Global Industrial Cybersecurity Market: Snapshot

The global industrial cybersecurity market is prognosticated to gain impetus due to the rising incidence of cybercrimes across discrete and process management industries. The expansion of the global industrial cybersecurity market could be a result of increase in internet penetration in different parts of the world. Rise in demand for industrial cybersecurity in other end-use industries, viz. automotive, oil and gas, aerospace and defense, and energy and power is expected to push the growth of the global market. On the other hand, increasing adoption of IoT in industrial control systems and cloud security solutions could stoke the demand in the global industrial cybersecurity market.

The global industrial cybersecurity market is predicted to log a 9.2% CAGR during the forecast period 2018-2026 to reach a valuation of US$29.97 bn by the end of 2026. In 2017, the global industrial cybersecurity market bagged a US$13.75 bn.

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Antivirus/Malware Gathers Significant Share to Push Software Solution Higher

On the basis of end-use industry, the global industrial cybersecurity market is classified into two main segments, i.e. discrete and process industries. Discrete industries are further bifurcated into FMCG, metal and mining, medical devices, electrical and electronics, aerospace and defense, and automotive. Process industries are also further classified, where key sub-segments are water and wastewater treatment, energy and power, pharmaceutical, pulp and paper, food and beverages, chemical, and oil and gas. By security layer, the global industrial cybersecurity market is divided into application, cloud, end-point, and network securities.

On the basis of component, the global industrial cybersecurity market is segregated into three chief classifications, viz. services, software solution, and hardware solution. Among these, software solution is prophesied to secure a lion’s share of the global industrial cybersecurity market in the coming years. Software solution is further segmented into DDoS, application whitelisting, UTM, IAM, DLP, virtualization security, SCADA encryption, SIEM, antivirus/malware, backup and recovery, firewall, and IDS/IPS. Among these, antivirus/malware could gain a larger share of the global industrial cybersecurity market.

Hardware solution is further cataloged into Ethernet switches, gateways, routers, and other networking devices. Among these, Ethernet switches are foreseen to dominate the global industrial cybersecurity market in the near future. Services are also further classified into risk management, managed services, assessments and audits, consulting and training, and maintenance and integration. Among these, managed services are projected to collect a king’s share of the global industrial cybersecurity market as the number of cyberattacks increases in the coming years.

Strong Increase in User Base Pans Out for North America to Lead Market

Geographically, North America is envisaged to lead the global industrial cybersecurity market, taking into account the massive count of users existing in the region. In 2017, the regional industrial cybersecurity market could rise at an 8.4% CAGR. Europe could follow suit as it shows a similar growth trend during the course of the aforementioned forecast period. After Asia Pacific, the MEA is anticipated to exhibit a higher CAGR in the global industrial cybersecurity market. The growth in the Asia Pacific industrial cybersecurity market could not be turned a blind eye to. The emerging region is forecast to show a promising rise in the global industrial cybersecurity market owing to its aggressive rate of industrialization.

The global industrial cybersecurity market witnesses the presence of prominent names of the industry such as CyberArk Software Ltd., Rockwell Automation, Inc., and Schneider Electric SE.

Industrial Cyber Security Market: Overview

This comprehensive report on Industrial Cyber Security (Solutions and Services) Market [(By Component – Hardware Solutions, Software Solutions, and Services; By Security Layer – Network Security, End-point Security, Cloud Security, Application Security and Others; By End Use Industry - Process Industries and Discrete Industries)] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026 by Transparency Market Research, analyzes and provides growth forecast for the industrial cyber security market at the global and regional level which includes Asia Pacific, South America, North America, Middle East & Africa (MEA), and Europe. The report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and the base year is 2017. An in-depth and unbiased market assessment has been made to offer readers insightful and accurate analysis. The report focuses on all the major trends and services playing a key role in industrial cyber security market growth over the period 2018 - 2026. It also focuses on restraining factors, market drivers, and opportunities of the industrial cyber security market’s growth during the said period.

