Industrial Cybersecurity Global Market Report 2024

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Global Industrial Cybersecurity Market Report 2024

Industrial Cybersecurity Global Market Report 2024 – By Type( Network Security, Endpoint Security, Application Security, Cloud Security), By Component( Products, Software, Services), By Solutions( Antivirus, Firewall, DDOS, Scada, Other Solutions), By End-Use( Energy And Utilities, Transportation Systems, Chemicals And Manufacturing, Other End Users) – Market Size, Trends, And Global Forecast 2024-2033

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Industrial Cybersecurity Market Definition And Segments

Industrial cybersecurity refers to an industrial control systems portfolio of technologies and services designed for analysis that helps industries strengthen the cybersecurity of their computer-controlled systems to minimize the risks to a sustainable residual level.

The main types of industrial cybersecurity are network security, endpoint security, application security, and cloud security. Network security is a combination of technologies that safeguards the usefulness and integrity of a company's infrastructure by preventing a wide range of potential threats from entering or spreading within a network. The components include products, software, services, and solutions such as antivirus, firewalls, DDoS, Scada, and other solutions used by end-uses such as energy and utilities, transportation systems, chemicals and manufacturing, and other end-users.

The industrial cybersecurity market covered in this report is segmented –

1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security

2) By Component: Products, Software, Services

3) By Solutions: Antivirus, Firewall, DDOs, Scada, Other Solutions

4) By End-Use: Energy And Utilities, Transportation Systems, Chemicals And Manufacturing, Other End Users

The industrial cybersecurity market size has grown strongly in recent years. It will grow from $22.76 billion in 2023 to $24.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased cyber threats, critical infrastructure protection, regulatory compliance requirements, increased connectivity of industrial systems, high-profile cyber incidents, awareness of insider threats, demand for remote monitoring and control.

The industrial cybersecurity market size is expected to see strong growth in the next few years. It will grow to $33.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to integration of physical and cybersecurity, increasing use of autonomous systems, cyber insurance adoption, continued regulatory evolution, emergence of industry 4.0. Major trends in the forecast period include integration of IT and OT security, focus on zero trust architecture, growing adoption of artificial intelligence (AI) and machine learning (ML), cloud-based security solutions, supply chain security, cybersecurity training and awareness, continuous monitoring and threat intelligence.

Surging Demand For Industrial Cybersecurity Solutions Propels Market Growth And Job Opportunities

The increase in demand for industrial cybersecurity solutions and services is expected to propel the industrial cybersecurity market. Industrial Cybersecurity solutions and services are a set of technologies and services aimed at securing every industrial layer while maintaining operational consistency and continuity of industrial processes. The demand for industrial cybersecurity solutions across industries is increasing, as is the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems, which would drive the growth of the industrial cybersecurity market. For instance, in 2022, according to the Bureau of Labor Statistics report, a US-based government agency, demand for information security analysts would rise by 28%, with an increase of 2.8k jobs. Industrial cybersecurity is expected to create 3.5 million jobs globally by 2025. Therefore, the rising demand for industrial cybersecurity solutions and services is driving the growth of the industrial cybersecurity market.

Surge In Cybercrime Cases Propels Growth Of The Industrial Cybersecurity Market

The increase in the number of cybercrime cases is anticipated to drive the growth of the industrial cybersecurity market going forward. Cybercrime refers to criminal activities that are carried out using computers, computer networks, and the internet and have serious consequences, including financial losses, damage to reputations, and legal penalties for criminals. Industrial cybersecurity is used for protecting critical infrastructure and manufacturing operations from a wide range of cybercrimes which involves implementing robust security measures, threat detection systems, and incident response strategies to mitigate the risks posed by cyber threats. In February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, in 2022, cybercrime reports received were 76,000, up from 13% from the previous year. Therefore, the increase in the number of cybercrime cases is driving the growth of the industrial cybersecurity market.

