Increasing Cyber Attacks Has Increased the Demand for Industrial Cyber Security Solutions and Services Market

Globally, the industrial cyber security solutions and services market is expected to grow with a CAGR of 10.3% during the forecast period from 2023 to 2030 and had been estimated to register a market value of US$ 35.58 Bn by 2030. Rising digitalization, technological advancement, and urbanization have led industries to grow at a rapid pace. The industries are adopting various technologies such as cloud computing, AI, and others for sharing documents, additionally, the increase in the IoT devices in the industries is due to the sharing of data in real-time which is driving the market globally. Industrial cyber security solutions and services allow industries to track and secure their data from breaches and cyber attacks. These solutions have become a necessity for the industrial vertical due to a rise in cyber attacks.

Industrial Cyber Security Solutions and Services with Large Industry in its Industry Size Segment Continue Dominating the Market

In the base year of 2021, the large industry segment dominated the overall industrial cyber security solutions and services market with over 60.0% market share in terms of revenue. Large industries have high capital and invest heavily in new development and technology. Moreover, these industries also contribute to the cybersecurity solutions and service market as the increasing cyber attacks and breaches are increasing within the industries.

North America Dominates the Market by Region

The global industrial cyber security solutions and services market was led by North America with a market share than of more 35.0% in the year 2020. The region is one of the earliest adopters of technology. Moreover, the industries in the region are adopting IoT and connected devices, which are used for sharing information among them. Similarly, the presence of various key players in the region such as Dell Inc., IBM Corporation, IBM Corporation and are developing various solutions for ensuring cyber security for the industries.

Some of the prominent players operating in the industrial cyber security solutions and services are Symantec Corporation, Schneider Electric SE, IBM Corporation, Honeywell International Inc., Dell Inc., Siemens AG, Maverick Technologies, Lockheed Martin Corporation, Rockwell Automation, Inc., ABB Ltd., CyberArk Software Ltd., Bayshore Networks, Inc., McAfee, LLC, Kaspersky Lab, and Cisco Systems, Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Cyber Security Solutions And Services market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Industrial Cyber Security Solutions And Services market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Industrial Cyber Security Solutions And Services market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Industrial Cyber Security Solutions And Services market?
• Which is the largest regional market for Industrial Cyber Security Solutions And Services market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Industrial Cyber Security Solutions And Services market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Industrial Cyber Security Solutions And Services market worldwide?