The research report titled, “Industrial Cybersecurity Market by Component (Solutions, Services), Security Type (Endpoint Security, Network Security), End User (Industrial Manufacturing, Transportation & Logistics) and Geography - Global Forecasts to 2030”, provides an in-depth analysis of industrial cybersecurity market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global industrial cybersecurity market is expected to reach $49.53 billion by 2030, growing at a CAGR of 14.8% during the forecast period of 2023-2030.
The growth of the industrial cybersecurity market is driven by the emergence of disruptive digital technologies and the increasing frequency & sophistication of cyberattacks. However, the shortage of trained professionals restrains the growth of this market. The growing need for cloud-based security solutions among SMEs and the increasing use of Artificial Intelligence, Machine Learning, and Blockchain technologies for cyber defense are expected to create growth opportunities for the players operating in this market. However, the increasing use of mobile devices as an attack vector and the vulnerability issues with IoT devices are major challenges for market growth.
Based on component, the market is segmented into solutions and services. The solutions segment is projected to grow at the highest CAGR during the forecast period. Increasing concerns regarding data security and privacy and the consistent efforts by shareholders in the industrial sector to improve efficiency, reduce costs, and increase security are expected to drive market growth.
Based on security type, the market is segmented into network security, application security, cloud security, endpoint security, and other security types. The endpoint security segment is projected to grow at the highest CAGR during the forecast period. The growth of the segment is attributed to the exponential rise in the number of endpoint devices and rising demand for endpoint security solutions to secure various enterprise networks.
Based on deployment mode, the market is segmented into on-premise deployment and cloud-based deployment. The cloud-based deployment segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the rapid evolution of new avenues for cloud-based deployments, the superior flexibility & affordability offered by cloud-based deployments, and the increasing incorporation of cloud-based solutions among small and medium-sized enterprises.
Based on end user, the market is segmented into industrial manufacturing, energy & utilities, transportation & logistics, and other end users. The industrial manufacturing segment is further sub-segmented into automotive, aerospace & defense, electronics & electrical, chemicals, heavy metals & machinery, FMCG, and other manufacturing industries. The transportation & logistics segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the technological advancements in the transportation sector, increasing sophistication of cyber risk and penetration of data breaches, and the rising need to secure supply chain & logistics systems.
The key players operating in the global industrial cybersecurity market are Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), F5, Inc. (U.S.), Splunk, Inc. (U.S.), Mandiant, Inc. (U.S.), Broadcom, Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Intel Corporation (U.S.), Imperva, Inc. (U.S.), Cyberark Software Ltd. (U.S.), and RSA Security LLC (U.S.).
The global industrial cybersecurity market is expected to reach $49.53 billion by 2030, growing at a CAGR of 14.8% during the forecast period of 2023-2030.
The growth of the industrial cybersecurity market is driven by the emergence of disruptive digital technologies and the increasing frequency & sophistication of cyberattacks. However, the shortage of trained professionals restrains the growth of this market. The growing need for cloud-based security solutions among SMEs and the increasing use of Artificial Intelligence, Machine Learning, and Blockchain technologies for cyber defense are expected to create growth opportunities for the players operating in this market. However, the increasing use of mobile devices as an attack vector and the vulnerability issues with IoT devices are major challenges for market growth.
Based on component, the market is segmented into solutions and services. The solutions segment is projected to grow at the highest CAGR during the forecast period. Increasing concerns regarding data security and privacy and the consistent efforts by shareholders in the industrial sector to improve efficiency, reduce costs, and increase security are expected to drive market growth.
Based on security type, the market is segmented into network security, application security, cloud security, endpoint security, and other security types. The endpoint security segment is projected to grow at the highest CAGR during the forecast period. The growth of the segment is attributed to the exponential rise in the number of endpoint devices and rising demand for endpoint security solutions to secure various enterprise networks.
Based on deployment mode, the market is segmented into on-premise deployment and cloud-based deployment. The cloud-based deployment segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the rapid evolution of new avenues for cloud-based deployments, the superior flexibility & affordability offered by cloud-based deployments, and the increasing incorporation of cloud-based solutions among small and medium-sized enterprises.
