Saturday, June 15, 2024

Critical Infrastructure Protection Market worth $178.3 billion by 2029- Exclusive Report by MarketsandMarkets™

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Browse in-depth TOC on “Critical Infrastructure Protection Market
559 – Tables
53 – Figures
398 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2018-2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Billion) 

Segments Covered

Offering, Security Type, Vertical, And Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

List of Companies in covered critical infrastructure protection

Major vendors in the global Critical Infrastructure Protection Market include BAE Systems (US), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Thales (France), Hexagon AB (Sweden), Johnson Controls (US), Motorola Solutions (US), Axis Communications (Sweden), Forcepoint (US), Fortinet (US), Cisco (US), Huawei (China), G4S (UK), GE Vernova (US), NEC Corporation (Japan), Bruker Corporation (US), Fujitsu (Japan), Tenable (US), Rolta (India), Mission Secure (US), Optasense (UK), Teltronic (Spain), Waterfall Security Solutions (Israel), Westminister Group Plc (UK), Owl Cyber Defense Solutions (US), Achilles Heel Technologies (US), CIPS Security (US), Suprema Inc (South Korea), and SCADAfence (US). 

Based on the offering, services will grow at the highest CAGR during the forecast period.

The exponential growth of services in the CIP market can be attributed to the escalating threat landscape facing enterprises, national agencies, and defense organizations. With cyberattacks on critical infrastructure becoming more frequent and sophisticated, there is an urgent need to safeguard people, IT systems, and vital data. CIP services offer comprehensive solutions to address these evolving threats, including risk management, consulting, and managed services. Moreover, the increasing automation in surveillance systems and the adoption of remote monitoring infrastructures like oil and gas pipelines and smart grids further drive the demand for CIP services. Organizations, including governments and critical infrastructure owners, are turning to CIP service providers to enhance security, streamline workflows, and maximize efficiencies, catalyzing the rapid expansion of the CIP services market.

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By security type, physical security & safety accounts for the highest market size during the forecast period.

The physical and safety security types have the largest market size in the CIP market due to their paramount role in safeguarding critical infrastructure against various threats. Recent events, such as drone attacks on critical infrastructure, underscore the importance of robust physical security measures. Enterprises recognize the need to go beyond traditional perimeter security, leading to increased demand for advanced systems like high-quality video surveillance, perimeter intrusion detection, and access control. Moreover, advancements in video surveillance technology, including features like facial recognition and thermal cameras, enhance monitoring capabilities. With the coordination efforts of agencies like CISA and the increased adoption of security technologies across sectors like law enforcement and government utilities, the physical safety and security segment experiences rapid growth, ensuring the resilience and protection of critical infrastructure assets.

By region, Middle East & Africa will grow at the highest CAGR during the forecast period.

The Middle East & Africa is growing fastest in the CIP market due to the region’s rapid trajectory toward digitalization, propelled by increasing internet penetration and technological adoption. In South Africa, Transnet’s utilization of IoT technology for intelligent energy management is a prominent example, contributing significantly to the expansion of the CIP market across the region. Additionally, the Middle East, particularly in the oil and gas verticals, faces a surge in cyberattacks, including malware and ransomware incidents, due to its significant crude oil reserves, making it a lucrative target for cybercriminals. Consequently, critical sectors in the region, recognizing the pressing need for protection, are increasingly adopting essential infrastructure protection solutions to safeguard their assets from evolving cyber threats, thus driving the growth of the CIP market in the Middle East & Africa.

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Top Key Companies in Critical Infrastructure Protection Market:

BAE Systems (US), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Thales (France), Hexagon AB (Sweden), Johnson Controls (US), Motorola Solutions (US), Axis Communications (Sweden), Forcepoint (US), Fortinet (US), Cisco (US), Huawei (China), G4S (UK), GE Vernova (US), NEC Corporation (Japan), Bruker Corporation (US), Fujitsu (Japan), Tenable (US), Rolta (India), Mission Secure (US), Optasense (UK), Teltronic (Spain), Waterfall Security Solutions (Israel), Westminister Group Plc (UK), Owl Cyber Defense Solutions (US), Achilles Heel Technologies (US), CIPS Security (US), Suprema Inc (South Korea), and SCADAfence (US) are the key players and other players in the Critical Infrastructure Protection Market.

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