The report includes a detailed ecosystem analysis, which offers a widespread view of the global industrial cyber security market. Porter’s Five Forces analysis is also provided to understand the competitive scenario in the global industrial cyber security market. The study incorporates market attractiveness analysis of the industrial cyber security market, wherein the segments, for instance software solutions, hardware solutions, and services, are benchmarked based on their market size, growth rate, and attractiveness in terms of opportunity. In order to give a complete analysis of the overall competitive scenario in the industrial cyber security market, every geographic region mentioned in the report, is provided with an attractiveness analysis.

Overview of the industrial cyber security market, detailing key market trends and dynamics has been included to provide a clear understanding of ecosystem forces. Dynamics includes impact analysis of market restraining factors, drivers and opportunities of the industrial cyber security market. Additionally, the report also provides analysis of different business strategies being adopted by market leaders of this market. Trends and services related to industrial cyber security solutions along with their applications have also been explained in the report.

Global Industrial Cyber Security Market: Scope of the Report

The study provides a decisive view on the global industrial cyber security market, broadly segmented by component as software solutions, hardware solutions, and services, by security layer as network security, end-point security, cloud security, application security and others, and by end use industry as process industries and discrete industries. Further, the report provides detailed breakdown of the industrial cyber security market across geographic regions, which include North America, Europe, Asia Pacific, Middle East & Africa, and South America, thus providing valuable insights at micro and macro levels.

The report highlights the competitive scenario within the industrial cyber security market, thus ranking all the major players according to their key recent developments and their geographic presence. Insights for the industrial cyber security market are the result of our extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal and technological factors.

On the basis of country, the North America market is segmented into the U.S., Canada, and Rest of North America. Furthermore, the Europe market is analyzed across France, Germany, U.K., and Rest of Europe. APAC industrial cyber security market is also segmented at country level which includes China, Japan, India, and Rest of Asia Pacific. Middle East & Africa covers the G.C.C., South Africa, and Rest of Middle East & Africa. Similarly, South America region includes Brazil and Rest of South America. This report provides all the strategic information required to understand the industrial cyber security market along with its components, security layer, and end-use industry.

Global Industrial Cyber Security Market: Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and industry white papers are usually referred for developing preliminary market understanding. Further, for this report we have specifically focused on data from cyber security breaches survey and industry bodies.

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the industrial cyber security market across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.

Global Industrial Cyber Security Market: Competitive Dynamics

The research study includes profiles of major companies operating in the global industrial cyber security market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as investment & spending and developments by major players of the market are tracked. Some of the key players in the industrial cyber security market are Schneider Electric SE, Rockwell Automation, Inc., CyberArk Software Ltd., ABB Ltd., Cisco Systems, Inc., Symantec Corporation, IBM Corporation, Dell Inc., Honeywell International Inc., Siemens AG, Lockheed Martin Corporation, and Maverick Technologies among others.

The industrial cyber security market has been segmented as follows:

Global Industrial Cyber Security Market

By Component

  • Hardware Solutions
    • Routers
    • Gateways
    • Ethernet Switches
    • Other Networking Devices
  • Software Solutions
    • Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS)
    • Firewall
    • Backup And Recovery
    • Antivirus/Malware
    • Security Information and Event Management (SIEM)
    • Supervisory Control and Data Acquisition (SCADA)Encryption
    • Virtualization Security
    • Data Loss Prevention (DLP)
    • Identity and Access Management (IAM)
    • Unified Threat Management (UTM)
    • Application Whitelisting
    • Distributed Denial of Service (DDoS)
    • Others (Patch Update Management, Database Activity Monitoring (DAM))
  • Services
    • Maintenance & Integration
    • Consulting & Training
    • Assessments and Audits
    • Managed Services
    • Risk Management Services

By Security Layer

  • Network security
  • End-point security
  • Cloud security
  • Application security
  • Others (database security and web security)

By End Use Industry

  • Process Industries
    • Oil and Gas
    • Chemical
    • Food and Beverages
    • Pulp and Paper
    • Pharmaceutical
    • Energy and Power
    • Water and Wastewater Treatment
  • Discrete Industries
    • Automotive
    • Aerospace and Defense
    • Electronics and Electrical
    • Medical Devices
    • Metal and Mining
    • FMCG

By Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • The U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.