Based on end user, the market is segmented into industrial manufacturing, energy & utilities, transportation & logistics, and other end users. The industrial manufacturing segment is further sub-segmented into automotive, aerospace & defense, electronics & electrical, chemicals, heavy metals & machinery, FMCG, and other manufacturing industries. The transportation & logistics segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the technological advancements in the transportation sector, increasing sophistication of cyber risk and penetration of data breaches, and the rising need to secure supply chain & logistics systems.
Geographic Review:
Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the high penetration of connected devices in the industrial sector, the advent of Industry 4.0, the growing adoption of cloud-based solutions, and increasing cyberattacks in Asia-Pacific.The key players operating in the global industrial cybersecurity market are Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), F5, Inc. (U.S.), Splunk, Inc. (U.S.), Mandiant, Inc. (U.S.), Broadcom, Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Intel Corporation (U.S.), Imperva, Inc. (U.S.), Cyberark Software Ltd. (U.S.), and RSA Security LLC (U.S.).
Key questions answered in the report:
- Which are the high growth market segments in terms of component, security type, deployment mode, end user, and countries?
- What is the historical market for industrial cybersecurity across the globe?
- What are the market forecasts and estimates from 2023-2030?
- What are the major drivers, restraints, and opportunities in the global industrial cybersecurity market?
- Who are the major players in the global industrial cybersecurity market, and what shares of the market do they hold?
- Who are the major players in various countries, and what shares of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global industrial cybersecurity market?
- What are the different strategies adopted by the major players in the global industrial cybersecurity market?
- What are the geographical trends and high growth countries?
- Who are the local emerging players in the global industrial cybersecurity market and how do they compete with the other players?
Scope of the Report:
Market by Component
- Solutions
- Encryption
- Data Loss Prevention
- Unified Threat Management
- Firewalls
- Antivirus/Antimalware
- Intrusion Detection/Prevention System
- Security & Vulnerability Management
- Disaster Recovery
- Web Filtering
- Identity & Access Management
- Risk & Compliance Management
- DDS Management
- Services
- Professional Services
- Managed Services
Market by Security Type
- Network Security
- Application Security
- Cloud Security
- Endpoint Security
- Other Security Types
Market by Deployment Mode
- On-premise Deployment
- Cloud-based Deployment
Market by End User
- Industrial Manufacturing
- Automotive
- Aerospace & Defense
- Electronics & Electrical
- Chemicals
- Heavy Metals & Machinery
- FMCG
- Other Manufacturing Industries
- Energy & Utilities
- Transportation & Logistics
- Other End Users
Market by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- South Korea
- India
- Japan
- Taiwan
- Singapore
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Israel
- UAE
- Rest of Middle East & Africa
Table of Contents
1. Introduction1.1 Market Definition
1.2 Market Ecosystem
1.3 Currency and Limitations
1.3.1 Currency
1.3.2 Limitations
1.4 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Data Collection & Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Assessment
2.3.1 Market Size Estimation
2.3.2 Bottom-up Approach
2.3.3 Top-down Approach
2.3.4 Growth forecast
2.4 Assumptions for the Study
3. Executive Summary
3.1 Overview
3.2 Market Analysis, by Component
