Pune,India, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The global critical infrastructure protection (CIP) market is expected to grow astonishingly backed by the increasing development of smart cities. Such cities consist of cyber and physical infrastructures that enhance the overall standard of living. Security experts often use CIP solutions to protect the infrastructures from cyber-attacks. This information is given by Fortune Business Insights™ in a new report, titled, “Critical Infrastructure Protection (CIP) Market Size, Share & COVID-19 Impact Analysis, By Component (Type, Services), By Application (Identity and Access Management, Patching and Vulnerability Management, Security Event Monitoring, Incident Response, Resilience and System Recovery, Others), By Vertical (Energy and Power, BFSI, Transportation and Logistics, Healthcare, Manufacturing and Chemical, Oil and Gas, Government and Defense, and Others) and Regional Forecast, 2021-2028.” The report further states that the critical infrastructure protection (CIP) market size was USD 96.30 billion in 2021 and is projected to reach USD 154.59 billion by 2028, exhibiting a CAGR of 6.2% during the forecast period.

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Fortune Business Insights™ presents a list of all the critical infrastructure protection solution providers operating in the global market. They are as follows:

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This Report Answers the Following Questions:


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Drivers & Restraints-

Rising Need to Protect Industrial Infrastructure will Surge Demand for CIP Solutions

Critical infrastructure is persistently at high risk from numerous man-made and natural hazards and threats, such as terrorist attacks, cyberattacks, conventional or falling infrastructure, and harsh weather conditions. The large industrial infrastructures require internet connectivity for administration and remote monitoring. The above-mentioned threats can cause severe damages to defense, transport, energy systems, healthcare, finance, and telecommunications. They can further have devastating effects on the economy worldwide. Therefore, the critical infrastructure protection solutions are much needed for preventing such threats. In addition to this, the COVID-19 pandemic would impact the market positively stoked by the urgent need for strong communication infrastructure as the educational institutions are moving towards e-learning and the companies are shifting towards work-from-home initiatives.

However, building robust partnerships with the governments, stakeholders, and organizations to collect information is a difficult task. It requires trust building. This factor may hamper the critical infrastructure protection market growth in the near future.

Segment-

Identity & Access Management Segment to Lead Owing to Its Ability to Provide Secure Access to Companies

Based on application, the market is segregated into resilience and system recovery, incident response, security event monitoring, patching and vulnerability management, identity and access management, and others. Out of these, the identity and access management segment held 26.8% in terms of critical infrastructure protection market share in 2021. It is set to lead throughout the coming years owing to its ability to aid the companies in delivering efficient and secure access to the diverse systems.


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Regional Analysis-

High-profile Cyber-attacks to Favor Growth in Asia Pacific

In 2021, North America procured USD 32.57 billion in terms of revenue. This growth is attributable to the increasing dependence of the e-commerce and electric power industries on CIP solutions, as well as the rising cases of cyber-attacks. So, the American government has inclined towards providing safety to the critical infrastructure of various countries in the region. Asia Pacific, on the other hand, is expected to be the fastest-growing region in the near future backed by the increasing prevalence of high-profile cyber-attacks. These attacks have compelled the authorities to strengthen their critical infrastructure and cyber resilience. It would help in surging the demand for CIP solutions in this region.

Competitive Landscape-

Key Players Focus on Partnership Strategy to Gain a Competitive Edge

The market houses some of the industry giants, such as Huawei Technologies Co., Ltd., Honeywell International, Inc., and BAE Systems that are consistently striving to retain their positions by working with a wide range of industries, such as water and wastewater, food processing, electric utilities, and oil & gas. Some of the other companies are following the strategy of partnerships and collaborations to develop in-house CIP solutions. Below are two of the latest industry developments:


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