Critical Infrastructure Security| Homeland Security by 2022: Growth, Vision and Demand

Critical infrastructure protection (CIP) is preparedness against the increasing number of cyber threats, attacks, and theft for the protection of critical infrastructures in an organization. It ensures cost-effectiveness along with providing better security in case of any emergency. Advancements in technology and increased dependence on computers and networks have led to the enhanced susceptibility of modern operations as well as increasing the vulnerability of cyber-attacks. Owing to these rising cyber threats and risks, more and more organizations are now adopting these technologies in order to protect their infrastructure against malicious and suspicious objects. Due to this, the demand for critical infrastructure protection has increased, thereby driving the global market towards achieving continued growth.

Download PDF Brochure For More Info @ https://tinyurl.com/y7omr8vk

How is the CIP market progressing globally?

The size of the global critical infrastructure protection market which is estimated to be USD 110.41 Billion in 2017 to USD 153.16 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from.

Based on security technology, the physical security technology is projected to be the largest market over the forecast period, owing to the increasing threats to physical assets and the government regulations mandating the implementation of physical security technologies. However, network security is expected to witness the highest growth during the projected period, mainly because it provides phase-wise security service to critical infrastructure protection software users. Among services, maintenance and support services is the dominant segment, owing to the rising need for monitoring of infrastructures such as oil & gas pipelines, smart grids, and nuclear reactors. However, the consulting services segment is expected to grow at the highest CAGR during the forecast period. Among verticals, the sensitive infrastructure and enterprises sector is expected to be the dominant market in 2016, whereas the transportation system sector is expected to grow at the highest CAGR over the forecast period.

Geographically, North America is expected to be the biggest market during the forecast period, mainly owing to strict government regulations for critical infrastructures. However, Middle East & Africa is the fastest-growing region and is expected to offer potential growth opportunities in the near future. This growth can be majorly contributed to the growing security needs and increased number of organizations adopting critical infrastructure protection technologies & services in this region.

Drivers and restraints impacting the market growth

The growth of the global market for critical infrastructure protection is primarily driven by the strong government regulations and practices, increased number of cyber threats, and rising investments by major countries towards smart grid technology. Moreover, organizations are actively adopting these technologies to protecting their critical infrastructure from malicious objects and secure both cyber and physical systems as well. In addition, cloud computing is largely being adopted for critical infrastructure protection, which expected to further boost the growth of this market. Apart from this, growing popularity and adoption of IoT is expected to drive the market for information and physical security, thereby offering lucrative growth opportunities for this market.

On the flip side, complex security infrastructure, lack of interoperability between security products, and lack of skilled professionals and understanding of industrial control system are some of the factors that may act as deterrents for the growth of this market. Furthermore, high cost of implementation, lack of resources, and distributed facilities pose as major challenges for the leading companies involved in this market.

Key companies and sustainability strategies adopted by them

BAE Systems, General Dynamics, Honeywell International Inc., Lockheed Martin, EMC Corporation, Raytheon, Airbus, Intergraph Corporation, Waterfall Security Solutions, and McAfee, Inc., are the major players participating in the global market for critical infrastructure protection. New product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions are the key strategies that these companies adopted in order to cater to the needs of this market as well as expand their geographic presence along with increasing their product portfolio.

Know More@ https://www.marketsandmarkets.com/Market-Reports/critical-infrastructure-protection-cip-market-988.html

Share this post:

Related Posts

Comments are closed.