The major factors driving the market are increasing stringent government regulations to increase the adoption of CIP solutions, rising security breaches and attacks that pose a threat to physical systems, and the growing need to secure OT networks.
JERSEY CITY, N.J., Aug. 18, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Critical Infrastructure Protection Market" By Component (Security Technologies and Services), By Solution (Physical Safety and Security, Cybersecurity), By Vertical (Financial Institutions, Defence, Energy and Power), and By Geography. According to Verified Market Research, the Global Critical Infrastructure Protection Market size was valued at USD 151.47 Billion in 2020 and is projected to reach USD 249.60 Billion by 2028, growing at a CAGR of 7.40% from 2021 to 2028.
Global Critical Infrastructure Protection Market Overview
Disruptions in the electricity system, manufacturing, information technology, and transportation have a significant influence on a country's economic stability, national security, safety, and health. Several governments have enacted federal laws and regulations to develop cybersecurity requirements for critical infrastructure protection. President Donald Trump directed the Cyber Security and Infrastructure Security Agency (CISA) to discover weaknesses in the country's critical infrastructure on November 16, 2018. The CISA recently launched 55 important functions to control physical damages, disrupted operations, and intellectual property violations. To build secure infrastructure systems, the Department of Homeland Security (DHS) has collaborated with business sector partners. The US government also maintains tight ties with private sector corporations, as private enterprises own and run 85 percent of essential infrastructure.
Public Safety Canada, a cybersecurity group, has worked with key stakeholders to improve the security and resilience of important assets such as food supply, energy and utilities, public safety systems, and information and communications technology (ICT).The Australian Critical Infrastructure Act 2018 maintains a register of critical infrastructure assets to manage risks associated with Australia's critical infrastructure in collaboration with the government, regulators, and critical infrastructure operators.
Governments around the world have established regulations and associations, such as the US DHS, the Department of Defence Information Assurance Certification and Accreditation Process (DIACAP), the North American Electric Reliability Council (NERC), the European Programme for Critical Infrastructure Protection (EPCIP), and the European Commission's Critical Infrastructure Warning Information Network (CIWIN).Public Safety Canada's National Strategy and Action Plan to maintain and enforce reliability requirements and national security across the country's critical infrastructure. These organisations contribute to the increased security and resilience of physical and cyber infrastructure. Government across regions also provide incentives to corporations, such as cybersecurity insurance, subsidies, and tax breaks, to encourage them to engage in critical infrastructure protection. As a result, some governments are implementing regulatory compliances to protect data from cyberattacks, increasing the adoption of CIP solutions.
In May 2021, BAE Systems will provide receiver modules that will allow the military to use a jam-resistant GPS signal known as M-code or military code. The modules would be employed in the construction of military-grade GPS receivers for precision-guided bombs and portable devices.
The major players in the market are BAE Systems (UK), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Raytheon (US), Thales (France), Hexagon AB (Sweden), Johnson Controls (US).
Verified Market Research has segmented the Global Critical Infrastructure Protection Market On the basis of Component, Solution, Vertical, and Geography.
Critical Infrastructure Protection Market, By Component
Critical Infrastructure Protection Market, By Solution
Physical Safety and Security
Physical Identity and Access Control Systems
Perimeter Intrusion Detection Systems
Video Surveillance Systems
Screening and Scanning
Network Access Controls and Firewalls
Physical safety and security will have the largest market size by solution over the forecast period, Threat Intelligence
Other Cybersecurity Solutions
Critical Infrastructure Protection Market, By Vertical
Transport and Logistics
Energy and Power
Chemical and Manufacturing
Critical Infrastructure Protection Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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