Industrial Cybersecurity Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What is the Predicted CAGR for the Industrial Cybersecurity Market Over the Forecast Period of 2025 to 2034?
The market size of industrial cybersecurity has been demonstrating a robust expansion in the recent years. The anticipated growth from the year 2024, which had a valuation of $24.04 billion, to $25.71 billion in 2025, equates to a compound annual growth rate (CAGR) of 6.9%. The surge during the historical phase has been propelled by factors like escalating cyber threats, the need for safeguarding critical infrastructure, adherence to regulatory compliance requirements, the increasing interconnectivity of industrial systems, high visibility cyber events, awareness pertaining to insider risks, and the rising demand for remote monitoring and control.
Predictions for the industrial cybersecurity market indicate a significant expansion in the coming years, with an estimated value of $36.24 billion by 2029, courtesy of a compound annual growth rate (CAGR) of 9.0%. Factors contributing to growth during this projected period include the fusion of physical and cybersecurity measures, rising utilization of autonomous systems, adoption of cyber insurance, ongoing regulatory advancement, and the dawn of Industry 4.0. Foreseen trends during this period are the integration of IT and OT security, the prioritization of zero trust architecture, increased acceptance of artificial intelligence (AI) and machine learning (ML), cloud-based security provision, supply chain security, cybersecurity training and consciousness programs, continuous observation, and threat intelligence.
Which Factors Are Enhancing the Growth of the industrial cybersecurity Market?
The surge in the need for industrial cybersecurity solutions and services is predicted to fuel the industrial cybersecurity market’s growth. Industrial cybersecurity comprises various technologies and services designed to secure each industrial layer while ensuring the consistency and continuity of industrial operations. The need for industrial cybersecurity solutions is on the rise across different sectors, and so is the need for advanced solutions like firewalls, antivirus, and intrusion detection systems, all likely to fuel the market’s growth. For instance, the Bureau of Labor Statistics, a US-based government agency, reported in 2022 that there would be a 28% surge in the need for information security analysts, leading to an addition of 2.8k jobs. By 2025, industrial cybersecurity is expected to generate 3.5 million jobs worldwide. Thus, the increasing need for industrial cybersecurity solutions and services is a key growth driver for the industrial cybersecurity market.
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Who Are the Top Companies Driving Innovation and Growth in the Industrial Cybersecurity Market?
Major companies operating in the industrial cybersecurity market are:
• IBM Corporation_x000D_
• Honeywell International Inc._x000D_
• Asea Brown Boveri Ltd._x000D_
• Schneider Electric SE_x000D_
• Rockwell Automation Inc._x000D_
What Key Trends Are Currently Impacting the Industrial Cybersecurity Market’s Development?
To gain a market advantage, prominent corporations in the industrial cybersecurity sector are pioneering products integrated with artificial intelligence. The incorporation of AI in industrial cybersecurity employs sophisticated AI algorithms and technologies for prompt identification, examination, and addressing of cyber threats in industrial premises; this boosts the overall security stature of critical infrastructure and manufacturing processes. For example, in November 2023, Rubrik, a software firm out of the US, unveiled Ruby. Ruby, an artificially intelligent assistant intended to speed up cyber discovery, recovery, and resilience in businesses, is engineered utilizing Azure OpenAI coupled with an engine for data threats based on machine learning. Ruby is adept in identifying, scrutinizing, remediating, and providing reports on cyber incidents and streamlines automation in cyber-detection and recovery.
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Which Key Segments of the Industrial Cybersecurity Market Are Poised for Growth and Innovation?
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
Subsegments:
1) By Network Security: Intrusion Detection Systems (IDS), Firewalls, Virtual Private Networks (VPNs)
2) By Endpoint Security: Antivirus Solutions, Endpoint Detection And Response (EDR), Mobile Device Management (MDM)
3) By Application Security: Web Application Firewalls (WAF), Application Security Testing (AST), Secure Software Development Lifecycle (SDLC) Tools
4) By Cloud Security: Cloud Access Security Brokers (CASB), Cloud Security Posture Management (CSPM), Data Loss Prevention (DLP) Solutions
Which Geographical Regions Are Pioneering Growth in the Industrial Cybersecurity Market?
North America was the largest region in the industrial cybersecurity market in 2024. The regions covered in the industrial cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Do Experts Define the Scope of the Industrial Cybersecurity Market?
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.
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