GLOBAL CRITICAL INFRASTRUCTURE PROTECTION MARKET 2021-2028

GLOBAL CRITICAL INFRASTRUCTURE PROTECTION MARKET 2021-2028

MARKET OUTLOOK

Triton, in its research report, estimates the global critical infrastructure protection market to proliferate with a CAGR of 6.89% during the estimated phase between 2021 and 2028.

Several factors are responsible for driving the growth of this market. These include the implementation of smart grid technology on a large scale as well as a rise in the instances of cyber threats, insider attacks, and physical threats.

Also, in the present market environment, technologies like cloud computing are fundamentally changing the way information technology is used. The cloud computing technology and critical infrastructure protection systems working in conjunction are also contributing to market growth.

However, the lack of understanding of industrial control systems and poor interoperability among products is hampering the growth process. On the brighter side, though, the IoT technology (Internet of Things) is driving the growth of the information and physical security market. This is propelling the critical infrastructure protection market growth.

REGIONAL OUTLOOK

The global market for critical infrastructure protection spans across the regions of North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa.

North America is the largest market globally, accounting for the highest share in the CIP market. The region is an early adopter of technologies. In Canada, the implementation of the National Strategy and Action Plan for Critical Infrastructure has helped develop a risk-based approach for strengthening the resiliency of the nation’s crucial systems and assets. This is aiding the overall market growth.

Further, according to the US Department of Energy, the annual investment for the development of smart grid technology in the US is expected to rise significantly. These rising investments in smart grids to improve the security, flexibility, reliability, and efficiency of the electricity system is also supplementing the market growth in the North America region.

COMPETITIVE OUTLOOK

Some of the established giants in this market include Teltronic, McAfee Inc (TPG Capital), Waterfall Security Solutions Ltd, Honeywell International Inc, Raytheon Co, General Dynamics Corporation, Kaspersky Lab Inc, General Electric Company, BAE Systems Plc, Airbus SE, Axis Communications, Hexagon AB, Northrop Grumman Corp, Ericsson AB, and Lockheed Martin Corporation.

Ericsson is a company providing communications technology and services. It offers services such as application development and maintenance; learning services; managed services; consulting and transformation; and systems integration, among others.

The company operates in 180 countries across North America, Asia-Pacific, Latin America, Europe, and Sub-Saharan Africa via business segments like Networks, Managed Services, Digital Services, and Emerging Business, and Other. Ericsson Security Manager offers holistic security management, to ensure security and privacy in telecommunication networks, and it emphasizes on 5G, virtualization, and IoT.