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Cyber Security for Industrial Automation Market to Reach $20.5 Billion Globally by 2032 at 8.7% CAGR: Allied Market ResearchThe rising popularity of cyber security in detecting & responding to cyber threats and the integration of novel technologies in the industrial automation sector are expected to drive the global cyber security for industrial automation market's growth during the forecast period. The Asia-Pacific region is projected to be the most dominant by 2032. NEW CASTLE, Del., Feb. 12, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Cyber Security For Industrial Automation Market By Type (Fixed Automation System, Programmable Automation System, Flexible Automation System, Integrated Automation System), By Tools or Technologies (Numerical Control (NC) Machine Tools, Programmable Logic Controllers (PLCs), Computer Numerical Control (CNC) Systems, Industrial Sensors), By Security Type (Enterprise Security, SCADA Security (supervisory control and data acquisition), Network Security, Device Security, Physical Security), By End Use (Automotive Manufacturing, Electronics and Telecommunication, Food & Beverage Processing, Pharmaceuticals, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global cyber security for industrial automation market generated $9 billion in 2022, and is anticipated to generate $20.5 billion by 2032, rising at a CAGR of 8.7% from 2023 to 2032.
Prime Determinants of Growth The rising popularity of cyber security in detecting & responding to cyber threats, increased number of cyber threats, and the stringent regulations & standards mandating the implementation of cybersecurity in industrial automation are the factors expected to drive the growth of the global cyber security for industrial automation market in the forecast period from 2023 to 2032. However, the lack of expertise & skilled professionals and the outdated legacy systems and compliance issues may hamper market growth in the coming future. On the contrary, the adoption of novel technologies in the industrial automation sector and the growing focus on cyber resilience and the development of incident response plans & business continuity are expected to offer remunerative opportunities for the expansion of the cyber security for industrial automation market during the forecast period. Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/A289338 Report Coverage & Details:
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Buy this Complete Report (320 Pages PDF with Insights, Charts, Tables, and Figures) at: Security Type: SCADA security (Supervisory Control and Data Acquisition) Sub-segment to be Flourish Immensely by 2032 The SCADA security (Supervisory Control and Data Acquisition) sub-segment accounted for the largest global cyber security for industrial automation market share of 28.5% in 2022 and is expected to grow at the highest CAGR of 9.4% during the forecast period. This is majorly because SCADA systems play a crucial role in industrial automation by providing remote monitoring and control capabilities. The rising need to protect critical processes from cyber threats is another factor to boost the sub-segment's growth. Besides, SCADA's capability for efficient centralized process control is driving the demand for cyber security in industrial automation. End Use: Food & Beverage Processing Sub-segment to Grow at the Highest CAGR During the Forecast Period The food & beverage processing sub-segment accounted for the largest market share of 34.4% in 2022 and is expected to rise at the highest CAGR of 9.3% during the forecast period. This is mainly because the food & beverage industry depends heavily on computer-controlled automation systems for its productivity. Besides, cybersecurity measures are significant to prevent downtime caused by cyberattacks. Moreover, in the food & beverage industry, intellectual property, such as formulations, proprietary recipes, and processes, is a valuable asset. A major factor to protect this intellectual property from unauthorized access or theft is cybersecurity. Type: Programmable Automation System Sub-segment to Witness Significant Growth by 2032 The programmable automation system sub-segment of the global market accounted for the highest share of 35.6% in 2022 and is projected to continue to maintain its dominance in terms of market share during the forecast period. This is primarily because the programmable automation systems offer a high degree of flexibility and adaptability in manufacturing processes. Besides, the nature of programmable automation systems is well-suited for batch production processes, especially in industries producing similar items using the same automated steps and tools. Furthermore, the programmable automation systems enable the seamless implementation of new processes through modification of the control program. Tools for Technologies: Programmable Logic Controllers (PLCs) Sub-segment to Rise at the Highest CAGR During the Forecast Period The programmable logic controllers (PLCs) sub-segment of the global market accounted for the largest cyber security for industrial automation market share of 32.6% in 2022 and is anticipated to rise at the highest CAGR of 9.5% by 2032. This is primarily owing to the efficient adaptation to evolving cybersecurity requirements offered by the flexibility of programmable logic controllers (PLCs) in industrial automation. Besides, PLCs offer robust operation and enhanced reliability compared to traditional relay-based control systems. The design of PLCs to operate in harsh industrial environments, along with built-in protection against temperature extremes, electrical noise, and dependable performance, ensures dependable and consistent performance. Region: Asia-Pacific Market to be the Most Dominant by 2032 The cyber security for industrial automation market in the Asia-Pacific region accounted for the largest share of 38.2% in 2022 and is predicted to rise at the highest CAGR of 9.2% during the forecast period. This growth is mainly owing to the significant rise in cyber threats. Besides, the rapid digitalization, geopolitical tensions, and the increased Internet penetration are other factors driving the regional market growth. Moreover, several countries in the Asia-Pacific region, such as India, South Korea, Japan, China, and others are actively pursuing digital transformation initiatives to enhance the productivity and efficiency of industrial processes. Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A289338 Leading Players in the Cyber Security for Industrial Automation Market:
The report provides a detailed analysis of the key players of the global cyber security for industrial automation market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model): AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports. Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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