3.3 Market Analysis, by Security Type
3.4 Market Analysis, by Deployment Mode
3.5 Market Analysis, by End User
3.6 Market Analysis, by Geography
3.7 Competitive Analysis
4. Impact of COVID-19 on the Industrial Cybersecurity Market
5. Market Insights
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Emergence of Disruptive Digital Technologies
5.2.1.2 Increasing Frequency & Sophistication of Cyberattacks
5.2.2 Restraints
5.2.2.1 Shortage of Trained Professionals
5.2.3 Opportunities
5.2.3.1 Growing Need for Cloud-based Security Solutions Among SMEs
5.2.3.2 Increasing Use of Artificial Intelligence, Machines Learning, and Blockchain Technologies for Cyber Defense
5.2.4 Challenges
5.2.4.1 Increasing Use of Mobile Devices as an Attack Vector
5.2.4.2 Vulnerability Issues with IoT Devices
5.2.5 Trends
5.2.5.1 Technology Trends
5.2.5.1.1 Industrial Cybersecurity as-a-Services
5.2.5.2 Market Trends
5.2.5.2.1 Consistent Rising Adoption of Cloud Technologies
5.3 Regulatory Analysis
5.4 Case Studies
5.5 Porter's Five Force Analysis
6 Industrial Cybersecurity Market, by Component
6.1 Introduction
6.2 Solutions
6.2.1 Encryption
6.2.2 Data Loss Prevention
6.2.3 Unified Threat Management
6.2.4 Firewalls
6.2.5 Antivirus/Antimalware
6.2.6 Intrusion Detection/Prevention Systems
6.2.7 Security & Vulnerability Management
6.2.8 Disaster Recovery
6.2.9 Web Filtering
6.2.10 Identity & Access Management
6.2.11 Risk & Compliance Management
6.2.12 DDS Management
6.3 Services
6.3.1 Professional Services
6.3.2 Managed Services
7. Industrial Cybersecurity Market, by Security Type
7.1 Introduction
7.2 Network Security
7.3 Application Security
7.4 Cloud Security
7.5 Endpoint Security
7.6 Other Security Types
8. Industrial Cybersecurity Market, by Deployment Mode
8.1 Introduction
8.2 On-premise Deployment
8.3 Cloud-based Deployment
9. Industrial Cybersecurity Market, by End User
9.1 Introduction
9.2 Industrial Manufacturing
9.2.1 Automotive
9.2.2 Aerospace & Defense
9.2.3 Electronics & Electrical
9.2.4 Chemicals
9.2.5 Heavy Metals & Machinery
9.2.6 FMCG
9.2.7 Other Manufacturing Industries
9.3 Energy & Utilities
9.4 Transportation & Logistics
9.5 Other End Users
10. Industrial Cybersecurity Market, by Geography
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.2 Europe
10.2.1 U.K.
10.2.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 South Korea
10.3.3 India
10.3.4 Japan
10.3.5 Taiwan
10.3.6 Singapore
10.3.7 Rest of Asia-Pacific
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Rest of Latin America
10.5 Middle East & Africa
10.5.1. Israel
10.5.2. UAE
10.5.3. Rest of MEA
11. Industrial Cybersecurity Market-Competitive Landscape
11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Dashboard
11.3.1. Industry Leader
11.3.2. Market Differentiators
11.3.3. Vanguards
11.3.4. Contemporary Stalwarts
11.4. Vendor Market Positioning
11.5. Market Share Analysis
12. Company Profiles
12.1. Fortinet, Inc.
12.2. Cisco System, Inc.
12.3. Juniper Networks, Inc.
12.4. Palo Alto Network, Inc.
12.5. IBM Corporation
12.6. Check Point Software Technologies Ltd.
12.7. F5, Inc.
12.8. Splunk, Inc.
12.9. Mandiant, Inc.
12.10. Broadcom, Inc.
12.11. Oracle Corporation
12.12. Microsoft Corporation
12.13. Intel Corporation
12.14. Imperva, Inc.
12.15. CyberArk Software Ltd.
12.16. RSA Security LLC
13. Appendix
13.1 Questionnaire
13.2 Customization
Companies Mentioned
- Fortinet Inc. (U.S.)
- Cisco Systems Inc. (U.S.)
- Juniper Networks Inc. (U.S.)
- Palo Alto Networks Inc. (U.S.)
- IBM Corporation (U.S.)
- Check Point Software Technologies Ltd. (Israel)
- F5 Inc. (U.S.)
- Splunk Inc. (U.S.)
- Mandiant Inc. (U.S.)
- Broadcom Inc. (U.S.)
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Intel Corporation (U.S.)
- Imperva Inc. (U.S.)
- Cyberark Software Ltd. (U.S.)
- RSA Security LLC (U.S.).
