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Industrial cybersecurity

THE INDUSTRIAL CYBERSECURITY MARKET size was valued at USD 16.3 billion in 2022 and is expected to reach USD 24.4 billion by 2028; it is expected to grow at a CAGR of 7.7% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of industrial cybersecurity market are increasing focus on integrating into industrial control systems. Wireless Security is projected to have largest market size during forecast period.

The industrial cybersecurity market for wireless security is expected to have the largest market size during the forecast period. Wireless intrusion prevention systems (WIPS) or wireless intrusion detection systems (WIDS) are commonly used to comply with wireless security policies.

Factors such as increased use of radio frequency identification (RFID) technology and other wireless communication technologies, easy availability and low-cost accessibility of wireless 4G mobile devices, rise in small office home office (SOHO) trend, and intensified need for SaaS-based wireless security solutions stimulate the growth of the market for wireless security.

Software solutions and services will have the highest growth in coming years.

Professional services and managed services are covered under the industrial cybersecurity market for services. In professional services, risk management is the most prominent service.

In industrial organizations, industrial control systems are designed not only to monitor and control industrial processes but also to manage network and system devices. These systems are now more exposed to cyber threats due to the increased connectivity with third-party service providers, a growing number of network-enabled devices, and enhanced sophistication of security attacks. As a result, the demand for risk management services is growing.

Transportation Systems is expected to have highest CAGR during the forecast period.

The industrial cybersecurity industry for the transportation system industry is expected to grow at the highest CAGR during the forecast period.

To improve performance, the transportation sector has started using advanced technologies, and the systems are being shifted from standalone to newer interconnected systems.

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Industrial Ethernet Book

The next issue of Industrial Ethernet Book will be published in November/December 2023. Deadline for editorial: November 13, 2023

Editor: Al Presher, editor@iebmedia.com

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