CRITICAL INFRASTRUCTURE PROTECTION (CIP) MARKET IS ANTICIPATED TO WITNESS HIGH GROWTH OWING TO INCREASING CYBER THREATS

Critical Infrastructure Protection (CIP) Market is Anticipated to Witness High Growth Owing to Increasing Cyber Threats

Critical Infrastructure Protection (CIP) Market is Anticipated to Witness High Growth Owing to Increasing Cyber Threats

Blog Article

The critical infrastructure protection (CIP) market includes technologies such as malware, intrusion detection system/intrusion prevention system (IDS/IPS), disaster recovery solutions, threat intelligence, and vulnerability assessment aimed at protecting critical infrastructures such as transportation, energy and power systems, water supply and sewage systems, telecommunication, and others from cyberattacks and terrorism. CIP helps organizations secure critical assets and utilities by securing industrial control systems, networks, and endpoints against cyber threats. The increasing incidents of cybercrimes targeting critical infrastructure facilities have accelerated the demand for CIP solutions globally.
The Critical Infrastructure Protection (CIP) market is estimated to be valued at USD 139.72 Bn in 2024 and is expected to reach USD 186.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

Key Takeaways
Key players operating in the critical infrastructure protection (CIP) market are BAE Systems, Symantec Corporation, General Dynamics Corporation, McAfee, Inc., Honeywell International Inc, Thales Group, IBM Corporation, Lockheed Martin Corporation, Robert Bosch, Northrop Grumman Corporation, Axis Communications, Raytheon Company, Huawei Technologies IBMCo., Ltd., Airbus Group S.E., Motorola Solutions, Inc, Hexagon AB, OptaSense, Johnson Controls International PLC, 3x Logic. The key players are focusing on new product development and deploying sophisticated technologies such as AI, big data analytics, and IoT to strengthen their market position.

The growing digital transformation of critical infrastructure along with increasing spending on smart city projects creates lucrative opportunities for CIP solution providers. Further, the demand for cloud-based Critical Infrastructure Protection (CIP) Market Growth solutions is estimated to surge in the coming years.

North America dominates the critical infrastructure protection market currently. However, Asia Pacific is expected to offer emerging opportunities for CIP solution providers owing to increasing government initiatives to modernize critical infrastructure and protect them from cyberattacks in countries such as China and India. Further, growing investments to develop smart infrastructure and cities would accelerate the adoption of CIP solutions in Asia Pacific.

Market drivers: The increasing number of cyber threats endangering critical infrastructure from terrorist groups and hacktivists is a key driver. Further, the growing digital connectedness of critical assets and adoption of cloud and Internet of Things (IoT) infrastructure has increased vulnerability, driving the need for advanced CIP systems.

Market restraints: However, the market faces restrictions due to high costs associated with deployment and maintenance of CIP solutions. Further, the complex nature of critical infrastructure systems makes it challenging for organizations to understand infrastructure vulnerabilities and deploy suitable CIP systems. Lack of cybersecurity skills and expertise related to critical infrastructure also hinders market growth.
Segment Analysis
The critical infrastructure protection market can be segmented by component, service, vertical, and geography. The component segment can be further divided into hardware and software. The hardware sub-segment currently dominates the market as critical infrastructure facilities widely utilize security cameras, access control and authentication systems, perimeter intrusion systems, and smart building management systems which require hardware for effective functioning.

Global Analysis
Regionally, North America holds the largest share of the Critical Infrastructure Protection (CIP) Market, Regional Analysis owing to stringent government policies regarding critical infrastructure safety and significant investments made by industries across sectors towards protecting vital assets. Additionally, the growing frequency and sophistication of cyber-attacks in the US necessitates effective security systems. Europe follows North America due to heavy focus on digital security measures by governments and private entities. Asia Pacific is anticipated to grow at the highest rate during the forecast period due to rapid industrialization and urbanization leading to development of new critical facilities which need protection against potential threats. Key players are also eyeing emerging economies like India and China for lucrative business opportunities.

Get More Insights On- Critical Infrastructure Protection (CIP) Market

Discover the language that resonates with you:

 


 

 

About Author:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

 

Report this page