The Critical Infrastructure Protection Market Is Expected To Reach A CAGR Of 4% In 2032

Posted on 2022-11-01 by Fact.MR in Technology // 0 Comments

The critical infrastructure protection market has garnered a market value of US$ 137.8 Billion in 2022, anticipated to register a positive CAGR of 4% in the forecast period 2022-2032 and reach a value of US$ 204.2 Billion. Increasing stringent government regulations aiming at increasing the adoption of critical infrastructure protection (CIP) solutions have helped propel the growth of the market in various regions.

The growing threat of cyber-attacks and security breaches to physical systems is leading to the growing requirement to protect OT networks across the globe in the coming years, which is boosting the growth of the critical infrastructure protection market across the globe.

According to Fact.MR, market research and competitive intelligence provider, from 2015 to 2021, the global market for critical infrastructure protection has grown at a CAGR of 3.3%. An increase in the availability of next-generation technologies in rural areas, and a mobile broadband network could provide lucrative opportunities for vendors of critical infrastructure protection services.

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How is Market Demand for Critical Infrastructure Protection being driven by R&D Activities?

The development of modern applications and infrastructure depends heavily on the collection and analysis of real-time physiological data. The purchase of CIP solutions by several government initiatives and investments in R&D projects has propelled the market demand for critical infrastructure protection solutions in the market.

The researchers conduct various studies on the development of software that can be used to prevent cyberattacks on the market. Researchers are conducting various studies in an effort to determine whether there are any environmental threats to businesses and how they can protect information that is stored on connected devices when they are in use. In response to the growing concern about privacy, companies have started to develop data protection programs to enhance data security and prevent data breaches.

Moreover, the researchers also found out how data protection can be improved in different verticals of the industry by leveraging the availability of CIP for different industries. In recent years, government and non-government organizations have made a variety of R&D investments that are pushing the market for critical infrastructure protection of defense activities.

How is the Market expected to Fare in the U.S?

The United States is projected to hold the largest market share in 2022 and will continue to hold this position throughout the forecast period. US revenues constitute 3.8% of the global revenue. Through Public-Private Partnerships (PPPs) and their integration into international organizations, the security, and resilience of critical infrastructure in the region are greatly enhanced.

It is evident that both the e-commerce industry and the electric power industry become increasingly reliant on CIP solutions for their needs, due to which there is a high demand for the CIP market in this region.

With the increasing number of IT businesses and cyber-attacks, the market demand for CIP has increased. Thus, the U.S. government has a preference for ensuring the safety of the critical infrastructure of various nations that are located in the region.

According to estimates, the CIP market will have a market value of 72 billion dollars in 2032. As the number of small-scale and large-scale vendors in this market continues to grow, there is a strong drive to boost the market demand for CIP in this region. The adoption of smart grid technology in this region to prevent power failures and promote self-repairs among connected devices has contributed to the growth of the CIP market.

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Acquisition of Disruptive Technologies to Heighten Competition

Collaborations with manufacturers make it possible for businesses to increase production and meet consumer demand, which increases revenue and market share. As a result of new technologies and innovations, end-users will be able to benefit from products and funding in the industries.

In October 2021, MITRE formed two new groups to better focus on critical infrastructure cybersecurity challenges and new approaches to public health issues.With these new groups, the firm will be able to move faster and be bolder in protecting infrastructure across the nation and leveraging clinical and genomic data for tackling infectious diseases and taking advantage of precision medicine.
In April 2022, Airbus Defence and Space announced the acquisition of DSI Datasicherheit GmbH. DSI and Airbus have maintained a partnership for many years before this transaction. Aerospace Data Security GmbH will become the new name for DSI DS after it is acquired fully by Airbus Defence and Space GmbH. This will further enhance Airbus’ cryptography capabilities thus enabling the development of secure systems from end to end. Neither the terms nor the value of the agreement were disclosed.

Key Segments Covered in Critical Infrastructure Protection

By Component

Solution
Hardware
Software
Services
Professional Services
Managed Services

By Solution

Physical Safety and Security
Physical Identity and Access Control Systems
Perimeter Intrusion Detection Systems
Video Surveillance Systems
Screening and Scanning
Others
Cybersecurity
Encryption
Network Access Controls and Firewalls
Threat Intelligence
Other Cybersecurity Solutions

By Vertical

Financial Institutions
Fire Fighters
Law Enforcement
Other First Responders
Government, Defense
Transport and Logistics
Highways and Bridges
Railway Infrastructures
Sea Ports
Airports
Energy and Power
Power Generation
Power Grids
Commercial Sector
Telecom
Chemical and Manufacturing
Chemicals
Heavy Engineering Manufacturing
Oil and Gas
Upstream
Midstream
Other Verticals

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How is Market Demand for Critical Infrastructure Protection being driven by R&D Activities?

How is the Market expected to Fare in the U.S?

Acquisition of Disruptive Technologies to Heighten Competition

Key Segments Covered in Critical Infrastructure Protection

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