Research Nester published a report titled “Industrial Cyber Security Solutions and Services Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global industrial cyber security solutions and services market in terms of market segmentation by type, offering, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global industrial cyber security solutions and services market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of type into network, application, cloud, wireless, and others, out of which, the cloud segment is anticipated to hold the largest share over the forecast period owing to the increasing adoption of cloud-based technology amongst the end-user industries. Various advantages of cloud-based services, such as, unlimited storage, and others.
The global industrial cyber security solutions and services market is estimated to grow on the back of increasing privacy threats and data theft in industry backed by rising internet penetration globally. Industries, such as, healthcare, BFSI, education, and others, experience various security breaches. The growing demand for cyber security is projected to boost the market growth. Increasing investment by the government for digitization of industries, and need to reduce losses caused by cyber threats, are anticipated to boost the market growth.
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On the basis of geographical analysis, the global industrial cyber security solutions and services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner the largest share over the forecast period on the back of growing adoption of technology amongst industries. Moreover, the high IT expenditure and increasing number of cybercrimes in the region, is estimated to boost the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Cases of Cybercrimes in Industries to Boost the Market Growth
According to the report by the Identity Theft Resource Center, over 1,108 data breaches happened in 2020.
The increasing incidences of security threats and privacy breaches, to steal private data, especially in financial institutions, is estimated to boost the market growth. With the rapid advancements in digitalization, the need for efficient cyber security has also witnessed up-surge, which is further projected to boost the market growth.
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However, lack of awareness about the cruciality of cybersecurity is expected to operate as key restraint to the growth of the global industrial cyber security solutions and services market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global industrial cyber security solutions and services market which includes company profiling of Honeywell International Inc., Cisco Systems, Inc., ABB Ltd., Schneider Electric SE, CyberArk Software Ltd., Broadcom Inc., and International Business Machines Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial cyber security solutions and services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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