Global Critical Infrastructure Protection Market Analysis By Type of Infrastructure , By End User, Trends, Growth & Forecast 2023-2032

 

Global Critical Infrastructure Protection Market

The Global Critical Infrastructure Protection Market size was valued at USD 157.56 billion in 2022, and is projected to reach USD 182.57 billion by 2032 at a CAGR of 5.5% from 2022 to 2032.
Critical Infrastructure Protection (CIP) refers to the security measures taken to protect physical and digital systems that are essential for the functioning of a society or an economy. These systems include energy, water, transportation, communications, and financial systems, among others. CIP is crucial to prevent disruptions, cyberattacks, and other threats that could have catastrophic consequences for a country or a region. The Critical Infrastructure Protection Market is expected to grow significantly in the coming years due to the increasing number of cyber threats and the growing awareness of the importance of protecting critical infrastructure.
One of the major trends in the Critical Infrastructure Protection Market is the increasing use of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These technologies can help detect and prevent cyberattacks and other threats in real-time, by analyzing large amounts of data and identifying patterns that could indicate a potential attack. The Internet of Things (IoT) is also expected to play a significant role in the Critical Infrastructure Protection Market in the coming years. IoT devices are increasingly being used in critical infrastructure systems, such as smart grids, transportation systems, and water treatment plants. These devices can provide real-time monitoring and control capabilities, but they also increase the attack surface and the risk of cyberattacks. CIP solutions that can protect IoT devices and networks will be in high demand.
The European Commission's Joint Research Centre (JRC) publishes an annual report on the state of the European Union's critical infrastructure. The report provides information on the risks and vulnerabilities facing critical infrastructure in the EU, as well as recommendations for improving CIP. The UK government's Centre for the Protection of National Infrastructure (CPNI) publishes guidance and statistics related to critical infrastructure protection. The CPNI also publishes an annual report on the state of CIP in the UK, which includes information on threat levels and trends, as well as recommendations for improving security. The Australian Cyber Security Centre (ACSC) publishes guidance and statistics related to CIP. The ACSC also publishes an annual report on the state of cybersecurity in Australia, which includes information on threats to critical infrastructure and recommendations for improving security. Such factors are encouraging the growth of the global Critical Infrastructure Protection Market.
Growing number and sophistication of cyber threats is propelling Critical Infrastructure Protection Market growth.
As technology continues to advance and more critical infrastructure systems are connected to the internet and other networks, the potential attack surface for cyber threats increases. Cyber threats can come from a variety of sources, including nation-state actors, criminal organizations, and hacktivist groups. The impact of a successful cyberattack on critical infrastructure can be catastrophic, leading to disruptions in essential services such as electricity, water, and transportation. Such disruptions can have far-reaching consequences, including economic damage, loss of life, and damage to national security. Therefore, protecting critical infrastructure from cyber threats has become a top priority for governments and organizations around the world. As the number and sophistication of cyber threats continue to increase, the demand for the Critical Infrastructure Protection Market is also increasing. The increasing number and sophistication of cyber threats are a significant driving factor of the Critical Infrastructure Protection Market. As organizations and governments recognize the importance of protecting critical infrastructure from cyber threats, the demand for the Critical Infrastructure Protection Market will continue to grow.

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Market Segmentation:

By Type of Infrastructure
• Energy and Power Infrastructure
• Transportation Systems
• Communication Networks
• Water and Wastewater Infrastructure
• Government Facilities

By End User

• Finance
• Healthcare
• Defense
• Others

 Key Player:

Some key companies in the global Critical Infrastructure Protection Market:
• Honeywell International Inc.
• General Dynamics Corporation
• BAE Systems plc
• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Siemens AG
• Cisco Systems, Inc.
• IBM Corporation
• Schneider Electric SE
• Symantec Corporation
• McAfee, LLC
• FireEye, Inc.
• Fortinet, Inc.
• Palo Alto Networks, Inc.
• Trend Micro Inc.

 

Regional Analysis:

North America accounted for the largest revenue share in the global CIP market. With the rising cybercrimes and attacks, governments of various countries across the region are anticipated to impose stringent regulations within the public and private sectors, which will surge the market demand. Additionally, rising investment in public protection is creating opportunities for players in the market. Various end-use industries operating in the cybersecurity industry focus on R&D, which provides lucrative CIP market growth to both business and technical innovations.

For instance, according to the Institute for Electric Innovation (IEI), the penetration of installed smart meters was estimated to rise from USD 98 million to USD 107 million during 2023-2024. It includes the expansion of market players such as Energy Advanced Metering Infrastructure (AMI), Salt River Project (SRP), and AEP Ohio. These projects are in the US cities, such as Ohio, Louisiana, Texas, and Mississippi.

Moreover, the Asia Pacific market is anticipated to exhibit the highest CAGR over the forecasting years. The rapid technological development in defense and industrial systems are some of the major driving factors surging the growth across the region. It is found that various developing and developed countries such as China and India are estimated to be the site of a high growth rate with rising investments in defense and critical infrastructure protection software and hardware.

The market players are more focused on their geographical expansion in the Asia Pacific, which enhances the market expansion. The Asia Pacific is leading in the adoption of digitalization which includes South Korea with 95% population, Israel with 88% population and followed by China, India, etc. Hence, the increasing proliferation of the internet and rising acceptance of the developing technologies by the population is fueling the market demand in the forthcoming scenario.

 

Key Points: 

Here are some recent news and developments related to the Critical Infrastructure Protection market:
• In February 2022, the US Department of Homeland Security issued a directive requiring critical infrastructure organizations to implement multi-factor authentication (MFA) to enhance security. The directive aims to protect critical infrastructure systems from cyberattacks and data breaches.
• In January 2022, Siemens Energy announced a partnership with Fortress Information Security to offer industrial cybersecurity solutions to critical infrastructure organizations. The partnership aims to provide comprehensive cybersecurity solutions to protect critical infrastructure systems.
• In December 2021, the European Union announced plans to create a new agency to improve the cybersecurity of critical infrastructure systems across the region. The agency will focus on providing guidance and support to member states in securing their critical infrastructure systems.
• In November 2021, the Australian government announced plans to invest AUD 1.2 billion in cybersecurity over the next decade to protect critical infrastructure systems from cyberattacks. The investment will fund initiatives such as threat intelligence sharing and the development of a cybersecurity workforce.
• In October 2021, the US Federal Energy Regulatory Commission (FERC) approved new cybersecurity standards for the electric grid, requiring utilities to implement measures to protect against cyberattacks. The new standards aim to strengthen the cybersecurity of the electric grid and protect against cyber threats to critical infrastructure systems.

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