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Global Industrial Cybersecurity Market By Security Type (Network Security, Cloud Security, Others), By Offering Type (Products, Services & Solutions), By Application (Utilities, Power, Others), By Region, Forecast & Opportunities to 2026

The global industrial cybersecurity market accounted for a value of USD 14.3 billion in 2019. Industrial cybersecurity market projected to register growth at a CAGR of 4.9% during forecast period.

COVID-19 has impacted the industrial cybersecurity market. The demand for industrial cybersecurity is rising as these services and solutions are important for organizations to secure their confidential information and data by controlling and monitoring number of process outputs and inputs at the site. The outbreak of corona virus has forced organizations to adopt operating models faster in order to ensure sustenance. The work from home has become new normal across the world and this leads to wide increase in use of cloud services and connectivity devices as it ensures smooth operations. This leads to huge requirement of cybersecurity to protect company’s data and to serve their clients during work from mode. The ongoing pandemic boosts the growth of industrial cyber security market during forecast period.

Definition:

Cybersecurity is referred to as computer security or information technology security. It can be defined as protection of computer systems and networks from damage or theft to the software, hardware or data of the computer or network. It keeps the data protected from unknown intervention. The reliance on internet and computer systems is increasing and it is necessary to keep computer’s data protected which makes cyber security significant.

Market Dynamics (Drivers/Opportunities):

Countries critical resources rely on digital technologies and cyber threats can damage or disrupts plant operations and IT systems by hacking important information using phishing, spyware and malware. Cyber attacks on manufacturing and utilities plants caused huge looses. In order to protect cyber attacks, the adoption of industrial cybersecurity is increasing in the market and this drives growth in industrial cybersecurity market during forecast period.

Governments across various countries are largely supporting and providing funds to tackle security breaches in order to improve industrial cybersecurity. Industrial authorities are also focusing on cyber attacks and increasing their spending on developing security solutions to secure their data and information. This increases the adoption of cybersecurity and drives growth in industrial cybersecurity market during forecast period.

Market Insights, by Security Type

On the basis of security type, the industrial cyber security market is segmented into products and solutions & services. The products segment is estimated to register growth at highest CAGR during forecast period. The adoption of industry 4.0 and IoT enabled devices is increasing across the end-users and the increases the cyber threats. The cyber threats can be prevented using cybersecurity products. This increases the demand and adoption for secure hardware and drives growth in products segment in industrial cybersecurity market during forecast period.

Market Insights, by Application

On the basis of application, the industrial cyber security market is segmented into transportation, utilities, power and chemicals & manufacturing. The transportation segment is estimated to grow at highest CAGR during forecast period. The dependencies on web-based applications and technologies are increasing and this lead to increase in risk of cyber threats. The metro, road and rail networks are physically integrated with each other and integrated with other models of transport. The industrial control systems and pipelines are used in almost all transport systems such as aviation, marine and highways. Cyberattcks on transportation systems leads to delay in operation, passenger injury and theft of data. This increases the adoption of cybersecurity in the transportation application and this drives growth in transportation application segment during forecast period.

Regional Insights

Asia-pacific region is estimated to grow at highest CAGR during forecast period. The efforts to secure networks, cloud infrastructure and endpoints are increasing in this region. The adoption of smartphones is rapidly increasing along with the rise in usage of internet in this region. The adoption of digital and cloud services are increasing which increases the data thefts and cyber risks. The government is also spending in this segment in order to secure data and information. This increases demand and adoption of industrial cybersecurity and drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in industrial cybersecurity sector are Honeywell International Inc., ABB Ltd., Cisco Systems Inc., Schneider Electric, Mcafee LLC, Siemens, Dell Inc., Symantec Corporation, Rockwell Automation, kaspersky Lab, Fortinet, Palo Alto Networks, Proofpoint, Fireeye, Trend Micro, Splunk, Broadcom Inc. and Microsoft.

Segments Covered in the Report

This report forecasts The Global Industrial Cybersecurity Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global industrial cybersecurity market report on the basis of security type, offering type, and end-users.

Industrial Cybersecurity Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Industrial Cybersecurity Market, By Offering Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Products
  • Solutions & Services
  1. Industrial Cybersecurity Market, By Security Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction Security
  • Cloud Security
  • Networking Security
  • Endpoint Security
  • Application Security
  • Wireless Security
  1. Industrial Cybersecurity Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Transportation
  • Utilities
  • Power
  • Chemicals & manufacturing
  1. Industrial Cybersecurity Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Offering Type
    • By Security Type
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Offering Type
      • By Security Type
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Offering Type
        • By Security Type
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Offering Type
          • By Security Type
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Offering Type
            • By Security Type
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Microsoft
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Honeywell International Inc.
    • ABB Ltd.
    • Cisco Systems Inc.
    • Schneider Electric
    • Mcafee LLC
    • Siemens
    • Dell Inc.
    • Symantec Corporation
    • Rockwell Automation
    • kaspersky Lab
    • Fortinet
    • Palo Alto Networks
    • Proofpoint
    • Fireeye
    • Trend Micro
    • Splunk
    • Broadcom Inc.
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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