Industrial Cybersecurity Market 8.6% CAGR Led by North America to 2023 Says a New Research Report at ReportsnReports
PUNE, India, August 28, 2017 /PRNewswire/ --
Industrial cybersecurity market is forecast to reach $22.79 billion by 2023 from $12.72 billion in 2016 at a CAGR of 8.6% during (2017-2023) driven by the increasing government funding to improve the cybersecurity of the industrial environment and the growing incidents of data security breaches due to the rising number of connected devices in industrial control systems.
Browse 65 Market Data Tables and 53 Figures spread through 214 Pages and in-depth TOC on "Industrial Cybersecurity Market - Global Forecast to 2023" http://www.reportsnreports.com/reports/1166533-industrial-cybersecurity-market-by-type-network-application-endpoint-wireless-cloud-others-product-gateways-and-networking-devices-solution-and-service-end-user-industry-and-region-global-forecast-to-2023.html.
The companies profiled in industrial cyber security market report include International Business Machines (IBM) Corporation (US), Honeywell International Inc. (US), ABB Ltd (Switzerland), Cisco Systems, Inc. (US), Schneider Electric (France), Rockwell Automation, Inc. (US), Dell Inc. (US), McAfee, LLC (US), Symantec Corporation (US), and Kaspersky Lab (Russia). The report also includes profiles of new entrants such as Indegy (Israel), Security Matters (Netherlands), CyberX (US), Bayshore Networks, Inc. (US), and Sentryo (France).
The industrial cyber security market for transportation systems industry will grow at a high rate between 2017 and 2023. The growing penetration of advanced technologies is resulting in the shift of transportation systems from stand-alone type to newer inter-connected systems. The increasing dependence of transportation modes on new technologies is leading to the exposure of transportation control systems to cyber-attacks; this is boosting the demand for cyber security solutions.
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The industrial cyber security market in APAC grows at a high rate during the forecast period. North America held the largest share of the industrial cyber security market in 2016. The industrial cyber security market, on the basis of region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World. The region is an early adopter of innovative technologies and is home to a large number of industrial cyber security solution providers. The market in APAC is expected to grow at the highest rate between 2017 and 2023 owing to the improving IT infrastructure, rising adoption of cloud-based services, and growing trend of industrial automation in the region.
The solutions vertical held a major share of the industrial cyber security market in 2016. The growth of industrial cyber security market for solution can be attributed to the increasing demand for firewall solutions. The need for firewall solutions to protect critical infrastructure is expected to proliferate owing to the increased sophistication of cyber-attacks and security concerns.
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In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (43%), Tier 2 (21%) and Tier 3 (36%) companies were contacted for primary interviews. The interviews were conducted with various key people such as CEOs (35%), Vice Presidents (41%), Co-Founders (18%), and Others (6%) from various key organizations operating in the industrial cyber security market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (14%), Asia Pacific (32%), and RoW (9%).
The report describes the industrial cyber security market and related developments in terms of type, product, solution and service, and end-user industry across different regions. It aims at estimating the size and future growth potential of the market for different segments, including type, product, solution and service, end-user industry, and geography. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Another research titled Cybersecurity Market Global Forecast to 2022 says, the global cybersecurity market to grow from $137.85 billion in 2017 to $231.94 billion by 2022, at a CAGR of 11.0% driven by the increase in adoption of cybersecurity solutions, due to the increase in security breaches targeting enterprises. Strict directives for data privacy driving the growth of the cybersecurity market. Network security is estimated to have the largest market size in 2017. BFSI vertical is expected to have the highest growth rate during the forecast period. APAC is expected to have the highest growth rate during the forecast period. Companies such as IBM Corporation (US), Hewlett Packard Enterprise (US), McAfee LLC (US), Trend Micro, Inc. (Japan), Symantec Corporation (US), Check Point Software Technologies Ltd. (Israel), Cisco Systems, Inc. (US), Palo Alto Networks, Inc. (US), Juniper Networks, Inc. (US), Fortinet, Inc. (US), FireEye, Inc. (US), Sophos Ltd. (UK), Rapid7, Inc. (US), EMC RSA (US), LogRhythm, Inc. (US), Optiv Security Inc. (US), Webroot, Inc. (US), CyberArk Software Ltd. (US), Qualys, Inc. (US), F-Secure (Finland), Trustwave Holdings, Inc. (US), Proofpoint, Inc. (US), Splunk, Inc. (US), Kaspersky Lab (Russia), Imperva, Inc. (US) have been profiled in this 177 pages research report available at http://www.reportsnreports.com/reports/279932-cyber-security-market-iam-encryption-dlp-risk-and-compliance-management-ids-ips-utm-firewall-antivirus-antimalware-svm-siem-disaster-recovery-ddos-mitigation-web-filtering-security-services-global-advancements-forecasts-analysis-2014-2019-.html.