According to a new market research report “Critical Infrastructure Protection Market by Security Technology (Network, Physical, Radars, CBRNE, Vehicle Identification, Secure Communication, SCADA, Building Management), by Service, by Vertical & by Region – Global Forecast to 2021”, The critical infrastructure protection market size is estimated to grow from USD 102.47 Billion in 2016 to USD 144.82 Billion by 2021, at an estimated CAGR of 7.16% from 2016 to 2021.
Government regulations & practices and increasing number of cyber threats are driving the implementation of CIP solutions and technologies. Organizations, whether public or private, are adopting technologies to protect their critical infrastructure against malicious objects, make quick response to block suspicious activity, and safeguard both cyber & physical systems.
Physical security technology to play a key role in the critical infrastructure protection market
Physical security technology is expected to have the largest market share in the critical infrastructure protection market during the forecast period as threats to physical assets, incidence of terrorist attacks, and government regulations have made it mandatory. Also, there has been increased budget allocation to implement physical security systems and technologies to secure properties, resources, and society.
Sensitive infrastructure and enterprises vertical contributes the maximum market share
The sensitive infrastructure and enterprises vertical which includes Banking, Financial Services, & Insurance (BFSI), government facilities & defense establishments, stadiums, holy places & public places, communication systems, and chemical & manufacturing sectors is expected to contribute the largest market share in the critical infrastructure protection market. As these subsegments are major contributors to a nation’s infrastructures and the most critical assets present, the vertical has the largest share in the critical infrastructure protection market. The CIP solution allows such sensitive infrastructures to provide security and safety to their customers.
North America expected to contribute the largest market share; Middle East and Africa to grow the with the highest rate
North America is expected to hold the largest market share in the critical infrastructure protection market from 2016 to 2021, due to strong government regulations and best practices building many associations to take care of critical infrastructures, for example the North American Electric Reliability Corporation (NERC). Middle East and Africa is the fastest-growing region for the global critical infrastructure protection market due to growth in the number of sensitive infrastructures and organizations in the region. This in turn leads to high growth rate in security needs for their critical infrastructure so as to have resilience against cyber attacks or block unauthorized access and threats/attacks.
Critical infrastructure protection market report categorizes the global market by security technology as network, physical, radars, CBRNE, vehicle identification, secure communication, SCADA, building management, by service, by vertical and by regions.