TMCnet - World's Largest Communications and Technology Community



The critical infrastructure protection market was valued at USD 66.10 billion in 2018 and is projected to be worth USD 100.82 billion by 2024, registering a CAGR of 7.06% during the forecast period (2019
[September 11, 2019]

The critical infrastructure protection market was valued at USD 66.10 billion in 2018 and is projected to be worth USD 100.82 billion by 2024, registering a CAGR of 7.06% during the forecast period (2019

NEW YORK, Sept. 11, 2019 /PRNewswire/ --

Market Overview
The critical infrastructure protection market was valued at USD 66.10 billion in 2018 and is projected to be worth USD 100.82 billion by 2024, registering a CAGR of 7.06% during the forecast period (2019 - 2024). To reduce the vulnerabilities of critical infrastructure, the European Commission launched the European Programme for Critical Infrastructure Protection (EPCIP). This is a package of measures aimed at improving the protection of critical infrastructure in Europe, across all EU states and in all the relevant sectors of economic activity.

Read the full report:

- The critical infrastructure sectors comprise of assets, networks, and systems, whether physical or virtual. These sectors are essential components of a nation. Thus, their destruction or incapacitation can have a debilitating effect on the national economic security, national public health or safety, security, or any combination thereof.
- Moreover, security organizations are witnessing an increase in attacks on industrial control networks. Gathering data from systems protected by its software, Kaspersky Lab found that 41.2% of systems were attacked at least once during the six months of 2018, an increase from 36.6% in the first half of 2017.
- The increase in investment in smart cities is expected to fuel the need for critical information systems protection solutions. For instance, according to the Consumer Technology Association (CTA), spending on smart cities is expected to reach USD 34.35 billion by 2020 from USD 14.85 billion.
- Use of connected devices led to the vulnerability of cyber threats, and the governments have incorporated them as an essential part of the critical infrastructure. For instance, according to Cisco Systems Inc., 500 billion devices are anticipated to be connected to the Internet by 2030. All these factors are expected to drive the growth of the market studied over the forecast period.

Scope of the Report
Critical infrastructure (CI) provides the essential services that underpin society and serves as the backbone of any nation's economy, health, and security. The power used in homes and industries, the potable water, the transportation, the retail stores, and the communication systems are all part of the critical infrastructure.

Key Market Trends
Risk Management Services Occupies the Largest Market Share

- Risk management is a combination of solutions designed to create, adapt, and implement a cybersecurity strategy that addresses an organization's anticipated threats and risks, while remaining accountable to business objectives.
- Risk management services involve taking protective measures to conduct a risk reduction strategy. This segment includes aspects of risk detection, risk assessment, and risk reduction.
- The growing threat of cybersecurity has paved the path for the increase in regulations against infrastructure protection. For instance, the European Union has released the GDPR (General Data Protection Regulation) for data protection, which is impacting the way the companies in Europe and the rest of the world do business.
- With strict rules about data protection and consumer access to their data, GDPR has caused operational upheaval for many enterprise organizations. The strict regulations for data protection have enabled the companies in the region to increase their infrastructure security for increasing the scope for infrastructure risk management.

North America Occupies the Largest Market Share

- North America was among the first to adopt critical infrastructure protection programs and regulations, across the multiple industry verticals. It also occupies the largest market share, globally, accounting for 34% of the global market in terms of revenue, and market forecasts indicate that this trend is expected to continue.
- The application of CIP witnesses a mature market in the United States where the program to ensure safety and security of critical and IT infrastructures was introduced in 1996. Since 2005, it has adopted the smart grid technology that keeps computers connected to prevent power failure and promote self-repair.
- Further, with the establishment of the North American Electric Reliability Corporations (NERC), it has additionally enforced that systems and companies that do not comply with the NERC CIP v.5 requirements will be subjected to hefty and strict fines.
- Moreover, the Canadian Electricity Association has been assigned the duty and responsibility via a collaborative approach with the United States in building resilience to protect the electricity system from threats.

Competitive Landscape
The critical infrastructure protection market is highly competitive owing to the presence of many small and large players in the market operating their business in domestic as well as in the international market. The market appears to be moderately concentrated moving towards the fragmented stage. With the advent of infrastructure attacks, many vendors are responding to the rising threat by offering critical information security solutions. These offerings have lead to new services, technologies, and partnerships with leading critical infrastructure providers.

- November 2018 - Raytheon announced to provide full lifecycle development and sustainment support under a new contract with the Department of Homeland Security (DHS) that could be worth approximately USD 1 billion.
- September 2018 - BAE Systems introduced Epiphany, an innovative new information security and risk management framework (RMF) capability. Epiphany is both a process and secure information management solution capable of searching an organization's historical data and automatically completing many standard compliance documents while safeguarding the processing, storing, and transmission of critical national security and weapon system information.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

Contact Clare:
US: (339)-368-6001
Intl: +1 339-368-6001

Cision View original content:

SOURCE Reportlinker

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy