LONDON, Sept. 27, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the critical infrastructure protection market, the rise in the adoption of cloud technology and IoT devices is expected to propel the growth of the critical infrastructure protection market going forward. The Internet of Things (IoT) is a system of physical items that uses software and other technologies to connect to devices and systems over the web for transferring data and using cloud technology for storing and accessing data over the internet instead of a computer hard drive. In critical infrastructure, cloud computing provides confidentiality, integrity, and availability of data and compliance with applicable standards.
For instance, according to Rapyder, an India-based cloud services and solutions company, as of November 2020, more than 79% of organizations have adopted multi-cloud technology. Therefore, the increase in the adoption of cloud technology and IoT is driving the demand for critical infrastructure protection market.
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The global critical infrastructure protection market size is expected to grow from $128.95 billion in 2021 to $139.15 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The global critical infrastructure protection market size is expected to grow to $175.40 billion in 2026 at a CAGR of 6%.
Technological advancements are the key trend gaining popularity in the critical infrastructure protection market. Major companies operating in the critical infrastructure protection sector are focused on developing technologically advanced products to strengthen their market position. For instance, in February 2022, Forcepoint, a US-based software company, launched Forcepoint One, a cloud platform developed with zero trust and SASE (Secure access service edge) technologies. This product enables organizations to protect their infrastructures by managing one set of policies from a single console. Users can manage a wide variety of security services while reducing costs and managing over 50-point products. This platform is an all-in-one security platform that is simplified for traditional and remote workforces and allows them controlled access to information on the web, cloud, or any private applications.
Major players in the critical infrastructure protection market are BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc, Airbus SE, Raytheon Company, Thales Group, Hexagon AB, Johnson Controls International, Teltronic, General Dynamics Corporation, Optasense, Waterfall Security Solutions, Rolta, and SCADAfence.
The global critical infrastructure protection market is segmented by component into solutions, services; by security technology into network security, physical security, others; by vertical into commercial sector, telecom, chemical and manufacturing, oil and gas, others.
North America was the largest region in the critical infrastructure protection market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global critical infrastructure protection industry during the forecast period. The regions covered in the global critical infrastructure protection market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Critical Infrastructure Protection Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide critical infrastructure protection market overviews, analyze and forecast market size and growth for the whole market, critical infrastructure protection market segments and geographies, critical infrastructure protection market trends, critical infrastructure protection market drivers, critical infrastructure protection market restraints, critical infrastructure protection market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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