The “Critical Infrastructure Protection Market by Component, Solution (Physical Safety and Security (Video Surveillance Systems, Screening and Scanning) and Cybersecurity (Encryption, Threat Intelligence)), Vertical, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The post-COVID 19 critical infrastructure protection market size to grow from USD 133.3 billion in 2021 to USD 157.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 3.3% from 2021 to 2026.
The major factors fueling the Critical infrastructure protection market include increasing stringent government regulations to increase the adoption of CIP solutions, rising security breaches and attacks pose a threat to physical systems and growing need to secure OT networks in wireless broadband to boost the growth of critical infrastructure protection market across the globe during the forecast period.
Services to grow at a higher CAGR during the forecast period
On the basis of services, the CIP market is segmented into risk management services, consulting services, managed services, and maintenance and support services. CIP services are necessary for the protection of people, building infrastructure, IT systems, and critical data. The increased instances of cyberattacks on enterprises, national agencies, defense organizations, and commercial users have become a major concern. In May 2017, a ransomware named WannaCry targeted computers that were run on Windows Operating System (OS). WannaCry is one of the majors cyberattacks in the last three years. Stuxnet and Flame attacks are other cyberattacks that have a major impact. Stuxnet have a direct effect on critical infrastructure, which has a negative impact on cybersecurity environments.
Stuxnet and Flame are believed to be the most vulnerable computer worms created by some national state modular computer malware. Governments and owners of critical infrastructure are taking the assistance of CIP service providers and consultants for streamlining workflows, maximizing efficiencies, and improving security. Several enterprises and agencies offer services, such as field engineering/design (planning, risk analysis, mitigation, and response and reconstitution), IT managed security and services (managed monitoring and cloud-based services), maintenance, and support and consulting. Due to the need for automation in surveillance systems, and information protection and remote monitoring infrastructures such as oil and gas pipelines, smart grids, and nuclear reactors, the demand for unique solutions is on the rise. This requirement is expected to drive the adoption of CIP services during the forecast period.
In Hardware segment, thermal cameras to have the highest market share during the forecast period
Thermal cameras effectively translate heat into visible light to analyze surroundings. Such cameras are widely deployed at critical infrastructure sites for security purposes. Major players are investing in increasing their product portfolios in thermal technologies. In January 2021, Teledyne Technologies (US) announced the acquisition of a thermal camera supplier FLIR Systems for USD 8 billion.
- Increasing Stringent Government Regulations to Increase the Adoption of CIP Solutions
- Rising Security Breaches and Attacks Pose a Threat to Physical Systems
- Growing Need to Secure Networks
- High Procurement Costs of Cip Solutions
- Technical Complexities and Lack of Interoperability Between Cip Solutions
- Rise in the Adoption of Cloud Technology and IoT Devices
- R&D Investments by Governments and Enterprises to Develop Robust Cip Solutions
- Lack of Trained Security Analysts to Analyze CIP Systems
- Accritical Infrastructure Protectioniter Radar
- Axis Communications
- Bae Systems
- General Dynamics
- Hexagon Ab
- Icritical Infrastructure Protection
- Johnson Controls
- Lockheed Martin
- Mission Secure
- Motorola Solutions
- Northrop Grumman
- Tyco International
- Waterfall Security Solutions
- Wave Representatives
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