Major companies operating in the industrial cybersecurity market report are International Business Machines Corporation, Honeywell International Inc., Asea Brown Boveri Ltd., Schneider Electric SE, Rockwell Automation Inc., CrowdStrike Holdings Inc., Cybereason Inc., SparkCognition Inc., Tessian Ltd., Palo Alto Networks Inc., Check Point Software Technologies Ltd., Darktrace Ltd., Fortinet Inc., Anomali Inc., Vectra AI Inc., FireEye Inc., McAfee Corp., Microsoft Corporation, OneTrust LLC, SkyHigh Security, SonicWall Inc., Splunk Inc., Tanium Inc., Vanta Inc., Broadcom Inc., Mandiant Solutions Inc., Exaud LLC, Kanda Software Inc., Simform LLC, Azumo LLC

Artificial Intelligence (AI) Driven Industrial Cybersecurity For Detection And Recovery

Major companies operating in the industrial cybersecurity market are innovating products with artificial intelligence to gain a competitive edge in the market. Artificial Intelligence (AI)-driven industrial cybersecurity involves the use of advanced AI algorithms and technologies to autonomously detect, analyze, and respond to cyber threats in industrial environments, enhancing the overall security posture of critical infrastructure and manufacturing systems. For instance, in November 2023, Rubrik, a US-based software company, launched Ruby. Ruby is a generative artificial intelligence (AI) companion intended to expedite cyber detection, cyber recovery, and cyber resilience in enterprises. Ruby is designed with Azure OpenAI in combination with a machine learning-driven data threat engine. Ruby helps to discover, investigate, remediate, and report on cyber incidents. It simplifies and automates cyber-detection and recovery.

Strategic Partnerships To Strengthen Position

Major companies operating in the industrial cybersecurity market are entering into strategic partnerships to strengthen their position. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, ABSG Consulting Inc., a US-based company providing professional consulting services, partnered with Dragos Inc. (Dragos), a US-based cybersecurity company that specializes in industrial control systems (ICS) and operational technology (OT) security. Through this partnership, ABS Consulting's OT risk management experience and Dragos' top-notch OT cybersecurity technology will be combined to meet the expanding cyber demands of the critical infrastructure industries. The partnership will provide a strong range of integrated solutions to satisfy the market's need for an all-encompassing, well-resourced strategy for cyber protection.

Secureauth Acquires Acceptto Corporation

In November 2021, SecureAuth, a US-based identity and access management company acquired Acceptto Corporation for an undisclosed amount. With this acquisition SecureAuth, aims to offer strengthened device security, improve digital consumer engagement and provide user-friendly passwordless login. Acceptto Corporation is a US-based cybersecurity company that provide cybersecurity solutions to industries.

North America was the largest region in the industrial cybersecurity market in 2023. The regions covered in the industrial cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the industrial cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial cybersecurity services market includes revenues earned by entities through wireless security, mobile security, and IoT security. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial cybersecurity services market also includes sales of gateways, routers and Ethernet switches. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The industrial cybersecurity market research report is one of a series of new reports from The Business Research Company that provides industrial cybersecurity market statistics, including industrial cybersecurity industry global market size, regional shares, competitors with an industrial cybersecurity market share, detailed industrial cybersecurity market segments, market trends and opportunities, and any further data you may need to thrive in the industrial cybersecurity industry. This industrial cybersecurity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Industrial Cybersecurity Market Report Scope

Report Attribute	Details
Market Size Value In 2024	$24.6 billion
Revenue Forecast In 2033	$33.11 billion
Growth Rate	CAGR of 7.7% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security 2) By Component: Products, Software, Services 3) By Solutions: Antivirus, Firewall, DDOs, Scada, Other Solutions 4) By End-Use: Energy And Utilities, Transportation Systems, Chemicals And Manufacturing, Other End Users
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled	International Business Machines Corporation; Honeywell International Inc.; Asea Brown Boveri Ltd.; Schneider Electric SE; Rockwell Automation Inc.; CrowdStrike Holdings Inc.; Cybereason Inc.; SparkCognition Inc.; Tessian Ltd.; Palo Alto Networks Inc.; Check Point Software Technologies Ltd.; Darktrace Ltd.; Fortinet Inc.; Anomali Inc.; Vectra AI Inc.; FireEye Inc.; McAfee Corp.; Microsoft Corporation; OneTrust LLC; SkyHigh Security; SonicWall Inc.; Splunk Inc.; Tanium Inc.; Vanta Inc.; Broadcom Inc.; Mandiant Solutions Inc.; Exaud LLC; Kanda Software Inc.; Simform LLC; Azumo LLC
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

