Critical Infrastructure Protection Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Critical Infrastructure Protection Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Critical Infrastructure Protection Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Critical Infrastructure Protection Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global critical infrastructure protection market was valued at USD 79.49 billion in 2020 and is projected to be worth USD 117.19 billion by 2026, registering a CAGR of 6.49% during the period from 2021 – 2026.
Critical infrastructure plays an active and dynamic part in supporting the seamless progression and assimilation of modern society. The performance, safety, reliability, continuous operation, maintenance, and protection of critical infrastructure are among the national priorities for countries around the world.
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– June 2020 – The company and Kuwait Integrated Petroleum Industries Company (KIPIC) have participated in strategic collaboration, signing a five-year, multi-million dollar contract for services to protect, optimize and maintain operations at the Al Zour refinery and liquefied natural gas import (LNGI) terminal in southern Kuwait.
– Jan 2020 – The company partnered with Amossys at International Cybersecurity Forum (FIC). The partnership has three focus areas i.e. detecting vulnerabilities, studies, and innovation work (AI) and the development of Airbuss cyber range platform.
Key Market Trends
Sensitive Infrastructure and Enterprises Sector Vertical to Grow at the Highest Rate
– The financial services sector is a vital component of the nation’s critical infrastructure. Recent natural disasters, large-scale power outages, and an increase in the number and sophistication of cyberattacks demonstrate the wide range of potential risks facing the sector.
– Owing to the presence of a large networking framework, coupled with sensitive and critical data, the BFSI sector is facing several data breaches and cyberattacks, due to the large customer base served by the industry. ATMs face various security challenges, such as robberies, vandalism, and fraud.
– The increasing customer propensity towards ATM withdrawals is also expected to contribute to the markets growth. For instance, the Reserve Bank of India (RBI) has made it mandatory for banks to have the entire area under CCTV surveillance. The primary aim is to identify unscrupulous elements, like the circulation of fake currency in the banking system.
– Additionally, the Trojan malware steals credentials for e-payment and online banking systems, intercepting one-time passwords, and then sending the data to the attackers behind the Trojan. According to Kaspersky Lab, of 889,452 attacks, almost 25% of them were corporate, a figure that remained consistent for the past three years.
– Some of the prominent players in the industry, through R&D, have been able to develop advancements in technology, which is expected to boost the adoption of critical infrastructure during the forecast period. For instance, in December 2018, Intracom Telecom announced the launch of SIS-C2, a command, control, and integration management platform for border surveillance, critical infrastructure protection, homeland security, and maritime domain awareness.
– According to a 2018 report by EfficientIP, the telecom sector is one of the worst at tackling cyber threats. In 2018, 43% of telco organizations were victimized by DNS-based malware, and 81% took three days or more to apply the critical security patch. As telecoms are often the gateway into numerous businesses, the aim of direct cyber attacks is to access the core infrastructure of the telecom companies. Hence, there is an increasing need for protecting such infrastructure. Thus, creating opportunities for the market.
– The increasing initiatives by the government, in order to protect the defense critical infrastructures, are expected to boost the markets growth during the forecast period. For insatnce, in March 2019, Raytheon Company announced that it would deliver advanced surveillance towers to a Middle Eastern nation to help protect that nation’s borders and military installations.
– Government surveillance has been brought increasingly under public scrutiny, as it increases security, and opponents are decrying its invasion of privacy. For instance, In June 2019, the AAP government formally launched a flagship scheme in which it installed 1.4 lakh CCTV cameras in public places of the city for the safety of women around the city.?
– Furthermore, over the years, activities to protect public spaces against terrorism have evolved and been strengthened, focusing on protecting critical infrastructure.
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Critical Infrastructure Protection Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Critical Infrastructure Protection market share, latest trends, key players, and their projections for the future. Also, Critical Infrastructure Protection Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Critical Infrastructure Protection Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Critical Infrastructure Protection market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Critical Infrastructure Protection industries have also been greatly affected. With the slowdown in world economic growth, the Critical Infrastructure Protection industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Critical Infrastructure Protection market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Critical Infrastructure Protection market size will be further expanded, we expect that by 2027.
The Study Objectives of Critical Infrastructure Protection Market Report Are:
- Focuses on the key Critical Infrastructure Protection manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
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The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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