
- Honeywell (US)
- Airbus (France)
- Thales (France)
- Hexagon AB (Sweden)
- Johnson Controls (US)
- Motorola Solutions (US)
The rise in cyberattacks on critical infrastructure, coupled with increasing investments in sectors like data centers and EV charging, drives the demand for enhanced CIP measures.
Government initiatives worldwide, including stringent regulations and collaborative efforts from agencies like DHS and CISA in the US and similar programs in Europe, India, and Australia, further emphasize the importance of robust cybersecurity and resilience, fueling the growth of the CIP market.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=988
Trend: Quantum-Resistant Cybersecurity
Integrating Quantum-Resistant Cybersecurity technology, including post-quantum cryptography (PQC) and zero trust architecture (ZTA), marks a significant trend in CIP. These technologies address vulnerabilities in traditional cryptography, ensuring long-term security for critical infrastructure. Companies like ID Quantique and CyberProtonics exemplify this trend with advanced solutions that protect diverse domains from emerging quantum threats.
Trend: Blockchain Technology
Integrating blockchain technology in critical infrastructure protection (CIP) represents a significant technological trend, enhancing cybersecurity and resilience across sectors. Its decentralized, immutable, and transparent nature ensures tamper-proof records and secure transactions, reducing data manipulation and cyberattack risks. This innovation fosters trust and integrity in essential services, as evidenced by the Indian government's exploration of blockchain applications. It highlights its transformative potential in safeguarding critical infrastructure in an interconnected world.
Trend: Big Data Analytics
Integrating Big Data Analytics in critical infrastructure protection (CIP) represents a significant technological trend, enhancing the detection and prevention of cyber threats. Big Data Analytics improves threat detection accuracy and response speed by aggregating data from diverse sources and leveraging machine learning and AI algorithms. This technology aids in understanding cybercriminal behavior and integrates with existing security measures, creating a comprehensive security framework to protect critical assets against evolving threats.
By solution, the software segment accounts for the highest CAGR during the forecast period.
The rapid growth of the software segment in the Critical Infrastructure Protection (CIP) market stems from the increasing complexity of cyber threats targeting critical infrastructure assets worldwide. While legacy control systems remain segregated from the internet, the proliferation of IoT and IIoT technologies has introduced new vulnerabilities, leading to a surge in cyberattacks on critical infrastructure in recent years. CIP solutions leverage various software, including biometric authentication and advanced AI and ML technologies, to enhance security measures. These software solutions enable proactive detection and remediation of suspicious activities, unauthorized access attempts, and invasive intrusions into enterprise networks. With the escalating threat landscape and the rise of sophisticated cyberattacks targeting energy, utilities, and other sectors, efficient software becomes indispensable in quickly identifying threat actors and mitigating potential risks, making it a crucial component of the entire CIP process.
By vertical, the commercial sector vertical accounts for a larger share of the market.
The dominance of the commercial sector vertical in the Critical Infrastructure Protection (CIP) market is attributed to its critical importance and significant impact on national security and the economy. Commercial establishments such as hospitals, stadiums, malls, and offices are vital infrastructures requiring robust protection due to the high density of people and the heightened risk of potential threats. Despite existing security measures like CCTV cameras and access checks, these environments often face security gaps, necessitating advanced technologies for comprehensive security coverage. The growing threat of cyberattacks targeting critical infrastructure, as highlighted by the BlackBerry Global Threat Intelligence Report, further underscores the imperative for robust defenses. With over two million attacks thwarted in a short period and a surge in novel malware incidents, there is a pressing need for advanced AI-based defenses to effectively combat evolving threats targeting the commercial sector's critical infrastructure.
Opportunity: IoT Security Landscape: Navigating Opportunities for CIP Providers
The proliferation of IoT devices has revolutionized various domains, including smart cities, homes, transportation, and industries, driving the demand for critical infrastructure protection solutions. However, this surge in IoT adoption brings inherent security risks due to flaws such as cybersecurity standardization gaps, expanding attack surfaces, and outdated architecture. The 2023 SonicWall Cyber Threat Report reveals a 37% increase in global IoT malware attacks, highlighting the urgency to address vulnerabilities. Incidents like the Verkada breach underscore IoT devices' susceptibility to cyber threats, particularly in critical systems integration scenarios. Regulatory bodies like ENISA and legislative measures like the IoT Cyber Security Improvement Act aim to enhance IoT security in critical infrastructure industries. As IoT devices proliferate, robust protection solutions are imperative to safeguard vital systems and infrastructure from evolving cyber threats.
Browse Adjacent Markets: Information Security Market Research Reports & Consulting
