Kenneth Research released a report on Industrial Cybersecurity Market that consists detailed analysis and industry insights for the forecast period, i.e. 2020-2026. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report. Backed by the growing advancements in the ICT industry, especially in the field of internet of technology (IoT) and artificial intelligence (AI), along with the advancements that support the basic backbone of the overall ICT industry, the Industrial Cybersecurity Market is projected to grow with a modest CAGR during the forecast period, i.e. 2020-2026.
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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.
Over the past years, digital technologies have become the backbone of our economy and are a critical resource all economic sectors rely on. Many business models are built on the uninterrupted availability of the internet and the smooth functioning of information systems. Cybersecurity incidents, be they intentional or accidental, could disrupt the supply of essential services. The growing instances of cyber-attacks have led to government intervention at the industrial level. The governments are creating a fund to prevent such instances to assure that the industrial cyberspace in their country remains protected. Thus, this initiative by the government will drive the market for machine safety.
The driving factors influencing the global industrial cybersecurity solutions market includes increasing phishing threats and malware, growing adoption of Internet of Things (IoT) and Bring Your Own Device (BYOD) in the organizations, increasing demand of cloud based cyber security solutions, constant need of industry standards, complexities, and regulations for device security. With the increasing popularity of cyber security, the activities are being highly aligned and prioritized to strategic business activities to reduce the loss of IT resources.
The Cyber Security market growth is higher in North America in the terms of advancements in technology, manufacturing process operations and industrial infrastructure. Among all the regions North America is the hub for a large number of industries and due to early adoption of innovative technology. Also, Asia – pacific is following the lead because of increasing opportunities in emerging countries of Middle East, their adoption towards cloud services and inclination to industrial automation.
This leads to generate a huge scope of opportunities in the global industrial cyber security solutions market. Today, cloud computing is a new big thing to be called and specifically used for outsourcing storage and services. A key cyber-attack involving utility or energy service provider would efficiently cause major outage of power and physical damage in the near future. Thus, due to the increasing concern of cyber threat, cyber-attacks occurring in the organization and businesses it has majorly driven the demand for industrial cybersecurity solutions industry.
By Organization Size
*Data Loss Prevention (DLP)
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
Industrial Cybersecuritymarket competition by top manufacturers/ Key player Profiled: IBM,Honeywell,ABB,Cisco,Schneider Electric, McAfee, Siemens, Dell, Symantec, Rockwell, Kaspersky Lab, Startup Ecosystem
The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
Reasons to Purchase this Report
* Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
* Provision of market value (USD Billion) data for each segment and sub-segment
* Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
* Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
* Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
* Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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