The industrial cybersecurity market is expected to expand its roots at a steady CAGR of 7.8% during the forecast period. The market is likely to hold a revenue of USD 22.36 billion in 2023 while it is anticipated to cross a value of USD 46.96 billion by 2033.
Increased internet penetration in various regions of the globe is anticipated to contribute to the growth of the industrial cybersecurity market share. The increased adoption of Internet of Things (IoT) solutions in industrial control systems and cloud security applications is driving the industrial cybersecurity market size. The market is also predicted to develop due to the increasing adoption of emerging technologies such as 5G networks, big data, and artificial intelligence (AI) across industries.
The demand for cybersecurity solutions across industries is predicted to increase as the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems (IDS) grows.
| Attributes | Details |
|---|---|
| Industrial Cybersecurity Market CAGR (2023 to 2033) | 7.8% |
| Industrial Cybersecurity Market Size (2023) | USD 22.36 billion |
| Industrial Cybersecurity Market Size (2033) | USD 46.96 billion |
The demand for industrial cybersecurity solutions and services is rising as it helps firms in a variety of industries safeguard their data and other secret information from cyber-attacks. These industrial cybersecurity services assist businesses in monitoring and controlling a wide range of process outputs and inputs on the job site.
To carry out their core operations, numerous firms around the world have chosen cloud-based and connection equipment. This shift has put a significant strain on cyber security operations, as well as raising the risk of cyber-attacks.
Manufacturing and industrial facilities are increasingly adopting cloud-based ICS-as-a-service and industrial robots based on artificial intelligence platforms. This is driving the demand for industrial cybersecurity solutions. Industrial robots have cybersecurity solutions installed to protect them from cyber-attacks and keep them running properly.
According to the International Federation of Robotics, roughly 125.6 thousand industry robots were deployed in the automotive sector in 2018. Where, 105.2 thousand were in the electrical industry, and 43.6 thousand were in the metal and mining industries worldwide in 2018.
As a result, firms in the global market for industrial cybersecurity solutions are obtaining significant sales opportunities. The rising use of the internet in all parts of the world has resulted in a significant increase in cybercrime incidents in a variety of industries. Including discrete and process management.
As a result, businesses in a variety of industries, including oil and gas, automotive, energy and power, and aerospace and defense, are increasingly adopting industrial cyber security solutions. In the industrial cybersecurity services market, this scenario is likely to provide significant demand prospects.
In the years ahead, rising acceptance of cloud security solutions and IoT in industrial cybersecurity systems are anticipated to drive market expansion. As vast volumes of data and information are generated across sectors daily. One of the developing market trends is integrating industrial cybersecurity solutions with modern cloud services.
Advanced cloud services are necessary to monitor and analyze this data. The market's key players are concentrating on creating and integrating cloud-based cybersecurity solutions for OT and ICS applications across various sectors.
Over the last several years, government entities in several nations throughout the world have increased financial support for activities that aid in the reduction of cyber security breaches. The global market for industrial cybersecurity solutions is growing as a result of the mentioned factors.
| Countries | Revenue Share % (2022) |
|---|---|
| United States | 18.5% |
| Germany | 9.3% |
| Japan | 5.7% |
| Australia | 2.9% |
| North America | 27.4% |
| Europe | 23.1% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 9.3% |
| India | 9.5% |
| United Kingdom | 7.8% |
North America held a significant market share of 27.4% in 2022. Leading players have contributed to the region's success. Furthermore, increased investment by key companies to extend their global footprint is likely to drive demand for industrial cybersecurity solutions in North America.
CyberArk Software Ltd. introduced CyberArk, Cloud Entitlements Manager, an artificial intelligence-based service, in November 2020. The solution was created to improve cloud infrastructure security layers across businesses. The country is safeguarded from foreign trade vulnerabilities thanks to the implementation of modern cybersecurity solutions across industrial applications.
During the anticipated period, the demand for industrial cybersecurity solutions in the Asia Pacific is expected to increase at a swift rate. Key firms in China, India, Taiwan, Japan, Australia, South Korea, and other ASEAN nations are concentrating their efforts on cloud-based security applications. In the manufacturing industry, these countries have several small and medium companies (SMEs) and startups.
