Global Critical Infrastructure Protection Market is expected to thrive at 6.8% CAGR over 2017-2024
Posted On September 14, 2018
Value Market Research has come up with a strong research analysis of the critical infrastructure protection market that showcases the global outlook. The research study includes latest trends in technology, major product developments, growth influencing factors, challenges and new opportunities that propel the growth of the global critical infrastructure protection market. The report identified that the market was valued at 82,260.3 million (by revenue) in 2017 and is expected to reach USD 129,660.7 million by 2024 with a CAGR of 6.8%. In this era of innumerable number of hacking, attacks, and theft threats, the security of the nation and its asset is of utmost importance. The critical infrastructure protection solutions are being rapidly adopted by various industries such as water supply, telecommunication, electricity, financial services, oil and gas, transmission and distribution, agriculture, food production and distribution, and security services. The rising IT expenditure, deployment of automation solutions, and efficient government policies and regulations are again fueling the market growth. Further, the advent of the technology in industrial systems and defense are some of the other factors stimulating the demand for this product. Also, with the rising cyber-attack on critical infrastructure zone, the investment on physical and information security is expected to increase over the forecast period. Besides, the ever-growing internet and interconnected network infrastructure are prompting organizations and governments to secure cyberspace in order to curb threat vulnerabilities.
Critical infrastructures are assets that are essential and serve as the backbone for the functioning of society and economy. This includes banking and finance, transportation, law enforcement agencies, energy, food production and distribution, water systems, federal and municipal services, and other emergency services– both government and private. Critical infrastructure protection is necessary for both the provision of security from the internal and external threats.
The latest statistical analysis and key highlights are mentioned in the recent research publication titled "Global Critical Infrastructure Protection Market is segmented By Security Technology (Network Security, Physical Security, and Others), Services (Risk Management Services, Consulting Services, Managed Services, And Maintenance & Support), Vertical (Energy And Power, Transportation System, And Sensitive Infrastructure & Enterprises) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024".
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The report covers the segmentation on the basis of security technology, services, vertical, and region. By security technology, the market is bifurcated into network security, physical security, and others. Physical security is gaining traction owing to the rising terrorist activities, stringent regulation by government, and increasing threats to physical assets. On the basis of services, the market is segmented into risk management services, consulting services, managed services, maintenance, and support. Among these, the managed service is dominating the segment owing to its efficient way to stay up to date with technology which helps to reduce operating cost and improve the quality of services. On the basis of vertical, the market is fragmented into energy and power, transportation system, sensitive infrastructure, and enterprises. Energy and power are the largest end-user industry areas driving the demand for CIP owing to the growing demand for recyclable products, changing consumer preferences, and discovery of depository that are underground where CIP plays important role to safeguard the nations assets. In terms of region, the research study covers the top five major regions including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among all the five regional market for critical infrastructure protection, the North America market has gained dominance owing to the rising cyber threats, susceptibility to terrorism and increasing investment in infrastructure protection. Additionally, implementation of various regulatory bodies by the U.S. government such as Homeland Security Presidential Directive and the National Infrastructure Protection Plan (NIPP) is further fueling the market growth.
The Report Segments Global Critical Infrastructure Protection Market -
By Security Technology
- Network Security
- Physical Security
- Risk Management Services
- Consulting Services
- Managed Services
- Maintenance And Support
- Energy And Power
- Transportation System
- Sensitive Infrastructure And Enterprises
- North America
- Latin America
- Middle East & Africa
Major Players In The Critical Infrastructure Protection Market Are:
Airbus Group SE, BAE Systems PLC, EMC Corporation, General Dynamics Corporation, Honeywell International, Inc., Intergraph Corporation, Lockheed Martin Corporation, McAfee, Inc., Northrop Grumman Corp., Raytheon Company, and Waterfall Security Solutions Ltd. are the major players in the market.
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