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The report forecasts that the global industrial cybersecurity market will grow at a CAGR of 14.8% from 2023 to 2030, reaching $49.53 billion by 2030. The expanding adoption of emerging digital technologies and the increasing number of cyber threats are the major factors fueling market growth. Furthermore, the growing demand for cloud-based security among SMEs and the use of AI, ML, and Blockchain technologies in enhancing cyber defense strategies are expected to drive future market expansion. However, a lack of skilled personnel in the cybersecurity field may limit market growth.
The report provides an in-depth analysis of the market by component, security type, deployment mode, and end user, along with country and regional evaluations.
Component Analysis
The market is segmented into solutions and services. In 2023, the solutions segment is expected to account for the larger share due to heightened concerns over data security and increased investments in cyber defense measures. This segment is forecasted to experience the highest CAGR over the forecast period.
Security Type Analysis
The market comprises network security, application security, cloud security, endpoint security, and other categories. The endpoint security segment is expected to dominate in 2023, driven by the rising number of connected endpoint devices and the growing need to secure enterprise networks. This segment is projected to grow at the fastest rate over the forecast period.
Deployment Mode Analysis
In terms of deployment, the market is divided into on-premise and cloud-based models. By 2023, cloud-based deployment is anticipated to hold the largest share due to its scalability, flexibility, and cost-effectiveness, particularly among SMEs. This segment is also predicted to record the fastest growth rate during the forecast period.
End User Analysis
Key end-user segments include industrial manufacturing, energy & utilities, transportation & logistics, and others. The industrial manufacturing segment is expected to dominate in 2023, largely due to the increasing demand for real-time security monitoring and the growing frequency of cyberattacks. However, the transportation & logistics sector is expected to register the fastest growth over the forecast period.
Geographic Analysis
From a geographic perspective, North America is anticipated to hold the largest market share in 2023, driven by technological advancements and government efforts to safeguard critical infrastructure from cyber threats. However, the Asia-Pacific region is projected to achieve the fastest growth rate, fueled by rapid industrialization and a growing focus on cybersecurity in the region.
Key Players:
The key players operating in the 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.).
To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/industrial-cybersecurity-market-5316
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 for 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 do they hold?
- Who are the major players in various countries, and what shares 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 market?
- What are the geographic 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?
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