Critical Infrastructure Protection Market worth $162.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 22, 2023 /PRNewswire/ -- The Global Critical Infrastructure Protection Market size is projected to grow from an estimated USD 143.0 billion in 2023 to USD 162.5 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 3.3 % from 2023 to 2027, according to a new report by MarketsandMarkets™. Rising cyberattacks organizations have faced in recent years are one of the factors driving the market growth.
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By solution, software to grow at a higher CAGR during the forecast period.
Since the last few years, cyber-attacks on critical infrastructure have been increasing. They are becoming sophisticated and complex, primarily targeted toward organizations in the energy, utilities, and other sectors, causing system shutdowns and disruptions in operations. CIP solutions use various software, including biometric authentication, to capture, verify, and record user identities and provide staff with permissible access to various enterprise resources. Introducing and integrating Artificial Intelligence (AI) and Machine Learning (ML) technologies help CIP software proactively detect and remediate suspicious activities and unauthorized and invasive access requests on enterprise networks. With the growing number of cyber-attacks and frauds such as identity theft, highly efficient software can quickly identify threat actors and notify the system. Therefore, the software is an essential part of the entire CIP process.
By cybersecurity segment, threat intelligence accounts for the largest market size during the forecast period
Threat intelligence collects and analyses information about the existing and evolving threat vectors from multiple sources to provide actionable threat intelligence feeds and reports, which various security control solutions can effectively utilize. Such solutions keep critical infrastructure informed of the risk of APTs, zero-day attacks, and threats and help them protect themselves from the possibility of data breach occurrences. Threat intelligence includes sandboxing, wherein the suspected malicious sample is not executed in environments but is implemented in different cocoon environments and checked if it is malicious. It is mainly used to identify false positives. By setting the suspicious, malicious sample aside from other programs in separate environments, organizations ensure that errors or security issues would not spread to other system areas. This way, enterprises can save their systems from malware attacks and prevent them from crashing.
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By region, North America accounts for the largest market size during the forecast period
The North American region consists of developed countries that are technologically advanced with well-developed infrastructures. The most robust economies in North America, the US, and Canada are the top contributing countries to the North American CIP market. North America is the most advanced and adaptable region in adopting security infrastructure and technological development. Public-Private Partnerships (PPPs) and international collaborations have led to adequate critical infrastructure security and resilience in the region. As per the Department of Homeland Security (DHS), the private sector owns 85% of the US critical infrastructures, such as oil and gas, banking and finance, transportation, utilities, electric power grids, and defence public sector regulates the rest. The National Infrastructure Protection Plan (NIPP) enables state, regional, federal, local, and international governments to work within and with their private partners for a networked community to maintain adequate risk management and security of the region's critical infrastructure. For example, the energy and power grid sector in the region requires public, private, and regulatory cooperation among DHS, the Department of Energy (DOE), and the Department of Defence (DOD) to protect their Operational Technology (OT) systems from cyber threats. International cooperation between Public Safety (PS) Canada and the US DHS has facilitated real-time collaborations for critical infrastructure cybersecurity issues. Therefore, it is necessary to regulate and monitor industrial infrastructures and perform risk assessments for analyzing potential vulnerabilities in the critical infrastructure system.
The major vendors in 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), and Huawei (China).
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