Industrial Cyber Security Solutions and Services Market Share

North American Market Forecast

The North American industrial cyber security solutions and services market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The market in North America region is estimated to garner the largest share over the forecast period on the back of the increasing adoption of novel technologies by the government as well as privately owned industries. The government IT expenditure in the U.S. crossed USD 86 billion in 2019, which was projected to cross USD 92 billion by the end of 2021. The increasing population using the internet across the world with the growing utilization of smartphones, computers, and laptops is estimated to drive the market growth in the region. Also, the rising adoption of IoT in organizations to manage and regulate industrial control systems security and the increasing application of cloud security solutions to enhance security is anticipated to hike the market growth in the coming years.

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness modest growth over the forecast period, owing to the increasing investment in technological development in the countries, such as India, Japan, and China. Moreover, the emergence of new industries and up-surge in the cybercrimes are estimated to boost the market growth. According to the estimations, a loss of more than USD 1 trillion was reported in the Asia Pacific region owing to cybercrime every year.