Critical Infrastructure Protection Market is Triggered by the rise in Security Breaches and Cyber Threats

Critical Infrastructure Protection Market

The critical infrastructure protection (CIP) system comprises security solutions that include risk & compliance management, identity & access supervision, antivirus, intrusion detection, encryption, and others. These network solutions help to protect the critical system’s network from ransomware, viruses, malware, attacks, and others. Critical infrastructure protection offers solutions to both the private and public sector which includes law enforcement agencies, transportation, federal & municipal services, banking & finance, food production & distribution, and other emergency services. These systems are required for minimum operations of the economy and government.

The global rise in the adoption of advanced technology and the increasing need for cyber security due to the rising number of cyber threats and security breaches are the key driving factors for the growth of the global critical infrastructure protection market. The rising number of cyber-attacks has increased the need for effective and efficient cyber security solutions, thereby boosting the demand of the CIP system market. Stringent government regulations to increase the adoption of critical infrastructure protection solutions for critical networks to reduce security breaches is further propelling the market growth.

Numerous private and public sectors are adopting advanced technologies to protect critical systems that drive market growth. Moreover, enhancing next-generation technologies and availability of wireless broadband in rural areas would increase the demand for critical infrastructure protection market and offer wide application to market players. However, the high cost required for the procurement and installment of critical infrastructure protection system is likely to restraint the market growth. In addition, lack of a skilled workforce and knowledge of managing systems may hamper the market growth. On the other hand, growing efforts of the key players to reach the untapped regions is expected to offer lucrative opportunities for the critical infrastructure protection market over the forecast period.

The global critical infrastructure protection market is divided based on component, end-user, and region. On the basis of component, the global market is split into solutions and services. The end-user segment consists of financial institutions, commercial sector, government, energy & power, and defense.

North America region is anticipated to dominate the global critical infrastructure protection market during the forecast period. Factors such as stringent government regulations on effective critical infrastructure security & flexibility in the region and public & private industry collaboration for infrastructure safety and development are driving the growth of this market in this region. The U.S. and Canada are the frontrunners of this region and drives the demand for critical infrastructure protection market. Asia Pacific is likely to hold the second position in the market and is projected to account for a significant share over the forecast period. This is attributed to the growing cyber threats and increasing government focus on infrastructure protection is expected to fuel market growth.

The critical infrastructure protection market is highly concentrated due to the presence of several international players. Tyco International plc, General Dynamics Corporation, Teltronic, Hexagon AB, Lockheed Martin Corporation, BAE Systems plc, Optasense, Honeywell International Inc., Airbus SE, The Raytheon Company, and Johnson Controls International are some of the major players that are operating in the global critical infrastructure protection market.

In 2019, the General Dynamics Corporation entered into a strategic collaboration with OEM Vera to incorporate cyber security software as a service.