The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cyber Security For Industrial Automation Global Market Report 2024, the cyber security for industrial automation market is expected to show significant growth in the forecast period.

Recent Market Expansion

• The cyber security for industrial automation market has grown rapidly.
• Increased from $10.22 billion in 2023 to $11.42 billion in 2024.
• Compound annual growth rate (CAGR) of 11.7%.

Drivers of Historic Growth

• Growing interconnectivity of industrial systems.
• Proliferation of Internet of Things (IoT) devices.
• Implementation of Industry 4.0 technologies.
• Incidents of cyberattacks.
• Complex supply chains in industrial sectors.

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Future Market Projections

Expected Growth

• Market size projected to reach $17.9 billion by 2028.
• Forecasted CAGR of 11.9%.

Drivers of Future Growth

• Increasing awareness among industrial stakeholders.
• Expansion of industrial automation.
• Convergence of information technology (IT) and operational technology (OT).
• Modernization of legacy industrial control systems (ICS).

Major Trends

• Rise of IIoT security solutions.
• Integration of AI and machine learning technologies.
• Expansion of cloud-based security services.
• Adoption of Zero Trust Architecture principles.

Rising Cyber Attacks Drive Growth in Industrial Automation Cybersecurity Market

Impact of Cyber Attacks

• Surge in cyberattacks propels market growth.
• Cyberattacks exploit vulnerabilities in systems to gain unauthorized access or disrupt operations.
• Growing need for cybersecurity preparedness and resilience.

Example: Global Cyberattack Trends

• Check Point reported a 38% surge in global cyberattacks in 2022 compared to 2021.
• Industries like communications and Internet/managed service providers experienced significant increases in attack incidents.
• Highlights the critical need for robust cybersecurity measures in industrial sectors.

Key Players in the Market

• Microsoft Corporation
• Dell Inc.
• Siemens AG
• IBM
• Cisco Systems Inc.
• Schneider Electric SE
• Broadcom Corporation
• ABB Ltd
• Rockwell Automation Inc.
• Palo Alto Networks Inc.
• Fortinet Federal Inc.
• Check Point Software Technologies Ltd.
• Trend Micro Incorporated
• CrowdStrike Holdings Inc.
• FireEye Inc.

All-In-One Security Solutions for Industrial Automation

Innovative Product Offerings

• Companies introduce all-in-one security testing suites for industrial networks.
• Comprehensive software tools to identify and mitigate vulnerabilities across systems.
• Example: Siemens SINEC security inspector provides unified cybersecurity tools for industrial networks.

Siemens SINEC Security Inspector

• Launched in October 2023, integrates various cybersecurity tools into a single user interface.
• Enhances network security through comprehensive vulnerability assessments and maintenance checks.
• Represents a proactive approach to safeguarding industrial networks against cyber threats.

Rockwell Automation Expands Portfolio With Verve Industrial Protection Acquisition

Strategic Acquisition

• Rockwell Automation acquired Verve Industrial Protection to bolster its cybersecurity solutions.
• Enhances asset inventory and vulnerability management capabilities.
• Strengthens Rockwell Automation’s position in industrial cybersecurity solutions.

Market Segmentation

By Type

• Programmable Automation System
• Fixed Automation System
• Flexible Automation System
• Integrated Automation System

By Security Type

• Enterprise Security
• Supervisory Control And Data Acquisition (SCADA) Security
• Network Security
• Device Security
• Physical Security

By Tools Or Technologies

• Numerical Control (NC) Machine Tools
• Programmable Logic Controllers (PLCs)
• Computer Numerical Control (CNC) Systems
• Industrial Sensors

By End Use

• Automotive Manufacturing
• Electronics And Telecommunication
• Food And Beverage Processing
• Pharmaceuticals
• Other End-Users

Regional Insights

• Asia-Pacific led the cyber security for industrial automation market in 2023.
• Expected to maintain growth momentum as industrial sectors prioritize cybersecurity measures.

In summary, the cyber security for industrial automation market is expanding rapidly driven by increasing cyber threats, technological advancements, and heightened awareness among industrial stakeholders. As industries embrace digital transformation, robust cybersecurity strategies will be crucial to ensure operational resilience and protect critical infrastructure from evolving cyber risks.

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The Cyber Security For Industrial Automation Global Market Report 2024  provides an in-depth analysis on the cyber security for industrial automation market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cyber security for industrial automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Cybersecurity Mesh Global Market Report 2024
Cybersecurity Services Global Market Report 2024
Cybersecurity Global Market Report 2024

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