Critical Infrastructure Protection Market Valuation Expected to Exceed USD 203.0 Billion at CAGR of 7.2% by 2027

A surge in cyber-attacks and security breaches in physical systems and the need for operational technology networks drive the global market.

PORTLAND, PORTLAND, OR, UNITED STATES, November 13, 2023 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Critical Infrastructure Protection (CIP) Market by Component, Security Type, Industry Vertical, and Region: Opportunity Analysis and Industry Forecast, 2020-2027,”.

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 rise in the need to create new milestones in critical infrastructure security and cyber security sectors drive the growth of the market.

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In addition, the 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. Furthermore, an increase in the need of interactive, efficient and cost-effective infrastructure protection system are expected to provide remunerative opportunities for the expansion of the market during the forecast period.

Enforcement of stringent government regulations toward the adoption and implementation of critical infrastructure protection software, surge in cyber-attacks and security breaches in physical systems, and need for operational technology networks drive the global critical infrastructure protection market. However, high initial cost of CIP and lack of interoperability between the CIP solutions along with complexity in the technical operation hinder the market growth. On the other hand, the emergence of cutting-edge technology such as cloud technology and internet of things (IoT) along with rise in investment of government authority present new opportunities in the coming years.

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Based on components, the solution segment dominated the overall Critical Infrastructure Protection market in 2019, and is expected to continue this trend during the forecast period. This is attributed to an increase in the adoption of critical infrastructure protection solutions among enterprises to gain strategic as well as competitive advantage and strong infrastructure security over their competitors. In addition, it helps end-users to 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 these segments of the Critical Infrastructure Protection (CIP) market ensure 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 infrastructure 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 fuel the growth of the market.

Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to strong economic growth along with the ongoing development in the national security and personal safety sector, which drives organizations to invest heavily in the Critical Infrastructure Protection (CIP) market to sustain growth and improve productivity. In addition, factors such as a major shift toward digital transformation, rise in cloud deployment and technological advancement among small & medium businesses, and ongoing modernization of cyber and infrastructure security in emerging economies. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the Critical Infrastructure Protection (CIP) industry during the forecast period.

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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.

Covid-19 Scenario:

• Various regulatory bodies have lifted some of the enforcement criteria during the pandemic. However, several new organizations have been planning for long-term regulatory compliance with data security and data management becoming crucial factors for the adoption of critical protection infrastructure services and solutions.

• The majority of organizations have adopted the "work from home" policy, so the demand for cloud-based systems increased significantly. However, the risks regarding cyber threats rose, which led to an increase in investments in cyberinfrastructure security.

• Though many tourist places were closed, leading to reduced implementation of critical information security systems, the opening of tourist places during the post-lockdown would lead to a gradual increase in demand.

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