Industrial Cybersecurity Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Industrial Cybersecurity Market was valued at USD 19 billion in 2023 and is projected to grow at a CAGR of over 8.5% from 2024 to 2032. The market's robust growth is primarily fueled by the rising frequency and sophistication of cyber threats. As industries increasingly intertwine and lean on digital technologies, the urgency to protect critical infrastructure from potential attacks has grown.

Heightened investments in cybersecurity are energizing the industrial cybersecurity sector, channeling resources into pioneering solutions. For example, in October 2023, SYN Ventures successfully wrapped up the first funding round of its dedicated cybersecurity seed fund, securing upwards of USD 75 million. This SYN Seed Fund aims to champion avant-garde and transformative solutions, prioritizing major breakthroughs over incremental enhancements.

The industrial cybersecurity industry is segmented into deployment model, security, component, end-use industry, and region.

The market, segmented by deployment model, comprises on-premises and cloud solutions. In 2023, the on-premises segment commanded a dominant share, exceeding 70%. The adoption of the on-premises model is being driven by partnerships that emphasize securing vessels and their cyber endpoints. Furthermore, collaborations between cybersecurity firms and maritime organizations bolster the protection of these vessels and their associated endpoints.

Security-wise, the industrial cybersecurity market encompasses network, endpoint, application, cloud, wireless security, and more. In 2023, the network security segment emerged as a front runner, capturing a 30% share of the revenue. The imperative to thwart network breaches across sectors is fueling the growth of network security. Given the uptick in cyber threats across diverse industries, robust network security measures have also become paramount.

North America dominated the global industrial cybersecurity industry, clinching over 30% of the market share in 2023, driven by swift technological strides in cybersecurity. Breakthroughs in threat detection, AI-centric security solutions, and real-time monitoring have fortified defenses against shifting cyber threats. As industries embrace these cutting-edge cybersecurity strategies to shield their critical infrastructure, North America's market is poised for growth. Moreover, the relentless evolution of security technologies continues to be a catalyst, pushing the regional market ahead.

Product Code: 10583

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market scope and definition

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Solution provider
- 3.2.2 Service provider
- 3.2.3 Technology provider
- 3.2.4 End-user
3.3 Profit margin analysis
3.4 Technology innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 The rising frequency and complexity of cyber threats
  - 3.8.1.2 The increasing integration of industrial systems with the internet
  - 3.8.1.3 Growing shift towards cloud and edge computing
  - 3.8.1.4 Increasing digital transformation in industries
  - 3.8.1.5 Advancements in cybersecurity technologies
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 Poor cybersecurity budget
  - 3.8.2.2 Complexity of OT environment
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2021-2032 ($Mn)

5.1 Key trends
5.2 Solution
5.3 Services

Chapter 6 Market Estimates and Forecast, By Deployment Model, 2021-2032 ($Mn)

6.1 Key trends
6.2 Cloud
6.3 On-premises

Chapter 7 Market Estimates and Forecast, By Security, 2021-2032 ($Mn)

7.1 Key trends
7.2 Network security
7.3 Endpoint security
7.4 Application security
7.5 Cloud security
7.6 Wireless security
7.7 Others

Chapter 8 Market Estimates and Forecast, By End-Use Industry, 2021-2032 ($Mn)

8.1 Key trends
8.2 Process
- 8.2.1 Oil and gas
- 8.2.2 Chemical
- 8.2.3 Food and beverages
- 8.2.4 Energy and power
- 8.2.5 Others
8.3 Discrete
- 8.3.1 Automotive
- 8.3.2 Electronics
- 8.3.3 Heavy manufacturing
- 8.3.4 Packaging
- 8.3.5 Others

Chapter 9 Market Estimates and Forecast, By Region, 2021-2032 ($Mn)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.4.7 Rest of APAC
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of LATAM
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 ABB Ltd.
10.2 AO Kaspersky Lab
10.3 Check Point Software Technologies Ltd
10.4 Cisco Systems Inc.
10.5 Dell Technologies Inc.
10.6 Honeywell International Inc.
10.7 IBM Corporation
10.8 Microsoft Corporation
10.9 OPSWAT Inc.
10.10 Palo Alto Networks
10.11 Proofpoint Inc.
10.12 Rockwell Automation Inc.
10.13 Schneider Electric SE
10.14 Siemens AG
10.15 Splunk Inc.
10.16 Trend Micro Inc.