FELTON, Calif., Jan. 11, 2021
FELTON, Calif., Jan. 11, 2021 /PRNewswire/ -- The global critical infrastructure protection (CIP) market is anticipated to be valued at USD 135.48 billion by 2025. It is also expected to register a CAGR of 10.1% over the forecasted years, 2017 to 2025. The rising awareness about securing data and cyberspace related to national interest is expected to trigger the market growth for CIP solutions.
In 2016, the OT (operational technology) segment dominated the global market on account of increasing usage of these solutions in the operational technology, SCADA, and industrial control systems. While, the IT security segment is expected to witness a CAGR of 9.8% in the upcoming years due to the increasing need for the creation of e-governance, ICT plans, sectoral projects, and promotion of e-commerce activities.
The energy & power application segment held the highest share in 2016 owing to enhanced security posture provided by these CIPs for comprehensive assessment along with the advice of experts. On the other hand, the risk management services segment is expected to register a CAGR of 11.7% over the forecasted period due to their increasing rising adoption by several governing bodies for safeguarding their cybersecurity.
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In 2016, North America accounted for a significant share across the global CIP solutions market due to the imposition of many regulations by the U.S. government for ensuring national and physical cybersecurity. Asia Pacific is anticipated to witness the highest CAGR of 11.9% from 2017 to 2025 on account of the rising adoption of technology across industrial and defense systems across countries like China and India.
The CIP market includes key players such as IBM Corporation; Leonardo SpA; Intel Corporation; BAE System Plc, General Dynamic Corporation, Airbus; and Raytheon Company. These players are continuously focusing on developing advanced and innovative solutions for widening their client base.
Further key findings from the report suggest:
Browse 131 page research report with TOC on "Global Critical Infrastructure Protection (CIP) Market" at: https://www.millioninsights.com/industry-reports/global-critical-infrastructure-protection-cip-market
Million Insights has segmented the global critical infrastructure protection (CIP) market on the basis of security type, services, application, and region:
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