21 November 2019
This report evaluates the current levels of global expenditure invested in the Critical Infrastructure Protection (CIP) market. In the next decade, the CIP market will register strong growth.Visiongain forecasts that between 2020 and 2030, established CIP market will see growth due to increasing safety concerns across nations.
Global market for Critical Infrastructure Protection is estimated to be valued at $18.07 billion in 2020 and is projected to be at $55.0 billion by 2030, growing at the rate of CAGR 11.7% through 2020-2030. The Critical Infrastructure Protection (CIP) Market Forecast 2020-2030: Cyber security, Perimeter Security, and Security Personnel evaluates the current amount of expenditure that is being invested in different types defensive programmes and technological solutions to help secure essential national assets, assesses how the market will develop in the future in key areas across the globe, and considers the impact that technological advancements will have on consumer purchase rates and national security initiatives. The CIP market is lucrative for technology vendors. This market is estimated to witness a substantial growth, as the OP technology is at the peak of its growth phase in the North American and European regions, while a high adoption rate is also expected to be exhibited by the APAC and MEA regions during the forecast period. Factors such as technological advancements, stringent government regulations and compliances, and increasing instances of internal and external security breaches and attacks are contributing to the high growth rate in these regions. These factors are expected to shape up the future of the global CIP market.
Drivers in the Global Critical Infrastructure Protection Market 2019
Rise in security breaches and cyber-attacks targeting enterprises across various industry verticals.
In today's business environment, there is increase in the usage of digital solutions, connected devices, and IT systems due to rapid advancements in technologies. The foundation of this digital infrastructure is based on the communication between various business critical applications and data across platforms, devices, and users. With data explosion and frequently increasing cyber threats, chances of data breaches at every level have amplified significantly. Government agencies and energy infrastructure industries are more susceptible to such outbreaks, as such organizations handle a country's critical infrastructure, putting confidential business data and personnel information at risk.
Stringent government regulations and increasing adoption of best practices for CIP
The CIP systems and service providers, along with government agencies, play a vital role in safeguarding the cyberspace without diminishing the benefits that it provides to critical infrastructures. The private sector holds a major proportion of a country's critical infrastructure and its protection is their primary concern. Agencies from the government provide intelligence, identify threats, and conduct assessments on infrastructures and communities to help businesses and local governments to take decisions and enhance security before the occurrence of an event Terrorist activities across the globe, recent rise in cyber-attacks on Industrial Control Systems (ICS) and other industrial infrastructure, Distributed Denial of Service (DDoS) attacks on the severs of Dyn (the company that controls the internet's Domain Name System (DNS) infrastructure) in 2016 that brought down major websites including Twitter, the Guardian, Netflix, Redcfrt, and CNN in the US and European region, and other such incidents have highlighted the necessity to defend a country's orifice' infrastructure. Approximately 90% Y-o-Y increase in targeted attacks has given rise to a large number of government regulations, which are to be strictly adhered to by all the organizations. The government regulations make it mandatory for organizations to adhere to government security standards, failing which they could be penalized.
Challenges in Global Critical Infrastructure Protection Market
High Cost of Implementation
Cyber-attacks are on the rise due to the insufficient cyber security framework and lack of cyber governance. Despite the alarming frequency of data breaches and cybercrimes, there is still not enough money—or attention—being paid to information security and, specifically, cyber security in the workplace. Due to the complex networks and the need to develop sophisticated tools to counter the cyber-attacks, the vendors need to constantly upgrade their solutions and develop new technologies. The implementation of physical security technologies demand heavy centralized processing units, analytic, and tools for processing the data, thereby increasing the costs incurred to provide complete perimeter protection to these critical infrastructures.
Distributed facilities pose a challenge in the implementation of comprehensive security solutions
The power generation, transmission, and distribution and other key infrastructure are spread over various locations and are connected to each other by network through various modes of communications. The smart grids and utilities such as water utilities, and oil and gas pipelines are spread across a large area and are monitored from the base station. These stations connected by networks pose a challenge for the security companies to implement a comprehensive security solution encompassing all the information and physical security solutions onto a single platform. Hence, to address this challenge, there is a need for a single hub that controls all the multi-site security issues by detecting, assessing, and responding quickly to the security issues with uniformity.
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