Industrial Cyber Security Solutions and Services Market Analysis

Type (Network, Application, Cloud, Wireless)

The global industrial cyber security solutions and services market is segmented and analyzed for demand and supply by type into the network, application, cloud, wireless, and others. Out of these types, the application segment is estimated to gain the largest market share over the projected time frame. Application security is a security system that protects the software of industries from cybercrimes, data breaches, and other threats. The rising risk of cyber breaches and hacking on the software is estimated to drive market growth. It was reported that globally more than 44% of cyber breaches are included in hacking and over 20% are included as errors or casual events. The application security system includes firewalls, data encryption, and antivirus systems that cease the entry of unauthorized users into the systems. The security application includes the safety of external and internal software and coding threats that involve various web attacks, DDoS attacks, fraud, and site scraping. Also, the security application policies help to protect all industrial applications, websites, and sensitive data from random security attacks.

End-user (Utilities, Transportation, Chemicals & Manufacturing)

The global industrial cyber security solutions and services market is also segmented and analyzed for demand and supply by end-user into utilities, transportation, chemicals & manufacturing, and others. Amongst these segments, the transportation segment is expected to garner a significant share. The transportation segment growth is attributed to the increasing number of people using web applications for travel tickets. Approximately more than 1 billion population worldwide used travel applications as of 2019. Also, the rising risk of exposure to personal details and other information is estimated to hike the market growth in the coming years. All the transport services such as railways, roads, cabs, and metros, are providing online services to the public to reduce waiting time and improve customer satisfaction. Online travel booking service has a passenger information system that may lead to hacking of all the personal details. All these factors increase the utilization of internet and web applications thereby increasing the risk of cyber-attacks which in turn boosts the market growth. 

Our in-depth analysis of the global market includes the following segments: