Critical Infrastructure Protection (CIP) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Critical Infrastructure Protection (CIP) Market
The Critical Infrastructure Protection (CIP) Market size was valued at USD 96.30 billion in 2023, and the market is now projected to grow from USD 154.59 billion in 2024 to USD 196.64 billion by 2032, exhibiting a CAGR of 6.2% during the forecast period of 2024-2032.
A boom in the outspread of the advent of coronavirus has constrained the citizens to remain at homes and basic businesses to function beneath certain strict rules. Businesses such as healthcare, pharmaceutical, and media transmission come beneath the basic criteria and hence, are permitted to function at display. The companies moving to work from domestic and schools moving to e-learning have made communication foundation as one of the basic needs for the nations. This has driven to the expanded appropriation of basic framework assurance arrangements universally augmenting the critical infrastructure protection (CIP) market growth.
Smart city projects inculcate of physical and cyber foundations which bring a parcel of benefits and progresses the in general standard of living. In any case, smart city improvement postures dangers to the basic foundations such as open security, electrical networks, smart transportation frameworks, and water supply which by implication lead to national security hazard. These delicate frameworks within the smart cities are more powerless to cyber dangers owing to their interconnectivity. To avoid the basic framework from being deterred by cyberattacks, security specialists utilize cyber and physical frameworks that give appropriate layers of security against dangers. In this way, the request for basic framework assurance offerings is expanding to ensure the smart city basic foundation from cyber-attacks.
Basic foundation is persistently at hazard from an assortment of common and man-made dangers and risks counting extraordinary climate, falling flat or maturing framework, cyberattacks, and psychological warfare dangers. Huge mechanical basic foundations for the most part depend on web network for farther checking and organization. The cyberattack or any other risk to vitality frameworks, broadcast communications, transport, fund, healthcare, and defense can have obliterating results and might hinder the worldwide economy. In this manner, different segments are actualizing basic framework security arrangements in their spaces to combat against the cyber and psychological militant assaults.
Comprehensive Analysis of Critical Infrastructure Protection (CIP) Market
The components of the critical infrastructure protection (CIP) market arena are fractioned into two as type and services. The applications of the CIP market pool are diversified namely as: resilience and system recovery, identity and access management, security event monitoring, patching and vulnerability management, incident response and others. The identity and access management captured a larger part of the market. The market for critical infrastructure protection on the base of vertical analysis is categorized as BFSI, oil and gas, healthcare, government and defense, transportation and logistics, manufacturing and chemical and others.
With a remarkable valuation of USD 32.57 billion the North American territory revolves around the globe ruling the critical infrastructure protection (CIP) market share. The expanding recurrence of cyber-attacks and the developing reliance of the electric control industry and e-commerce have moved the center of American government towards shielding the basic framework of the nations.
The key players advertising basic framework assurance such as BAE Systems (U.K.), Honeywell International Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Thales Group (France), Cisco System (U.S.), Johnson Control (Ireland), General Dynamics (U.S.), Axis Communications (Sweden), Northrop Grumman (U.S.), Hexagon AB (Sweden), Tyco International (Ireland) and others in this market are working with the producers, electric utilities, oil and gas, water and wastewater, and food preparing companies. These major players are supporting them to degree cybersecurity chance and offer reasonable arrangements to secure their framework. The government and industry pioneers are collaborating to construct, oversee, and ensure the basic foundation of the nation.
Within the month of February 2023, the company Northrop Grumman made a declaration with respect to the start of integration and testing for their recently revealed ultra-wideband sensor, the Electronically Checked Multifunction Reconfigurable Coordinates Sensor (EMRIS). Northrop Grumman's progressed multifunction sensors, counting EMRIS, enable military staff to speed up decision-making forms and cultivate collaboration.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD billion)
Segmentation Component; Application; Vertical and Geography
By Component
Type
Industrial Control Systems (ICS)
Supervisory Control and Data Acquisition (SCADA) Systems
Distributed Control Systems (DCS)
Network Security
Physical Security
Operational Technology
Information Technology
Services
Consulting Services
Maintenance and Support
Managed services
Risk Management Services
By Application
Identity and Access Management
Patching and Vulnerability Management
Security Event Monitoring
Incident Response
Resilience and System Recovery
Others (Data Protection etc.)
By Vertical
Energy and Power
BFSI
Transportation and Logistics
Healthcare
Manufacturing and Chemical
Oil and Gas
Government and Defense
Others (Real Estate, Telecom etc.)
By Geography
North America (the United States and Canada)
Europe (Germany, the U.K., France, Scandinavia, and the Rest of Europe)
Asia Pacific (China, Japan, India, South East Asia, and the Rest of Asia Pacific)
Middle East & Africa (GCC, South Africa, and the Rest of the Middle East & Africa)
Latin America (Brazil, Mexico and the Rest of Latin America)
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