During the forecasted period, the demand for industrial cybersecurity solutions in Europe is expected to increase at a significant rate. The rise in investment for the expansion of secure IT infrastructure across the automotive industry is largely responsible for the region's success.
| Category | By Component |
|---|---|
| Leading Segment | Hardware |
| Market Share (2023) | 46.1% |
| Category | By End-use Industry |
|---|---|
| Leading Segment | Discrete |
| Market Share (2023) | 54.6% |
Due to the rising demand for industrial cybersecurity solutions like firewalls, SCADA encryption, and others, the software segment is expected to lead.
The software is anticipated to hold a substantial market share. DDoS, firewall, SCADA encryption, virtualization security, antivirus/malware, backup & recovery, and other software solutions are all seeing increased demand.
Key businesses are concentrating their efforts on creating and delivering advanced industrial security software solutions for a variety of industries. Including automotive, oil & gas, energy, and others.
Check Point Software Technologies Ltd., for example, introduced Check Point R81, a unified cybersecurity platform for industrial applications, in November. The technology aids IT workers in efficiently managing complicated network configurations by delivering pre-programmed threat protection notifications.
During the projected period, cloud application security is expected to increase substantially. This is primarily due to the heavy manufacturing industry's increased usage of cloud technologies.
During the forecast period, the network security, end-point security, and internet security segments are predicted to increase at a steady rate. Increased demand for dependable and safe security solutions across industries such as energy, food, beverages, automotive, and others is driving the segment's expansion.
During the projected period, the discrete industry is expected to dominate the market. The demand for IoT-enabled devices, 5G networks, and industry 4.0 solutions are driving the increase.
The discrete sector is further divided into automotive, electronics, heavy manufacturing, packaging, and other categories (aerospace and defense, and others).
Coronavirus had a negative influence on cybersecurity spending in the industrial sector around the world. The top players are concentrating on finishing pending investments and business initiatives to reclaim the market position.
Furthermore, in the near future, spending on infrastructure as a service (IaaS) and cloud computing tools is expected to rise. These investments may help to foster a variety of growth prospects and demand for industrial cybersecurity in industrial applications.
Market Developments
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 4: Global Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 5: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 8: North America Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 10: Latin America Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 11: Latin America Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 12: Latin America Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 13: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Europe Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 15: Europe Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 16: Europe Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 17: South Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 18: South Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 19: South Asia Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 20: South Asia Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 21: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 22: East Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 23: East Asia Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 24: East Asia Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 25: Oceania Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Oceania Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 27: Oceania Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 28: Oceania Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Table 29: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 30: MEA Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 31: MEA Market Value (US$ Million) Forecast by Security Layer, 2018 to 2033
Table 32: MEA Market Value (US$ Million) Forecast by End-User Industry, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Component, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 9: Global Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 10: Global Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 11: Global Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 12: Global Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 13: Global Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 14: Global Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 15: Global Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 16: Global Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 17: Global Market Attractiveness by Component, 2023 to 2033
Figure 18: Global Market Attractiveness by Security Layer, 2023 to 2033
Figure 19: Global Market Attractiveness by End-User Industry, 2023 to 2033
Figure 20: Global Market Attractiveness by Region, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Component, 2023 to 2033
Figure 22: North America Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 23: North America Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 24: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 28: North America Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 29: North America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 30: North America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 31: North America Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 34: North America Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 37: North America Market Attractiveness by Component, 2023 to 2033
Figure 38: North America Market Attractiveness by Security Layer, 2023 to 2033
Figure 39: North America Market Attractiveness by End-User Industry, 2023 to 2033
Figure 40: North America Market Attractiveness by Country, 2023 to 2033
Figure 41: Latin America Market Value (US$ Million) by Component, 2023 to 2033
Figure 42: Latin America Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 43: Latin America Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 54: Latin America Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 55: Latin America Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 57: Latin America Market Attractiveness by Component, 2023 to 2033
Figure 58: Latin America Market Attractiveness by Security Layer, 2023 to 2033
Figure 59: Latin America Market Attractiveness by End-User Industry, 2023 to 2033
