Industrial Cybersecurity Market Insights, Current And Future Trends & Forecast 2020-2027

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including security type, offering, end-user industry, and regions.

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Leading Players in the Industrial Cybersecurity Market:

The Industrial Cybersecurity Market is fairly fragmented, and a number of global and regional players operating in the market are:

Honeywell International Inc.
IBM
Cisco Systems, Inc.
ABB
McAfee, LLC
Schneider Electric
Dell
Siemens
Rockwell Automation, Inc.
Fortinet, Inc.

Industrial Cybersecurity Market drivers:

The significant factor driving the growth of the global industrial cybersecurity market include the growing incidences of cyberattacks on the industrial control systems majorly owing to the introduction of the Industrial Internet of Things (IIoT) in the operations which is leading to an upsurge in the cybersecurity risk. Moreover, the rising number of funding by the government to develop a structure required to improve cybersecurity in the industries worldwide is also a major factor fuelling the growth of industrial cybersecurity in the market. Furthermore, the growing use of the internet and the increasing use of IT systems have increased the risk of information security and data privacy, further bolstering the demand for industrial cybersecurity in the market in the upcoming years. On the other hand, the lack of required framework and funds for the development of cybersecurity solutions and limited awareness among the industries associated with the need for cybersecurity in the industrial control systems will hamper the growth of the global industrial cybersecurity market.

For example, especially in 2020, the government declared an investment of USD 1.35 billion to strengthen Australia's cybersecurity capabilities in the upcoming years. Out of this USD 1.35 billion, USD 35 million will be used to develop a new cyber threat-sharing platform that allows the government and industry to share intelligence about any sort of malicious cyber activity and block the appearing threats in near real-time.

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Industrial Cybersecurity Market Segmentation:

According to the report published by GMI Research, titled “Industrial Cybersecurity Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Security Type:

Endpoint Security
Network Security
Cloud Security
Application Security
Wireless Security
Others

By Offering:

Networking Devices

Routers
Industrial Ethernet Switches

Gateways
Services

Managed Services
Professional Services

Audit & Reporting
Risk Management Services (RMS)
Design Integration & Consulting

Solutions

Firewall
Antivirus/Malware
Virtualization Security
SCADA Encryption
Security Information and Event Management (SIEM)
Data Loss Prevention (DLP)
Identity and Access Management (IAM)
Intrusion Detection System/Intrusion Prevention System
Distributed Denial of Service (DDOS)
Unified Threat Management (UTM)
Others

By End-User Industry:

Utilities
Power
Chemicals & Manufacturing
Transportation
Others

By Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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