Table Of Contents

1. Executive Summary

2. Industrial Cybersecurity Market Characteristics

3. Industrial Cybersecurity Market Trends And Strategies

4. Industrial Cybersecurity Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market

4.2. Ukraine-Russia War Impact On the Market

4.3. COVID-19 Impact On the Market

5. Global Industrial Cybersecurity Market Size and Growth

5.1. Global Industrial Cybersecurity Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Industrial Cybersecurity Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Industrial Cybersecurity Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Industrial Cybersecurity Market Segmentation

6.1. Global Industrial Cybersecurity Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Network Security

Endpoint Security

Application Security

Cloud Security

6.2. Global Industrial Cybersecurity Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Products

Software

Services

6.3. Global Industrial Cybersecurity Market, Segmentation By Solutions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Antivirus

Firewall

Ddos

Scada

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Cybersecurity Services Global Market Report 2024 – By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types), By User Type (Large Enterprises, Small & Medium Enterprises), By Industry Verticals (Aerospace and Defense, BFSI, Public sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, Other Industry Verticals) – Market Size, Trends, And Global Forecast 2024-2033

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Frequently Asked Questions

What is the definition of the industrial films market?

The industrial film is a stretch film coating material consisting of plastic that acts as a coating substrate for extrusion coating and lamination. It is used to specify the oxygen and nitrogen levels around the goods. These are the selected packaging films and materials with particular gas permeabilities that are utilized. For further insights on the industrial films market, request a sample here

How will the industrial films market drivers and restraints affect the industrial films market dynamics? What forces will shape the industrial films industry going forward?

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What is the forecast market size or the forecast market value of the industrial films market ?

The industrial films market size has grown strongly in recent years. It will grow from $42.58 billion in 2023 to $45.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to cost-effectiveness, shift from rigid to flexible packaging, increased demand for barrier films, textile industry use, medical and healthcare. The industrial films market size is expected to see strong growth in the next few years. It will grow to $57.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to continued industrialization, sustainable packaging, construction sector growth, agricultural applications expansion, rapid advancements in electronics. Major trends in the forecast period include functional coatings, optical films, heat-shrink films, uv-resistant films, multilayered films. For further insights on the industrial films market, request a sample here

How is the industrial films market segmented?

The industrial films market is segmentedThe industrial films market covered in this report is segmented –
1) By Type: Linear Low Density Polyethylene (LLDPE) , Low-Density Polyethylene (LDPE) , High-Density Polyethylene (HDPE) , Polyethylene Terephthalate (PET) , Polypropylene (PP) , Polyvinyl Chloride (PVC) , Polyamide, Other Types
2) By Application: Coated Non-Woven Products, Dry Film Adhesives, Electronic and Battery, Barrier and Breathable, Puncture Resistant Coatings and Films
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Which region has the largest share of the industrial films market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the industrial films market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the industrial films market, request a sample here.

Who are the major players in the industrial films market?

Major companies operating in the industrial films market report are Mitsui Chemicals Inc., Toyobo Co. Ltd., Eastman Chemical Company, Compagnie de Saint-Gobain SA, DuPont de Nemours Inc., Berry Global Inc., SKC Co. Ltd., Toray Industries Inc., Mitsubishi Chemical Holdings Corporation, Solvay SA, FUJIFILM Holdings Corporation, Sigma Plastics Group, Muraplast d.o.o., Unitika Ltd., Jindal Films Europe Virton Sprl, Transcendia Inc., Mondi plc, Hi-Fi Industrial Film Ltd., Bogucki Folie Sp zoo, Inteplast Group Corporation, 3M Company, Avery Dennison Corporation, Bemis Company Inc., Covestro AG, Filmquest Group Inc., Uflex Ltd., Hyplast NV, Kuraray Co. Ltd., Novamont SpA, Plastipak Holdings Inc., Polifilm Group, Raven Industries Inc., Renolit Group, RKW Group, Saudi Basic Industries Corporation, Saint-Gobain SA, Sealed Air Corporation, SRF Limited, Technipaq Inc., Tredegar Corporation For further insights on the industrial films market, request a sample here.

What are the key trends in the industrial films market?

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How does the industrial films market relate to the overall economy and other similar markets?

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What are the latest mergers and acquisitions in the industrial films industry?

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What are the key dynamics influencing the industrial films market growth? SWOT analysis of the industrial films market.

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