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The Global Critical Infrastructure Protection Market size is expected to reach $102.6 billion by 2023, rising at a market growth of 6.9% CAGR during the forecast period. Major factors driving the CIP market are growing incidences of security breaches and cyber-attacks, stringent government regulations and growing investments into smart grid technologies. Security of a nation's asset is vital; therefore, cyberspace security is of utmost importance. Rising concerns pertaining the threats such as cutting off clean water, power, transportation, and emergency supplies, and as a result, disrupting nations, would be major concerns for the market growth.
High cost of implementation and issues pertaining to the implementation of comprehensive security solutions in distributed facilities are some the vital challenges for Critical Infrastructure Protection market. Additionally, factors such as complexities involved in the deployment of security infrastructure and the lack of interoperability between security systems are the factors that limit the growth of the market. Based on Type, the Critical Infrastructure Protection market segments the market into Technologies and Services.
The Security Technologies market is segmented into Physical Security, Network Security, Building Management Systems, Radars & Vehicle Identification Management, Secure Communication, and Others. Services are further segmented into Risk Management Services, Consulting Services, Managed Services, and Maintenance & Support Services. Based on End User, the market report segments the market into Energy & Power, Government & Defense, Transportation, BFSI, Telecom & IT, and Others. Based on Regions, the Critical Infrastructure Protection market segments the market into North America, Europe, Asia-Pacific, Middle East and Africa.
The market research report covers the competition analysis of key stake holders of the Global Critical Infrastructure Protection Market. Key companies profiled in the report include Airbus Group, BAE Systems Plc, DXC Technology, General Dynamics Corporation, Intel Corporation, IBM Corporation, Hexagon AB, Raytheon Company, Thales Group S.A., and Lockheed Martin Corporation.