(IT-NEWSWIRE.COM, September 11, 2019 ) According to a new market research report "Critical Infrastructure Protection Market by Security Technology (Network Security, Physical Security, Radars, CBRNE, Vehicle Identification, Secure Communication, SCADA, Building Management), Service, Vertical, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Critical Infrastructure Protection Market estimated to grow from USD 110.41 Billion in 2017 to USD 153.16 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.8%.
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The Critical Infrastructure Protection Market includes various security technologies, which are essential for safeguarding critical assets, enterprises, and territories from physical attacks and cyber-attacks. Increased instances of physical attacks, such as terrorist activities, thefts, intrusion drones, and cyber-attacks which include malware, ransomware, virus, and Advanced Persistent Threats (APTs) have driven the need for large scale adoption of CIP security devices and services. Moreover, stringent government regulations and adoption of best practices for CIP are expected to drive the market growth during the forecast period.
The network security segment is expected to play a key role in the Critical Infrastructure Protection Market
The network security segment is projected to grow at the highest CAGR during the forecast period. The various network security solutions include identity and access management, risk and compliance management, encryption, firewall, antivirus/antimalware, intrusion detection systems/intrusion prevention systems, and DDoS mitigation. Network security solutions safeguard the critical systems network from malware, ransomware, viruses, worms, APTs, and zero day attacks.
The physical security segment is expected to have the largest market share and dominate the Critical Infrastructure Protection Market from 2017 to 2022, due to growing instances of physical attacks and natural disasters on industrial plants, oil fields, and ports.
The transportation systems vertical is expected to grow at the highest CAGR in the Critical Infrastructure Protection Market
The sensitive infrastructures and enterprises industry vertical is expected to contribute the largest market share from 2017 to 2022 in the Critical Infrastructure Protection Market, as video surveillance, video analytics, smart cards, biometrics systems, and intrusion detection systems are widely used at public places for physical security. However, the transportation systems segment is expected to grow at the highest CAGR from 2017 to 2022, in the Critical Infrastructure Protection Market due to increased instances of terror attacks, pirate activities on international waters and ports, and cyber threats due to malware, viruses, and persistent adaptive threats.
North America is expected to contribute the largest market share, whereas MEA is expected to grow at the highest rate
North America is expected to have the largest market share and dominate the Critical Infrastructure Protection Market from 2017 to 2022. The North American region is always under threat from criminals and cyber-attackers, which can disrupt the functioning of the critical infrastructural assets. Surveillance measures in public places and industrial sites have been tightened. Various airports, marine ports, and border control areas have adopted biometrics for access control. The Middle East and Africa (MEA) region is expected to grow at the highest CAGR as major oil field projects are set up in MEA, which require protection from physical attacks, cyber-attacks, and natural disasters.
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The major vendors in the critical infrastructure protection market include BAE Systems (UK), General Dynamics Corporation (US), Honeywell International Inc. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Airbus Group SE (Netherlands), Hexagon AB (Sweden), Johnson Controls International plc (Republic of Ireland), Thales Group (France), Teltronic S.A. (Spain), OptaSense (UK), Motorola Solutions, Inc. (US), and Huawei Technologies Co., Ltd. (China).
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