The Global Critical Infrastructure Protection Market is valued at USD 94.76 billion in 2016 and is expected to reach a value of USD 154.59 billion by the end of 2022, growing at a projected CAGR of 8.5 % during the forecast period of 2017 – 2022. Countries across the world are paying attention to their critical infrastructure, especially when the virtual and cyber world are exposed to innumerable threats of hacking, attacks and theft. Critical infrastructure is mostly related to electricity, oil and gas, telecommunication, water supply generation, transmission and distribution, agriculture, food production and distribution, financial services, and security services. There is a dire need for cost-effective solutions to ensure better security and response handling in the case of an emergency. This cost-effectiveness eventually ensures a competitive edge to every organization. Critical infrastructure protection deploys, both traditional and modern cyber security technology, to ensure more reliability and better protection in the long run.
The global market is driven by the current trend of investment in smart grids, increase in IT spending, growth in the deployment of automation solutions, integrated functioning of cloud and CIP, increase in cyber-attacks and cyber-crimes, and efficient policy regulations and implementations. Lack of technical workforce, a deep understanding of industrial control system and the lack of interoperability between products are some of the factors restricting the market growth.
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Recent industry trends in the information and physical infrastructure market indicates that the technology and the market are continuously increasing due to the increase of data, as a result of which the number of cyber-attacks has also increased. Apart from the current services of remote management, consulting and technical support in the security domain, some advanced features of data and fraud analytics and infinite storage facilities are to be introduced in all the verticals over the next few years.
Critical infrastructure market has been segmented on the basis of the different services offered by the market as risk management services, designing, integration and consulting, managed services and maintenance and support, of which risk management services holds the largest part in CIP, with an estimated market size of USD 41.75 billion, followed by designing, integration and consultation, constituting 35.26 % market share.
In 2015, North America dominated the critical infrastructure market with 34.28 % share and this trend is estimated to continue over the projection period as well. Majorly driven by the United
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