Critical infrastructure monitoring market is set to witness steady growth during 2021-2031. One of the major growth drivers for the critical infrastructure monitoring market happens to be the stringent regulations laid out by the government in order to increase the adoption of critical infrastructure monitoring solutions.
Additionally, rising security attacks and breaches that pose a threat to physical systems, coupled with growing need to secure OT networks are other major factors driving the demand for critical infrastructure monitoring solutions and services.
Critical infrastructure extends to a wide range of facilities, including highways, dams, utilities and grid infrastructure, water treatment plants, and government buildings, among others.
Monitoring of these sites requires constant vigilance by employees and requires deployment of technologies such as surveillance cameras, sensors, and drones among others. The importance of monitoring critical infrastructure goes far beyond safety and security, but also focuses on providing uninterrupted supply of services to the citizens.
Increasing need for safety is one of the major factors driving market growth. Relentlessly monitoring critical infrastructure can help in preventing accidents before they even occur. In addition, using technologies such as sensors and video surveillance can reduce the cost of monitoring significantly, while adhering to the state and federal regulations.
Monitoring critical infrastructure helps in increasing the return on investment in overall technology deployment, including improved quality of life, uninterrupted service, and enabling citizen engagement. Owing to such factors, there has been rise in demand for critical infrastructure monitoring solutions and services across different industry verticals.
Furthermore, the growing necessity to develop sophisticated tools and improve solutions has resulted in the formation of complex critical infrastructures.
On the basis of solution, the sensor market has been bifurcated in to physical safety and security, and cybersecurity. Out of which, the cybersecurity segment is anticipated to grow at the highest rate over the forecast period.
This is owing to the increasing cyber-attacks. The increasing volume of data and the rapid evolution of the threat landscape are making organizations more vulnerable to the evolving capabilities of modern cyber threats. Thereby contributing to the growth of cybersecurity segment.
U.S. happens to be one of the largest markets for critical infrastructure monitoring across the globe. The growth in U.S. is attributed to the presence of established players such as BAE Systems, General Dynamics, Honeywell, Northrop Grumman, and Airbus, among others in the region.
Moreover, US happens to be one of the advanced nations adopting upcoming technologies in order to improve work efficiency, provide safety, and thereby driving the market growth.
With the rising cyber-attacks, there has been a rise in research and development investments by governments from different countries across the globe. Governments in Europe are focused on building stronger defense systems to potential cyber-attacks to their critical infrastructure.
Countries in Europe, such as Germany, Italy, and UK have been the early adopters of automation technologies along with other upcoming technologies. With the advancements in technology, automated and sophisticated cyber-attacks are accelerating. Growing need for safety and security are major factors driving the demand for critical infrastructure monitoring in the region.
Some of the leading providers of critical infrastructure monitoring include
The companies operating in the market are focused on partnerships, acquisitions, and new product launches, in order to strengthen and expand their presence in the market.
For instance, in December 2019, Honeywell completed the acquisition of Rebellion Photonics, a U.S. based provider of innovative gas monitoring solutions which are focused on maximizing operational performance, safety, emissions mitigation and compliance in the petrochemical, oil and gas, and power industries.
The acquisition shall be a part of the former company’s Safety and Productivity Solutions business, which provides an extensive range of gas detection technologies, mobility solutions, and safety gear, for the safety and efficient productivity of the workers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Critical Infrastructure Monitoring Market
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