(MENAFN- GetNews) According to report published by Grand View Research, The global critical infrastructure protection (CIP) market size was valued at USD 57.23 billion in 2016. It is anticipated to register a CAGR of 10.1% over the forecast period.
The global critical infrastructure protection market size is expected to reach USD 135.48 billion by 2025, according to a new study by Grand View Research, Inc., expanding at a CAGR of 10.1% during the forecast period. Increasing number of advanced & sophisticated cyber incidents on vital facilities & security systems of nations is one of the key trends triggering market growth over the forecast period. Reliance on the internet and information technology among other digital sources are creating avenues for adversaries to disrupt economic growth by attacking critical infrastructures such as the government, defense, and BFSI sectors.
Increasing cyber threats from potential adversaries and growing efforts to curb cyber-attacks on national security are important factors estimated to provide a fillip to the market. Rising cyber-attacks on critical infrastructure and its impact on national security are raising awareness among governments worldwide to deploy robust security posture.
Several nations have implemented and established stringent policies, strategies, and bodies that underpin security of critical infrastructure. For instance, the European Programme for Critical Infrastructure Protection (EPCIP) sets a framework for activities aimed at improving protection of Europe''s critical infrastructure. The National Infrastructure Protection Plan (NIPP) implemented by the U.S. government focuses on partnering with the private sector in an effort to enhance the security and resilience of various critical service sectors. Such implementation of cybersecurity framework and rapid initiatives by governments to protect public assets is likely to drive the market over the forecast period.
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Substantial innovations in information and communication technologies (ICT) are resulting in a significant increase in productivity of businesses. However, development of information technology has also opened capabilities of cyberspace to user for network infiltration and abusing digital infrastructure. Rising opportunities have elevated focus of organizations on cyber threats to computer networks, including information theft and sabotage, and acts that disrupt or deny services. Thus, investments in cybersecurity in various sectors witnessed a significant rise over a decade. With the emergence of OT, security of industrial control systems, and supervisory control & data acquisition (SCADA) systems has become imperative as these are most vital infrastructure in industrial and energy sectors. Thus, application of critical infrastructure protection in various industries is poised to show upswing owing to pressing need for protection of sensitive national assets and deter cyber-attacks.
Further key findings from the study suggest that:
- The OT security segment is anticipated to register the highest CAGR of 10.3% over the forecast period
- The IT security segment was valued at USD 22.7 billion in 2016, registering a healthy CAGR over the forecast period
- Consulting services are projected to maintain its dominance in the market until 2025, reaching a valuation of USD 43.84 billion
- Risk management services are expected to exhibit the highest CAGR of 11.7% over the forecast period
- North America is estimated to hold a dominant revenue share in the market until 2025. The region was followed by Europe, which held a share of 27.5% in the market in 2016
- Asia Pacific is likely to witness the fastest growth, registering a CAGR of 11.9% over the forecast period.
- Some of the key players in the market are BAE System Plc; General Dynamic Corporation; Honeywell International Inc.; Boeing; and Raytheon Company.
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/critical-infrastructure-protection-cip-market
Grand View Research has segmented the global critical infrastructure protection market on the basis of security type, services, application, and region:
Critical Infrastructure Protection Security Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Operational Technology
- Information Technology
Critical Infrastructure Protection Services Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Consulting Services
- Managed Services
- Risk Management Services
- Training & Support Services
Critical Infrastructure Protection Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Energy & Power
- Government & Defense
- IT & Telecom
Key Topics Covered
Table of Content
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Critical Infrastructure Protection - Market Snapshot & Key Buying Criteria, 2014 - 2025
2.1.1 Global Critical Infrastructure Protection Market, 2014 - 2025
Chapter 3 Critical Infrastructure Protection Industry Outlook
3.1 Market Segmentation
3.2 Critical Infrastructure Protection - Market Size and Growth Prospects
3.3 Critical Infrastructure Protection - Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market driver analysis
184.108.40.206 Increasing number of disruption in the cyber-domain
220.127.116.11 Growing government and compliance regulations
3.4.2 Market restraint analysis
18.104.22.168 Lack of shared real-time information on constantly evolving threats
3.5 Industry Analysis- Porter''s
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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