The Critical Infrastructure Protection (CIP) market size was valued at $118.19 billion in 2019, and is projected to reach $203.09 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027.
The surge in the adoption of new cutting-edge technologies in various organizations and the rise in the need to create new milestones in critical infrastructure security and cyber security sector drive the growth of the market.
In addition, an increase in demand for preparedness and response to serious incidents that involve the critical infrastructure of a region or nation among enterprises fuels the Critical Infrastructure Protection (CIP) market growth.
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Furthermore, an increase in the need for interactive, efficient and cost-effective infrastructure protection system is expected to provide remunerative opportunities for the expansion of the market during the forecast period.
Key Findings Of The Study
- By Component, in 2019, the Solution segment dominated the critical infrastructure protection market. However, the service segment is expected to exhibit significant growth during the forecast period.
- On the basis of solutions, physical safety and security segment accounted for the highest revenue of CIP market in 2019; however, the cybersecurity segment is expected to witness the highest growth rate over the forecast period.
- Depending on security, the operational technology segment generated the highest revenue in 2019. However, the information technology segment is expected to witness the highest growth rate in the near future.
- Region-wise, the RCS market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.
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On the basis of component, the solution segment dominate the overall Critical Infrastructure Protection market in 2019, and is expected to continue this trend during the forecast period. This is attributed to increasing the adoption of critical infrastructure protection solutions among enterprises to gain strategic as well as a competitive advantage and strong infrastructure security over their competitors.
In addition, it helps end-users to make secure their important infrastructures and alert them before they get damaged and attacked which drives the growth of the market. However, the service segment is expected to witness the highest growth, as this segment of Critical Infrastructure Protection (CIP) market ensures effective coordination between service provider company and customer by providing implementation and training, consulting services and managed services.
The adoption of this technology speeds up the safety of various critical infrastructures such as transportation, historical places, data centers, and government offices, maximizes the value of existing infrastructure by optimizing it, and minimizes the cost of survivance, which further fuels the growth of the market.
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The COVID-19 pandemic has been a defining moment, which has transformed businesses security perspective. The pandemic has massively affected how cybersecurity and critical infrastructure protection is delivered to organizations and users for fast-tracking remote workforce support and accelerating cloud adoption.
With every company adopting work from home policy, there has been a rise in demand for cloud-based systems. However, with this growth, the risk of cyber threats also increased, thereby venture capitalists are investing more in cyber infrastructure security.
The key critical infrastructure protection industry players profiled in the report are Honeywell International Inc., IBM Corporation, BAE Systems Plc, General Dynamics Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, DXC Technology Company, Intel Corporation, Airbus, TRL Technology Ltd. This study includes Critical Infrastructure Protection market trends, Critical Infrastructure Protection (CIP) market analysis, and future estimations to determine the imminent investment pockets.
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