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Critical Infrastructure Protection Market to hit USD 157.1 billion by 2026

NEWSROOM by NEWSROOM
October 27, 2022
in PRESS RELEASES
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(EMAILWIRE.COM, October 27, 2022 ) Critical Infrastructure Protection Market size is expected to grow from USD 133.3 billion in 2021 to USD 157.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 3.3% from 2021 to 2026.

Browse in-depth TOC on “Critical Infrastructure Protection Market”
544- Tables
50- Figures
395- Pages

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Increasing stringent government regulations to increase the adoption of CIP solutions, rising security breaches and attacks pose a threat to physical systems and growing need to secure OT networks to boost the growth of Critical Infrastructure Protection Market across the globe during the forecast period. Moreover, enhancing next-generation technologies and availability of wireless broadband in rural areas would provide lucrative opportunities for Critical Infrastructure Protection Market vendors.

Major vendors in the global Critical Infrastructure Protection Market include BAE Systems (UK), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Raytheon (US), Thales (France), Hexagon AB (Sweden), Johnson Controls (US), Huawei (China), Optasense (England), Teltronic (Spain), Motorola Solutions (US), Axis Communications (Sweden), Waterfall Security Solutions (Israel), Rolta (India), SCADAfence (Israel), Tyco International (Ireland), and 3xLogic (US), Sightlogic(US), Accritical Infrastructure Protectioniter Radar (US), etc.

By solution, physical safety and security segment to hold the largest market size during the forecast period

Physical safety and security is the protection of physical assets, such as hardware, programs, premises, and personal data, from physical threats. Ignoring these threats can lead to serious damages or losses to owners and users. Any critical infrastructure requires multiple physical barriers to ensure physical protection. Terrorism and natural disasters remain the biggest challenges for CIP. For example, in September 2019, Saudi Arabia suffered the deadliest attack on its oil facilities named Saudi Aramco. A small army of drones attacked two major oil plants in Abqaiq and Khura, destroying nearly 50% of the countrys global supply of crude oil. Therefore, enterprises need to think beyond traditional perimeter security, clearly define security perimeters, and protect secured areas with entry controls to ensure authorized personnel entry. In November 2018, US president Donald Trump established the Cybersecurity and Infrastructure Security Agency (CISA) that co-ordinates security and resilience efforts using trusted partnerships across private and public sectors and delivers technical assistance and assessments to federal stakeholders as well as infrastructure owners and operators. Secure and robust security systems such as high-quality video surveillance systems and perimeter security systems are integrated in premises to monitor ongoing activities in and around the premises. With the inception of video analytics as well as technologies, such as thermal cameras and biometric authentication, video surveillance has improved drastically. Some systems now use micro waves and radio waves to create perimeters that can alert security teams about threats. Video surveillance devices supported by video analytics software help monitor crowds in public areas and enterprises. The increased adoption of video surveillance supported by the facial recognition technology is observed in various application areas, including border control, law enforcement, and government and public utilities. The physical safety and security segment includes physical identity and access control systems, perimeter intrusion systems (RADARs and sensors), video surveillance systems, screening and scanning, and others (facility management systems, emergency response, and disaster management).

In vertical, commercial sector to grow at the highest CAGR during the forecast period

The commercial sector includes sensitive areas, such as hospitals, stadiums, theatres, auditoriums, malls, offices, and holy places. Protecting these facilities becomes extremely important for countries’ security and economy. People are present in huge numbers in these places. Even with the deployment of CCTV cameras as well as checking passes of people entering premises is followed, it is still not sufficient to ensure proper security. A minor neglect can result in huge losses. For example, on 25th March 2020, Islamic jihadist suicide bombers and assailants armed with guns attacked Gurudwara Har Rai Sahib (Sikh shrine) in Kabul, Afghanistan, resulting in the death of 25 people and leaving many wounded. These challenging environments need to be secured by deploying the right technology and providing the best possible information to decision makers. These critical infrastructures typically cover large areas, and thus, the need to achieve full coverage and better operational efficiencies drives the growth of this vertical.

North America to hold the largest market size during the forecast period

The North American region consists of developed countries that are technologically advanced with well-developed infrastructures. Being the strongest economies in North America, the US and Canada are the top contributing countries to the North American CIP market. North America is the most advanced and adaptable region in terms of the adoption of security infrastructure and technological development.

The North American region comprises the country-wise analysis of the US and Canada. Public-Private Partnerships (PPPs) and international collaborations have led to effective critical infrastructure security and resilience in the region. As per the Department of Homeland Security (DHS), 85% of the US’ critical infrastructures such as oil and gas, banking and finance, transportation, utilities, electric power grids, and defense are owned by the private sector and the rest is regulated by the public sector. The National Infrastructure Protection Plan (NIPP) enables state, regional, federal, local, and international governments to work within and with their private partners for a networked community to maintain effective risk management and security of the region’s critical infrastructure. For example, the energy and power grid sector in the region requires public, private, and regulatory co-operation among DHS, Department of Energy (DOE), and the Department of Defense (DOD) for protecting their Operational Technology (OT) systems from cyber threats. International co-operation among Public Safety (PS) Canada and the US DHS has facilitated real-time collaborations for critical infrastructure cybersecurity issues.

The North American Electric Reliability Council (NERC) and Canadian Electricity Association (CEA) seek to safeguard critical infrastructures from both physical and cyber threats. The NERC is a not-for-profit regulatory authority to protect the North American bulk electric power system. On 5th March 2019, North America experienced the first ever attack on the country’s power grid. The interrupted Distributed Denial of Service (DDoS) attack hampered the utility and reliability of grids. Therefore, it is necessary to regulate and monitor industrial infrastructures, and perform risk assessments for analyzing potential vulnerabilities in the critical infrastructure system.

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