Figure 60: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 61: Europe Market Value (US$ Million) by Component, 2023 to 2033
Figure 62: Europe Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 63: Europe Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 64: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 68: Europe Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 69: Europe Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 71: Europe Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 72: Europe Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 74: Europe Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 75: Europe Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 76: Europe Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 77: Europe Market Attractiveness by Component, 2023 to 2033
Figure 78: Europe Market Attractiveness by Security Layer, 2023 to 2033
Figure 79: Europe Market Attractiveness by End-User Industry, 2023 to 2033
Figure 80: Europe Market Attractiveness by Country, 2023 to 2033
Figure 81: South Asia Market Value (US$ Million) by Component, 2023 to 2033
Figure 82: South Asia Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 83: South Asia Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 84: South Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 85: South Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 86: South Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 87: South Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 88: South Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 89: South Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 90: South Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 91: South Asia Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 92: South Asia Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 93: South Asia Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 94: South Asia Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 95: South Asia Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 96: South Asia Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 97: South Asia Market Attractiveness by Component, 2023 to 2033
Figure 98: South Asia Market Attractiveness by Security Layer, 2023 to 2033
Figure 99: South Asia Market Attractiveness by End-User Industry, 2023 to 2033
Figure 100: South Asia Market Attractiveness by Country, 2023 to 2033
Figure 101: East Asia Market Value (US$ Million) by Component, 2023 to 2033
Figure 102: East Asia Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 103: East Asia Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 104: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 105: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 106: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 107: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 108: East Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 109: East Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 110: East Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 111: East Asia Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 112: East Asia Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 113: East Asia Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 114: East Asia Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 115: East Asia Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 116: East Asia Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 117: East Asia Market Attractiveness by Component, 2023 to 2033
Figure 118: East Asia Market Attractiveness by Security Layer, 2023 to 2033
Figure 119: East Asia Market Attractiveness by End-User Industry, 2023 to 2033
Figure 120: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 121: Oceania Market Value (US$ Million) by Component, 2023 to 2033
Figure 122: Oceania Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 123: Oceania Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 124: Oceania Market Value (US$ Million) by Country, 2023 to 2033
Figure 125: Oceania Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 126: Oceania Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 127: Oceania Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 128: Oceania Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 129: Oceania Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 130: Oceania Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 131: Oceania Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 132: Oceania Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 133: Oceania Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 134: Oceania Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 135: Oceania Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 136: Oceania Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 137: Oceania Market Attractiveness by Component, 2023 to 2033
Figure 138: Oceania Market Attractiveness by Security Layer, 2023 to 2033
Figure 139: Oceania Market Attractiveness by End-User Industry, 2023 to 2033
Figure 140: Oceania Market Attractiveness by Country, 2023 to 2033
Figure 141: MEA Market Value (US$ Million) by Component, 2023 to 2033
Figure 142: MEA Market Value (US$ Million) by Security Layer, 2023 to 2033
Figure 143: MEA Market Value (US$ Million) by End-User Industry, 2023 to 2033
Figure 144: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 145: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 146: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 147: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 148: MEA Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 149: MEA Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 150: MEA Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 151: MEA Market Value (US$ Million) Analysis by Security Layer, 2018 to 2033
Figure 152: MEA Market Value Share (%) and BPS Analysis by Security Layer, 2023 to 2033
Figure 153: MEA Market Y-o-Y Growth (%) Projections by Security Layer, 2023 to 2033
Figure 154: MEA Market Value (US$ Million) Analysis by End-User Industry, 2018 to 2033
Figure 155: MEA Market Value Share (%) and BPS Analysis by End-User Industry, 2023 to 2033
Figure 156: MEA Market Y-o-Y Growth (%) Projections by End-User Industry, 2023 to 2033
Figure 157: MEA Market Attractiveness by Component, 2023 to 2033
Figure 158: MEA Market Attractiveness by Security Layer, 2023 to 2033
Figure 159: MEA Market Attractiveness by End-User Industry, 2023 to 2033
Figure 160: MEA Market Attractiveness by Country, 2023 to 2033
The market is valued at USD 22.36 billion by 2023.
The market is expected to reach USD 46.96 billion by 2033.
The market is estimated to register a 4.6% CAGR until 2033.
Integration of cloud-based cybersecurity solutions is a key trend.
The hardware segment was most preferred in 2022 with a 46.1% market share.
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