Global Critical Infrastructure Protection Market: by Technology (Cyber Security, Physical Security), Service (Consulting, Managed, Risk Management, Maintenance & Support), Vertical (Transportation Services, Energy & Power) – Forecast till 2023
Critical infrastructure protection refers to responding to serious incidents that involve critical infrastructure of a particular region. The critical infrastructure protection includes assessments of protection, vulnerability, risk, and mitigation. Rise in security breaches and cyber-attacks are majorly driving the growth of the critical infrastructure protection market
Technology giants such as BAE Systems, General Dynamics Corporation, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, IBM, and Huawei Technologies are some of the major players in the critical infrastructure protection market. BAE Systems entered the critical infrastructure market in 2012 to strengthen and protect critical and public infrastructure including buildings, bridges, and pipelines. The company provides security solutions such as access control, perimeter protection, lighting management, video analytics, biometric identification, intelligent surveillance, intrusion detection and alarm panels, and CCTV and video management. The company focuses on designing critical infrastructure protections for different asset types and different market expectations.
Increasing demand for mobile applications and growing popularity of e-commerce and increasing implementation of cloud based services for business processes are other major factors driving the growth of the global critical infrastructure protection market. Furthermore, increasing awareness regarding security and surveillance is boosting the growth of the market. High investments in smart grid technologies is another major factor driving the growth of critical infrastructure market.
The global critical infrastructure protection market is expected to grow at a CAGR of approximately 15% during the forecast period 2019-2023.
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The global critical infrastructure protection market is segmented on the basis of technology, service, and vertical. The service segment is classified as consulting services, managed services, risk management services, and maintenance and support services. However, the managed services are expected to hold the largest market share of the critical infrastructure protection market. Critical infrastructure protections offer various benefits to the businesses at low costs owing to the increasing deployment of the cloud-based services.
The global critical infrastructure protection market has been segmented on the basis of technology, service, and vertical. The technology segment is further classified into cyber security and physical security. However, the physical security is expected to hold the major share of the market owing to the increasing need for physical security solutions. High adoption of security and surveillance measures at organizations is another major factors driving the growth of critical infrastructure protection market.
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. The U.S. holds the majority of the market share both in terms of revenue as well as the adoption of mobile applications.
Some of the prominent players in the global Critical Infrastructure Protection Market: BAE Systems (UK), General Dynamics Corporation (US), Honeywell International Inc. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Airbus Group SE (Netherlands), Hexagon AB (Sweden), Johnson Controls International PLC (Republic of Ireland), Thales Group (France), Teltronic S.A. (Spain), OptaSense (UK), Motorola Solutions, Inc. (US), Huawei Technologies Co., Ltd. (China), Axis Communications AB (U.S.), Robert Bosch (Germany), IBM Corporation (U.S.), McAfee, Inc. (U.S.) and Symantec Corporation (U.S.).
The North American region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. U.S. and Canada are dominating the North American market due to rising technological enhancements and increasing popularity of security measures in enterprises in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, increasing implementation of cloud based technologies is another major factor driving the growth of the critical infrastructure protection market in the region.
The global critical infrastructure protection market is studied for Asia Pacific, North America, Europe, and Rest of the World.It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to technological advancements and increased adoption of mobile devices enabled with NFC services across various industry verticals.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- CIP system and solution vendors
- CIP software vendors
- Independent software vendors
- System integrators
- Managed CIP service providers
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